WHAT IS ETHERSCAN?

A block explorer that allows users to view public data on transactions, addresses, smart contracts and more such applications on the ethereum blockchain is what etherscan is known for, visit website. The interactions on etherscan are public, allowing one to look through it in the form of a search engine. One can also use transition ID or transaction hash to check activity, tokens, smart contracts and even wallet addresses. Another great thing about etherscan is, one does not need to sign up for it, instead create an account for functionality. Take this example, one can manage alert notifications of transactions, developer tools and can even create data feeds by creating the functionality account.

One thing to keep in mind while using etherscan is, it does not offer an ethereum wallet for storing private keys or for trading. The technology is only considered as a source of blockchain information and databases of smart contracts. In order to perform transactions or store currencies, a crypto wallet is needed. Some of which are – Trust wallet, metamask, maths wallet, and binance chain wallet.

ETHERSCAN AND ITS USAGE

One can view assets held publicly on the ethereum wallet address. By using etherscan, entering addresses in the search box will enable you to see the current balance and transaction history of the wallet under consideration.

Etherscan can be used for –

• Estimation gas fee via etherscan gas tracker
• Observing live transactions on the ethereum blockchain
• Viewing crypto assets held or linked with public wallet
• Looking and verifying smart contracts
• Discovering smart contracts with verified source code and security audit
• Viewing single transactions made through the ethereum wallet
• Inspecting and repealing wallet access for decentralised apps
• The tracking number of smart contracts being authorised with wallet
• Viewing transaction of ethereum blockchain on etherscan – these transactions can include failed and pending ones too

The technology can also be used to track incoming transfer progress. Transactions can be tracked using etherscan.io using hash keys. This key allows its user to estimate how long the transaction will take for confirmation. Once the transaction is complete the page will get refreshed. The application can also be used as an analytics platform where anyone using etherscan can analyse on-chain metrics like Ether changes, gas costs, portfolio tracks and transaction history monitoring for suspicious activity.

Only the public information is displayed on the ethereum blockchain, with no private key access making etherscan secure and free from third-party interaction. No private keys can be stored on etherscan, however, the app itself cannot provide solutions to transaction failure.

CHECKING GAS PRICES ON ETHERSCAN

Gas prices are included in Ethereum transaction fees and depend upon the transaction blocks included in it. These blocks consist of a set fee that varies depending on network traffic. Etherscan gas tracker shows one the price difference at a time at altering gas prices. This useful tool is used to predict how crowded the network is and how much payment will be required to transfer or interact with smart contracts.

ETHERSCAN AND NON-FUNGIBLE TOKENS (NFTs)

NFTs are extremely popular on the ethereum blockchain where users can buy NFTs and see assets on etherscan. However, it will only show the token and not the actual art associated with it. For this, either service such as OpenSea marketplace can be used to view the whole art along with other options. Etherscan itself does not allow the functionality to depict art but shows it through token ID, the project, transaction record or smart contract interaction.

ETHERSCAN FOR FINDING AIRDROPS

This is an extra feature integrated with the technology which supports airdrops on the ethereum network. Here users will not be able to claim tokens from campaigns instead, it provides users with an overview of the active tokens. This is a convenient feature to check eligibility for specific airdrops, though does not include future events.

ETHEREUM TOKEN OVERVIEW

The network supports ERC-20 and ERC-721 token standards. One can find top tokens for every standard, contract, trading volume, market cap, price change and number of holders via etherscan. Each token is clickable for more details such as transactions and other relevant features.

SUMMARY:

Etherscan does not allow crypto trading, rather provides applications such as viewing transaction history, tokens, airdrops, gas prices and even NFTs. Ithas certainly expanded its applications to the world and thus, rising other cryptocurrencies and their features such as ethereum and etherscan.