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It hangs from your keys.

There are a variety of electronic key fobs that do different things.

Some emit a signal detectable at close range. This signal is detected when the fob is held near the receiver, which then takes the appropriate action (unlock the lock, credit reward points to the proper account, whatever.)

Some use an algorithm to display a security code as a sort of "triple handshake" to log in to things over an unsecured network more securely. This code, plus the machine you are logging into, plus the machine authenticating you for access, all have to be on the same page or you don't get in. If you are missing the fob, you are missing an important part of your "key" and will be locked out.

There are more, these just common types.

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14y ago

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