How to Use BscScan

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BscScan

Blockchain explorers are essential in keeping tabs on whichever ecosystem they are developed for. BscScan is one of the newest developed blockchain explorers. It tracks transactions and keeps tabs on the Binance Smart Chain.

This is the best way to show the public or you as an investor the system’s transparent and fair nature. Additionally, it gives you the freedom to learn more about the Binance ecosystem by just navigating menus.

To enjoy the full benefits of BscScan, follow through to learn a few things about it.

What is BscScan?

A BscScan is a Binance Smart Chain explorer developed with features similar to those of EtherScan. It’s one of the essential tools to have since it gives you power, knowledge, and trust to the Binance ecosystem.

The BscScan allows you to track transactions, validate BSC transactions, verify contracts, etc. With a BscScan, it is possible to lookup wallet addresses, transactions, contracts, and other features.

To provide everyone with transparency to the Binance ecosystem, BscScan indexes the Binance Smart Chain. This makes it searchable through a convenient user interface.

How Do I Find Transactions on BscScan?

The process of finding a transaction on BscScan is similar to any other block explorer. Once you use the transaction ID or wallet addresses, you are able to access the results easily.

But you have to ensure you feel in the query details that BscScan asks. This includes personal information, transaction amount and status, etc.

Once you enter the wallet address, the balance information appears in Binance coin and USD value.

Looking Up Transactions by ID Or Hash

You could also look up a transaction on BscScan using the transactions Hash. A Hash is a string of letters and numbers that tracks all Binance Smart Chain ttransactions.

This method provides much more information such as

  • Transaction status: shows the status of your transaction. Will appear as pending, successful, or failed. 
  • Block height: this confirms when the miners recorded your transaction.
  • Transaction value: the value of your transaction. Comes either in BNB and USD value
  • The transaction fee: shows how much the transaction cost on the Binance Smart Chain. 
  • A private note: this is the private message you include when completing a transaction.

What is the Validator Leaderboard?

The Binance Smart Chain requires validators to exercise some degree of centralization. Validators have voting power and a little bit of control over the chain depending on the amount of BNB nodes they hold.

The leaderboard shows most of the validator’s activities, such as blocks they process, blocks they validate, and when they are active.

BscScan is the leading validator since it holds the highest voting power with a over 745,525 BNB staked. When necessary other holders can delegate their BNB to the leading validator and make 13.8% APR.

The Yield Farms List

The Yield Farm List is a new feature that allows users to find an up-to-date list of their options in the BNC platform.

BEP-20 and ERC-721 Tokens

Since the Binance Smart Chain ecosystem can support these two tokens, you can track and their prices, value, volume, market cap, etc., with the BscScan.

What “Verify Contract” Does

The verify contract allows users to verify if the compiled code for any contract matches what is running on the BSC system.

Is BscScan Compatible with NFTs?

BscScan is compatible with non-fungible tokens since it supports ERC-721 tokens. However, it cannot depict the art with NFT tokens.

Conclusion

A BscScan explorer is a must-have tool if you want to keep tabs with activities of the Binance Smart Chain. It gives you the power to enjoy the transparent and fair nature of this blockchain. Additionally, you will be able to tap into the database and track all your transactions.