Etherscan is a block explorer for the Ethereum blockchain. It allows users to view and explore actions on the Ethereum blockchain and check things like gas fees and smart contracts.
What is Etherscan?
According to Etherscan, it is “the leading block explorer for the Ethereum Blockchain. A block explorer is a search engine that allows users to easily look up, confirm, and validate transactions that have taken place on the Ethereum Blockchain.”
While Etherscan is an explorer for the Ethereum Blockchain, it is not created by the Ethereum Foundation.
Matthew Tan is the CEO and founder of Etherscan. Tan also founded Token Based Blockchain explorer Blockscan for Counterparty, a smart contracts blockchain built on top of Bitcoin.
What is Etherscan used for?
Etherscan allows users to explore data on the Ethereum blockchain by collecting real-time transaction updates and information about the network and smart contracts. The tool is a one-stop shop for aggregated data and can be used by anyone from developers to NFT fans.
Search functionality
Etherscan lets users search for addresses. These addresses display things like transaction history, token balances, and interactions with smart contracts. Similarly to search engines, there’s a search bar where users can type out the transaction or hash keys they are looking for.
Transaction tracking
Etherscan’s functionality lets users view and track transactions in real time. Users can see details such as transaction hash, sender and receiver addresses, gas fees, and transaction status.
Smart contract analysis
Users can view smart contracts' source code, bytecode, and transaction history. The tool makes it easier for users to have “human readable code” accessible when researching smart contracts.
Token monitoring
ERC-20 tokens, which are tokens built on the Ethereum blockchain, can be monitored on Etherscan. Users can check token balances and transaction history. Etherscan also makes it possible to track the number of addresses that hold the token and the volume of trading in the last 24-hour period.
Network statistics
Etherscan gives users real-time network statistics for Ethereum and historical data on network performance.
Checking gas fees
Users can check and track gas prices on Etherscan’s Gas Tracker Page. The option to do so is helpful, particularly because of how sensitive Ethereum’s main site is to congestion when setting gas fees.
How is Etherscan connected to Ethereum?
Ethereum is a decentralized, open-source blockchain with smart contract functionality. Its native cryptocurrency is Ether (ETH), and it’s the largest blockchain for NFTs.
Etherscan is a block explorer for the Ethereum blockchain, providing a way for users to explore, search and analyze the Ethereum blockchain data. It is connected to Ethereum through its access to the Ethereum network's data.
When a transaction occurs on the Ethereum network, it is recorded on the blockchain, which is a decentralized, public ledger of all transactions on the network. Etherscan retrieves this data from the Ethereum network's nodes and uses it to create an interface that allows users to search and analyze the information on the blockchain easily.
Using Etherscan with OpenSea
You can use Etherscan on OpenSea to verify the authenticity of NFTs and to view an NFT’s transaction history.
While you can access Etherscan directly from its main page, you can also access Etherscan from an OpenSea listing or through MetaMask on OpenSea. While on OpenSea, access your MetaMask wallet, select the three dots at the top right of the extension, and select "View Account on Etherscan" to view your token balance and transaction history on Etherscan.
On any Ethereum OpenSea listing, scroll down to the “Details” section, expand it, and click the “Contract Address,” which will take you to the NFT’s Etherscan page.
Etherscan creates an easier, more digestible experience for users looking to better understand the information that lives on Ethereum’s blockchain.
🧠 Q&A
Etherscan is a block explorer open to anyone with or without an account. Those who choose to set up an account can use it as a way to save the transactions or addresses they are tracking.
Web3 technology is still new and constantly evolving, so while no single action guarantees protection, there are best practices that can help. The best rule of thumb is that if something looks too good to be true, it probably is. Never share your wallet’s seed phrase, be careful when taking actions using your wallet, and make sure to thoroughly evaluate NFTs before buying.
OpenSea also has an icon visible via a blue checkmark badge on a collection or account. A blue checkmark badge on an account means that account has been verified. A blue checkmark badge on a collection means the collection belongs to a verified account and has significant interest or sales. (OpenSea does not endorse verified accounts or badged collections, and OpenSea makes no representations regarding the NFTs in a verified account or badged collection.)
OpenSea makes no representations or guarantees regarding the collections highlighted in this article. Users must do their own research and use their own judgment before buying any NFT, including those included in the collections highlighted in this article. The descriptions of the collections highlighted in this article were adapted from descriptions provided by the NFT creators, not OpenSea.
In web3, the term “gas fee” refers to the payment needed to execute transactions on the blockchain. Gas fees increase when more people use applications that run on top of a blockchain’s network, therefore competing for space within the block. Think of it like Uber’s surge pricing model that increases the cost of booking a ride during the busiest commuting times. OpenSea also doesn’t control gas fees, set gas fees, or receive any of the gas fees incurred by users on the platform. Instead, they all go to network validators or miners.
When you start the NFT purchase process using OpenSea, you’ll see the gas fee broken down by your wallet provider, so you can watch the fee refresh and complete the transaction when it’s low.
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