Markets->1inch Network

1inch Network1inch Network Price1INCH

$0.59,667,429-5.99%(24h)

Market Statistics

Market Cap$348.75M
24h Volume$41.67M
Circulating Amount$1.50B
Price Change (1h)-2.09%
Price Change (24h)-5.99%
Price Change (7 days)-0.61%

About 1inch Network (1INCH)

What is 1inch?

In short, 1inch is a DEX aggregator that allows you to find the most favorable exchange for your token by searching through dozens of scattered cryptocurrency exchanges.

The most complicated and sometimes frustrating task is to find the best exchange rate and the lowest transaction cost in different DEX. This is because the token prices on different DEX are often different, and the fees are also different.

This is where 1inch appears. Think of it as a hotel aggregation platform, such as trivago or kayak. By quickly searching a room on these platforms, you can find the best prices on different travel websites. Instead of switching to another website, you can book the hotel of your choice at the best price on the same portal. Now, replace Hotels with encrypted tokens and travel websites with DEX, and you have 1inch.

 

How Does 1inch Work?

The core proposition of the platform is to find the best price for your transaction in many different DEX. To achieve this goal, 1inch uses a method called “routing”: the platform integrates a special algorithm called “Pathfinder” to analyze every possible choice of the exchange you choose, and automatically “route” your transaction through the most economical path.

One of the most useful functions of 1inch is that it will automatically split your transactions in multiple transaction liquidity pools, where the best returns will be generated, so that you can find the best choice in a few seconds.

 

Time to Communicate with 1inch

Platforms like 1inch can help improve the user experience of the whole defi, not only enabling you to find the most favorable conditions for your token exchange, but also further decentralizing (and better distributing) the control and transparency of ordinary cryptocurrency users.

With 1inch of DEX across three major blockchains — showing no signs of slowing down — it seems likely that the DEX aggregator has provided the stepping stone it is targeting.

 

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