AuthLN’s Mike Siers on harnessing Bitcoin’s lightning network to revolutionize cybersecurity

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In a recent SlateCast episode, CryptoSlate’s Editor-in-Chief, Liam “Akiba” Wright, spoke with AuthLN Founder Mike Siers about leveraging Bitcoin’s Lightning Network to address the massive problem of cybercrime. Drawing on his background as a military veteran, Siers explained how his proof-of-work-based authentication approach can impose genuine costs on would-be attackers.

Mounting Cyber Threats and the Need for Change

Modern society relies heavily on digital infrastructure, yet hacks and data breaches continue to escalate. According to Siers, losses from cybercrime in 2024 alone are estimated at 9.5 trillion dollars, far eclipsing the comparatively smaller sums often highlighted in crypto-related thefts.

“There are massive cyber attacks happening every single day,” he said. “We’re just going on as if everything is normal and our entire world is anchored online.”

Siers argued that current security measures, such as firewalls and password protections, often act more like puzzles that attackers can eventually solve. “At the end of the day… attackers have the advantage of time,” he pointed out. “There really is no deterrence factor.”

Introducing Proof-of-Work Authentication

AuthLN seeks to close this gap by applying Bitcoin’s proof-of-work concept to authentication. As Siers put it:

“What AuthLN is doing is introducing a cost mechanism via proof of work that wasn’t there before, that you’re going to need to satisfy prior to making any authentication attempt.”

In practical terms, users (especially at an enterprise or nation-state level) must place a certain amount of Bitcoin as collateral through the Lightning Network before even trying to log in. If credentials fail to match, the collateral is forfeited—instantly turning break-in attempts into a costly gamble. Conversely, authorized users who “fat-finger” a password can still be protected by arrangements between AuthLN and their organization.

Why the Lightning Network?

Asked why AuthLN turned to Bitcoin, Siers highlighted the robust and global nature of the Lightning Network. Its near-instant settlements and small transaction capabilities make it particularly suitable for continuous authentication requests. By embedding financial risk into every login attempt, attackers are forced to weigh real monetary costs.

Wright noted that one of the major appeals of AuthLN’s approach is its simplicity.

“I think it’s unbelievably elegant,” he said. “It’s one of those things that you look at and go, ‘Why has no one done this before?’”

Challenges and Future Plans

Despite excitement from some corners of the Bitcoin community, Siers acknowledged the uphill battle in convincing traditional cybersecurity circles.

“I get hit by Bitcoiners, cybersecurity people, [and] venture capitalists,” he said with a laugh. Overcoming these hurdles, he believes, is vital to establishing monetary deterrence as a cybersecurity standard.

AuthLN is focusing initially on enterprise and government-level organizations, with pilot programs underway. According to Siers, the public can expect more news on large-scale deployments by late summer.

“We’re not rushing for accolades,” he emphasized. “We care about helping our customers, helping humanity, and doing something pivotal.”

Looking Ahead

Siers sees even wider applications on the horizon, especially with the advent of AI-driven bots. As he pointed out, sophisticated AI has little trouble acquiring usernames or passwords, but “do they have enough energy to get past your wall?” By forcing attackers—human or automated—to wager real Bitcoin, AuthLN aims to tip the balance away from the limitless puzzle-solving that defines much of today’s hacking ecosystem.

The post AuthLN’s Mike Siers on harnessing Bitcoin’s lightning network to revolutionize cybersecurity appeared first on CryptoSlate.

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