1inch Launches Web3 RPC API Tool to Simplify Blockchain Access for Developers

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Tanzeel Akhtar

Journalist

Tanzeel Akhtar

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Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk, Bitcoin Magazine and Bitcoin.com.

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Last updated: 

July 7, 2024

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Decentralized exchange (DEX) aggregator, 1inch Labs has launched the 1inch Developer Portal which is being made available to Web3 developers.

1inch Labs announced at EthCC 7 in Brussels, explaining that with the Web3 RPC API, 1inch will give Web3 developers a more efficient RPC blockchain interaction, without the need to run their own node, says 1inch.

RPC stands for Remote Procedure Calls and APIs for Application Programming Interfaces. RPC API act as the gateway for external applications allowing them to interact with Ethereum.

Partners, stakeholders and clients using the 1inch network include Polygon, Metamask, BNB Chain, Crypto.com, Trust Wallet, Chainlink, Coinbase, and Binance Lab.

Projects Integrating APIs Went Elsewhere for RPC Services

Before the launch projects integrating 1inch APIs had to go elsewhere for RPC services, said the firm. With this latest tool developers have a way to interact with the blockchain without leaving the 1inch system.

1inch explains nearly every task initiated by a wallet, dApp or any other Web3 project requires interaction with the blockchain. This interaction may involve engaging with smart contracts, transferring funds, retrieving blockchain data and more.

The interaction with the blockchain is handled by nodes. So when a project needs to either deploy its own node or connect to a node run by someone else, using a remote procedure call (RPC). RPCs facilitate interaction with various Ethereum Virtual Machine (EVM) blockchains.

What Does the Web3 RPC API Do?

The Web3 RPC API, 1inch will give Web3 developers a more streamlined RPC blockchain interaction.

“Drawing on our extensive experience with nodes and the ongoing requirement for reliable node access for 1inch operations, we can make sure that our RPC service for Web3 developers is secure and reliable,” said 1inch.

The Web3 RPC API offers users several benefits such as “maximal uptime.” 1inch Labs said it has developed an advanced internal system for node health check or load balancing, which allows for the maximum possible uptime. The firm added it can support high network load without sacrificing uptime and can support 10 EVM networks.

1inch Labs explains that Web3 RPC API can be integrated by various types of Web3 projects that interact with EVM networks. This includes dApps to decentralized exchanges and trading bots.