Admin: Created page with " A picture showcasing the device's different color schemes '''Nymi''' is a wearable authentication device that utilizes a user's Ele..."

2019-06-21T02:26:02Z

Created page with "<amp/> 250px|thumb|right|A picture showcasing the device's different color schemes '''Nymi''' is a wearable authentication device that utilizes a user's Ele..."

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[[File:Nymi.jpg|250px|thumb|right|A picture showcasing the device's different color schemes]]

'''Nymi''' is a wearable authentication device that utilizes a user's Electrocardiogram (ECG) to validate a person’s identity.

== Summary ==
Developed by Bionym, the device aims to "present a system that grants you access for being you". The Nymi has two electrodes, one on the wrist and one on the top. To authenticate, a user must attach the Nymi, and then place their finger on the top electrode to complete the electric current. A user only needs to validate their identity once, until the Nymi is removed. The closed loop keeps the Nymi in an authenticated state, removing all need for repeated prompts (such as in fingerprint scanning or PIN requests).

By using identity in conjunction with motion control the device has a wide potential to revolutionize banking, gaming, smartphones, [[social]] media, exercise, dining and so on. It is of particular interest to [[Bitcoin]] community because it can hold a [[Bitcoin wallet]] and allow for its use in various [[Bitcoin transaction|transactions]] like buying a cup of coffee.

The [[Bitcoin wallet]] is stored in the Nymi’s internal memory using [[Bitcoin weaknesses|state of the art encryption]] and other means of protection that were not mentioned in public release. As the access to any [[Bitcoin wallet]] is only available to the holder of the special [[private key]], the loss of such [[KeY|key]] means that coins that were stored in that wallet are lost forever. That is why there is an option of backing up the [[KeY|key]] in case the wristband is stolen or lost. Surely, such a backup should be waiting for its use on an offline device, so as to minimize the risks. While the complex [[security]] system protects userss digital wealth, the only action they need to do to make a transaction is to tap on the bracelet and their coins will be on their way.

== See also ==
* [[Bitcoin wallet]]
* [[Bitcoin transaction]]

== References ==
: Bionym [http://www.bionym.com/ home page]
: [http://www.getnymi.com/ GetNymi]
[[Category:Technology]]

Nymi - Revision history

Admin: Created page with " A picture showcasing the device's different color schemes '''Nymi''' is a wearable authentication device that utilizes a user's Ele..."