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1inch Network Launches New Hardware Wallet

In response to the growing popularity of self-custody, decentralised exchange (DEX) aggregator 1inch Network has become the most recent cryptocurrency platform to enter the hardware wallet business.

The 1inch Hardware Wallet is a proprietary hardware wallet that was built by an independent team operating inside the 1inch Network. The formal launch of the wallet took place on January 19th. “Fully air-gapped” refers to the fact that the 1inch Hardware Wallet does not have a direct connection to the internet and does not need any kind of wired connection in order to guarantee the highest possible level of protection. According to 1inch, ” All data is shared via QR codes or, alternatively, using NFC.” The company also said that the 1inch Hardware Wallet does not have any buttons on it.

A 2.7-inch E-Ink grayscale touch display will be included on the next hardware wallet, which has the dimensions of a standard bank card.

The frame of the watertight cryptocurrency wallet is made of stainless steel, while its surface is made of scratch-resistant Gorilla Glass 6.

The gadget is compatible with wireless charging, and the Li-Po battery is meant to provide power for around two weeks of operation.

The aesthetic of the Apple product line is mirrored in the 1inch Hardware Wallet, which is one of the device’s distinguishing characteristics.

The wallet is available in five hues that correspond to the iPhone 13 colour lineup: hex, graphite, sierra blue, silver, and alpine green.

There are other cryptocurrency companies, in addition to 1inch, who are marketing their hardware wallets in an effort to capitalise on Apple’s widespread appeal.

The French producer of hardware wallets known as Ledger announced a cooperation with Tony Fadell, the creator of the now-iconic iPod Classic form, the previous year in order to build its most recent cryptocurrency wallet known as Ledger Stax.

According to a representative for 1inch, the company began the process of developing the hardware wallet in the early part of 2022 and anticipates releasing the product in the fourth quarter of 2023.

In the not-too-distant future, the company also intends to continue with development and make improvements to security. According to a spokeswoman for 1inch, “next month we will be introducing the contributor programme, so everyone will have the ability to enhance the device really on their own,” and they added that manuals and source codes would be accessible on GitHub.

The launch of 1inch’s first hardware wallet coincides with a growing trend for self-custody as mistrust of centralised cryptocurrency exchanges continues to spread (CEX).

1inch Network Launches Hardware Wallet Amid Rise of Self-Cust

1inch Network, a decentralised exchange (DEX) aggregator, is the most recent cryptocurrency platform to enter the hardware wallet business. This development comes at a time when self-custody is becoming more popular.

The 1inch Hardware Wallet is a proprietary hardware wallet that was built by an independent team operating inside the 1inch Network. The formal introduction of the 1inch Hardware Wallet took place on January 19. The 1inch Hardware Wallet is “completely air-gapped,” which means that it does not have a direct connection to the internet and does not need any kind of wired connection in order to function properly. This was done in order to ensure the highest possible level of security. ” All data is transferred via QR codes or, alternatively, using NFC,” 1inch claimed, pointing out that the 1inch Hardware Wallet does not have any buttons. In addition, 1inch noted that the 1inch Hardware Wallet does not have a display.

The forthcoming hardware wallet is comparable in size to a standard bank card and has a 2.7-inch E-Ink touch display with a grayscale gradient.

The impervious cryptocurrency wallet has a surface made of scratch-proof Gorilla Glass 6 and a frame made of corrosion-resistant stainless steel.

The Li-Po battery in the gadget is meant to provide power for the device for around two weeks, and the device enables wireless charging.

One of the unique characteristics of the 1inch Hardware Wallet is that it imitates the look of the Apple product line. This is one of the wallet’s key advantages.

The wallet is available in five colours, including hex, graphite, sierra blue, silver, and alpine green, which are the same colours as are offered for the iPhone 13 series.

1inch is not the only cryptocurrency company attempting to market its hardware wallet in an effort to capitalise on Apple’s widespread appeal.

The French hardware wallet company Ledger announced a cooperation with Tony Fadell, the creator of the now-iconic iPod Classic model, the previous year in order to produce its most recent cryptocurrency wallet, known as the Ledger Stax.

A spokeswoman for 1inch said that the company began the development of the hardware wallet in the early part of 2022 and anticipates that the device would be released in the fourth quarter of 2023.

In the not-too-distant future, the company also intends to continue with development and improve the security of the system. ” Next month, we will be launching the contributor programme, so everyone will have the opportunity to improve the device truly on their own,” a representative from 1inch said, adding that documentation and source codes will be available on GitHub. Additionally, the representative mentioned that the contributor programme will allow users to improve the device truly on their own.

1inch’s foray into the world of hardware wallets coincides with a growing trend for self-custody in response to widespread mistrust of centralised cryptocurrency exchanges (CEX).

Galaxy Digital Invests $44 Million Into Institutional Cryptocurrency

In order to access its exclusive asset storage and management capabilities, Galaxy Digital has put $44 million into an institutional bitcoin custody platform.

The purchase of GK8, a company that has created its own patent bitcoin custody system with the intention of providing safe asset management for institutional customers, has been successfully completed by the cryptocurrency investment business owned by Mike Novogratz.

The firm specializes in the provision of cold vault technology, which enables transactions to be carried out despite the absence of a connection to the internet. It has the potential to automate transactions thanks to its in-house multi-party computation (MPC) vault, and the service also gives access to decentralized finance (DeFi) networks, tokenization, and NFT trading.

According to a statement released by Novogratz, one of the primary motivations for the purchase was the rising demand for custody services among investors. The cold storage solutions and wallet technologies developed by GK8 will be integrated into GalaxyOne, the premier brokerage platform that will soon be released by Galaxy Digital.

As a result of the business transaction, Galaxy will expand its operations to include a location in Tel Aviv, where they will bring on approximately 40 staff formerly employed by GK8. Lior Lamesh and Shahar Shamai, co-founders of GK8, will continue in their roles as leaders of Galaxy’s custodial technologies offering after the company was acquired.

At the time of its introduction, GalaxyOne is expected to provide institutional-grade consumers with access to a comprehensive variety of bitcoin financial services. Trading, lending, derivatives, cross-portfolio margining, and custodial offers are all going to be a part of this. All of these are going to be handled by GK8.

In December 2022, Galaxy announced the purchase of Argo Blockchain’s primary mining operation for the price of $65 million. This move was Galaxy’s way of doubling down on its investments in the cryptocurrency mining business. In order to avoid going bankrupt during a challenging year for the mining industry, the mining company was forced to sell up its Helios mining plant.

BlueWallet is Sunsetting Its Lightning Node Connection to Lndhub

According to an official announcement, BlueWallet will be disconnecting its lightning node connection to Lndhub in the near future. BlueWallet is going to stop its custodial lightning operations. This means that customers of BlueWallet who are also members of the Bitcoin (BTC) Lightning Network will need to connect to nodes in order to continue making use of BlueWallet’s lighting services.

“The most essential thing is that people don’t panic, and suddenly noobs take out their on-chain money or incorrect lightning balances,” said one person. “This is the most crucial thing.”

Bitcoin serves as the foundation for the Lightning Network, which is a layer-2 payment system. Small sums of bitcoin, also known as satoshis or sats, may be transferred between users with the use of the Lightning Network. This is often done via a lightning wallet.

Blue Wallet is a well-known Lightning Network wallet that has a liquidity pool of more than 42 BTC (one million dollars). According to the statistics provided by Amboss, the network’s biggest channel has a capacity of 4 BTC, which is equivalent to $95,000. BlueWallet is a well-known lightning wallet that comes highly recommended by some of the most prominent Bitcoin users.

Calle said, “It is essential to understand that lndhub is a protocol that facilitates the linking of wallets to accounts. BlueWallet is the wallet that supports LndHub in this instance; however, other wallets, like as Alby and Zeus, also support LndHub.

It is just the account that is being closed, not LndHub or Bluewallet in and of itself. This particular account is hosted by the BlueWallet team, and they have expressed that they no longer want to be responsible for it.

Although users will still be able to withdraw their sats, the LndHub node will no longer let users to create new lightning wallets or refill current ones. BlueWallet has issued a public statement advising customers who have satellite wallets linked to BlueWallet’s lightning node to transfer such wallets as soon as possible.

Because customers of BlueWallet will no longer have access to the service after April 30th, it is imperative that they transfer their sats to another service or wallet of their choosing before the service is discontinued. However, Bitcoin wallets that are used regularly will not be impacted by this change.

According to the website, BlueWallet will “only support self-custody solutions,” which is a crucial fact to keep in mind despite the fact that some people may regard the move as an impediment to the widespread adoption of the Lightning Network. The modification intends to encourage decentralized solutions and self-custody in its recipients.