One Time Password: What is OTP and how it started, why it is so important

OTP Scam: What is OTP and who started it and when, see the complete details here. Why one time password is necessary for us and what can be the harm if we do not know about it.

Nowadays, most of the work is done online, OTP is an important step in getting it done. Many tasks remain incomplete without entering one time password. But have you ever wondered what is OTP after all and who did its initials and who did it. Most of you will not know that if you do not have complete information about OTP, you can put your hard earned money in danger. Wrong use of OTP and your entire bank can be empty. In such a situation, today we will tell you about every information related to OTP so that you do not get scammed with OTP and you do not become a victim of any scammer.

What is OTP and who invented it?

1. OTP is used normally online everywhere, if we talk about the full form of OTP, then its full form is One Time Password.

2. OTP is a security code which is mostly 6 to 8 digits long. OTP has to be filled for every activity from online shopping to transaction.

3. When you do an online transaction, an OTP comes on your registered mobile number to complete it. Your transaction is completed only after filling OTP.

4. Once used it cannot be used again. Apart from this, it has a validity, after which it automatically expires.

5. OTP was first used by Leslie Lamport in 1980. It used a One-Way Function (f). Seed and Hash Function were used in this algorithm.

OTP works like this

Two inputs are used to generate OTP, in which a seed and moving factor are used. The moving factor changes every time a new account is created on the authentication server, due to which you get to see a new OTP code every time. The security system of OTP is the safest and it is very difficult to change or track it.

otp scam

You must have come to know above how OTP works, but the thing to note in this is that you should not share the OTP received on your number with any unknown person in any way. Due to this, all the money will be withdrawn from your account and you will have to face huge loss. OTP comes on your email or registered number and both of these are connected from your bank account to social media platforms.