Etherscan is one of the most popular services out there to trace the Ethereum blockchain. Users use it to trace past and live transactions. It has the record off every transaction ever made on the Ethereum blockchain with details like the recipient, there sent, gas used and the time taken. Etherscan has been adding new features on a regular basis and their latest inclusion is tools to track decentralised exchanges.
One of Etherscan’s core feature is to track ERC20 tokens. Users can track the movement of tokens between wallets and the gas used to move them. Whole decentralised exchanges have been built on top of Ethereum to trade these ERC20 tokens. Some of the popular decentralised exchanges include Bancor, DDEX and Radar Relay.
Users can create smart contracts to execute trades without having to rely on a middle-man to hold your funds. Decentralised exchanges are seen as the future of Cryptocurrency exchanges on the wake of exchange hack like Coincheck. Decentralised exchanges have the security of the blockchain, making them hack-proof.
Etherscan’s new tools help track orders on these decentralised exchanges. Users will be able to track individual trades made on these exchanges, along with the wallets used for those orders. Etherscan also shows a pie chart visualising the total volume of orders on each exchange.
The next tool is the ability to see order books on all these exchanges. The order book makes it easy for users to determine where they should trade a particular token for the best price possible.