By Michael Scott
The Russian decentralized exchange aggregator- 1 Inch Network, announces its recent upgrade- Fusion aims to realize substantial gains when the crypto market is stuck in the red zone. The current development is on the 1 Inch Swap Engine, which integrates distinctive features into the system to ensure that user transactions are secure and cost-efficient.
Will the 1 Inch Network Latest Upgrade Improve User Experience?
The intent project team behind the Fusion upgrade has modified the system to allow crypto investors to trade at a given price and time without incurring network charges. Additionally, the major upgrade enables traders to exchange crypto assets through decentralized exchange platforms (DEX) at a considerable rate. Besides trading at a desirable rate, the Fusion mode is fast and cost-friendly, allowing users to wait 10 minutes to bargain for a fair trading deal.
The announcement dated December 25 by the co-founder of 1 Inch Network Sergej Kunz assured the DeFi users that the Fusion upgrade would be a game changer in the crypto world. Kunz proclaimed that the Fusion mode would revolutionize the DeFi space by improving the decentralized order-matching system centered on the Dutch platform to provide the users with more liquidities than before.
Correspondingly, with the Fusion upgrade, the users are safeguarded from maximum extractable value (MEV), usually realized when extra gas charges and block rewards are attained. At the moment, Fusion mode operates well with multi-chain blockchain networks such as Ethereum and Polygon. However, the developers are optimistic that the Fusion upgrade will integrate with other networks in the future projects.
Despite the Fusion upgrade, the development team has made a valuable contribution in developing the 1 Inch resolver incentive program to support the performance of the Fusion mode. The program is tasked to refund gas-related costs that the end user incurs when filling user orders on the Fusion mode, and it is effective till the end of this year.
Will Fusion Upgrade Deter Security Breaches?
Since 2020 hackers have been eyeing the decentralized finance platform exposing crypto investors to lose substantial amounts. A notable increase in cyber crimes in Defi platforms is executed on cross-chain bridges considered vulnerable.
Security expert and CEO of Toposware Theo Gauthier questioned the bridge attacks arguing that 2023 could replicate the 2022 security breaches. Despite the security measures deployed on the bridge, Gauthier argues that the chains connected to it determine its effectiveness. Notably, the bridge is prone to inherent vulnerability if an intrusion activity occurs along the chain.