What is BscScan? How to use BscScan simply
What is BscScan?
BscScan (bscccan.com) is a blockchain explorer built by the same team that created Etherscan. It provides an analytics platform for BNB Smart Chain (BSC), but also includes plenty of other useful features. If you want to keep a close watch on DeFi projects built on BSC, this can be a useful source of information.
What is BscScan used for?
BscScan is similar to the Explorer on many different Blockchain Platforms. The explorer provides real time information about the activity of a blockchain including transaction information, block generation, tokens,... BscScan can be used for:
- Looking up transactions and tracking their progress.
- Viewing the most recently added blocks to the blockchain.
- Examining the balances of wallets and any transactions that have occurred.
- Looking for, reading, and interacting with smart contracts that have been put on the blockchain.
- Exploring the availability of tokens and other cryptocurrencies.
All of this information is available without having to sign up and is completely free. A blockchain explorer just displays information.
BscScan vs. Etherscan: What are the differences?
As both services are designed by the same team, BscScan's visual interface is quite similar to Etherscan's. Both of them are as simple as possible for newcomers. But there are some differences between BscScan and Etherscan:
- Supported Wallet: BscScan only supports 4 wallets, compared to 7 wallets supported by Etherscan.
- Features: Etherscan has the advantages of Blockchain APIs and Crypto APIs.
How to read the BscScan website
First, you will see the BscScan’s home screen and some basic information about the BNB Chain.
Then in the “Blockchain” section, you can find most information about transactions on the chain.
Next, the “Validators” and “Tokens'' are where the information of BNB’s Validators and all BEP-20, ERC721, ERC-1155 tokens are placed.
Lastly, from the “Resources” section, you can look up some charts about Blockchain Data on BNB, top statistics and APIs for developers.
There are plenty more features that can be helpful on BscScan which I will introduce later.
How to use BscScan
How to check transactions on BscScan
Looking for a transaction on BscScan is similar to looking up a transaction on other block explorers. The transaction ID or any wallet addresses engaged in a transaction will provide the results.
BSCScan will query its data when you enter the information into the search box, including the transaction amount, date, block number, balances, transaction fees, status, and more.
How to read BscScan transactions
When providing information about a wallet address, users will see its balance based on the BNB – Binance Coin – and USD value. BscScan, on the other hand, supports BEP-20 and ERC-721 token balances, which can be accessed in the "Tokens" field.
Some keywords in this section:
- The transaction status will be either pending, successful, or failed.
- Block height acts as a network identifier to confirm when miners registered a transaction on the blockchain.
- The transaction value is presented in both BNB and USD.
- The transaction fee represents the cost of completing the transaction on BNB Smart Chain.
- A private message: Senders can add a private message with their transaction, which BscScan users can view after logging in to their account.
How to check Gas Price with BscScan Gas Tracker
Gas Tracker is a new feature on BscScan. This is where you can see all the information about gas fees on BNB Chain such as average gwei, Block Size or Average Utilization. At the bottom side of the site, you can see top 25 Gas Guzzlers as well as Gas Spenders.
BNB has relatively low fees. In BNB, 1 gwei is 10 - 9 or 0.000000001 BNB. With an average gas price of around 6.5 gwei, sending 10 BNB should cost less than ten cents. In fact, sending ten or even a hundred times that amount still shouldn't cost you more than 20 cents.
BscScan Gas Tracker: bscscan.com/gastracker
How to verify & publish contracts on BscScan
Users interacting with smart contracts benefit from source code verification. BscScan will match the produced code with that on the blockchain by submitting the source code.
A "smart contract", like a contract, should offer end users with additional information about what they are "digitally signing" for and allow users to audit the code to independently verify that it accomplishes what it is meant to do.
On BscScan, you will have a section to verify & publish contract, here is how to use it:
- Your contract must be already deployed on BNB Chain.
- Go to Verify Contract site, click "Verify and Publish".
- Fill in the correct information of your contract, including Contract Address, Compiler Type, Open Source License Type.
- Enter the Solidity Contract Code. Select "Yes" for Optimization, if that's enabled.
- Click "Verify and Publish" to finish this process.
How to find tokens on BscScan
The BNB Smart Chain ecosystem supports three token types: the native BEP-20 variation and Ethereum's ERC-721 and ERC-1155 variants.
Users may track the top tokens, prices, volume, market size, number of holders, and if the asset is cross-chain compatible for BEP-20 tokens. The capacity to move money between numerous blockchains is gaining traction with each passing quarter, since blockchain interoperability is one of the issues that third generation blockchains are addressing.
Supporting ERC-721 is important since some of these tokens are cross-chain interoperable. Furthermore, some projects may release half of their tokens on one chain and half on another. BscScan can track over 31,358 ERC-721 token contracts, presenting an intriguing scenario.
ERC-1155 is a token standard mainly used for NFTs (Non-Fungible Tokens), users can see a total of 3,778 ERC-1155 token contracts.
How to find BSC yield farm list
The BscScan yield farming dashboard shows you all the top current farming opportunities. You can access this over the “Resources” button and click on “Yield Farms List”.
Visit Yield Farms List on BscScan at: bscscan.com/yieldfarms
On their websites, you can see the most recent farms, where to find them, and how they work. You may produce yield on BNB Smart Chain by using sites like PancakeSwap.
BSC is perfect for smaller participants to enter the yield farming industry and earn their fair portion of the available crops because its costs are modest when compared to alternatives like Ethereum. However, be cautious because there are several scam enterprises out there. Make sure to DYOR (Do Your Own Research) and never put your money at danger.
How to use BscScan Revoke and Token Approval Checker
BscScan also has tools to help you review and revoke token approvals for all your Dapps. To revoke token approvals on BNB Smart Chain, simply go to Token Approvals, enter your wallet address, and see which Dapps have access to your tokens. Then you just need to connect your wallet and revoke the tokens you don't want.
Visit BscScan Token Approval Checker: bscscan.com/tokenapprovalchecker
Some BscScan FAQs
Is BscScan Safe?
BscScan is the leading blockchain explorer for BNB Smart Chain, built by the same team behind Etherscan. There would not be any problem while using BscScan. Not only is BscScan safe, it also provides you with a lot of helpful information about BNB Chain.
Is BscScan compatible with NFTs?
BscScan is fully compatible with non-fungible tokens, also known as NFTs, because it allows users to track ERC-721 tokens.
BNB Smart Chain, like Ethereum, is home to a number of NFT-related projects because of its cheaper costs and general efficiency and throughput. Users may use BscScan to check their NFTs by using the transaction hash, NFT smart contract, or wallet address.
The blockchain explorer, on the other hand, is incapable of showing the art included inside that non-fungible token. To view the artwork, users must first connect to a marketplace or other service provider that supports the NFT token standard, and then project one obtained. BscScan, on the other hand, will show the token ID, the NFT project, the transaction history, and the interaction with the smart contract.
How do I check if liquidity is locked on BscScan?
To correctly determine if a token's liquidity is locked, go to bscscan.com/txs, find the token with the contract address, then go to the transfers section. Go to page 1 or any other page that contains the liquidity addition.
Then, after clicking on the "Txn hash", scroll down to locate the liquidity pool tokens sent to the dev wallet. When you click on the dev wallet, you'll be sent to their 1p holdings. If they have no 1p in their possession, then check the transfer area to see whether they’ve delivered the 1p tokens to the burn address; if not, simply remember that you're dealing AT YOUR OWN RISK.
The burn addresses are the addresses to which one currently has access. If liquidity is not burnt or locked for an extended period of time, it might be extracted from 1p holdings, causing the token to devalue.
Some BscScan alternatives
Binance Chain Explorer
Binance Chain Exploreris a Explorer coming directly from Binance. This explorer allows people to interact with the blockchain. A user may view information about blocks that have been added to the blockchain, transactions that have occurred on the blockchain, wallet balances, and BNB metadata using this interface.
This app is also available on mobile.
BitQuery Explorer
BitQuery is a GitHub API driven and D3 based search engine for open source repositories. BitQuery pursues three main objectives: Query the repository metadata via text mining and clustering methods, thus providing an automatic categorization system for software developers.
BitQuery also has its own explorer, called BitQuery Explorer. It provides information for more than 20 blockchains, mainly Ethereum L2 and BNB Chain.
Visit BitQuery Explorer: https://bitquery.io/
There are plenty more explorers in the BNB Ecosystem. But Binance Chain Explorer and BscScan are the most common native explorers for BNB Chain.
Conclusion
In this article, I have provided full information about BscScan and some ways to use BscScan to check all necessary information on BSC. Any other tips for using BscScan? Please comment below to discuss with Coin98 Insights!