Chainlink, a decentralized oracle network, has welcomed the first two-factor authentication (2FA) oracle for smart contracts developed by a blockchain firm called Digital Bridge.
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According to an official announcement, the new oracle will further extend the security guarantees through the Chainlink network.
"We built Digital Bridge on top of the Chainlink Network because it is the most secure, reliable, and flexible oracle solution in the market," the developers wrote.
For the technical integration, Digital Bridge created an external adapter for Chainlink to read an off-chain data. However, the developers say they can also implement an external adapter via Amazon AWS Lambda, Google Cloud Platform functions, or Docker.
Digital Bridge's solution avoids man-in-the-middle attacks with the help of a SHA256 hash algorithm of the PIN.
The following cases are examples where added 2FA can increase security:
- Confirm high-value trades or transactions;
- Confirm changes to sensitive contract settings;
- Temporarily delegate a set of tasks to an employee;
- Reconfirmations of security authorization within Apps that employ time-based lockouts.
Earlier in October, Orion Protocol, the DeFi platform building B2B and B2C solutions, announced an upcoming integration and exclusive partnership with Chainlink. The integration will see all of Chainlink’s oracles serve as a reference price for issuing loans and triggering on-chain liquidations in Orion’s Decentralized Brokerage.
Integrating Chainlink’s secure, decentralized price feeds is a vital step in bringing trustless settlement to Orion Protocol, particularly by ensuring that all broker services are fully collateralized by ORN.
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