What is OTP?
OTP refers to a one-time password or a one-time pin. It is a new model introduced as a security key for secured work or for accessing personal information. It is a temporary one-time password created for safe use. OTP is created only for one session at a time and is highly secured or can say a confidential code for security purposes. OTP is usually a 4-6 digits code used as a password for secure payments or for some official works.
Nowadays computers, mobile phones, and many such applications are working on an OTP basis.
Basically, there are two types of OTP generated they are HOTP (Hash-based message authentication code HMAC, which in Lyman’s terms HMAC-based One-Time Password) & TOTP (Time-based One-Time Password).
It is a security token generated by the user themselves for easy recognition as the only person to access the file, network, or service.
OTP is also said to be one-time generated dynamic passcode or password to go through or to safely access a file or a service.
What is One Time Password?
OTP stands for “One-Time Password”, which is also known as One-Time PIN or Dynamic Password. It is a password for a computer or digital device that is used only once for one session or one transaction.
OTP or One Time Password is a 4 or 6-digit security code. For example, when you transact online or shop online on an e-commerce website, you will receive a security code via SMS from the bank on your registered mobile number after filling in the banking details. This security code is called OTP. This OTP can be used only once for any session or transaction. That is, once used this code cannot be used again. So you will need a new OTP to complete a new session or transaction.
OTP is a mechanism that provides safe entrance or safe logging in on any network or service. Every time it’s a unique code generated for accessing the network or service securely. It has a unique specialty that does not work again and again, it changes after each usage session & is a different and unique code each and every time.