1inch was among the sponsors of the famous event Paris Blockchain week and here, at the booth, the company presented us with the prototype of their new hardware wallet for storing cryptocurrencies like Ethereum and more.
The event took place from April 9th to 11th, 2024 in the French capital and right here 1inch presented for the first time to The Cryptonomist the prototype of what will be their new hardware wallet to securely store cryptocurrencies like Ethereum, but also other altcoins, etc…
As explained in the flyer, where you can also scan the QR code and join the waitlist and/or the dedicated Telegram chat, the 1inch hardware wallet will be:
- Without buttons to simplify usability like the more recent smartphones
- With various types of seed phrases to choose from
- With a cutting-edge security system
- A long-lasting battery, without the need to charge it often
- The device is completely “air-gapped”, as it not only does not have buttons, but also does not require any wired connection. All data is exchanged via QR codes or, optionally, with NFC.
Here is the full video of the prototype.
1inch: hardware wallet crypto – not entirely a novelty
Actually, already in January 2023 it had been mentioned that the company 1inch was going to launch its own crypto hardware wallet and a 2D image of the prototype had been shown.
But it seems that finally now, by the end of 2024, this hardware wallet will see the light.
Developed by an independent team working within the 1inch Network, the new wallet seems to be finally in its final stages of development.
What is and how does the 1inch wallet work
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 compliance with BIP44, it is possible to create a new set of wallets.
The crypto wallet hardware from 1inch Foundation is a compact, sturdy, and waterproof device, the size of a bank card, weighing only 70 grams and with a thickness of 4 mm.
Furthermore, the device supports wireless charging, its Li-Po battery lasts about two weeks of usage and is available in five colors.
This first physical product signed by 1inch is supported by a 1inch grant program, while at the moment, there is a waiting list where you can sign up to win the 1inch hardware crypto wallet once it is put up for sale.
