SAN JOSE, Calif.--(BUSINESS WIRE)--Verayo, a security and authentication solutions provider, today announced that it has been recognized by the prominent Wall Street Journal 2011 Technology Innovation Awards. The company was honored for the second time as the runner-up in the semiconductor category for the world’s first Physical Unclonable Functions (PUF) chip technology, designed to provide a cost-efficient secret key generation solution for secure use of NFC payment and other service applications.
“This year we received 605 entries from over 31 countries and only about six percent received an award,” said John Leger, News Editor of The Wall Street Journal. “With fierce competition from both start-ups and established large companies, Verayo received recognition for its technological achievement.”
Verayo’s silicon chip technology is based on Physical Unclonable Functions. PUFs exploit random variations to give each chip unique characteristics, or “DNA.” Since it is effectively impossible to clone, model or control the manufacturing variations, even for the chip manufacturers, PUFs makes each chip unique and unclonable. This innovative advancement in semiconductor security eliminates the need for stored secret keys as it can re-generate the fingerprints on-demand. As a low-cost security and authentication solution, the PUF KeyGen technology or Silicon “DNA” can be used in various applications including security on devices such as mobile phones and personal connected devices for identification, service access or secure transactions for banking, NFC payments and more.
“We are proud to be recognized for a second time as runner-up in the semiconductor category for The Wall Street Journal’s Technology Innovation Awards,” said Eric Duprat, CEO of Verayo. “Our silicon DNA technology based on PUFs is both a unique and low-cost secure authentication solution that can benefit many applications. We believe our technology provides the answer to the expensive and cumbersome legacy secret key generation solutions.”
Verayo will be recognized at an awards ceremony and dinner on November 8 in Redwood City, California. To learn more about Verayo’s innovative PUF technology, visit the company’s YouTube channel at www.youtube.com/verayovideo.
About Verayo
Verayo was founded in Silicon Valley in 2005. The company is focused on delivering security and authentication solutions based on its Silicon DNA technology. Verayo’s Silicon DNA technology is based on Physical Unclonable Functions (PUF) technology, which was invented and first implemented at MIT by Prof. Srini Devadas and his team. Verayo is funded by Khosla Ventures and has assembled a world-class executive team drawn from the mobile and security industries. In addition to developing commercial products for mobile and other connected devices to address the need for higher trust and security in the fast growing mobile and NFC commerce markets, the company is working on various projects for U.S. Department of Defense agencies.
For more information, visit http://verayo.com/.