Each online service account requires you to create a user & password, that is terrible user experience, not to mention that it can get hacked or you could forget your passwords . With this tool you wont need more login and passwords for every website. Hand them your public key and sign a login message to authenticate yourself. It removes the need to use passwords for each account(thus eliminating the need for a password manager), and by the fact that you need your crypto wallet, it is a 2FA(two factor authenticator) by default.
Because using password is terrible.
Your browser extension web wallet is great, it comes handy when you need to pay online. However, that is the smallest part of your needs online. Most of the time you must manage each of your accounts with service providers. You must authenticate to access their service, most of the time by username and password. Your service provider stores those users & passwords, and when they get hacked, your account passwords end up floating on the internet. To reduce that risk you use password managers, to use a different password on every service & keep track of it.
Wouldn’t it be awesome if your wallet would take care of authenticating you? Your wallet can sign authentication messages. Then it is your keys, your coins, your accounts. You are in complete control & ownership.
It is already possible. In the Hive blockchain, they use this system to authenticate users, their web extension wallet manages different types of keys. One for authentication to their social network, one for spending your funds. Their innovation can be incorporated to be compatible with Cardano and allow us to profit from it and use also our own innovations. It will unlock, as it has done in Hive, not only social media applications, but the highest growing sector in crypto: Gaming.
