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The Rise of Passkeys: A Secure Alternative to Traditional Passwords

The implementation of passkeys as a safer method for website access has been slower than anticipated. However, recent findings from Dashlane indicate a notable increase in consumer adoption of this technology.

The research highlights that the shift towards passkeys is primarily occurring within the consumer market, with frequently used applications, often referred to as “sticky” apps—such as Facebook and X—leading in adoption rates.

Among the most rapidly emerging platforms for passkey usage are Amazon, reporting an 88.9 percent growth, followed by Target at 70.5 percent, and Moneybird with a 60.4 percent increase. Additionally, there is traction in the enterprise sector as well, with tools like Cisco Duo making their way into the top 20 passkey-enabled domains.

Currently, Dashlane records about 200,000 passkey authentications per month, marking an impressive over 400 percent growth in just six months. Notably, around 20 percent of active Dashlane users now have at least one passkey stored in their credential vaults.

In terms of distribution, eCommerce platforms constitute the largest segment of passkey usage at 41.7 percent, followed by software services at 19.9 percent, financial services at 14.4 percent, cybersecurity at 12.7 percent, and social media at five percent.

Furthermore, the cryptocurrency sector is rapidly adopting passkey technology as well, with platforms like Coinbase and Binance appearing among the top 20 domains utilizing this authentication method to safeguard user wallets from potential breaches.

John Bennett, CEO of Dashlane, remarked on the situation:

“Passwords have long been a drag on the digital economy. The user friction caused by forgotten passwords and password resets costs businesses millions in lost revenue and time. Compromised and weak passwords remain at the heart of most breaches, causing immense financial and reputational harm.”

He elaborated that the transition towards passkeys in place of traditional passwords not only enhances security but also improves user experience by minimizing login difficulties and providing authentication that is resistant to phishing attacks. This shift holds promise for both businesses and users by fundamentally altering how access to applications and services is managed.

For further information, you can visit the Dashlane site.

Source
betanews.com