1 inch lanceert op Ethereum schalen cryptocurrency app optimizes optimization

Although the cost of gas in Ethereum has declined recently, several cryptoprostocols are still exploring scaling solutions with solutions such as Binance smart chain or Level 2 solutions such as Polygon. The popular 1inch exchange aggregator is no exception today as it launches its fourth multi-chain extension. 

1inch collects trading data from various decentralized crypto exchanges, such as uniswap and Bancor, to give traders the best price per transaction. Instead of looking for the highest profits on certain trades on different platforms, the app does the job for you. 

This convenience also brought 1 inch to a ton user. 

At the time of publication, this is the third largest application on Ethereum by number of users – more than 290,000. Compound is home to about 328,000 users, and Uniswap is the largest app with more than 2 million users. 

Users only 1 inch in time. Source: Dune Analytics
However, these figures only include Ethereum users. 1inch also launched its services at Binance Smart Chain and Polygon earlier this year to meet its growing user base and combat rising costs. 

The aggregator now operates in real time on the ethereum scaling platform. 

“Optimistic Ethereum is very promising [Level 2] as a solution for scalability, and 1inch launch optimistic will be a dramatic increase in transaction speed and ease,” says 1inch co-founder Sergey Kunz in an interview with decrypt.

Synthetix demo is final step towards scalable Ethereum
The exchange aggregator combines several other Ethereum applications integrated with trust, including uniswap and Synthetix.

The technology is based on optimistic roles that package transactions with ethereum to ease the burden on the network. These batches are then validated in Ethereum in a single block. 

This is a promising technology, but it has not yet been fully developed. 

Like the alpha launch of uniswap in July, the bandwidth on the 1-inch iteration will be limited to 0.6 transactions per second. For context, ether

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