Canadian start-up Bionym has developed a wrist-worn strap called the Nymi that uses its wearer's heartbeat to confirm access to devices, says a Forbes report.

The device is being touted to be a biometric alternative to passwords and even fingerprints which have proven to be fragile to hacks and leaks, according to Mirror.

The Nymi employs an electrocardiogram (ECG) sensor that recognizes the wearer's unique heart rhythm, which is then used to unlock devices. The sensor does not compute actual heart rate but rather the electrical activity the heart yields, which differs from person to person like a fingerprint.

The device's identifying system is more secure than one that uses fingerprints because the shape of a person's heartbeat wave is more difficult to reproduce or copy, says Digital Trends. Fingerprint sensors that have been installed on smartphones such as those by Apple and Samsung were hacked a few weeks after the products were released.

With household appliances gaining more online functions, the Nymi isn't only targeted at handheld electronic gadgets and computers. It can also work as a door or car key, or for controlling and setting home lighting.

The company says users won't have to re-read their heartbeat whenever they log in, log out or unlock a device. The wearable and an accompanying app need to register their heartbeat only once.

The Nymi also has an accelerator and gyroscope built into it to read gestures and the wearer's proximity to objects.

Bionym just recently received a $14 million dollar funding from investors which the company will use to fund its 10,000 preorders and bring the device to a release date.

"We're establishing the Nymi as the de facto platform for persistent, trusted identity, and this round of financing is providing us with the resources needed to bring the platform to market," said CEO and founder Karl Martin in a press release.