These authentication methods are based on the FIDO standard and utilize a cryptographic key pair, ensuring sensitive data is never compromised.

The adoption of passkeys is surging, with password manager Dashlane reporting a 400% increase in usage since early 2024, reflecting a growing recognition of their advantages.

Major tech companies, including Apple, Google, Microsoft, and Samsung, are advancing towards a passwordless future by promoting the adoption of passkeys.

Passkeys are becoming a preferred alternative to traditional passwords, leveraging cryptographic techniques and biometric authentication to enhance online security.

By eliminating the need for users to remember complex passwords, passkeys reduce password fatigue and improve the overall login experience.

Governments and regulators are advocating for stronger authentication measures, with initiatives like the EU's GDPR and the US Executive Order 14028 promoting phishing-resistant multi-factor authentication.

The FIDO Alliance has introduced draft specifications for two new standards, the Credential Exchange Protocol (CXP) and Credential Exchange Format (CXF), aimed at enabling secure passkey transfers between devices.

Currently, transferring passkeys between different platforms remains complicated, prompting the FIDO Alliance to develop solutions to simplify this process.

There are two types of passkeys: synced passkeys, which are stored in the cloud for easy access across devices, and device-bound passkeys, which enhance security by being tied to a specific device.

The benefits of transitioning to a passwordless system include improved security against phishing attacks, a better user experience with quicker logins, and the establishment of passkeys as the new authentication standard.

Passkeys have shown to significantly improve sign-in times by up to 75% and increase success rates by 20% compared to traditional passwords and SMS-based two-factor authentication.

Recent developments include Apple launching a native iOS app for managing passkeys and Google integrating passkey protection for Gmail users, further enhancing the user experience.