What separates multi-factor authentication from two step authentication?
Most people are familiar with single-factor authentication, which is simply entering your password into a profile. Two step authentication is also a popular type of security. Two step lets the user enter their password and then it follows up by sending a code to the owner’s device to verify their identity. Simple enough right? But that’s the problem, with two step authentication it makes it very easy for a hacker to get access to all of your personal information. Using multi-factor authentication, the user won’t have to worry about having their privacy invaded.
What separates multi-factor authentication from two step is that you must provide multiple credentials in different categories or ‘factors’ (which can be more than one of each). The three categories/factors include, something they have, something only they would know, and what they are (with biometric credentials). We’ve excluded SMS Token given that this is another device based Token, and it’s susceptible to man-in-the-middle attacks when not being used in a multi-factor environment.
Once the user logs into Mi-Token, they must use a soft or hard token (something they have – Mi-Token offers its own Crystal Hard Token, supports Yubikey and many other OATH based Tokens) along with a PIN number or code (something they know). Since the code is not stored on the device, it is considered multi-factor authentication. With two step, the code or Token is stored on (sent to) the device and could be compromised. Using multi-factor methods of security, it’s exponentially more difficult for a hacker to access credentials from different locations.
Mi-Token uses different levels of authentication to complement the user’s situational security needs. For example, if you are in the comfort of your own home it would only be necessary for you to simply login with your password; but if you’re overseas you’ll need to implement a second or third credential to ensure internet safety. President of Mi-Token, Steven Medcalf, discussed why he would recommend multi-factor over two step authentication. Medcalf mentioned that both multi-factor and two step are both better options than a single-factor method. However, there is still a higher risk of theft if your only choice of internet security is two step authentication. Medcalf stated, “Implementing multi-factor authentication will be mandated in many governments around the world including the US Federal Government’s Cyber Security Plan, also where Credit Card information is stored (PCI DSS)”. Medcalf also believes that it is relatively simple to build in multi-factor security when building applications. He stated “It is generally more difficult to do later rather than considering it upfront.” Mi-Token has built a highly functional API that makes the build relatively straight forward, with a targeted pricing model for application only multi-factor authentication.
At the end of the day, Mi-Token’s goal is to provide high quality internet security to its user’s along with making it easy to navigate. Mi-Token is currently working on using biometric credentials (eg. fingerprint and face recognition) to make a user’s login experience effortless! Not only do these factors decrease the amount of identity theft, but combined with Mi-Token’s technology it becomes nearly impossible to breach. Mi-Token offers multi-factor authentication that is secure and flexible to protect an individual or an organisation’s identity.
To find out more about our multi-factor authentication system visit: https://www.mi-token.com