📕Blockchain from A to Z
📲Authentication means the verification procedure.
💵When selling or buying DEL on some centralized exchange, you’ll face several stages including identification, authentication and authorization.
1️⃣The exchange requests you to send login, you send it and then it detects it as a valid one. This is the process of identification.
2️⃣After that, the exchange wants you to enter your password, you do this, and the system confirms that you are real once the password has matched. This is authentication.
3️⃣The you will be asked to enter the code sent to you in SMS or to some App. If you enter it correctly, then the system finally agrees that you are the real account holder by two-factor authentication that should be installed in all accounts of centralized exchanges.
4️⃣Once you’ve done this, the exchange provides you with the right to use your DEL — this is authorization.