Golden Finance reports that 1inch Labs, which has been continuously innovating in the field of cryptocurrency trading, recently announced a major breakthrough – officially launching an upgraded version of its self-developed algorithm Pathfinder. This innovative algorithm upgrade has brought many benefits to cryptocurrency traders, especially with remarkable achievements in optimizing exchange rates and Gas costs.
The new Pathfinder algorithm demonstrates powerful performance advantages and can increase the exchange rate by up to 6.5%. This means that when users exchange crypto assets, they will obtain a better transaction price, significantly enhancing the value return of the transaction. For instance, suppose under the old algorithm, when a user exchanged a certain amount of one cryptocurrency for another, they could obtain X amounts of the target currency. With the support of the new Pathfinder algorithm, it is highly likely that the user will obtain more than 1.065X amounts of the target currency, which undoubtedly brings a tangible increase in returns to the user.
In terms of Gas cost optimization, the new Pathfinder algorithm also performs well. Compared with other DeFi aggregators, it can achieve Gas cost optimization of up to 6%. In blockchain transactions, Gas cost is an expense that users cannot ignore, especially when transactions are frequent or involve large amounts of money. Reducing Gas cost can save users considerable expenses. Take the Ethereum network as an example. In the past, a transaction might require a relatively high Gas fee. However, after using the new Pathfinder algorithm, users are expected to complete the same transaction at a lower Gas cost, making the on-chain transaction process more efficient and smooth.
After about six months of meticulous development, the 1inch Labs team has created this advanced algorithm. This algorithm can explore efficient trading paths more quickly, thereby making classic exchange operations more efficient and profitable. The principle lies in integrating the exchange steps to avoid redundant operations in the previous transaction process and reduce unnecessary Gas consumption. Meanwhile, the new algorithm can also maximize the utilization of centralized liquidity, precisely extracting the required trading volume from various liquidity pools to achieve the optimal trading exchange. This process greatly improves the efficiency of Gas cost utilization.
Currently, the Pathfinder algorithm has been first launched on the 1inch chain that supports the Ethereum virtual machine. Given its outstanding performance, the 1inch team plans to expand it to the Solana chain in the future. The 1inch protocol has previously been deployed on the Solana chain. As algorithms are applied on more chains, more users will be able to enjoy the trading advantages they bring, further promoting the development and innovation of the cryptocurrency trading market.
To enable users to better experience the convenience brought by the new algorithm, 1inch has also redesigned the interface of its decentralized application (dapp). The new interface makes the exchange process more intuitive and easy to understand. Whether you are an experienced professional trader or a novice just entering the field of cryptocurrency trading, you can easily get started and complete the trading operations smoothly.
According to a real-time transaction dataset of over 30,000 transactions conducted using the new algorithm, the aforementioned 6.5% increase in exchange rate has been strongly verified. This data fully proves the effectiveness and reliability of the Pathfinder algorithm in practical applications.
Sergej Kunz, co-founder of 1inch, said: “The new Pathfinder algorithm enables users and integrators to maximize the value of each transaction. While further reducing Gas costs, it offers a better Swap transaction interest rate of up to 6.5%.” This upgrade has set a new industry standard, driving the entire industry towards true large-scale application and bringing a better experience to every participant.
The launch of the Pathfinder algorithm upgrade by 1inch this time undoubtedly dropped a bombstone in the cryptocurrency trading market. With the application and promotion of new algorithms, it is expected to change the current trading pattern, attract more users to participate in cryptocurrency trading, and at the same time, it will also prompt other DeFi aggregators to continuously exert efforts in technological innovation, driving the entire industry towards a new stage of development. A large number of cryptocurrency investors and practitioners are closely watching the subsequent market performance of the Pathfinder algorithm, expecting it to bring more surprises.
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