![]() ![]() HOTP stands for "hash-based one-time password", therefore it is based on hash-based message authentication codes. HOTPs are one-time codes based on events. These authentication codes can be based on events (HOTP) or on time (TOTP). One-time passwords are frequently used as a complementary authentication factor in multi-factor authentication processes, but it can also be the sole method to authenticate a user. In the unlikely event that a third user would take over the user’s device and hack the one-time code, this can only be used once. This makes OTPs a pretty secure system to recover accounts or add an extra layer of security to them. Unlike passwords, users can only use one-time codes once. It is usually compounded by 4 to 6 characters that the user has to enter in order to verify their identity. ![]() But what are HOTPs and TOTPs? Do you want to know the difference between them? Which one is more recommended? What is an OTP?Ī one-time password or OTP is a unique code that is sent to a user, normally to their email or phone. In general terms, two different types of OTPs can be distinguished - HOTPs and TOTPs. You probably used them as a user, but when it comes to implementing them in your own verification system, what kind of OTP is more suitable? OTP stands for "one-time password" and it is frequently used as an additional verification factor in multi-factor authentication systems. In order to protect users’ from password theft and account takeovers, multi-factor authentication with one-time passwords is heavily used. With these, we realized strong authentication and secure transaction information exchange protocol for online banking.Protecting users’ identity online has become one of the most important challenges in the online world. The protocol in this paper is designed using Biohashing, a biometric template protection technique and dual cryptographic algorithm that combines Advanced Encryption Standard (AES) and Data Encryption Standard algorithms. In this paper, we propose a cancellable biometric based authentication protocol which guarantees secure mutual authentication, customer privacy and offer a secure end-to-end transmission of customer transaction data. Many authors have proposed various solutions to address the online banking security problem but while some focus solely on client authentication, others dwell only on security of the data transfer channels. Away from the benefits is the issue of security of customer transaction data and customer privacy. Bank customers enjoy online banking as it provides them with anytime, anywhere banking experience. Banks obtain competitive advantage and increased productivity through the adoption of online banking. One of the businesses that have embraced the use of the internet to provide services to their customers is the banking sector. Undeniably, most businesses in both the public and private sectors now provide their services online through the internet. The internet revolution has brought significant benefits to humanity. So user will not be worry for security while using our proposed system. The system we called it as strong authenticated because along with double encryption we will be provide International Mobile Equipment Identity (IMEI) as well as Short Message Service (SMS) alert facilities in case of stolen or lost mobile phones. So we are going to proposed secure online transaction system using MOTP (Mobile one-time password) and identity based Double Encryption for banking purpose which will try to overcome limitations of previous system and making strong authentication based transaction system available for permitted users. But these facilities have limitations to some extent. Main issues in that is password hacking, in response, banks and other financial institutions have developed technologies like device identification, one-time password (OTP), Automated Transaction Machine (ATM) etc. One of the well-known applications of networking system is banking on which we are going to focus to provide security. It is one of the biggest and challenging domain in the various fields where communication based activities continuously happened and security need to the data is high. Network security consists of different policies and rules predefined by its administrator to avoid illegal access, any modification in network or its accessible resources. ![]()
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