Biometric authentication refers to the use of biological characteristics — such as fingerprints, facial/voice recognition, or iris scans — to verify the identity of users before granting access to their digital assets and accounts or executing transactions.
Biometric authentication often complements traditional security measures like passwords and PINs to provide multi-factor authentication (MFA), making it harder for unauthorised users to access accounts. It is unique to each individual, which reduces the risk of theft or impersonation compared to traditional passwords.
Biometrics can simplify the authentication process, allowing users to access their accounts quickly and easily without compromising security. Some systems use continuous biometric authentication to ensure that the person using the device or system is the same person who initially logged in.
Biometric authentication also can be used for secure access to cryptocurrency wallets, ensuring that only the rightful owner can perform transactions. Some platforms may use biometrics to verify the identity of users before approving high-value or sensitive transactions.
However, the use of biometric data raises privacy concerns, as this data is highly sensitive and personal, and requires robust encryption and data protection measures. Though biometrics enhances security, it is not foolproof, and there are risks associated with biometric data breaches and spoofing attacks.
