To continue pursuing its plans related to the expansion of its ecosystem of products and its projects, 1inch Network will very soon be delivering the 1inch Hardware wallet. This happens to be a new age and the latest solution with regard to cold crypto storage.
The 1inch Hardware Wallet is inching towards receiving the final touches required to complete its overall development and is slated to be delivered to the public and ready for selling sometime this year. It apparently will provide the most secure way of storing users’ private keys in the form of an offline, simplified, and open-source method. A separate team happens to be involved in the development of the wallet to make it the best crypto hardware wallet and with the able help of a grant which has been extended by the 1inch Foundation.
When it happens to be an important matter of crypto storage, safety and security-related issues automatically hold the highest form of priority. Hardware Wallets happen to be providing the ultimate high degree of safety and security, just as in the very case of individual devices, which assist in the storage of a user’s address and also the private keys. They also happen to be offline and non-custodial.
On top of all of that, they also happen to be equipped with various security levels which help in the protection of data when up against numerous methods of attack. The usage is, more often than not, in the form of added protection, in order for the manual approval of transactions, or in the case of cold storage of crypto.
Where the 1inch hardware Wallet’s features are concerned, it happens to be completely air-gapped. This is because it does not contain any buttons and also does not need the help of any kind of wired connection. All of the data exchange-related issues take place either with the usage of QR codes or, in another case scenario, with NFC. All of the users will be able to benefit from the transparent transaction signing. In order to avoid attacks from hackers and also the fear of funds being stolen, full transaction parsing, along with call data offline analysis, is carried out.
The 1inch Hardware Wallet also provides users the opportunity of building and have control of many sets of wallets, having separate seed phrases. Every wallet utilizes the Hierarchical Deterministic (HD) Wallet algorithm, keeping in tune with BIP44, in order to build a fresh wallet set. The wallet happens to be compact, and the weight of it happens to be only 70 grams.
It has a 2.7” E-Ink grayscale touch display, which stands by the light and dark modes, making its overall usage very convenient. It also happens to be waterproof. Wireless charging is used, with its Li-Po battery remaining effective for approximately two weeks. There is also the added option of having it in five different colors.