Decentralized artificial intelligence platform HyperCycle has launched a new device featuring wearable smart technology called RingOfRings.
HyperCycle said in a press release obtained by crypto.news on Aug. 14 that RingOfRings offers users a new way to authenticate transactions and secure their digital assets.
The AI platform announced the new venture at Blockchain Futurist Conference, a blockchain and crypto event currently being held in Toronto, Canada.
HyperCycle’s AI-powered RingOfRings
AI is gradually permeating every facet of human life, and amid this integration, some malicious actors have increasingly deployed the technology for fraud and scams. The crypto world is one of the sectors significantly encumbered by numerous AI-related scams targeting users and platforms.
Different approaches are in the pipeline to promote legitimate use cases across the AI space, including smart wallets. HyperCycle’s RingOfRings aims to join this trend by offering a collaborative ecosystem where users can leverage hardware technology for digital asset management.
Hardware authentication is key to this initiative, with RingOfRings offering a hardware token that enables multi-factor authentication. The dual-layer system allows users to secure tokens via traditional cryptography and physical verification.
In this case, the ring allows users to authorize blockchain transactions through functionalities such as tapping.
According to HyperCycle, RingOfRings is energy-efficient and will not require recharging or maintenance. The company says the ring’s technology could be key to unlocking further crypto adoption by helping stem the tide of crypto thefts, hacks, and fraud.
Native token
OkpR is the native token of the RingOfRings project and has a 30 billion supply. The token aids in network decentralization, with 30 projects, including exchanges, crypto wallets, and blockchain platforms, sharing 30 billion tokens.
These partners will utilize the tokens to incentivize their communities to adopt the technology, with users able to unlock more OkpR in the project’s next vesting stage.
Meanwhile, 4 billion OkpR tokens will go to the team, fundraising efforts, founders, and investors.
