1inch Network Launches Innovative Multi-Coin Hardware Wallet for DeFi Security

Network recently launched its own multi-coin hardware wallet. the wallet is supported by a grant from the 1inch foundation and is in its final stages of development, with sales expected to start later this year. it is the first defi hardware wallet to use the hierarchical deterministic (hd) wallet algorithm in accordance with bitcoin improvement proposal (bip) 44.

Launch of the wallet took place this year, with the wallet being designed and developed by 1inch network. it is estimated to cost between $179 to $199 and is designed to be roughly the size of a bank card and is 4 millimeters thick.

Wallet is designed to keep users’ private keys in a secure offline environment, thereby protecting them from potential online attacks and intrusions. it offers multiple seed phrases, allowing users to securely access and recover their crypto assets stored in the wallet. it also provides users with transparent transaction signing, as opposed to blind signing offered by some other devices. the wallet supports the same set of coins as the existing 1inch wallet, and more chains will be gradually added in the future. in addition, it has no buttons, and all data is exchanged through qr codes or nfc, making it an air-gapped device. blind signing is considered high risk, especially in the defi world, and the wallet ensures safety by executing full transaction parsing and offline call data analysis, alerting the user if a transaction has been compromised. though it does not currently support bitcoin, wrapped bitcoin (wbtc) will be supported.


By Evey Lovelace

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