Authcoin: Validation and Authentication in Decentralized Networks
This addresses security and trust issues in decentralized networks for users and organizations, though it appears incremental as it builds on existing blockchain and authentication concepts.
Authcoin tackles the problem of validation and authentication in decentralized networks by combining a challenge-response process with blockchain storage, resulting in a system that is more resilient to sybil attacks compared to existing public key infrastructures.
Authcoin is an alternative approach to the commonly used public key infrastructures such as central authorities and the PGP web of trust. It combines a challenge response-based validation and authentication process for domains, certificates, email accounts and public keys with the advantages of a block chain-based storage system. As a result, Authcoin does not suffer from the downsides of existing solutions and is much more resilient to sybil attacks.