Shield Protocol is a two-factor authentication (2FA) on the blockchain where the backup details are stored on the integrated Binance Smart Chain (BSC). As per the whitepaper, the Shield protocol provides additional security where data is stored on a server-less peer-to-peer structure on the blockchain replacing centralized servers. All logs are stored on a decentralized ledger, offering transparency while keeping the identity of an individual secure. The project's main aim is to provide users with complete privacy and anonymity and safeguard the entire system using the new blockchain technology.
Data security is a serious problem these days, and data breaches can happen with centralized apps despite the secure setups companies provide. A centralized system is not foolproof, and hackers manage to perform data breaches or internal leaks of data and information can lead to a breach. Even if people use 2FA in a centralized system, they must provide their personal email ID and password and can still end up revealing that information.
Shield 2FA, on the other hand, works on reducing the need to provide personal details for login, also eliminating centralized storage of data on centralized servers. Instead, the data remains on a cross-chain blockchain network. Hence, the shield protocol is a system that does not take a user’s personal details or use any centralized storage.
Various other features of the platform include:
SHIELD is the native token of the Shield platform. Users can use SHIELD to pay the fees for blockchain usage. The token also has various other use cases on the platform.
