In internet banking how does the automatic PIN generator work?
Sometimes I ve seen people who use internet banking carry around a small key-tag like gadget which when pressed will generate a PIN number to access their accounts online.
Whats this system called? And how does it work?
How does the server in the bank know what random PIN number is generated?
Basically, you take a seed number, the current time, and a complicated bit of maths, and you get a different number. The server and the gadget both know all three of those (each gadget gets a different number) so generate the same numbers at the same times.
http://en.wikipedia.org/wiki/SecurID has more details.
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