Crypto Terms: Letter G

What is Google Authenticator?

Meaning:

Google Authenticator - software-based verification system that generates unique, time-based, single-use authentication codes on mobile devices.

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Let's find out Google Authenticator meaning, definition in crypto, what is Google Authenticator, and all other detailed facts.

Google Authenticator is a software-based verification system that generates unique, time-based, single-use authentication codes on mobile devices. The system is used to verify the identity of the user and allow them to access websites or applications. It was developed as an additional layer of digital security.

When users try to log into an account, Google Authenticator sends a code to their mobile devices to ensure the account is secure from breaching attempts. The code is time-sensitive and can only be accessed from a specific mobile device. If the hacker has the login details but doesn’t have access to the phone, they cannot break into the account.

Google Authenticator functions as two-factor authentication (2FA). Even if the SIM card of a mobile device is stolen, it does not contain the Google Authenticator codes, making it useless in the hacking process.

The security of private data is a significant topic in the digital world. There have been multiple instances of hackers claiming assets or personal information on online users because the login credentials were not appropriately secured. The losses from such digital attacks can be valued at millions and even billions of dollars.

Most online digital platforms rely on passwords to provide secure access to the services. While this login system is considered to be one of the most secure ways of protecting an account, it can be compromised and does not guarantee 100% security. Malware attacks and hacking can lead to sensitive information being stolen.

Google Authenticator was developed to reinforce the security of login details and put a tighter lock around the user data. The protected account can be accessed with a few easy steps:

Download the Google Authenticator app;
Log into your account;
Add an account you want to secure, for example, the login credentials of your Binance digital wallet;
Tap the “+” symbol and select “Scan a QR code”. Your Binance account will provide the QR code;
Scan the code to access your account;
Binance may prompt you to enter a special six-digit code from the Google Authenticator app. This code changes every 15 seconds;
Ensure that your setup key is stored safely somewhere you can access.

Ensuring the security of financial data and assets is crucial in both traditional and cryptocurrency markets. Users are strongly recommended to set up 2FA on their banking accounts. There have been several notable instances of large sums of cryptocurrency being stolen by hackers, so it’s important to minimize the risks as much as possible.

Google Authenticator ensures that the only person with access to the crypto assets must also hold access to a specific mobile device and quickly respond to the prompted code request. This ensures that the hackers do not have a time advantage to breach accounts.

peer-to-peer network<\/strong>. The term is a play on words derived from everyday gossip.<\/p>\nThis term is often used in computer science. Here, the gossip protocol outlines the communication within a distributed network. The communication itself happens when the information is transmitted between other computer <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-node/">nodes. /n
Gossip protocol entails the broadcasting of information between multiple computers until every computer has received it<\/strong>. <\/p>\nThere is a variety of different Gossip protocols. Every one of them has been developed based on the needs of the end-user, or even specific circumstances or environment. <\/p>\nHashgraph, a <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-distributed-ledger-technology-dlt/">distributed ledger technology<\/strong><\/a>, is one of the few examples that facilitate the gossip protocol. It was launched by Leemon Baird. Hashgraph implements an asynchronous Byzantine Fault Tolerance (aBFT) consensus mechanism.<\/p>\nIn this case, the network nodes collect and summarize transaction-related data and distribute it among random neighbor nodes. Hashgraph builds a data-filled tree of events, unlike a <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-blockchain/">blockchain building a chain of blocks.<\/p>\n\u200b\u200bMárk Jelasity, a professor at the University of Szeged, states that gossip manifests itself in one of two ways: information aggregation<\/strong> a.k.a. distributed data mining, or information dissemination<\/strong> a.k.a. multicast.<\/p>\nInformation aggregation gossip type summarizes and distributes information. Meaning it directly processes said information. Meanwhile, information dissemination gossip type operates like a traditional data distribution model.<\/p>\nThey are the main components of distributed systems on a large scale.<\/p>","definition":"peer-to-peer communication between any type of digital device.","status":"published","meta_title":"What is Gossip Protocol? Definition & Meaning | Crypto Wiki","meta_description":"Gossip Protocol meaning: Gossip Protocol - peer-to-peer communication between any type of digital device.","meta_keywords":null}" :prev-section="{"id":441,"wikipedia_url":"https:\/\/en.wikipedia.org\/wiki\/Moving_average_crossover","level":"medium","author_id":1,"created_at":"2023-06-19T06:59:00.000000Z","updated_at":"2023-12-08T02:06:52.000000Z","slug":"what-is-golden-cross","title":"What is Golden Cross?","section":"G","keyword":"Golden Cross","content":"A golden cross is a chart pattern that occurs when the short-term moving average crosses over the long-term moving average. In other words, the golden cross is a bullish breakout structure formed when a security's short-term moving average crosses beyond its long-term moving average or barrier properties level.<\/strong><\/p>\nThe most widely-used moving average setting is the 50-day moving average and the 200-day moving average.<\/p>\n<h3>The Trading Technique of the Golden Cross<\/h3>\nThe most secure and widely-used technique is to make an entry into the market at the same time the golden cross is created. Nevertheless, a few traders also step into the market as soon as the moving averages move in a direction to create the golden cross to earn the benefit of entering the market prior to the creation.<\/p>\nThe majority of traders utilize the golden cross with multiple technical indicators to evaluate the volume and price activity from different angles prior to deciding on whether to buy or sell.<\/p>\n<a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-moving-average-convergence-divergence-macd/">Moving average convergence divergence (MACD)<\/strong><\/a>, <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-on-balance-volume-obv/">on-balance volume (OBV)<\/strong><\/a>, <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-accumulation-distribution-indicator/">accumulation//distribution indicator<\/strong><\/strong><\/a>, <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-relative-strength-index-rsi/">relative strength index (RSI)<\/strong><\/a>, and the <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-stochastic-oscillator/">stochastic oscillator<\/strong><\/a> are among the technical indicators.<\/p>\n<h3>The Three Main Stages of the Golden Cross<\/h3>\nThe first phase denotes the conclusion of the downtrend as the gap (denoting volume) in the 50-day and 200-day moving averages begins to narrow.<\/p>\nThe 50-day moving average meets the 200-day moving average to produce a golden cross in the second phase.<\/p>\nThe final phase is the upswing that occurs following the appearance of the golden cross. This is generally an excellent time to invest in an asset to get the most rewards as the rise unfolds.<\/p>\nFor many traders, a golden cross is the most conclusive evidence of a <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-bull-market/">bull market<\/strong><\/a> and a powerful purchasing indicator. Yet, for others, it is merely a verification instead of a signal to enter the market. Expert traders suggest not to use the golden cross as a stand-alone trading signal, but rather as part of a strategy.<\/p>\n<h3>Can Traders Trust the Golden Cross?<\/h3>\nWhen it comes to the golden cross indication, there could be doubt and disagreement among financial professionals. Nonetheless, it has done exceptionally well in recent years. <\/p>\nThe S&P index<\/strong>, for instance, rose by more than 50% since the last golden cross shown on its trading graphs.<\/p>","definition":"When the short-term moving average crosses over the long-term moving average, a golden cross appears on the chart.","status":"published","meta_title":"What is Golden Cross? Definition & Meaning | Crypto Wiki","meta_description":"Golden Cross meaning: Golden Cross - When the short-term moving average crosses over the long-term moving average, a golden cross appears on the chart.","meta_keywords":null}" :model="{"id":393,"wikipedia_url":"https:\/\/en.wikipedia.org\/wiki\/Google_Authenticator","level":"medium","author_id":1,"created_at":"2023-06-19T06:58:59.000000Z","updated_at":"2023-12-08T03:58:48.000000Z","slug":"what-is-google-authenticator","title":"What is Google Authenticator?","section":"G","keyword":"Google Authenticator","content":"Google Authenticator<\/strong> is a software-based verification system that generates unique, time-based, single-use authentication codes on mobile devices. The system is used to verify the identity of the user<\/strong> and allow them to access websites or applications. It was developed as an additional layer of digital security.<\/p>\nWhen users try to log into an account, Google Authenticator sends a code to their mobile devices<\/strong> to ensure the account is secure from breaching attempts. The code is time-sensitive and can only be accessed from a specific mobile device. If the hacker has the login details but doesn’t have access to the phone<\/strong>, they cannot break into the account.<\/p>\nGoogle Authenticator functions as <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-two-factor-authentication-2fa/">two-factor authentication (2FA)<\/strong><\/a>. Even if the SIM card of a mobile device is stolen, it does not contain the Google Authenticator codes, making it useless in the hacking process.<\/p>\nThe security of private data<\/strong> is a significant topic in the digital world. There have been multiple instances of hackers claiming assets or personal information on online users because the login credentials were not appropriately secured. The losses from such digital attacks can be valued at millions and even billions of dollars.<\/p>\nMost online digital platforms<\/strong> rely on passwords to provide secure access to the services. While this login system is considered to be one of the most secure ways of protecting an account, it can be compromised and does not guarantee 100% security. <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-malware/">Malware attacks<\/strong><\/strong><\/a> and <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-hacking/">hacking can lead to sensitive information being stolen.<\/p>\nGoogle Authenticator was developed to reinforce the security of login details and put a tighter lock around the user data. The protected account can be accessed with a few easy steps:<\/p>\n<ul>\n<li>Download the Google Authenticator app<\/strong>;<\/li>\n<li>Log into your account;<\/li>\n<li>Add an account you want to secure, for example, the login credentials of your <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//goon//binance/" target=\"_blank\" rel=\"nofollow noindex noopener\">Binance<\/strong><\/a> digital wallet;<\/li>\n<li>Tap the “+” symbol and select “Scan a QR code”. Your Binance account will provide the QR code;<\/li>\n<li>Scan the code<\/strong> to access your account;<\/li>\n<li>Binance may prompt you to enter a special six-digit code from the Google Authenticator app. This code changes every 15 seconds;<\/li>\n<li>Ensure that your setup key is stored safely somewhere you can access.<\/li>\n<\/ul>\nEnsuring the security of financial data and assets is crucial in both traditional and<\/strong> <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-market/">cryptocurrency markets<\/strong><\/a>. Users are strongly recommended to set up 2FA on their banking accounts. There have been several notable instances of large sums of cryptocurrency being stolen by hackers, so it’s important to minimize the risks as much as possible.<\/p>\nGoogle Authenticator ensures that the only person with access to the crypto assets must also hold access to a specific mobile device<\/strong> and quickly respond to the prompted code request. This ensures that the hackers do not have a time advantage to breach accounts.<\/p>","definition":"software-based verification system that generates unique, time-based, single-use authentication codes on mobile devices.","status":"published","meta_title":"What is Google Authenticator? Definition & Meaning | Crypto Wiki","meta_description":"Google Authenticator meaning: Google Authenticator - software-based verification system that generates unique, time-based, single-use authentication codes on mobile devices.","meta_keywords":null,"author":{"id":1,"user_id":1,"created_at":"2023-05-03T14:30:55.000000Z","updated_at":"2023-05-11T07:18:20.000000Z","title":"Editor-In-Chief","slug":"aaron-s-editor-in-chief","description":"Having completed a Master’s degree on Economics, Politics & Culture for the East Asia region, Aaron has written scientific papers with a comparative analysis of the differences between US’ Western and Japan’s Collective forms of capitalism, 1945-2020.<\/p>\nWith close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.<\/p>\nAaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.<\/p>\nAaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.<\/p>","user":{"id":1,"first_name":"Aaron","last_name":"S.","email":"aaron@bitdegree.org","email_sanitized":"aaron@bitdegree.org","email_verified_at":"2023-12-01T09:40:20.000000Z","must_verify_email":false,"is_registered_with_wallet":false,"status":"active","country":"LT","last_connected_ip":"88.119.132.125","image_id":2641,"referral_token":"05TMu2NysXOCn525","referred_by":null,"created_at":"2023-05-03T14:30:55.000000Z","updated_at":"2024-01-09T15:22:21.000000Z","full_name":"Aaron S."}}}" :chapter-list="[{"id":1,"title":"Blockchain","slug":"blockchain","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-blockchain.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/blockchain-101.jpg","rating":100,"sections":[{"chapter_id":1,"order":1,"slug":"what-is-blockchain","title":"What is the Blockchain?","status":"published","modified_content":null},{"chapter_id":1,"order":2,"slug":"decentralized-blockchain","title":"Anonymous & Decentralized Blockchains: The Cornerstone of Crypto","status":"published","modified_content":null},{"chapter_id":1,"order":3,"slug":"blockchain-transaction","title":"What is a Blockchain Transaction in Crypto?","status":"published","modified_content":null},{"chapter_id":1,"order":4,"slug":"crypto-fees","title":"The Different Types of Crypto Fees Explained","status":"published","modified_content":null},{"chapter_id":1,"order":5,"slug":"what-is-bridging-in-crypto","title":"The Key Notion Behind the Concept of Bridging in Crypto","status":"published","modified_content":null},{"chapter_id":1,"order":6,"slug":"types-of-blockchains","title":"Different Types of Blockchains: What to Look Out For?","status":"published","modified_content":null}]},{"id":2,"title":"Cryptocurrencies","slug":"cryptocurrencies","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-cryptocurrencies.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/cryptocurrencies-101.jpg","rating":100,"sections":[{"chapter_id":2,"order":1,"slug":"what-is-a-cryptocurrency","title":"What is a Cryptocurrency?","status":"published","modified_content":null},{"chapter_id":2,"order":2,"slug":"how-does-cryptocurrency-work","title":"How Does Cryptocurrency Work?","status":"published","modified_content":null},{"chapter_id":2,"order":3,"slug":"is-cryptocurrency-a-good-investment","title":"Is Cryptocurrency a Good Investment? The Pros & Cons","status":"published","modified_content":null},{"chapter_id":2,"order":4,"slug":"coin-vs-token","title":"Coin VS Token: How Do They Differ?","status":"published","modified_content":null},{"chapter_id":2,"order":5,"slug":"what-are-stablecoins","title":"What are Stablecoins, Altcoins & Wrapped Coins?","status":"published","modified_content":null},{"chapter_id":2,"order":6,"slug":"what-is-a-bitcoin","title":"Bitcoin: the Pioneer of the Crypto World","status":"published","modified_content":null},{"chapter_id":2,"order":7,"slug":"what-is-ethereum","title":"The Ultimate Blockchain for dApp Creation: Ethereum","status":"published","modified_content":null},{"chapter_id":2,"order":8,"slug":"what-is-cardano-in-crypto","title":"What is Cardano and What is It Used For?","status":"published","modified_content":null},{"chapter_id":2,"order":9,"slug":"what-is-shiba-inu-coin","title":"Shiba Inu: the Dogecoin 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Wallet?","status":"published","modified_content":null},{"chapter_id":4,"order":2,"slug":"hot-wallet-vs-cold-wallet","title":"Hot Wallet VS Cold Wallet: Which One to Pick?","status":"published","modified_content":null},{"chapter_id":4,"order":3,"slug":"non-custodial-wallet","title":"What are Non-Custodial Crypto Wallets?","status":"published","modified_content":null},{"chapter_id":4,"order":4,"slug":"what-is-metamask","title":"Metamask: The Leading Non-Custodial Wallet","status":"published","modified_content":null},{"chapter_id":4,"order":37,"slug":"how-safe-is-cryptocurrency","title":"The Key Crypto Wallet Safety Practices: How Safe Can Crypto Be?","status":"published","modified_content":null}]},{"id":5,"title":"NFTs","slug":"nfts","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-nfts.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/nfts-101.jpg","rating":100,"sections":[{"chapter_id":5,"order":2,"slug":"how-to-trade-nfts","title":"NFT Trading: The Ins and Outs","status":"published","modified_content":null},{"chapter_id":5,"order":3,"slug":"buying-nft","title":"Tips and Tricks of Choosing the Right NFTs","status":"published","modified_content":null},{"chapter_id":5,"order":4,"slug":"how-to-store-nft","title":"How to Store NFTs: Best Practices","status":"published","modified_content":null},{"chapter_id":5,"order":5,"slug":"how-to-create-an-nft","title":"How to Create Your Own NFTs?","status":"published","modified_content":null},{"chapter_id":5,"order":6,"slug":"how-to-make-passive-money-with-nft","title":"Making Passive Money with NFTs","status":"published","modified_content":null}]},{"id":6,"title":"dApps & Defi","slug":"dapps-and-defi","updated":true,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-dapps.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/dapps-defi-101.jpg","rating":80,"sections":[{"chapter_id":6,"order":1,"slug":"what-are-nfts","title":"What are Non-Fungible Tokens (NFTs)?","status":"published","modified_content":null},{"chapter_id":6,"order":1,"slug":"what-is-defi","title":"What is Decentralized Finance (DeFi)?","status":"published","modified_content":null},{"chapter_id":6,"order":2,"slug":"what-is-defi-2-0","title":"DeFi 2.0: The New Version of Decentralized Finance","status":"published","modified_content":null},{"chapter_id":6,"order":3,"slug":"what-are-dapps-in-crypto","title":"What Are dApps and How Do They Work?","status":"published","modified_content":null},{"chapter_id":6,"order":4,"slug":"defi-dapps","title":"Picking the Right dApps: Dos and Don'ts","status":"published","modified_content":null},{"chapter_id":6,"order":5,"slug":"what-is-web-3-0","title":"Web 3.0: The Future of the Internet","status":"published","modified_content":null},{"chapter_id":6,"order":6,"slug":"what-are-smart-contracts","title":"What is the Core Purpose of Smart 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Cryptocurrencies?","status":"published","modified_content":null},{"chapter_id":7,"order":2,"slug":"how-to-invest-in-crypto","title":"Investing in Crypto: What Investing Options Do You Have?","status":"published","modified_content":null},{"chapter_id":7,"order":3,"slug":"ico-vs-ido","title":"ICO vs IDO vs IEO: Which One is the One?","status":"published","modified_content":null},{"chapter_id":7,"order":4,"slug":"what-is-an-airdrop","title":"What are Crypto Airdrops and How to Get Them?","status":"published","modified_content":null},{"chapter_id":7,"order":5,"slug":"how-to-get-free-crypto","title":"How to Get Free Crypto Assets?","status":"published","modified_content":null},{"chapter_id":7,"order":6,"slug":"how-to-arbitrage-crypto","title":"What is Crypto Arbitrage: The Main Principles","status":"published","modified_content":null},{"chapter_id":7,"order":7,"slug":"what-is-a-perpetual-contract","title":"Perpetual Contracts: Futures Contracts Without an Expiration 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