AlphaPoint, the leading cryptocurrency exchange platform provider, recently announced its integration of Clef’s ‘no password two-factor authentication system’ to their serviced Bitcoin exchanges in the hope of fully intensifying and solidifying Bitcoin security.
Following the events concerning Bitcoin fund hacking like the infamous Mt. Gox downfall, the Bitcoin extortionists DD4BC, and the recent VENOM software scare, it is inevitable for Bitcoin users to be wary of their funds’ protection.
AlphaPoint’s recent partnership with Clef is expected to put every security scare to rest because of the latter’s unique two-factor authentication solution.
Unlike the conventional account authentication wherein users enter their email address and password, Clef’s innovative idea only requires users to log in using their smartphone.
Joe Ventura, AlphaPoint’s Chief Technical Officer, said that account security seats at the helm of his company and believes that Clef’s integration into their system will allow their powered exchanges to achieve improved security.
Moreover, Ventura expressed his pleasure toward his company’s partnership with the account security provider:
“We’re very excited to offer Clef’s robust, intuitive solution and believe it will help ensure more traders use 2FA to protect their accounts.”
To date, AlphaPoint services over 20 Bitcoin and altcoin exchanges, including one of the leading cryptocurrency exchanges, BitFinex. In addition, these exchanges are guaranteed to benefit from the latest integration.
Simple yet advanced security system
Clef believes that the traditional 8-character password system tends to result in a “difficult and painful” Internet usage.
In addition, Clef highlighted the fact that these characters are not enough to protect important files that users store in the Internet’s database. In lieu, it revolutionized account authentication by cancelling out everything about the traditional account verification and replaced it with a method that only takes 30 seconds of the users’ time.
The two-factor authentication straightforwardly functions with just the users’ smartphone. Users are only required to download the Clef app and from there, they just need to fill in their personal information.
Once done, Clef’s supported programs, like AlphaPoint-powered exchanges, will display a scan code on the computer screen upon logging in, for users to scan. While scanning, Clef’s system connects to the user’s registered app to verify the scanner’s authenticity using the in-app information. Users, then, are granted full access to their accounts upon completion of the scan.
The integration of the two-factor authentication saves times and effort, making the login process so much more convenient for the users. This shows Clef’s mission to completely adapt to the fast-paced transactions observed within the Bitcoin ecosystem.
The possibility of Bitcoin casinos adopting Clef’s system
AlphaPoint’s partnership focuses on markets that vault huge amounts of cryptocurrencies. Like the exchanges, the Bitcoin casino market also holds significant amounts of Bitcoin and other digital currencies, deposited and to be cashed out by the players from different regions. With these figures, the Bitcoin gambling niche becomes a hot target for cryptocurrency criminals.
Moreover, these gambling venues operate using the Internet, making the information stored by players very accessible to BTC pirates. However, Bitcoin casinos can nullify these threats with the integration of Clef’s system.
The two-factor authentication can certainly protect the Bitcoin gambling sector, where transactions and transfers are done every passing minute. If high-paying gambling sites like BitCasino.io, Americas Cardroom, and Betcoin Casino integrate the account authentication provided by Clef, players will be assured of the protection and security of the transferred funds while playing various Bitcoin games.
In addition, players will be given the idea that there is no possible way to enter their casino account unless other users get hold of their phone, which in this case, holds their identity authenticity. That being said, Clef can possibly stabilize the shaky Bitcoin gambling industry’s security to a full scale.
Overall, there is a high possibility that the AlphaPoint-Clef partnership will pioneer the inevitable rise of the intensified-no password account protection in the whole Bitcoin ecosystem. Likewise, there is an assurance that a steady BTC protection landscape will be realized together with an astounding drop on the Bitcoin hacking rate.