All news is rigorously fact-checked and reviewed by leading blockchain experts and seasoned industry insiders.
- The German global corporation Siemens has already received its 13th patent, which references the IOTA technology.
- With the new patent, Siemens secures the right to a system for protecting application processes in which tokens, such as IOTA, are used to prevent brute force attacks.
Siemens Aktiengesellschaft has submitted a patent to the European Patent Office for the protection of login processes based on a distributed database system or a blockchain-based system such as IOTA, PIVX, Dash, Ethereum or Bitcoin Cash. Already at the end of December, statistics were published which show that IOTA’s technology is increasingly in high demand by the industry.
According to data from Iotaarchive, a total of 111 patent applications were filed by 44 companies by the end of 2019, which reference the Tangle technology. About 50% of all patents were filed by five companies: Innogy SE (Energy supplier, Germany, 25 applications), Siemens AG (Electronics, Germany, 12 applications), RWE AG (Energy supplier, Germany, 10 applications), Intel Corporation (Semiconductor, USA, 6 applications) and Merck (Pharma, Germany, 3 applications). About 77% of all patents have been published within the last year.
Siemens submits new patent for IOTA-based login process
With the latest patent, Siemens has thus already submitted the 13th patent that references the IOTA technology. The patent was granted to Siemens AG for a system for “protection of application processes”, which refers to IOTA and blockchains. The invention deals with the application process of a user at a service provider, in particular with a process for protection against brute force attacks.
The document describes that common login processes at service providers have numerous weaknesses with regard to brute force attacks. In such an attack, hackers automatically test username/password combinations to guess the correct credentials. If a “simple” password was chosen by the user, the probability that the access data can be hacked increases significantly.
In the patent, Siemens refers to the method as an “opt-in deposit based approach”. Under this approach, a small deposit is required for each login attempt, which is refunded immediately after successful registration. This makes brute force attacks very quickly costly and thus uneconomical. Siemens describes the process in detail using IOTA, PIVX and other payment protocols as follows:
According to the method of the invention, thelogin process is advantageously secured by directly ex-ecuted transactions, which can be micro-financial valuetransactions, such as those made possible by distributeddatabase systems or blockchain-based systems, suchas IOTA, PIVX, or corresponding public payment proto-cols with consent and validation mechanisms.
Specifically, Siemens has applied for a patent on a user logon system used at a service provider and a method that includes “the transmission of an initial financial value from the user to a token provider for a temporary logon token”. Siemens has patented various implementation options for the implementation.
Among other things, a patent has been applied for on a method in which the first and second financial value are transmitted using a distributed database based on blockchain technology. In addition, a patent application was filed for the IOTA protocol:
The method according to one of the precedingclaims, wherein the first and the second financial val-ues are transferred using the micropayment protocol IOTA.
As further stated in the patent, the transmission of the tokens must be based on a method that executes transactions immediately, without delay, and does not require transaction costs.
Ideally, a procedure is used that doesnot generate transaction fees for the user. Therefore, itis advantageously based on a distributed database, pref-erentially on a database based on blockchain technology,such as one of the micropayment protocols IOTA, PIVX,ETHEREUM, DASH and BITCOIN CASH.
According to the patent, the use of a distributed database and the temporary login token makes the transfer of the tokens more secure, faster and, if necessary, anonymous, which means that there is no need to pre-register the user before the login process:
The first and the second financial values can betransferred using a database based on blockchain technology. Further, smart contracts can be used as basisfor the transfer of the financial value combined with thetransfer of the temporary login token. In particular, thefirst and the second financial values can be transferredusing a micropayment protocol chosen from the groupcomprising IOTA, PIVX, ETHEREUM, DASH and BITCOIN CASH.
The latest patent application from Siemens shows that IOTA is receiving increasing attention from industrial companies. Fundstrat has recently published a study according to which IOTA could become the worldwide standard in the area of machine-to-machine payments. If successful, IOTA could reach a market capitalization of 200 to 400 billion USD, according to Fundstrat.
Follow us on Facebook and Twitter and don’t miss any hot news anymore! Do you like our price indices?
