The startup develops a blockchain-based identification system that utilizes an encrypted venous network to create a tamper-proof digital identity. This technology eliminates the need for credit cards, passwords, and keys, enabling secure access to networks and simplifying transactions for users.
Funding
$550K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Existing methods for securing digital assets and identities rely on passwords, seed phrases, and other authentication methods that are prone to loss, theft, and cyberattacks. Current biometric identification systems often require storing sensitive biometric data, raising privacy concerns and increasing the risk of data breaches.
Solution
Archethic provides a blockchain-based ecosystem that enables users to secure their digital identities and assets through biometric authentication, eliminating the need for traditional passwords and seed phrases. The Archethic Public Blockchain utilizes a unique transaction chain and ARCH Consensus mechanism to achieve scalability, security, and decentralization. The platform's decentralized identity system generates cryptographic keys from finger vein patterns without storing any biometric data, ensuring privacy and security. This technology facilitates secure access to various services and applications, promoting a password-free digital world built on user empowerment.
Target Audience
The primary target audience includes individuals seeking secure and user-friendly solutions for managing their digital identities and assets, as well as developers looking to build decentralized applications on a scalable and secure blockchain platform.
Features
- Biometric authentication using finger vein patterns for secure and password-free access to digital assets and identities
- Decentralized identity system that generates cryptographic keys without storing biometric data
- ARCH Consensus mechanism for scalable, secure, and decentralized transaction validation
- Transaction Chain technology that merges the capacity of millions of blockchains
- Hot wallet for secure storage, transfer, and swapping of cryptocurrencies
- Ecosystem of tools and services, including a decentralized exchange (aeSwap), bridge (aeBridge), and explorer (aeExplorer)
- Support for WASM smart contracts, decentralized identifiers, and distributed web hosting