A wallet like no other: 1inch Hardware Wallet and its Web3 Hiring Challenge

A wallet like no other: 1inch Hardware Wallet and its Web3 Hiring Challenge

At least one thing the crypto community agrees on: hardware wallets are your best option for safeguarding digital assets. Hardware wallet sales are reportedly on the rise as users gain knowledge and lose faith in centralized exchanges.

The 1inch Hardware Wallet was created as a grant-funded project in early 2022. Without regard to the primary platform, the development of HW proceeds autonomously.

Despite being a relative newcomer, the wallet is gearing up for release in 2024 to take on the self-custody market.

Better than a bank card

The 1inch Hardware Wallet is 4 mm thin, weighs just 70 grams, and is so small that it can fit in almost any pocket, real wallet, or card case. It has only one small button and boasts an ultra-sleek design. On top of that, its battery will last you for two whole weeks, and you can only charge it wirelessly.

The wallet is big on security. To protect users from any possibility of theft, 1inch HW does full transaction parsing and offline data analysis. Wallet owners are notified as soon as any of the signing transactions are compromised. The device uses Hierarchical Deterministic technology and allows users to create and manage multiple wallet sets with different seed phrases.

Besides, it has two connection options: QR codes and NFC. When you use QR codes as your primary connection method, the device becomes completely "air-gapped" and completely self-contained. A close-range attack or wired interference cannot compromise it. The QR code option is available via the wallet’s built-in camera.

Another option is near-field communication (NFC), a technology that allows wireless-enabled devices in proximity to communicate with one another.

Inspired by feedback

According to the wallet’s founder and CEO, Alexey Devyatkin, HW stands out due to its innovative design, compactness, big touchscreen display, and waterproof and damage-proof features.

Every single feature of the wallet is well-thought-out. The team has conducted a lot of research, trying to find out the struggles of users with current solutions and their thoughts on what functionality can be introduced. In other words, every feature of the wallet is community-approved.

One of the major concepts of Web3 is transparency. In keeping with that philosophy, 1inch HW makes its code available for the community to analyse and highlight potential problems. The goal is for every aspect of the device to be secure, efficient, and of high quality, and community participation massively assists in improving the device's security and user experience.

HW and Web3 Hiring Challenge

Though the HW team may be compact, their pursuit of top-tier industry professionals is relentless. Recognizing that smaller teams are especially reliant on exceptional talent, we sat down with Viktor Dovydenko, Human Resource Generalist at 1inch Hardware Wallet. He shared insights on navigating the intricate landscape of Web3 HR and the unique challenges and opportunities it presents.

What unique challenges and opportunities do Web3 and cryptocurrency companies face regarding talent acquisition and retention?

“The first challenge is a skills shortage. Web3 and blockchain technologies are relatively new and lack professionals with expertise in these areas, and competing for a limited pool of talent can be challenging. Additionally, some projects use very rare programming languages that are not well known in Web2. Therefore, the option of hiring a Web2 skilled person and cultivating a blockchain enthusiast seems no less challenging.

Another challenge is rapid technological evolution. The fast pace of technological change in the crypto and Web3 space means that employees need to continuously update their skills and knowledge, which can create a skills gap. Therefore, it is always necessary for a company to motivate employees to attend conferences and take educational courses. In one of my projects, the CTO and I were able to introduce the format of quarterly hackathons with a monetary prize. As a result, we have two new projects within the developing ecosystem.

As for opportunities, remote work and global teams are two of the main ones. These models give us a little more opportunity to build a strong team. After all, when there are no geographical or office restrictions, it is much simpler to gather the best specialists.

Community engagement is yet another opportunity I can mention. Many Web3 projects actively engage with their communities, allowing employees to interact with a passionate user base and contribute to open-source projects.”

In a rapidly evolving industry like Web3, how does your HR team stay updated on the latest trends and technologies to recruit the right talent?

“We actively attend various Web3 conferences around the world. Also, we have quite a wide network in the Web3 sphere, so we are always aware of trends.”

In the Web3 space, remote work and distributed teams are common. What strategies do you employ to maintain effective communication, collaboration, and team cohesion in such an environment?

“We try to reduce our processes to asynchronous communication. I would say it's a must-have for a remote Web3 project.”

The Bottom Line

Crafted by a dedicated team at 1inch Hardware Wallet (HW), this cutting-edge self-custody solution goes beyond innovation. The compact yet relentless force behind HWW is driven by community-approved features, transparency, and a commitment to excellence in the ever-evolving landscape of Web3. It's not just a wallet; it's a collaborative venture, reflecting the spirit of the crypto community.