⚠️What is passkey? How to use passkey on exchanges😱

👉Passkey is a passwordless authentication method. Instead of passwords, Passkey integrates biometric authentication and device PINs to log in and use online services. It adds an upgraded layer of security for users while ensuring convenience and account safety.In addition to login, users can use Passkey for withdrawals, making transactions faster and more secure. Passkey addresses some weaknesses of traditional passwords, such as being simple, easy to guess, easy to fake, and often targeted by attacks.Passkey is an initiative by the FIDO Alliance, which includes Apple, Google, Microsoft, and other major security companies. The alliance aims to enhance cybersecurity and reduce attacks and damage caused by hackers.

👉How passkey works

Passkey works by storing and applying public and private keys within a passkey wallet.

Initially, the public key is set up on the service's server using Passkey, while the private key is stored on the user's device.

When the account owner wants to log in or perform verification, the system requires authentication. The private key stored on the device is responsible for verifying the user's identity.

Authentication can involve fingerprint scanning, facial recognition, or entering a PIN, ensuring that only the actual owner has access. Once completed, the public key then matches and verifies the information from the private key.

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