The further development at 1inch does not stop. Today, 1inch’s in-house developed wallet solution for iOS is available and offers enormous advantages in the sparse wallet offering at Apple.
The 1inch Wallet offers a balanced mix of user-friendliness, security, and functionality. Now iOS users have the option to use the same features of the web version, as well as innovative mobile wallet features.
This development is a logical step, as more and more traders and investors are turning to mobile devices to trade and track the market actively. However, existing solutions often leave much to be desired, are buggy, or simply too slow.
The new 1inch wallet not only offers the main advantages of 1inch, but you can exchange any tokens at the best prices in DeFi with just a few clicks. Moreover, users can conveniently choose between the Ethereum network and the Binance smart chain.
Within the Ethereum blockchain, so-called stealth transactions are also supported via the 1inch wallet. This allows traders to avoid costly front-running attacks from trading bots.
1inch’s goal with its own wallet was to provide the best mobile user experience for interacting with the 1inch network. The main focus was to implement a highly secure wallet implementation with swaps. The next step will be to introduce staking, governance, and liquidity pools.
The wallet for iOS has been significantly optimized in recent months to provide the best possible implementation when performing key functions such as swapping, sending, and approving transactions via WalletConnect. Unlike most other wallets, it is possible to use the WalletConnect functionality in the background. In addition, multiple WalletConnect options can be used simultaneously.
Likewise, user experience was a top priority for 1inch. Therefore, the project opted for a simple yet appealing design. For example, users’ tokens can be divided into categories. This makes it easy to view and sort one’s portfolio by the group. These include normal ERC20 tokens, NFTs, liquidity pool tokens, and custom tokens.
1inch Wallet comes with a push notification feature. Users receive push notifications about transactions they need to sign. This allows users to make transactions in just a few clicks without having to sign in every time.
In addition, the wallet supports EIP-681 payment requests, which makes it possible to pay directly through URLs. Moreover, the wallet’s most important advantage is the security aspect, which is highest.
It also focuses on obtaining real-time rates and signing transactions quickly. With a 1inch Wallet, transactions can even be approved and confirmed on the Apple Watch. To ensure the highest level of security, the wallet has undergone an extensive security audit by Blue Frost Security.
Another important security feature is the encrypted backup to the Apple iCloud. With this feature, a user can install the app on another device and access the Wallet via iCloud using their password. This could come in handy to migrate the wallet to another device.
The backup feature has three levels of protection, including Face ID, Apple ID, and a passphrase. In addition, the wallet uses the Secure Enclave coprocessor to encrypt user data that never leave their devices.
When a user enables iCloud Sync, the data is transferred to the user’s private iCloud database via the CloudKit framework, encrypted with AES256. Neither the developers of 1inch Wallet nor Apple have access to the data stored in the user’s iCloud account, which is additionally encrypted with a passphrase provided by the user.
The wallet also offers customizable features for advanced users, such as traders. Traders will be able to edit or cancel a sent transaction that has not yet arrived on the blockchain directly in the app.
For example, a user can increase the gas fee of a transaction to ensure it is executed faster. This feature is especially useful for advanced traders who often need to adjust their actions to changing market conditions.
As the 1inch Network has long been moving towards interoperability, the 1inch Wallet will allow users to transact outside of the Ethereum network.
Thanks to the 1inch Network’s recent expansion to Binance Smart Chain (BSC), 1inch users can now easily switch between BSC and Ethereum if they want faster speeds and lower fees.
Sergej Kunz, the co-founder of 1inch Network, said.
We are closely monitoring the latest developments in the DeFi space and we will add support for other promising blockchains.
In the future, developers will connect to test networks and test their solutions without paying any fees.
However, one important thing to note about the 1inch Wallet is that 1inch does not have access to the wallet and is not a custodian. Users are in full control and responsibility of their funds on the wallet.
Overall, the 1inch Wallet for iOS aims to make it the most advanced and innovative app for our community.
If you think an important feature is missing or have more ideas about what other blockchains should be supported, you can submit a suggestion via the 1inch forum. If you want to contribute to the development of a 1inch Wallet, fill out this form. Finally, there is a possible reward at the end via the Bug Bounty program.
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