What Is Etherscan and How to Use It
Sent a token on the Ethereum network and it hasn’t shown up yet? Wondering if something’s wrong with your wallet? Or maybe you’re curious about how a particular smart contract works? All the answers are available on Etherscan. It’s not just a viewer; it’s a comprehensive tool for analyzing everything happening on the Ethereum network. In this article, we’ll explore how Etherscan works, the features it provides, and how you can use it to verify transactions and analyze data on Ethereum. Let’s dive into the Etherscan review.
What is Etherscan.io?
Etherscan is a blockchain explorer for the Ethereum network, enabling you to track transactions, contracts, and wallets. It offers detailed insights into every block and transaction, including hashes, addresses, and fees.
How does Etherscan Work?
Etherscan tracks and indexes all transactions and blocks on the Ethereum network. Whenever a user sends or receives cryptocurrency, the transaction details are recorded on the blockchain, and Etherscan enables you to view this information in real time. The platform analyzes data such as addresses, hashes, amounts, and fees, presenting it in a user-friendly format.
Etherscan also indexes smart contracts, allowing you to check their source code and interact with them directly through its interface. By utilizing public blockchain data, the platform ensures that information is transparent and accessible to all users of the Ethereum network.
What Is Etherscan Used For?
Etherscan users utilize the platform to track their transactions, check wallet balances, and monitor the status of transactions on the Ethereum network. Developers, on the other hand, use Etherscan to analyze smart contracts, verify their source code, and interact with contracts directly through the interface. The platform ensures transparency and provides access to crucial information for both everyday users and professionals working with the blockchain.
Is Etherscan Legit?
Etherscan is considered a secure tool because it only provides access to public information that is already recorded on the Ethereum blockchain. The platform does not store users’ personal data and has no access to private keys or wallet funds.
Ethereum scan is widely referenced and used in Ethereum-related documentation and guides as the primary tool for monitoring and analyzing transactions on the network. It is frequently cited in both developer and user communities, offering convenient and transparent access to block, transaction, and smart contract data.
Key Features and Tools of Etherscan
ETH Scanner is used by both beginners and professionals to explore and analyze data on the Ethereum network. In this article, we’ll cover both the basic functions and the more advanced tools that Etherscan provides for in-depth blockchain data analysis.
Wallet and Address Lookup
Ethscan offers wallet and address search capabilities, allowing users to retrieve information about transactions, balances, and contract interactions. You can view the transactions associated with a given address, including token transaction history and ICO participation.
Additionally, eth scan displays the current balance of both Ethereum (ETH) and other tokens, such as ERC-20 tokens, if they are linked to the specified address, providing a comprehensive view of financial activity on the network.
Transaction Tracking
One of the key features of Ether scan that enables users and developers to track the movement of funds on the Ethereum network is transaction tracking. With Etherscan, you can easily access detailed information about each transaction, including its status, amount, fees, sender and recipient addresses, and a unique transaction hash, which can be used to search for specific transactions on the blockchain.
Token and Smart Contract Analysis
ETH scanner can also be used to analyze tokens and smart contracts.
It allows you to track all ERC-20, ERC-721, and other token standards created on the Ethereum network. Users can view information about each token, including:
- Total number of tokens in circulation
- Current token balance in an address
- Token transaction history
- Contract details, such as token name, symbol, number of decimal places, and other parameters
For each smart contract, Etherscan provides detailed information, including:
- The source code of the smart contract, if published by the developers
- Transactions associated with the contract
- Interactions with other smart contracts and tokens
- Frequently used contract functions, such as function calls and state changes
Block Information
Etherscan provides detailed information about each block on the Ethereum network. Users can access block data such as its hash, creation date and time, the number of transactions included in the block, and the rewards given to miners who receive ether (ETH) for confirming and adding new blocks to the blockchain. This information offers valuable insights into how mining operates on the Ethereum network and helps track which blocks have been confirmed.
Gas Tracker & Fee Analysis
Etherscan’s Gas Tracker helps monitor the current gas prices on the Ethereum network. It displays optimal gas levels for various types of transactions, such as standard transfers or interactions with more complex smart contracts. The tracker also provides transaction fee estimates, allowing users and developers to better plan the cost of their transactions on the Ethereum network.
NFT Tracker
Etherscan provides a tool to track information about NFTs (non-fungible tokens) on the Ethereum network. With the NFT Tracker, you can search for specific tokens, verify their ownership, view transaction history, and access other data related to unique digital assets. This is useful for both collectors and developers who are creating or interacting with NFTs.
API Integration
Etherscan offers an API that enables developers to integrate Ethereum blockchain data into their applications and services. The API provides real-time information on transactions, blocks, tokens, smart contracts, and more. It is a powerful tool for creating customized solutions and automating processes, such as monitoring network events or integrating with other platforms.
Smart Contract Verification
Etherscan allows developers to publish and verify the source code of smart contracts. This is a crucial feature for enhancing transparency and trust in contracts, as verifying the code on Etherscan ensures that the source code matches the compiled bytecode deployed on the Ethereum network. This process also helps prevent bugs and vulnerabilities in smart contracts, ensuring secure interactions.
Custom Alerts and Notifications
Users can set custom alerts for specific addresses, transactions, or changes in wallet balances. This feature is useful for monitoring account activity, tracking smart contract progress, or responding promptly to important events, such as the successful completion of transactions or changes in token holdings.
How to Use Etherscan in Practice?
Let’s see how to use Etherscan’s main features in practice.
How to Check Wallet Addresses?
To check a wallet address on Etherscan, simply enter the Ethereum address into the search bar on the homepage. Etherscan will then display detailed information about the address, including its current balance, transaction history, and any interactions with tokens or smart contracts. This feature is useful for tracking your own wallet or checking the activity of other addresses.
Wallet verification with Etherscan. Source: https://etherscan.io/
How to Check Transaction on Etherscan?
To check if a transfer has gone through, simply enter the transaction hash (TXID) into the search bar on Etherscan. The platform will display the transaction’s status, including the number of confirmations and detailed information about the transfer.
Transaction Search. Source: https://etherscan.io/
Once a transaction is found, you will be able to see its status (confirmed, pending, or failed), the amount transferred, the sender and recipient addresses, the gas used, and the block in which the transaction was confirmed. This is an essential feature for monitoring the status of your transactions in real time.
Transaction details. Source: https://etherscan.io/
How to Analyze a Smart Contract?
To analyze a smart contract on Etherscan, locate the contract’s address and navigate to its dedicated page. You will be able to view the source code of the contract (if it has been verified), along with any interactions it has had with other addresses or contracts. You can also track events generated by the contract and see a list of transactions that interacted with it. This feature is particularly useful for developers or anyone looking to verify the security and functionality of a contract.
Contract review. Source: https://etherscan.io/
How to Optimize Gas Fees?
Etherscan offers a Gas Tracker tool to help users optimize gas fees. You can check current gas prices and view estimated costs for different types of transactions (such as standard transfers or contract interactions). Etherscan crypto provides recommendations for optimal gas prices based on network congestion. To reduce costs, users can customize the gas price they are willing to pay, finding a balance between transaction speed and cost.
How to View and Verify NFTs?
Etherscan also offers tools to view and verify NFTs (non-fungible tokens) on the Ethereum network. To view NFTs, simply enter the wallet address or the ID of a specific token into the search bar. You will be able to see detailed information about the token, including its owner, transaction history, and associated metadata (such as name, image, or description).
NFT Preview. Source: https://etherscan.io/
To verify an NFT on Etherscan, you can confirm its contract by checking that the token was issued using the ERC-721 or ERC-1155 standards, which are the primary standards for NFTs on the Ethereum network. This process helps verify that the token is authentic and belongs to a specific collection, which is especially important for collectors and investors.
How to Claim Tokens on Etherscan?
Find the desired token on Etherscan by entering the contract address into the search bar. The contract page should have the token minting function available. To use it, connect your Web3 wallet, such as MetaMask, and confirm the transaction to complete the operation.
How to Connect Metamask to Etherscan?
Open the contract page, then click the “Connect” button. After that, select the “Connect to Web3” option to connect your wallet. In the MetaMask pop-up window, confirm the connection request, and your wallet will be successfully connected to the contract.
How to connect wallet to Etherscan. Source: https://www.quicknode.com/
Etherscan Alternative
Let’s take a look at a few alternatives to etherscan:
| Platform | Description |
| Ethplorer | ERC-20 and ERC-721 token analysis with easy-to-use visualizations and detailed interface. |
| Blockchair | Supports multiple blockchains, including Ethereum, with tools to analyze transactions and blocks. |
| BlockCypher | Supports Ethereum and other blockchains, with APIs for developers and analytics. |
| Tokenview | Multi-functional observer for Ethereum and other blockchains, with token and transaction monitoring capabilities. |
| Etherchain | A platform for analyzing Ethereum blocks and transactions with additional features for developers. |
Conclusion
Etherscan is essential for gaining a deep understanding of how the Ethereum blockchain operates. It can be used not only to retrieve basic transaction information but also to analyze complex interactions with smart contracts and tokens. This provides users with greater confidence and control within the Ethereum ecosystem.
