1inch token has introduced a major upgrade to its ecosystem: Fusion+. It carries forward the legacy of its predecessors, with improvements in terms of swapping mechanisms. The 1inch Fusion was introduced in 2022, enabling users to specify the utmost acceptable returns. Then, resolvers would compete to implement swaps at a favorable rate. Fusion+ integrates atomic swap technology.
It fundamentally enables the seamless exchange of assets between chains without the need for an intermediary. This builds on the idea of strengthening the decentralized foundation of the ecosystem. Moreover, it ensures that a single platform is sufficiently capable to enable the provision of features such as security, efficiency, and speed during swaps.
In the announcement on X, 1inch stated that it was a new cross-chain solution that does not compromise with asset protection. It is built on the intent-based approach, which was also the key element of Fusion back in 2022.
Atomic Swap technology comes loaded with two features: security and trustlessness. The concept of security posits that the failure of a transaction shouldn’t expose assets to the risk of disappearing within the system. Instead, the system should safely return them to their original owner. The trustless nature is based on smart contracts that don’t require both parties to have a mutual trust. The contracts themselves confirm the fulfillment of the conditions. Suffice it to say, the process is automatic rather than being manual and time-consuming.
Fusion+ is taking the community by storm. It has worked well for 1inch token so far, causing a surge of 5.78% in the last 24 hours and taking it to the value of $0.2764 at the time of writing this article. 1inch crypto price prediction now estimates that the token can reach $0.90 by the end of this year, that is 2024. Alternatively, it could hover around $0.78, both of which are positive developments in comparison to the current value.
Community members have nothing to worry about when it comes to the technical complexities behind the implementation of Fusion+. Most of it happens in the backend. Users are only tasked with completing basic steps, which start by visiting the dApp, choosing the token, and confirming the swap.
As for the 1inch token, it is also up by 5.61% in the last 7 days and 5.66% in the last 30 days. The 24-hour trading volume has jumped by 42.30%. Near-term predictions estimate the token to reach $0.89 in the next 30 days. That will roughly translate to a growth of 231.06% from the current value. Prevailing sentiments are neutral, and the same is evident by the FGI, which has 54 points in the column.
Unveiling Fusion+ was the first step in the market. 1inch now has another road to travel, wherein it will test and improve functionalities based on feedback and actual results.
Source: https://www.cryptonewsz.com/1inchs-fusion-plus-a-era-for-cross-chain-swaps/