What is TOTP and why does it matter?

Time-based One-time Passcodes (TOTP) are a form of multi-factor authentication that enhances security by using software authenticator apps like Google Authenticator, Authy, and Microsoft Authenticator. These apps generate a 6-digit code every 30 seconds based on a shared secret and the current time, which users enter to verify their identity. Unlike SMS one-time passcodes, TOTPs are tied to the user's device, mitigating risks like SIM swapping attacks that can compromise SMS-based authentication. TOTP is particularly valuable for sensitive applications in sectors such as fintech and cryptocurrency, where security is paramount. Stytch offers a TOTP solution that allows developers to integrate this authentication method quickly and efficiently, providing a higher level of security assurance for organizations and appealing to tech-savvy users who prefer its robustness over SMS OTP. By offering multiple MFA options, including TOTP, SMS, biometrics, and hardware keys, organizations can cater to diverse user preferences and improve overall security adoption.

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