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

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The decentralized exchange DEX aggregation service 1inch Network has announced the launch of a new cryptocurrency hardware wallet.

The decentralized exchange aggregation service 1inch Network has announced the launch of a new cryptocurrency hardware wallet.

18 seconds ago 1inch Network Launches Hardware Wallet for Storing Users’ Private Keys in a Secure Offline Setting The decentralized exchange aggregation service 1inch Network has announced the launch of a cold storage hardware wallet..Collect this article as an NFT Decentralized exchange (DEX) aggregator 1inch Network is the latest cryptocurrency platform to move into the hardware wallet industry amid the rise of self-custody.More VideosThe team notes that the project is in its final stages of development.The hardware wallet, expected to go on sale later this year, features a 2.7-inch e-ink grayscale touch display and it does not require a wired connection.In order to provide maximum security, the 1inch Hardware Wallet is “fully air-gapped,” meaning that it has no direct connection to the internet and does not require any wired connection.New Hardware Wallet From 1inch Network Offers Air-Gapped, Offline Storage for Crypto Assets On Thursday, the decentralized finance (defi) project 1inch Network announced the launch of a new hardware wallet that will go on sale later this year.The team explains in a press release sent to Bitcoin.

com News that the wallet will offer “the safest approach to storing users’ private keys in an offline, simple and open-source way.7-inch E-Ink grayscale touch display.” The announcement made by 1inch follows the recent collapse of FTX, which spurred a significant amount of demand for hardware wallets, according to the manufacturers behind Ledger and Trezor.1inch Network’s hardware wallet is expected to go on sale later this year and will feature five different colors.1inch details that the wallet is being developed by an independent team working with the 1inch Foundation.One of the specific features of the 1inch Hardware Wallet is that it replicates the design of the Apple product line.The development team received a grant from the 1inch Foundation to complete the project.

According to 1inch, the hardware wallet is “fully air-gapped” as it has no buttons and does not require any wired connection.Data is exchanged via QR codes or, optionally, with NFC.The 1inch Hardware Wallet’s projected designs at launch.The 1inch hardware wallet is roughly the size of a credit card, weighs 70 grams and is 4mm thin.Additionally, 1inch says the “waterproof” wallet will boast a “Gorilla Glass 6 surface and stainless-steel frame.” The wallet will also come in five different colors, feature wireless charging, and the team insists the battery can last for two weeks of regular use.Related: How do crypto hardware wallet firms make money? 1inch did not disclose when exactly the firm plans to start selling the 1inch Hardware Wallet, as it plans to proceed with development and security enhancements in the near future.

1inch has started a waitlist program and plans to notify users when the device is ready 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 create and control several sets of wallets with different seed phrases,” the 1inch team disclosed on Thursday.Major hardware wallet providers like Ledger and Trezor.“Each wallet uses the Hierarchical Deterministic (HD) wallet algorithm in accordance with BIP44 to create a new wallet set.At first use, a maximum number of wallets is randomly generated, and no one knows how many of them there are, except for the device’s owner.

Meanwhile, different pin codes provide access to different sets of wallets, closing the market security gap.” 1inch’s new hardware wallet announcement also follows Ledger’s latest hardware wallet launch with a device designed by iPod creator Tony Fadell.Ledger’s device, called “Stax,” was reportedly built with “uncompromisingly secure architecture.” Ledger’s Stax wallet is also the size of a credit card and features an e-ink touch screen.Meanwhile, 1inch did not disclose the name of the new hardware wallet device, and the waiting list web page simply calls the machine the “1inch Hardware Wallet.

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1inch Network enters the hardware wallet businessDecentralized exchange aggregator 1inch has revealed a hardware wallet that aims to provide a secure option for crypto users to hold their assets.

1inch launches proprietary hardware wallet as self-custody trend growsDEX aggregator 1inch has introduced its own crypto hardware wallet developed by an independent team working within the 1inch Network.

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