Open Course 12: How to Use Etherscan?

Bixiaobao
4 min readJan 19, 2021

Welcome to the Bixiaobao Blockchain Open Course! Our topic today is: how to query information on etherscan?

I. What is etherscan?

Etherscan is the official blockchain browser supported by Ethereum. We can not only acquire data of Etherscan itself, but also check the transfer routes, holders, transaction volume and contracts of all the tokens issued based on Etherscan.

Therefore, etherscan is a necessary query tool for Ethereum enthusiasts, and one of the ways for beginners to understand Ethereum.

Website: https://etherscan.io/

II. Main functions

1. Check the online transfer fee (GAS)

What is GAS? If Ethereum transfer is a car, then the GAS is the gasoline and the price of GAS is the price of gasoline. Bixiaobao has written an article about GAS. Read “Defi paid hundreds of dollars of fees! Read and understand GAS” if you are interested.

Click on “more” and query the prices of GAS.

Generally, etherscan gives 3 prices, which are Low, Average and High. As we all know, the higher the price of GAS set at the time of transaction is, the more miners will prioritize the packaged transactions. Therefore, you can set the GAS price higher if you are in a hurry, and vice versa.

2. Check the correct token address to prevent “fake coins”

This year Uniswap has had several incidents of fake tokens resulting in serious losses. So how to check whether a token is real or not?

Here is an example. Generally, the contract address is public, like: 0x05a0d55bbb2c047a3624af4db6d3a3ce2ea7da09, paste this address into the search box, then here comes the following results.

Where the token finder refers to the tokens associated with this contract, we click on it and the results are as follows.

The name of this token is Penguin Finance, and the total supply is only 2,717 with 136 holders.

Obviously, this is a shitcoin.

As you can see from the social profiles, it lacks basic information, which means that the official website doesn’t even have a Twitter account or other communities. Undoubtedly, it is a fake coin.

There is another kind of “fake coin” that forges BNB, HT and other well-known tokens. How can we determine the authenticity of these tokens? In fact, you only need to verify whether the address of the “fake coin” is the same as the official address given to you to know the authenticity, if not, then it is undoubtedly a fake coin.

In addition, you can also check the official address of the token through the official website of Bixiaobao.

For example, on www.bixiaobao.com, we find the official address of BNB token is “0xB8c77482e45F1F44dE1745F52C74426C631bDD52”, and then you can see that there are 314,121 holders of BNB by clicking on “Holders”, and the top ones are the official addresses of Binance, which are true.

3. Transaction Status Inquiry

When we make a transaction, the status of “Pending” is quite common, and through the transaction status query, we can predict when the transaction will be completed.

As shown in the picture below.

We can see that the transaction has not been completed yet, and it is expected to take 45 seconds. The transaction is worth about 0 Ethereum and costs $14.8 in fees (including GAS of 67Gwei), if the current minimum recommended GAS price of the network is greater than 67Gwei, then the transaction will be delayed until the minimum GAS price drops below 67Gwei.

4. Other statistical functions

Etherscan also provides statistical functions, which can be accessed via Home — Resources — Charts and Statistics.

For example, we can check daily Ethereum price, average block time, Ethereum inflation rate and other data on etherscan.

In a word, as an essential tool for getting started, skilled use of etherscan can greatly improve efficiency and avoid detours.

Blockchain Open Course is an introductory course on blockchain by BiXiaoBao.

For more blockchain knowledge, follow the column of Bixiaobao.

References:

1. etherscan.io

2. www.bixiaobao.com

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