Time-based One-Time Password (TOTP) Definition and Examples

Understanding TOTP for e-Signing

In today's digital age, security is paramount, especially when dealing with sensitive documents and electronic signatures. Time-based One-Time Passwords (TOTP) represent a critical layer of security that many e-Signature platforms, including GoodSign, incorporate to ensure authenticity and prevent unauthorized access.

What is TOTP?

A Time-based One-Time Password (TOTP) is a temporary, dynamic passcode generated using the current time as a factor. Unlike static passwords, which remain unchanged until manually updated, a TOTP is continually refreshed at short intervals (typically every 30 seconds). This timing mechanism makes it extremely difficult for malicious actors to reuse intercepted codes, thereby enhancing security.

How Does TOTP Work?

The TOTP algorithm uses a shared secret key between the authenticating server and the user's device, combined with the current time, to generate a unique code. Here's a step-by-step breakdown:

1. Shared Secret: A unique secret key is shared between the server and the user's authentication app (like Google Authenticator).
2. Current Time: The current time is divided into 30-second intervals.
3. Code Generation: Using the secret key and the time interval, a hashed value is produced.
4. Passcode Display: The hashed value is then converted into a 6-8 digit numeric code displayed on the user's app.

Examples of TOTP in Use

• e-Signing Documents: When signing a document on GoodSign, users may be prompted to enter a TOTP to verify their identity. The user opens their authentication app, retrieves the code, and enters it into the platform, ensuring that only authorized parties are signing sensitive documents.
• Financial Transactions: Financial institutions often employ TOTP for two-factor authentication during login or high-value transactions, providing extra security beyond just a password.
• Access Control: Many companies use TOTP to secure access to sensitive systems and data, ensuring that even if a password is compromised, unauthorized access is still prevented.

The GoodSign Advantage

At GoodSign, we understand the importance of security without the burden of extra costs. By integrating TOTP as part of our pay-per-use e-Signing service, we offer uncompromised security for just $1.50 per envelope sent. No extra charges for team members, no feature gating – just secure, flexible, and affordable e-signature solutions.

Embark on your e-signing journey with GoodSign today and experience the perfect blend of security and simplicity. Visit goodsign.io to get started.