038. 2FA(2-Factor-Authentication:
Is a security process that requires two different authentication factors to access a system, network, or application which adds an extra layer of security to protect your assets and accounts.
This layer of security to the traditional username and password combination, makes it more difficult for attackers to gain unauthorized access.
Types of 2FA in blockchain:
1. Time-Based One-Time Password (TOTP): Generates a temporary code that changes every 30 seconds.
2. Biometric authentication: Fingerprint, face, or voice recognition is used.
3. Universal 2nd Factor (U2F): Uses a physical token or device to authenticate.
4. Smart Contract-based 2FA: Integrates 2FA into smart contracts for added security.
5. SMS or text message: A one-time password (OTP) is sent to your phone.
How 2FA works in blockchain:
1. User authentication: You log in to your account or wallet with your username and password.
2. 2FA prompt: You're prompted to enter a 2FA code or use a physical token.
3. Verification: The 2FA code or token is verified, and access is granted.
Benefits of 2FA in blockchain:
1. Enhanced security: Protects against phishing, password theft, and unauthorized access.
2. Improved account protection: Safeguards your assets and accounts from hacking attempts.
3. Regulatory compliance: Meets regulatory requirements for security and authentication.
4. Reduced risk: Minimizes the risk of unauthorized access and data breaches.
Popular 2FA methods in blockchain:
1. Google Authenticator (Recommended)
2. Authy
3. YubiKey
4. Ledger Live
Remember, 2FA is a crucial security measure to protect your blockchain assets and accounts. Always enable 2FA whenever possible!#Write2Earn! #BecomeCreator #BinanceSquareFamily #CryptoMarketMoves #SahmRule
