The 1inch Network has announced the launch of its History API on the 1inch Developer Portal, a strategic move aimed at enhancing Web3 projects.
This new addition brings an added dimension to blockchain address transaction data, providing developers with efficiency and detailed insights.
The History API is a notable feature that effectively organizes transaction data, serving as a powerful tool for developers working on Web3 projects.
1inch is a decentralized exchange (DEX) aggregator and multichain platform that seeks to offer users the best rates by discovering and routing trades across various decentralized finance (DeFi) ecosystems.
The 1inch Network brings together decentralized protocols to facilitate profitable, fast, and secure operations in the DeFi space. Its flagship protocol is a DEX aggregator solution that scours multiple liquidity sources to provide users with better rates than individual exchanges.
Furthermore, the network’s 1INCH token serves as both the governance and utility token of the 1inch Network. Token holders can actively participate in the network’s DAO governance and receive a portion of the fees generated.
Why History API
One of the notable attributes of the 1inch API is its strong emphasis on security and transparency. The API is specifically designed with scam protection features, providing an additional layer of security for transactions. This is particularly important in the Web3 space, where security concerns are of utmost importance.
Moreover, the inclusion of internal transactions in the API demonstrates a commitment to offering a comprehensive and transparent view of all transactions, both external and internal.
The 1inch team has revealed that speed is also a priority, as the API boasts an impressive response time of less than 150 milliseconds. This swift responsiveness sets a benchmark for rapid data retrieval in the market, ensuring that developers can access transaction information quickly and efficiently.
Furthermore, by supporting nine networks, the 1inch API showcases its versatility, making it applicable across a wide range of blockchain environments.
This flexibility is particularly valuable for developers working on various applications within the Web3 space, such as wallets, decentralized exchanges (DEXes), and other innovative Web3 applications.
With the 1inch History API, developers gain access to well-organized and detailed transaction data, further enhancing their capabilities.
