What is Etherscan?

We often think that by providing our detailed information, this information is only shared with the computer, but this is not correct. On the contrary, all of our personal data and financial information are primarily stored on some third-party computers. This data is piled up on cloud services and servers of giant tech companies like Google, Amazon, or Facebook.

Companies hire trained experts to secure, store, and maintain this information. It is worth noting that attackers can access this information unlawfully at any time.

Blockchain technology has emerged. Blockchain is a collection of financial information where all transactions are publicly recorded over time. Ethereum is the latest addition to this system. Etherscan is one of the leading blockchain block explorer tools.

To understand what Etherscan is, readers can refer to the following article by Mytour.

1. What is Ethereum?

Ethereum applies blockchain advancements and replaces third-party internet servers as well as servers that store and modify personal data. This is a step towards securing personal information available with cloud services and servers.

2. What is Etherscan?

Etherscan is one of the leading blockchain block explorer tools for the Ethereum blockchain. A block explorer is simply a tool that enables users to perform complex transactions. Users can easily look up and verify all transactions they make on the Ethereum blockchain.

Etherscan is independently operated by a team of trained experts. These experts work on various decentralized information scattered across the Internet that Ethereum can execute.

Etherscan's public database is meticulously indexed. Once indexed, it is available on the official website. Etherscan's sole mission is to promote blockchain transparency by indexing and executing all searchable transactions.

Etherscan is often mistaken for a wallet service provider. However, Etherscan has no control over transactions. Furthermore, there are no options to alter or manipulate any bits of information.

3. A deeper look into Etherscan

The concept of Ethereum emerged in 2013 and was first deployed in July 2013. Unlike Bitcoin, Ethereum is quite fast and can process about 15 transactions per second.

Essentially, Etherscan consists of 2 important components:

- Public key.
- Private key.

If you pay attention, you will notice that they are like a string of numbers on a credit card. This string plays a crucial role, helping the bank determine where to deposit money after swiping the card.

Public keys and private keys are used for the same purpose, which is identification numbers to determine where the debits should be funded. These two keys are strings of characters and digits scrambled and linked by encryption.

The public key is sent to other users so they can send money to you. If the transaction involves Ether (coin), then the user sending Ether to you must be provided with an address which is a string of characters. To use Ether, you will have to access your wallet with your private key.

The private key is known only to you and cannot be shared with others. Simply put, this key is like a password, it's like the pin code people use to unlock a credit card.

4. Solutions provided by Etherscan

Etherscan provides its users with the assistance of Opiria to directly contact users or collect users' personal data through direct links of companies instead of contacting insecure data brokers.

Etherscan provides the following solutions by offering a secure open market and enabling:

- Users' personal data, which they can control and know who is sharing their data.
- Appropriate compensation for users to provide personal data.
- Direct transactions of user data with companies without intermediaries.
- Encouraging users to make decisions by sharing personal data with companies.
- This helps companies create innovative products to provide better services to users.
- Quick and easy access, and providing personal data.
- Devices through which data can be easily shared.
- No fear of errors in the data processing process.
- Providing an open market and completely transparent services for buying and selling personal data.

5. Advantages of Etherscan

The biggest advantage of Etherscan is secure, efficient data transactions, ensuring user data privacy. Users can choose criteria allowing companies to access their personal data. This creates a trusted relationship between users and companies by providing and ensuring the security of data. Therefore, the token between users and companies is called Etherscan.

Furthermore, Etherscan provides both users and companies with a transparent experience because there are no intermediaries between their strategic links. In addition, users can make their own choices because without consent, the user's choice, no one can steal, refer to, or use your personal data.

The above article has just introduced you to what Etherscan and Ethereum are. Additionally, if you have any questions or need clarification, readers can leave their comments in the comment section below the article.

You can learn more about what Fintech is through the articles on Mytour, simply put, Fintech is just the combination of financial services and technology, however, to answer the question what is Fintech, we need to consider it from many different aspects.