1inch Developed its Very Own Hardware Wallet
1inch Network has developed a hardware wallet that aims to provide offline crypto users with a secure storage device for their assets.
The hardware wallet will offer a secure way to store offline users’ private keys. It will be offered alongside 1inch’s existing web-based wallet.
Reportedly, special attention has been paid to the design of the device in the process of creating it. The result is a compact wallet the size of a bank card that weighs just 70 grams and is 4mm thin.
The wallet will be a wireless device with a 2.7-inch touchscreen display and will have a rechargeable battery. With the device users can to sign transactions wirelessly using NFC technology or QR codes.
The hardware wallet is going through the final stages of development and testing before it goes on sale later this year.
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1inch is the largest aggregator of decentralized exchanges by daily volume. The project allows traders to access liquidity from multiple decentralized exchanges to exchange tokens from a single platform. In the past week alone, the aggregator processed over $1.8 billion in trading volume.
When the device is fully ready and enters the market it will face competition from larger players in the sector such as Trezor and Ledger.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
