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1inch launches Fusion+: the new standard for cross-chain exchanges?
By Daniele Corno
Fusion+ is live in Beta: 1inch launches new standard to boost security of cross-chain exchanges
1inch and the Fusion+ update
1inch, the leading Defi aggregator for decentralized exchanges, recently unveiled Fusion +. This update was created with the goal of improving the security of cross-chain exchanges.
With Fusion +, users can make token swaps between different blockchains while retaining control of their crypto assets.
This system improves the efficiency of exchanges. It also seeks to solve the security problems associated with centralized bridges and exchanges.
Topic of utmost importance, over $5 billion was stolen through hacks to the most popular bridges between 2022 and 2023, such as hacks to Wormhole and Ronin Bridge.
Fusion + uses atomic swap technology and the intention-based approach, which allows users to express their exchange preferences without direct coordination, ensuring secure and optimized transactions.
Atomic swap technology
Fusion + leverages atomic swap technology, which enablesall-or-nothingtransactions. If a swap cannot be completed, the assets used are returned to the owner.
This technology eliminates the need for trust between the parties involved, as transactions are governed by smart contracts that automatically verify all conditions. As a result, each transaction is secure and reliable, minimizing the risk of misunderstanding or fraud.
Find all the documentation related to 1inch Atomic Swaps HERE.
How Fusion + works
To complete a cross-chain exchange with Fusion +, users must manually enable the feature in the 1inch dApp settings during the beta phase.
Once enabled, tokens can be exchanged by simply choosing the desired assets and blockchains and confirming the transaction.
The system automatically handles all technical details, making the user experience simple and intuitive.
Fusion + now offers a decentralized solution that leverages the vast liquidity of the Web3 ecosystem, ensuring the best rates and unparalleled security.
