"Two-factor authentication (also known as 2FA) is a method of confirming a user's claimed identity by utilizing a combination of two different components. Two-factor authentication is a type of multi-factor authentication.

A good example from everyday life is the withdrawing of money from a cash machine; only the correct combination of a bank card (something that the user possesses) and a PIN (personal identification number, something that the user knows) allows the transaction to be carried out." (Wikipedia)
Online, 2FA is an additional time-sensitive one time code that you input alongside your username and your password in order to login. This prevents an attacker from accessing your account in case your password is compromised as the attacker would need to also have knowledge of this changing code.
The traditional way of receiving these 2FA codes is either via SMS which is slow and insecure or via an authenticator app such as Google Authenticator. The latter is more secure than the former but is extremely inconvenient due to the fact that you are required to unlock your phone, open the authenticator app and type the 6 digit 2FA code into your browser every time you want to login.
Myki simplifies this process by holding these 2FA tokens for you and by inputting them alongside your username and password whenever you grant access to an account from your smartphone.

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