What is Bscscan? General knowledge about Bscscan you need to know

While Ethereum owns a “multipurpose” tool called Etherscan, the Binance Smart Chain network is no less competitive when it comes to the BscScan tool that can perform many of the same operations. So what is Bscscan? Summary of Bscscan you need to know right away in the article below.

What is Bscscan?

BscScan is an abbreviation of the phrase Binance Smart Chain Scan, which is a blockchain learning tool specifically for the Binance Smart Chain platform. BSCScan was created and developed by the same team that founded Etherscan.io and it also has the same features as Etherscan. This tool allows users to easily search and track transactions, wallet addresses, smart contract verification, validators list, charts, price check, and gas fee tracking on the platform. Binance… Especially in this tool is BSCScan which can support both mainnet and testnet.

The main goal of the BSCScan tool is to allow users to search and check smart in the clearest and most transparent way. Some of the information you can find on BSCScan are: Check transactions and track their progress, check wallet balances, and see all transactions made with wallets like how,…

Why use BscScan?

BscScan is BSC’s leading blockchain explorer and is built by the Etherscan development team, so users can rest assured about the credibility of the BscScan tool.

All information on BscScan is transparent and clearly public, because this tool does not work like a wallet or has the ability to manage a portfolio, so users do not have to worry about revealing important information.

On the other hand, users can follow the most accurate and fast information to predict the cryptocurrency market.

For those who use DApp, knowing how to use BscScan is a huge plus. You can check whether smart contracts are verified or not, and even interact directly if the DApp’s API fails. Besides, the information on-chain data is always updated accurately is what any user needs to know.

Advantages of BSCScan

• Now, the BSCScan tool exists and works independently, so the database is guaranteed to be more secure than ever.
• BscScan is a block discovery and analysis platform that is freely available to anyone with internet access.
• The tool allows users to easily look up all the transactions taking place on the Binance Smart Chain.
• All information on BscScan is transparent and public, which helps users to track the information in the clearest way.
• On BSCScan, users can check whether smart contracts are verified or not, and it can even interact directly if the dApp’s API fails.
• BSCScan supports a new feature that provides ad support, for the purpose of promoting blockchain projects to users.
• BSCScan acts as a validator for BSC to provide BNB staking feature so that users can get rewards.

Instructions on how to use the basic BscScan

To be able to view and track any information by the BscScan tool, you only need to prepare your wallet address, transaction ID or smart contract address. Once you have all the above information, let’s start using BscScan!

Switch between Mainnet and Testnet

Step 1: Visit the BscScan homepage by following the link: https://bscscan.com/

Step 2: Next, select the Binance icon on the right corner of the screen.

Step 3: Select Mainnet or Testnet to be able to use BscScan.

Read information from the address of BSC wallet (BEP-20)

In this article we will take the wallet address example:

0xe4E2fE2dA648aedb4B06F0829B8D2C4a01B12D80

Step 1: Copy and paste the wallet address into the search box and then click Search.

Step 2: The screen will appear as shown below and you search for the information you need to know.

In it, you need to pay attention to the following information:

The balance represents the amount of BNB tokens.

BNB Value: represents the balance in the wallet in USD.

Token: List of tokens in the Binance wallet.

In addition, you can see some more important information below:

Transaction: List of transactions you have made in the wallet.

Internal Txns: is an internal transaction.

BEP-20 Token Txns: Transaction made with BEP-20 token.

ERC721 Token Txns: Transactions made with ERC721 tokens.

Analytics: Shows statistics, graphs related to transactions and balances in the wallet.

Comments: This shows the comments of accounts on BscScan.

In particular, users should note the detailed information in the Transaction section, including the following:

Txn Hash: is the transaction code and each transaction has only one unique code.

Block: is the block location where the transaction is processed.

Age: Time of transaction.

From: The sending wallet address.

OUT/IN: OUT represents the transaction sent from this wallet. And IN represents the transaction received by this wallet.

To: The address of the receiving wallet.

Value: Transaction value.

TxFee: the fee the sender has to pay for a transaction.

So, We have answered your questions about what is BscScan. And general information about Bscscan you need to know. Hopefully, the sharing of the article will help you better understand this tool and use it effectively.