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Etherscan, a prominent blockchain data provider, has acquired Solscan, a leading explorer for Solana, to expand its data services by integrating the two platforms. Etherscan announced details of the acquisition on X, saying it hopes to continue to provide “credibly neutral and fair access to blockchain data.”
📢 We are excited to share that Solscan has now joined Etherscan!
With the addition of @solscanofficial to the team, we hope to continue executing on our vision of providing credible neutral and fair access to blockchain data. pic.twitter.com/N8TcxQHFLi
— Etherscan (@etherscan) January 3, 2024
According to Etherscan, the integration aims to improve access and experience for the more than 3 million monthly Solscan users by leveraging synergies in features and capabilities between the Ethereum and Solana explorers.
Etherscan examines Ethereum data, including wallet transactions and token details, and provides insight into individual wallets and tokens. Solscan is a blockchain explorer specific to Solana, with comprehensive analysis and user-friendly access to transactions, addresses, contracts, blocks and tokens. Although these features are not mutually exclusive and can be found in both, Solscan has a simpler interface and offers more intuitive visualizations.
It is worth noting that through this acquisition, Solscan will likely be included in Etherscan’s suite of products for its Explorer-as-a-Service (EaaS) offering, which provides explorers for major chains such as Optimism, Arbitrum, Polygon, Linea, Scroll, and Base , amongst other things.
“The Solscan team has proven their expertise over the years by providing detailed insights and analysis. Their expertise in making blockchain data accessible and user-friendly also aligns perfectly with our mission at Etherscan,” shares Matthew Tan, CEO and founder of Etherscan.
Etherscan claims that the broader goal of the acquisition is to “make on-chain data easily accessible, driving mainstream blockchain adoption.”
Blockchain explorers serve an important purpose – they allow anyone to easily monitor activity on public ledgers. Services like Etherscan and Solscan help decode dense on-chain data into readable insight, and help contextualize information about transactions, tokens, NFTs, addresses and more.
The acquisition can be seen as a response to the demand for on-chain data as Solana’s native cryptocurrency, SOL, experienced a sharp surge in 2023. Etherscan did not provide public information about the acquisition’s price and terms.
Data from CoinGecko indicates that SOL is the fifth largest cryptocurrency by market cap, with its spot price trading at $110, down 3.4% in the past 24-hour cycle. Using the same indicators and cycle, Ethereum’s ether (ETH) has a market cap of $283.8 billion, with the token trading at $2,360, down -1.1%.
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