Etherscan acquires Solscan to expand its blockchain data services

Ethereum blockchain data services company Etherscan announced Wednesday that it has acquired Solscan, a block explorer for the Solana blockchain, in a bid to expand its capabilities across multiple blockchains.

Built and launched in 2015, Etherscan is a block explorer for the Ethereum blockchain, which means it provides access to blockchain data and allows users to search, sort and filter transaction data. Blockchains are distributed digital ledgers made up of records called blocks that are chained together cryptographically to form an indelible historical record of transactions across many nodes.

Blockchains are best known for their role in cryptocurrencies such as bitcoin, the largest currency by market cap, as well as Ethereum and Solana. They also record transactions that support nonfungible tokens, which represent the ownership of digital assets such as images, artwork, digital trading cards and video game items.

Founded in 2021, Solscan has many of the same features as Etherscan for the Solana blockchain. These include transactional data across the Solana network such as detailed address information, token data, NFT metadata and more.

As a blockchain, Solana was created as a competitor to Ethereum to provide high transaction speeds with low fees for decentralized applications and NFTs, two features that Ethereum is prominently used for.

In a blog post about the announcement, Solscan said that since it launched, it has become the preferred block explorer for Solana and is the leading choice for users to gain insights into the ecosystem.

“The Solscan team has proven their expertise over the years by offering detailed insights and analytics,” said Matthew Tan, chief executive and founder of Etherscan. “Their expertise in making blockchain data accessible and user-friendly also aligns perfectly with our mission at Etherscan.”

Solscan secured $4 million in funding in December 2021 and used the rise to launch its analytics dashboard that provides users a personalized experience for viewing blockchain data.

Going forward, the two block explorers will operate together to expand Etherscan’s vision of providing support for analysis and services across multiple blockchains. Etherscan said the acquisition will be a “collaborative merging” designed to provide “credibility neutral and equitable access to blockchain data.”

Image: Pixabay

Retrieved from: (22/3/2024)