1inch Network brings its hardware wallet to market

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The aggregator of decentralized exchanges 1inch Network announced the final stage of development of its own hardware wallet, which is now undergoing the final stages of testing.  

According to 1inch, the hardware wallet will go on sale this year and will compete with larger players in the cold wallet market such as Ledger and Trezor.

Hardware wallet with 1inch supportThe Foundation features a 2.7-inch touchscreen display and is wireless and powered by a rechargeable battery. According to the description provided by 1inch, the built-in Li-Po battery should last about two weeks of use.

Data exchange must be carried out usingQR codes or, optionally, using NFC technology, like smartphones. The 1inch team promises that users will be able to take advantage of transparent transaction signing, as opposed to the blind signing offered by similar devices from some other manufacturers.

To prevent hacker attacks and theftfunds, the device performs full analysis of transactions and call data offline. If the transaction that the user signs has been compromised, the device will immediately inform its owner.

Previously another hardware suppliercrypto wallets, Trezor reported a significant surge in wallet sales. Company spokesman Josef Tetek said that Trezor's revenue has grown by almost 300% and continues to grow.

Cold crypto wallet provider Ledger is expected to introduce in the first quarter of 2023
a new product that the company is currently creating together with former Apple developer Tony Fadell.