1inch Network Launches Hardware Wallet for Storing Users’ Private Keys in a Secure Offline Setting

The decentralized speech aggregation work 1inch Network has announced the motorboat of a acold retention hardware wallet. The squad notes that the task is successful its last stages of development. The hardware wallet, expected to spell connected merchantability aboriginal this year, features a 2.7-inch e-ink grayscale interaction show and it does not necessitate a wired connection.

New Hardware Wallet From 1inch Network Offers Air-Gapped, Offline Storage for Crypto Assets

On Thursday, the decentralized concern (defi) task 1inch Network announced the motorboat of a caller hardware wallet that volition spell connected merchantability aboriginal this year. The squad explains successful a property merchandise sent to Bitcoin.com News that the wallet volition connection “the safest attack to storing users’ backstage keys successful an offline, elemental and open-source way.” The announcement made by 1inch follows the caller illness of FTX, which spurred a important magnitude of request for hardware wallets, according to the manufacturers down Ledger and Trezor.

1inch Network’s hardware wallet is expected to spell connected merchantability aboriginal this twelvemonth and volition diagnostic 5 antithetic colors.

1inch details that the wallet is being developed by an autarkic squad moving with the 1inch Foundation. The improvement squad received a grant from the 1inch Foundation to implicit the project. According to 1inch, the hardware wallet is “fully air-gapped” arsenic it has nary buttons and does not necessitate immoderate wired connection. Data is exchanged via QR codes or, optionally, with NFC. The 1inch hardware wallet is astir the size of a recognition card, weighs 70 grams and is 4mm thin.

Additionally, 1inch says the “waterproof” wallet volition boast a “Gorilla Glass 6 aboveground and stainless-steel frame.” The wallet volition besides travel successful 5 antithetic colors, diagnostic wireless charging, and the squad insists the artillery tin past for 2 weeks of regular use. 1inch has started a waitlist program and plans to notify users erstwhile the instrumentality is acceptable for the public. 1inch details that the hardware wallet’s architecture supports a Hierarchical Deterministic (HD) wallet algorithm.

“The 1inch hardware wallet enables users to make and power respective sets of wallets with antithetic effect phrases,” the 1inch squad disclosed connected Thursday. “Each wallet uses the Hierarchical Deterministic (HD) wallet algorithm successful accordance with BIP44 to make a caller wallet set. At archetypal use, a maximum fig of wallets is randomly generated, and nary 1 knows however galore of them determination are, but for the device’s owner. Meanwhile, antithetic pin codes supply entree to antithetic sets of wallets, closing the marketplace information gap.”

1inch’s caller hardware wallet announcement besides follows Ledger’s latest hardware wallet launch with a instrumentality designed by iPod creator Tony Fadell. Ledger’s device, called “Stax,” was reportedly built with “uncompromisingly unafraid architecture.” Ledger’s Stax wallet is besides the size of a recognition paper and features an e-ink interaction screen. Meanwhile, 1inch did not disclose the sanction of the caller hardware wallet device, and the waiting database web leafage simply calls the instrumentality the “1inch Hardware Wallet.”

What are your thoughts connected 1inch Network’s caller hardware wallet? Do you deliberation it tin vie with different hardware wallets connected the market? Share your opinions successful the comments conception below.

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