Looking for the leading blockchain explorer for the Binance Smart Chain? Congratulations! You have found it. Actually, BscScan is such an explorer. Unbelievable but still true: it was built by the same team behind Etherscan. The main functions of BscScan are verifying smart contracts, validating BSC transactions and tracking transactions. Thanks to a BscScan, we have an opportunity to find out wallet addresses, contracts, transactions, and many more.
Need proof that everybody is provided with transparency to the Binance ecosystem? So, the matter is that BscScan indexes the Binance Smart Chain. Consequently, it becomes searchable through a marvelous and helpful user interface.
We should notice that Binance Smart Chain is constantly growing concerning on-chain transactions and usage. As public chains are open to us, we are able to follow developments by ourselves.
Let’s get acquainted with BscScan!
As we remember, public blockchains have the following feature: everyone with an address can interact with them. Please, mind that the development of blockchains is permissionless, too. If we have the relevant expertise, we are able to deploy their DApp on a blockchain.
The following reason has led to quick development speeds in the Decentralized Finance sphere. Binance Smart Chain is considered a young blockchain, but it is associated with steady growth. It is proved by the fact that there is much publicly available on-chain information that makes it easy for traders and investors to check the network’s activity. In addition, in case we are in search of the on-chain data, a blockchain explorer like BscScan is the easiest way to find everything we need.
What is BscScan?
BscScan is very similar to other blockchain explorers for various cryptocurrency. With the help of it we have a chance of looking up wallet addresses, smart contracts, transactions by navigating the menu.
As it has been already mentioned, Etherscan and BscScan were made by the same team. That is why we see a lot of similarities in their visual interface. The functionality and features of BscScan rise and develop daily, so the blockchain explorer becomes more useful to its users.
Additionally, it is possible to set up an account on BscScan as on Etherscan. Doing so is not required to access the functionality, even though it can be useful to developers. Moreover, BscScan does not function as a wallet service, as users will need to search for external solutions for that goal.
BscScan has got a great reputation by analogy EtherScan (it is a popular Ethereum block explorer). Consequently, BscScan can help you navigate the blockchain. If you learn even a bit how it works, you can solve the main problems and queries very quickly.
Firstly, if you use DApps, you should know how to search for a smart contract on BscScan. It will be very beneficial to you. You can understand if their smart contracts are verified and, moreover, interact with them if the DApp's API is down.
Secondly, if you have a wish to monitor large transactions, please, learn to set up whale alerts. For instance, a big number of BNB moving onto an exchange perhaps suggests that a sale is coming soon. You will be able to track the wallets of DeFi protocol founders and observe if they move tokens.
How do I find the Binance Smart Chain unique address count?
If we need to learn how many users the network has, BscScan's unique address count is a great method to fulfill it. You can find out the number of unique addresses in Chart & Stats and then in the Unique Addresses Chart. Please, mind, that if a blockchain has one hundred unique addresses, it does not mean that the blockchain has one hundred users. The reason for this is that users can create multiple addresses. Nevertheless, it will be very difficult to see if the addresses in question belong to one and the same person.
Is BscScan compatible with NFTs?
Just like any other digital asset available on BSC, you can quickly look up individual NFTs and their smart contracts.
For instance, we can have a look at transfers of NFTs in this series, which wallet addresses hold them, and how many wallets get them. However, you won't be able to see the picture, song, file, or asset attached to the NFT because they are not stored on the blockchain.
How to verify smart contracts on BscScan?
The great news is that if you use BscScan, you can enter any contract address in order to verify it. Moreover, you will be able to see if the compiled code is the same as the code running on the blockchain. In this case, you will notice a tick of a green color next to the contract on the toolbar. This feature makes users be able to audit and verify code on their own.
Closing thoughts
To sum up, please, use the features of BscScan so as to understand your way around a blockchain in an easy way. Try to do your own research in order to be successful both in trading and yield farming. This can consist of checking if a token is certified by the BscScan team, if the contract is open-source and was audited, and visiting the project's blog or social media accounts to get a detailed insight. Enjoy!
