MyEtherWallet Releases New Ethereum Blockchain Explorer

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MyEtherWallet Releases New Ethereum Blockchain Explorer

MyEtherWallet, one
of the major wallet providers for Ethereum (ETH) has revealed the launch of its
own native and new open source ETH blockchain explorer, via an official tweet on Monday.

Still in Alpha

MyEtherWallet (MEW)
announced that it would be releasing the EthVM, a blockchain explorer which has
been in quiet existence on Ethereum’s testnet for a while and had been using
the data from Ropsten network.

The wallet provider
is now ready to push the alpha version of its blockchain explorer and banks on
it, becoming a major competitor to EtherScan, the most popular and most used
Ethereum blockchain explorer as of the time of writing.

MEW, however, warned
its excited users that the new version of the EthVM is still in its alpha
state, and could be liable to a few bugs and errors that had not been caught by
its developing team.

“Keep in mind that
it’s still in Alpha – please report any issues and suggestions, and help us
improve the platform!,”  the wallet
provider tweeted, asking its users to provide feedback on what would be the
beginning of another quest to dominate specific niches on Ethereum blockchain.

Why blockchain Explorers are Important

The importance of
blockchain explorers are often understated, and this is probably because not
everyone understands the total functional abilities of already popular
explorers such as EtherScan and Bitcoin’s blockhain.info. EtherScan main
selling point reads:

“Etherscan allows
you to explore and search the Ethereum blockchain for transactions, addresses,
tokens, prices and other activities taking place on Ethereum.“

However, the growing
importance of blockchain explorers exceeds tracking transactions. Apart from
keeping efficient transaction feeds, blockchain explorers also offer a range of
useful but overlooked services.

Through most
blockchain explorers, you can have access to simple tools such as biggest transactions
of the day on the blockchain, and more serious tools such as tracking Mem
pools, and double spend incidents. Other tools include tracking orphaned
blocks— such as on blockchain.info— and block feeds.

Security of wallets
is becoming more definite by the minute, and more crypto holders with access to
cold storage wallets are increasingly choosing the later. Just like Ethereum
Classic, a product of Ethereum’s conflicting hard fork— has been speculated to
be under a 51 percent attack, Ethereum has been on the forefront of news media
recently due to increasing news of successful phishing attacks on its
blockchain.



Source

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