The 1inch Foundation’s new crypto hardware wallet is in its final stages of development, and will go on sale later this 2023.
1inch Foundation launches its crypto hardware wallet
It is called 1inch Hardware Wallet and is the new offline, non-custodial and secure wallet for storing users’ cryptocurrencies and private keys, offered by the 1inch Foundation.
Developed by an independent team working within the 1inch Network, the new hardware wallet is currently in its final stages and will go on sale later this 2023.
The device is completely “air-gapped,” in that it has no buttons and requires no cable connection. All data is exchanged via QR codes or, optionally, with NFC.
In opposition to the blind signature offered by other devices, the 1inch Hardware Wallet offers its users transparent transaction signing.
Not only that, to prevent hacker attacks and theft of funds, full transaction parsing and offline analysis of call data is performed. If a transaction that the user is signing is compromised on the web or in the mobile app, the device immediately notifies the user.
What the new 1inch crypto hardware wallet looks like and how it works
Basically, the 1inch Hardware Wallet allows users to create and control different sets of wallets with different seed phrases. Thanks to the Hierarchical Deterministic (HD) algorithm, in accordance with BIP44, a new set of wallets can be created.
The 1inch Foundation’s crypto wallet hardware is a compact, robust and waterproof device about the size of a bank card, weighing only 70 grams and 4 mm thick.
In addition, the device supports wireless charging, its Li-Po battery lasts for about two weeks of use and is available in five colors.
This first physical 1inch signature product is supported by a 1inch grant program, and at the moment a waiting list is available where you can sign up to grab the 1inch hardware crypto wallet once it goes on sale.
The partnership with Unstoppable Domains
Recently, 1inch Wallet announced its new partnership with Unstoppable Domains to simplify transactions by replacing complex wallet addresses with human-readable domain names.
Basically, while Unstoppable Domains provides a minted NFT domain on the blockchain that can be used as a payment address for wallets.
A kind of universal decentralized digital identity that serves as a unique username across all applications and platforms.
Through this collaboration, 1inch Wallet can make sure that its users have wallet address names such as Andy.wallet or Mony.crypto or any other creative but simple combination of words chosen as a domain by the user.