1INCH to Become Very Attractive for Investors Following its Attempt to Reduce Gas Costs

1inch Network recently made an announcement that is to make the protocol very tractive for crypto investors. The platform announced it has carried out the implementation with aim of reducing gas costs.

1INCH Initiates v5 Router

As per the latest announcement by the 1inch network, the transaction costs for their offerings in the decentralized exchange (DEX) segment would be significantly reduced.

The communicated reduction is at least 10% in the gas costs. This would eventually make the Ethereum network more affordable for investors and other kinds of users.

The latest move by the 1inch network is very profitable for the entire investment who will be using the Ethereum network for swapping activities.

The teams have revealed that they will be able to achieve this with the help of the Router v5 implementation.

The latest implementation would greatly reduce gas costs compared to its previous version plus the competitors.

Compared to the past version, the gas efficiency would be increased by almost 5%. As for the second-best performer in the decentralized exchange segment, the efficiency has increased by at least 10%.

Benefits of Router v5

The Router v5 will also greatly enhance the usability and effectiveness of the network. It has been designed to offer multiple new features as well as made numerous improvements to the already running version.

The most prominent features among the new ones include post-interactions, pre-interactions, and new interaction logic. They have also made several improvements in the error processing system of the smart contract.

They have also added so many security features to the router that ensure that the security level of the protocol is increased. Security is among their top priorities so they have not compromised with that.

The security system they have upgraded their Router v5 to has been tested and audited by many companies. They gave the testing and auditing task to over dozens of companies to see the outcome.

Their audits have been completed without any highlighted issues or breaches. Among the companies that performed the audits are ABDK Consulting, OpenZeppelin, and ConsenSys.

Anticipation of Router v5

Ever since the year 2022 began, the teams at 1inch network have talked about working on the newer router version.

They boasted so many new features and utilities that would come into play with the implementation of the new Router v5.

The 1inch network teams had announced that they would deploy their 1inch Limit Order Protocol and the 1inch Aggregation Protocol on multiple chains. These chains include Gnosis Chain and Avalanche.

Now that the implementation has been made, the investors want to see a huge spike in the trading price of 1inch network’s native token, 1INCH.

At the time of writing, 1INCH’s trading price is worth $0.528 and in the past 24 hours, its value has recorded a 1.82% surge.

If the network is able to deliver what it promised with the implementation of the Router v5, its price would eventually experience a remarkable spike.

By Brandon Craig
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