1inch Network Collaborates With Blockaid To Launch Shield API Tool For Enhancing Security
In Brief
1inch Network has partnered with the Web3 security firm Blockaid to bolster its security by unveiling 1inch Shield API.
Decentralized exchange (DEX) aggregator 1inch Network announced that it has partnered with the Web3 security firm Blockaid to bolster its security by unveiling 1inch Shield application programming interface (API).
The 1inch Shield API represents a comprehensive security tool designed to mitigate various potential threats effectively. It operates round-the-clock to monitor blockchain addresses, blocking any suspicious addresses identified through its screening process. Powered by TRM Labs, the screening mechanism employs both on-chain and off-chain data to identify and address potential security threats promptly. Furthermore, the new solution incorporates the blocklisting capability from Etherscan Pro, enabling the blocking of questionable blockchain addresses.
The Shield API will be gradually incorporated into 1inch products. It is currently accessible via the 1inch Developer Portal, alongside a suite of other tools tailored for Web3 developers.
Blockaid functions similar to a Web3 antivirus, employing data and machine learning to detect and mitigate malicious threats. When users link their wallets for transaction signing, Blockaid offers detailed previews of the transaction outcomes. It can simulate transactions involving wallets, dApps, or smart contracts across various blockchains, enhancing security measures for 1inch users.
What Is 1inch Network?
1inch Network operates as a decentralized finance (DeFi) platform that offers a variety of blockchain-based products and services. It aggregates liquidity from multiple decentralized exchanges (DEXs) to ensure users access the most favorable swap rates. Its core features encompass a DeFi wallet, protocols for liquidity and limit orders, as well as a tool for tracking portfolios.
Recently, 1inch Network deployed its 1inch aggregation protocol and 1inch limit order protocol on the Ethereum Layer 2 network, ZKsync Era. Moreover, it integrated its swap API for self-custodial asset swaps into the Web3 application marketplace, Magic Square, enhancing its discovery and routing algorithm.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
