OTP stands for "One-Time Password," which refers to a unique and temporary password or verification code generated for authentication purposes. It is usually used as an additional security measure to protect sensitive information or ensure the user's identity during online transactions, logins, or account verifications.
An OTP is typically a numerical or alphanumeric code that is valid only for a single login session, transaction, or specific time duration. It is generated by a secure algorithm or system and is often sent to the user through various means like SMS, email, authenticator apps, or voice calls. The purpose of using an OTP is to prevent unauthorized access, identity theft, or fraudulent activities by providing a time-bound and random code that cannot be easily guessed or reused.
The OTP serves as a second layer of authentication, supplementing traditional passwords, pins, or security questions. It adds an extra level of security by ensuring that even if someone gains access to a user's primary login credentials, they won't be able to proceed further without the unique OTP. Once the OTP is entered and verified, it becomes invalid for any future use, thus mitigating the risk of its compromise.
OTP is widely used in various industries, including banking, e-commerce, social media, and any platform that requires secure access to user accounts. Its adoption has increased due to the growing need for enhanced security measures and protection against identity theft, data breaches, and cyberattacks.
