The chief power (
of all the rings alike) was the prevention or slowing of decay (i.e. 'change' viewed as a regrettable thing), the preservation of what is desired or loved, or its semblance - this is more or less an
Elvish motive. But also they enhanced the natural powers of a possessor - thus approaching 'magic', a motive easily corruptible into
evil, a lust for domination.
And finally they had other powers, more directly derived from
Sauron ('the Necromancer': so he is called as he casts a fleeting shadow and presage on the pages of The
Hobbit): such as
rendering invisible the material body, and making things of the invisible world visible.