AuthLN Uses PoW to Deter Cybercrime by Introducing Bitcoin Financial Stakes

Mike Sires, a military veteran from Ohio, has developed AuthLN, a Proof-of-Work (PoW) authentication protocol aimed at reducing cybercrime by imposing a financial cost on unauthorized access attempts. Inspired by Jason Lowery’s thesis on Bitcoin as a digital power for national security, AuthLN uses the Bitcoin Lightning Network to deter cybercriminals. Users must stake Bitcoin to validate their identity during login processes; if successful, the stake is returned, but a failed login results in the forfeiture of this Bitcoin. This approach shifts cybersecurity strategies from reactive to proactive, aiming to make cybercrime less profitable. AuthLN targets enterprise organizations, seeking to enhance security by replacing traditional multi-factor authentication methods. During a demonstration, Sires showcased the system where users scan a QR code and stake Bitcoin via the Lightning Network. This process aims to prevent brute-force attacks and compromised credentials, addressing the vulnerability where cybercriminals face little to no cost for attempted breaches. Sires has been in discussions with various companies interested in this cybersecurity solution, representing a new wave of what he terms "cyber sovereignty," allowing organizations to protect their digital territories with PoW principles. By introducing economic incentives, Sires hopes to make cybercrime unattractive and contribute to a secure digital environment, leveraging Bitcoin’s foundational principles.