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.
Your security is enhanced with the #1inchShield API! 
Transaction simulation, scam token detection, AML compliance, and suspicious address blocklisting are now available. Built in cooperation with @blockaid_, @trmlabs, and @etherscan Pro.
Explore the new feature overview 
pic.twitter.com/4TVvMH1spb
— 1inch Network (@1inch) June 20, 2024
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.
The post 1inch Network Collaborates With Blockaid To Launch Shield API Tool For Enhancing Security appeared first on Metaverse Post.