1inch Labs, a decentralized exchange (DEX) aggregator, recently unveiled the 1inch Developer Portal for Web3 developers, which is going to be available on 1inch’s Web3 team website.
1inch Labs blew the horn to the release during EthCC 7 in Brussels and counted on the
Web3 RPC API to help developers operate their nodes more resourcefully. So far, this tool is putting an end to developers’ needs of the node they are working on.
Understanding RPC and API
RPC is the acronym for Remote Procedure Calls and APIs for Application Programming Interfaces. RPC APIs serve as entry points for foreign applications so they can concur closely with Ethereum and other chains.
Key Partners and Stakeholders
Among others, the users of the 1inch protocol, which are partners, stakeholders, and clients, are Polygon, Metamask, BNB Chain, Crypto.com, Trust Wallet, Chainlink, Coinbase, and Binance Lab.
Projects Integrating APIs Went Elsewhere for RPC Services
Before the emergence of this tool, projects utilizing 1inch APIs of the network had to go outside to look for RPC services. The tool is now attached in the network system, hence developers can immediately transact with a blockchain within the 1inch protocol.
1inch expresses the view that essentially any function executed by a wallet, dApp, or any other Web3 project is necessarily a confrontation with the blockchain. Which will mean engagement with smart contracts, the transferring of funds, fetching of the data from the blockchain, etc.
How Blockchain Interaction is Handled
Blockchain transactions are made possible through network activities. In the earlier days projects were involved in either deploying their own nodes or deploying their node operations on third-party nodes that made use of remote procedure calls (RPCs). Those RPCs are the glue for the EVM-enabled chains between the users and the various Virtual Machines.
What Does the Web3 RPC API Do?
The Web3 RPC API by 1inch is a way of developers connecting with Web3 RPCs more easily than before.
“Building from our deep-seated understanding of nodes and ever-functioning node provision for 1inch tasks, we confidently declare that our RPC website for Web3 developers is both safe and functional,” announced 1inch.
Benefits of the Web3 RPC API
An attribute of the Web3 RPC API brings the “maximal uptime” as its major reward. Before max uptime, the 1inch Labs has developed a more sophisticated internal system which includes node monitoring and load balancing which ensures uptime is always at maximum. The company has indicated that it is able to withstand high network loads without losing uptime and it can handle 10 EVM networks.
The company 1inch Labs further provides the information that, The Web3 RPC API can be integrated among different types of Web3 projects connected with EVM networks. These are dApps, decentralized exchanges, and trading bots.
Keep an eye on the new releases coming in the near future that talk about how 1inch is managing to invent new ways and make blockchain access easy for the developers all over the world.
