DEX aggregators, 1inch Network, has now released its own multi-coin hardware wallet, further diversifying its ecosystem.
The project is nearing completion and is scheduled to debut later this year. With funding from the 1inch Network Foundation, the company’s autonomous and committed staff is developing the wallet.
The release contains an example image and a thorough description of the wallet, the device is completely air-gapped because it lacks buttons, according the description. Furthermore, there is no need for a connected connection because NFC or QR codes are used for all transactions.
Additionally, users will be able to construct many sets of wallets with various seed phrases using the wallet. At first use, the gadget produces a maximum number of wallets at random; only the device owner is aware of this number.
Additionally, the wallet offers transparent transaction signing, which helps prevent theft and hacker assaults. The wallet will notify the user right away if one of the owner’s previously signed transactions is hacked.
Since cold storage also safeguards funds against growing cyberattacks, it has gained particular popularity. According to a new analysis by CryptoSlate, 450,000 Bitcoin (BTC) housed in a hot wallet or on an exchange were transferred to cold storage in 2022.
