Polygonscan: What It Is and How To Use It

Blockchain explorers are essential tools in the cryptocurrency world, serving as platforms that pull data from a blockchain and present it in an easy-to-navigate and search-friendly manner.

Etherscan.io stands out as the leading blockchain explorer for Ethereum, renowned for its user-friendly features such as the Gas Tracker, Developer APIs, and trackers for both ERC-20 and ERC-721 tokens, among others.

The Polygon Blockchain has witnessed a surge in activity, with transactions exceeding 200 million. This growth is attributed to over 400 Dapps developed on Polygon and more than 1.3 million unique wallet users.

Polygonscan serves as an invaluable block explorer for individuals utilizing the Polygon blockchain. It offers capabilities to monitor, scrutinize, or authenticate transactions and smart contracts. Grasping its functionality and the breadth of its features is crucial for maximizing its potential and benefits.

What is Polygonscan?

Polygonscan is a comprehensive block explorer and analytics platform for the Polygon blockchain, designed to streamline the user experience for both developers and general users. It acts as a versatile search engine, enabling users to effortlessly track transactions, analyze addresses, monitor gas prices, verify smart contracts, and keep tabs on the latest activity in the network, including MATIC, Polygon's native token.

This platform was launched to address the increasing demands of the Polygon network's users, offering features like transaction tracking and a gas tracker, with plans to expand its capabilities further. Polygonscan's intuitive interface showcases an overview of MATIC and the latest network activities, categorized by blocks and transactions, accessible right from its homepage.

The genesis of Polygonscan was motivated by the need to alleviate issues related to network congestion and the complexities of the Ethereum network, which still operates on a proof-of-work system. This resulted in increased transaction fees and slower processing times on Ethereum. Recognizing these challenges, the same team behind Etherscan and the Matic network, comprising Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic, developed Polygonscan in 2017. Their aim was to provide a solution to the Polygon Blockchain's scalability issues.

Polygonscan's release significantly aids developers in launching Dapps on the Polygon network more efficiently and ensures that users have an enhanced experience with their favorite apps, whether it's for trading, buying, and selling NFTs, or other activities. Additionally, it supports various mainnet networks connected to the Polygon network, including Polygon Mainnet, which has seen a surge in popularity for its Matic tokens.

In essence, Polygonscan plays a pivotal role in simplifying the discovery of blockchain-based transactions and smart contract verification, using comprehensive on-chain statistics and blockchain data. Its creation represents a key step in addressing the limitations of the Ethereum network and enhancing the functionality of the Polygon ecosystem.

How Polygonscan works

Polygon's consensus mechanism streamlines the process for developers to initiate or manage projects on an active blockchain. The integration with the Polygon network allows for the utilization of a Proof of Stake (PoS) sidechain, which enhances the overall functionality of the blockchain.

All transactions within the Matic PoS system are finalized on the Ethereum Blockchain, leveraging an extensive network of validators worldwide. This setup not only speeds up transactions but also helps in reducing the cost of transactions. Additionally, Polygon's blockchain operates autonomously yet in conjunction with the Ethereum network, enhancing security through its network of validators.

In comparison, Tronscan offers a different approach, serving as a tool for users to explore, confirm, and authenticate transactions on the TRON Blockchain. Tronscan comes equipped with essential blockchain explorer features, enabling users to search for transactions, accounts, blocks, nodes, smart contracts, and on-chain data. It also supports functionalities such as the creation of tokens, deployment of contracts, and participation in voting, making it a versatile tool for the TRON Blockchain ecosystem.

The main function of Polygonscan

Polygonscan serves as a tool for navigating and searching transactions within the Polygon blockchain, developed by the same team that created Etherscan. Its primary role is to facilitate the search for transactions and user addresses on the Blockchain. Additionally, it offers functionalities like smart contract verification and access to various on-chain data specific to Polygon.

Similar to Etherscan, Polygonscan is user-friendly, allowing for easy retrieval of information by simply entering a name, transaction code, or address. The platform is also rich in useful information, including Blockchain statistics, NFTs, and transaction gas fees.

Using Polygonscan

The role of Polygon in cryptocurrencies is quite diverse, with several key functions:

Business Insights: Polygonscan allows users to view and search for detailed business transactions. By entering a wallet address, users can access comprehensive data on crypto asset transactions.
Gas Trackers: This feature calculates the fees for transactions within the Blockchain. On the Polygon network, users can easily ascertain the fees involved in a transaction.
Interoperability: This refers to the capacity of different systems or components to exchange data or information. While compatibility doesn't ensure optimal resource utilization by each system, it facilitates easy interaction between different blockchains. Tokens on Polygon are designed to operate seamlessly on the Ethereum Blockchain network.

Other Useful Tools on Polygonscan

Using Polygonscan doesn't require an account, but registering one unlocks additional features. Here's an overview of these enhanced functionalities, along with some added relevant information:

Watchlist Page within Polygonscan Account

Notifications for Tracked Addresses: You can set up alerts for any transactions (incoming, outgoing, or both) associated with addresses of interest. This feature is particularly useful for monitoring wallets for security or investment purposes.

Transaction Private Notes

Personal Annotations on Transactions: Add notes to specific transactions for future reference, such as marking significant transfers or reminders. These annotated transactions are accessible under your profile and visible in the Transaction Overview. It's a convenient way to organize and recall important transaction details.

Private Name Tags

Custom Address Labeling: Think of it as a personalized 'Address Book' within Polygonscan. You can assign readable names to wallet addresses, making it easier to identify your own wallets or those of friends and colleagues. This feature aids in quick recognition and reduces confusion when dealing with multiple addresses.

Token Ignore List

Selective Token Visibility: As a registered user, you have the option to hide certain tokens from appearing in your token-holding lists on the site. When a token is hidden, its value won't be factored into the total value of the tokens held in the address. This is particularly useful for decluttering your portfolio view, especially if you hold a variety of tokens with varying relevance to your investment strategy.

These features enhance the user experience on Polygonscan, offering a more tailored and efficient way to interact with the Polygon Blockchain.

The difference between Polygonscan and Etherscan

Polygon is often dubbed the 'Ethereum killer' due to its array of features that mirror those of Ethereum, its predecessor. Polygonscan, akin to Ethereum's Etherscan, exemplifies this similarity.

The primary distinction between Polygonscan and Etherscan lies in the blockchain they each utilize. Polygonscan, along with Polygon Chain and Quick Swap, operates on the Polygon Blockchain. In contrast, Etherscan and Uniswap function on the Ethereum Blockchain.

Additionally, while both platforms share many features, Etherscan boasts a range of exclusive features, attributed to its earlier creation. Conversely, Polygonscan is still developing some of its features, with several currently in the testing phase.

The difference between Polygonscan and Solscan

Polygonscan's unique attributes facilitate a more seamless experience for developers utilizing the features of the Polygon Blockchain network.

In comparison, Bscscan provides functionalities that enable monitoring of NFT growth and verification of the latest NFTs on smart contracts.

Solscan, on the other hand, aids in uncovering information on the Solana Blockchain. This includes details on crypto transactions, addresses, smart contracts, and tokens. Solscan excels in converting detailed and recorded transactions into easily comprehensible formats.

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