Time-based security refers to protection mechanisms that rely on temporal constraints or synchronized time intervals to authenticate users, authorize actions, or secure data. This often involves one-time passwords (OTPs) that are valid for a limited duration or cryptographic operations tied to specific time windows. It adds a dynamic, time-sensitive element to digital asset protection. Such measures help prevent replay attacks and unauthorized access.
Context
In the digital asset space, time-based security is commonly applied in multi-factor authentication (MFA) for exchange accounts and wallet access. Discussions concern the robustness of time synchronization across distributed systems and the resilience against timing attacks. News occasionally highlights security breaches where the absence or weakness of time-based security protocols played a contributing factor.
VDFs introduce a cryptographic time-lock that enforces sequential computation, creating a provably fair, unexploitable source of on-chain randomness for secure protocol design.
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