Snowtrace.io, a premier blockchain explorer for Avalanche (AVAX), is set to discontinue its services powered by Etherscan’s Explorer-as-a-Service (EaaS) toolkit on November 30.
This closure affects only the Etherscan-dependent part of Snowtrace, urging users to diligently back vital information, from private name tags to contact verification details.
While the Snowtrace team remains silent about this decision, speculation is rife in the crypto community, with many pointing fingers at the exorbitant fees Etherscan charges for its EaaS toolkit.
Tradingprotocol’s co-founder Mikko Ohtama sheds light on the situation, estimating that an annual subscription to EaaS can set one back by $1-$2 million. He criticizes the centralized nature of smart contract verification under Etherscan, calling for a decentralized approach to boost transparency and satisfy regulatory requirements.
Phillip Liu Jr., at the helm of strategy and operations at Ava Labs, clarifies that the protocol is not winding down but is instead moving forward with better alternatives.
A blockchain explorer, integral for transaction transparency and smart contract verification, may need to be fixed for various reasons, including the expiration of service agreements or insufficient user traffic. In such scenarios, it becomes paramount for users to secure their data proactively.
Snowtrace.io’s pivot away from Etherscan marks a critical moment in the blockchain explorer landscape, bringing to the fore the pressing issues of service affordability and the need for decentralization. As the crypto community grapples with these changes, the responsibility lies with users and developers alike to ensure data security and champion innovative solutions, setting the stage for a more transparent and accessible future in blockchain exploration
Also Read: Avalanche Network (AVAX): A Close Look at the ‘Ethereum Killer’
