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MyEtherWallet Has Launched EthVM an Open Source Blockchain Explorer

The famous open-source web-based Ethereum wallet service MyEtherWallet has released a new open-source Ethereum blockchain explorer called EthVM. Users will be able to see their transactions of ERC20 and ETH tokens on a single place via the EthVM blockchain explorer. It has basically been developed as a rival to Etherscan so that developers would not have to depend on this closed source solution for building their own blockchain data interpretations.

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EthVM blockchain explorer

Blockchain explorers are considered to be a very important part of cryptocurrency space as they help users understand activities happening on-chain. They also help users to read the blockchain data by transforming it into charts which can be understood without any difficulty.

These are also helpful for several services related to cryptocurrency such as Whale Alert’s Twitter accounts as well as Expensive Ethereum Transactions which are powered through these blockchain explorers. They can also be used as a key tool to analyze suspicious illicit activities happening on the blockchain

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Now, MEW is also launching an Ethereum-based blockchain explorer known as EthVM. The Ethereum wallet service started the development of EthVM in the year 2019. A beta version of this blockchain explorer was rolled out on August 24. MEW will now launch it officially and will introduce user-friendly features into it. According to the company, this service is more transparent and efficient as compared to Etherscan.

While talking about the launch of EthVM, the Vice President of MyEtherWallet (MEW) Olga Kupchevskaya said:

“At MyEtherWallet, we strongly believe that product diversity and community collaboration are important for the successful global adoption of Ethereum. We hope EthVM’s open-source approach and simple architecture will inspire more people to share their ideas about what Ethereum data processing should look like, as well as drive innovation by removing barriers to entry for developers.”

As the blockchain data is very crucial for both professional as well as new users, services like EthVM which are open-source will provide them easy access to the blockchain data.

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MubaShar Nawaz

MubaShar Nawaz is an experienced crypto writer working for Tokenhell. Having passion for writing, he covers news articles from blockchain to cryptocurrency.

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