What is Arbiscan? Everything You Need to Know

What is Arbiscan?

Arbiscan is a blockchain explorer that has been specifically made for the Arbitrum blockchain network. It is just like Internet Explorer but only allows you to search for data on the Arbitrum network.

Arbitrum is one of the layer 2 crypto projects for Ethereum that reduces traffic and gas fees on the network enabling fast and economical transactions. And by providing an effective scaling solution, Arbitrum has become a go-to blockchain network for users in the crypto ecosystem.

This calls for active monitoring of the Arbitrum blockchain network, which is where Arbiscan comes in. Arbiscan provides real-time information about transactions, smart contracts, tokens, and addresses, accompanied by an easy user interface. Moreover, Arbiscan not only provides you with the data, it enables you to evaluate it.

How Does Arbiscan Work?

Arbiscan actively taps into the Arbitrum blockchain network and indexes data found in the network. Afterward, it organizes the data and keeps updating it as new transactions, tokens, addresses, and smart contacts occur in the network. The following functions are performed simultaneously by Arbiscan to make this work.

• Node interaction and Real-Time Analysis: Arbiscan provides real-time data by keeping track of activities on the network by using a RPC (Remote Procedure Call) protocol, called JSON-RPC. By using complicated algorithms and analytic skills, Arbiscan can predict the ongoing trends in the network, the health of the network, and many other such insights.
• Decoding Smart Contracts: The data available to Arbiscan is in hexadecimal format. Users can only understand it after Arbiscan converts the data into readable information using the contract’s Application Binary Interface (ABI).
• User interface: Arbiscan has a user-friendly interface that enables users to navigate through the tool and find data of their interests effortlessly.

Key Features of Arbiscan

Arbiscan is a multi-specialty tool that has many interesting features.

• Enables users to view Block Details: Just like Internet Explorer, Arbiscan is a block explorer that allows users to view details about a block like block height, transaction history, etc.
• Tracks Gas price: Arbiscan provides present and past gas price data that enables users to manage transaction costs based on the trend.
• Decoding: Data present in Hexadecimals is decoded by Arbiscan to be readable to general users.
• Tracks transactions, addresses, tokens, and smart contracts: Arbiscan keeps note of every transaction, address, token, and smart contract happening on the Arbitrum network and users can view the details of the transactions, addresses, tokens, and smart contracts.
• Other smart contracts details: Arbiscan also keeps event logs and verified contract data which helps in a better understanding of the contract activity, further increasing the transparency of the interactions.

How to Use Arbiscan?

It is of no use to visit Arbiscan if you don’t know how to use the tool. So, here is the step-by-step process on how to use Arbiscan.

• Open the Arbiscan website: Search for the official website of Arbiscan in any search engine like Google, edge, etc.
• Find the transaction: On the Arbiscan website, go to the search bar and enter the address of the transaction you want to trace. Tap on the Search icon to view the transaction details.
• Explore: Once you land on the transaction details page, navigate through it to find the data of your interest.
• Do further analysis: Arbiscan provides you with various features like transaction history, smart contracts info, numerous charts, etc, to aid your analysis.
• Use the data: Lastly, use the data at your disposal to your advantage like understanding the market properly, growing your network, and other such things.

Benefits of Arbiscan

Arbiscan is a very helpful tool as layer 2 scaling is a very advanced activity. Thus, it has several advantages.

• It is very easy to navigate in Arbiscan as it has a user-friendly interface. Thus, you can easily find the information you are searching for on the website.
• The tracking facility of Arbiscan allows users to properly manage the transactions and smart contracts in the network.
• Arbiscan, also, maintains the highest levels of transparency and accountability to its users, ensuring the security of data in the blockchain network.

However, Arbiscan’s exclusive focus on the Arbitrum blockchain network may be its only weakness.