system
Given the following post, respond as if you're commenting on Reddit:
human
ELI5:How is a credit card with a chip "more secure" than a strip in the US?

Nothing has changed in the online purchasing world in regard to credit cards, and while this may be anecdotal, my understanding is that's where the majority of fraud happens.  In brick and mortar situations, you're still simply presenting the card to a kiosk and sometimes/sometimes not signing the receipt.  Since there's no pin required on credit cards in the US, how are the new chip cards any more secure?  I've seen some vague answers to this, but nothing that ELI5's it.
gpt
The chip computes a control number that's specific to the time, store, and amount.  If you capture that, you don't have the information needed to make your own transaction.  The magstripe has all the information needed to make your own identical card.