HyperCycle unveils RingOfRings to bolster crypto security

Decentralized artificial intelligence platform HyperCycle has introduced a new wearable smart technology device called RingOfRings.

RingOfRings offers users a new way to verify transactions and secure their digital assets, HyperCycle said in a press release obtained by crypto.news on August 14.

The artificial intelligence platform announced its new initiative at the Blockchain Futurist Conference, a blockchain and crypto event currently being held in Toronto, Canada.

HyperCycle’s AI-powered RingOfRings

AI is increasingly permeating every aspect of human life, and amidst this integration, some malicious actors are increasingly using the technology for fraud and scams. The crypto world is one of the sectors that has been significantly hampered by the numerous AI-related scams targeting users and platforms.

Different approaches are being developed to promote legitimate use cases in 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, and RingOfRings offers a hardware token that enables multi-factor authentication. The dual-layer system allows users to secure tokens through traditional cryptography and physical verification.

In this case, the ring allows users to authorize blockchain transactions through functions such as tapping.

According to HyperCycle, RingOfRings is energy efficient and requires no charging or maintenance. The company says the ring’s technology could be key to unlocking greater crypto adoption by helping to stop the tide of crypto thefts, attacks, and scams.

Local token

OkpR is the native token of the RingOfRings project and has a supply of 30 billion. The token helps with network decentralization as 30 billion tokens are shared across 30 projects including exchanges, crypto wallets, and blockchain platforms.

These partners will use tokens to encourage their communities to adopt the technology, and users will be able to unlock more OkpR in the next investment phase of the project.

Meanwhile, 4 billion OkpR tokens will go to the team, fundraising efforts, founders, and investors.