Etherscan Code Reader: A New Tool to Understand Smart Contracts

#Etherscan the preeminent block explorer and analytics platform for Ethereum, has launched a new feature called Code Reader. This tool allows users to query OpenAI's large language model ( #LLM ) to research Solidity smart contracts.

Code Reader is a valuable tool for developers and other interested parties who want to better understand the code of a smart contract. It can be used to get a list of smart contract functions, interact directly with the smart contract, and learn how to integrate a given smart contract with other decentralized apps.

For example, Code Reader can be used to understand the token contract for the recently-in-vogue #memecoins PEPE. The contract is "ownable," meaning an account (owner) can be "granted exclusive access to specific functions." These functions include transferring ownership of the contract, setting rules for token transfers, adding or removing addresses from a blacklist, and renouncing ownership of the contract.

Code Reader can also be used to determine if ownership of a contract has been renounced. In the case of #pepe ownership has been renounced, which means that no one can modify the blacklist or perform administrative actions. This means that users can freely send $PEPE back and forth without the risk of censorship.

It is important to note that Code Reader is still in beta and should not be relied upon in a vacuum. The answers provided by #OpenAI LLM are not always perfect, and it is important to do your own research to ensure that you understand the code of a smart contract before interacting with it.

Overall, Code Reader is a valuable tool for developers and other interested parties who want to better understand the code of smart contracts. It is easy to use and provides a wealth of information, but it is important to be aware of its limitations.

How to Use Code Reader

To use Code Reader, simply visit the Etherscan website and click on the "Code Reader" tab. Then, enter the address of the smart contract you want to research. Code Reader will then provide you with a list of the contract's functions, as well as a brief explanation of each function.

You can also interact directly with the smart contract by clicking on the "Interact" button. This will open a new window where you can send transactions to the contract.

Limitations of Code Reader

Code Reader is still in beta, so it is important to be aware of its limitations. The answers provided by OpenAI's LLM are not always perfect, and it is important to do your own research to ensure that you understand the code of a smart contract before interacting with it.

Additionally, Code Reader is not able to provide information about the security of a smart contract. If you are concerned about the security of a smart contract, you should consult with a security expert.

$ETH $BTC

Ethereum has had a noticeable rise in use since the creation of smart contracts. Let's explore how many people own $ETH in 2023?

Ethereum has established itself as the number two cryptocurrency by market capitalization. This can be attributed to a consistent growth of unique holders over time, with a small number of addresses owning large quantities of the total supply.

This post aims to provide you with the necessary tools to research how many people own Ethereum at any given time and how to compare historical data. 

Key Resources to Research About Ethereum Owners

Etherscan: The primary resource for researching all things Ethereum, including holders, value of holdings, and ERC-20 token data.

YCharts: A great way of pooling together data in chart form, with an easy, at-a-glance view available for Ethereum holders over time.

Binance Academy: Gain a greater understanding of how Ethereum works, and how ERC-20 tokens and dApps influence holder numbers.

How Many People Own Ethereum?

Currently, there are an estimated 232.21 million Cumulative Unique Addresses, according to Etherscan. This represents a 17.99% increase in addresses compared to one year ago (196.8 million). The number of unique Ethereum holders has increased by 0.05% in the last 24 hours alone.

You can check the amount of Cumulative Unique Addresses at any time by heading to Etherscan’s Unique Address Chart. Hover over the date in question to receive data for that specific day, or pull the latest available data on the day of your search.

The current Ethereum holder count stands at just over 232 Million.

How Many Ethereum Holders Are There?

The growth in Ethereum holder numbers over time has been impressive. Due to the continuous growth of the wider ecosystem, unique holders have increased every year for the past five years according to Etherscan.

The Ethereum Unique Addresses chart shows continuous growth. Can this be taken at face value?

With the growth of the DeFi space and Decentralized Exchanges (DEX), the number of Ethereum holders has reciprocally increased. Reason being, you typically need to hold at least a small amount of ETH for gas fees, or to swap into another ERC-20 token on a DEX like Uniswap.

Ethereum Daily Active Addresses

While the growth of Ethereum holders is a noteworthy achievement for the ecosystem as a whole, there are caveats to this data. According to YCharts, the number of daily active addresses stands at 414,344, down 14.59% compared to the same time last year.

Therefore, despite the increase in holder numbers year-on-year, the activity of these addresses is actually dwindling. There are a few estimated guesses as to why this could be:

Airdrop Participation: Major airdrop events like the Arbitrum airdrop can see users create addresses en masse, in order to gain more airdrop rewards. These addresses are usually left dormant after airdrops have been claimed, and thus can’t be seen as active addresses.

Meme Coin Mania: With the return of meme coin season and the explosion of tokens such as $PEPE, new holders can be attributed purely to the purchases of these meme coins. Due to their speculative nature, meme coins remain one of the biggest influences of onboarding new crypto users, and thus, holders.

Secondary User Wallets: Most experienced cryptocurrency traders won’t connect their cold wallet to a DEX, to avoid exposure to bad actors and exploits. They will subsequently create secondary wallets to use for connecting to DEXs and dApps. So, despite the Cumulative Unique Address number growing, a significant quantity will be secondary wallets of existing Ethereum holders.

Conclusion

The number of Ethereum holders has consistently increased over the last five years. With that being said, there are anomalies in the data that must be considered, including airdrop events and secondary user wallets. The Ethereum ecosystem does continue to attract large projects and developers due to how it has stood the test of time.

As long as the number of ERC20 tokens continues to grow, the Cumulative Unique Address count should increase reciprocally. But remember, these unique addresses do not necessarily correspond to new users.

#ETH #Ethereum #airdrop #Etherscan #whale

Etherscan, the most popular #blockchain explorer for Ethereum, recently announced adjustments to its platform that by default conceal zero-value token exchanges. This follows allegations of widespread "address poisoning" assaults that have targeted unsuspecting individuals for phishing and spam. Users must now manually activate the display by visiting the settings page of the #Etherscan website in order to view such tokens.

Coin Aquarium has tweeted about this earlier.

What Causes Address Poisoning?

An example of a phishing scam is address poisoning, which preys on people who have acquired unwanted tokens and who do not thoroughly check their addresses before transferring bitcoin. An attacker will send a worthless token with a value close to zero or no value at all to the address of a user in order to "poison" that user's token. The transaction will then be recorded in the crypto wallet's history and made available for selection the next time a transfer is conducted.

The con's objective is to trick the user into unintentionally sending #cryptocurrency to the con's related address. Hackers create fake wallet addresses using sophisticated software that, at first appearance, resemble "poisoned" ones. According to reports, these fake addresses all start or conclude with the same few characters.

Zero-Value Tokens Disabled By Etherscan

In order to combat such attacks, Etherscan has disabled the visibility of zero-value token transfers. This way attackers fail to gain access, while users are prevented from sending tokens to such poisoned addresses. However, users are free to check their zero-value balances at any time just by disabling the feature in the site’s settings.

The cryptocurrency community has stated its approval of the recently adopted modification in light of this latest #crypto news, and they are asking for additional block explorers to carry out the same role. Similar to this, blockchain hardware wallet manufacturer Ledger advises customers to immediately hide any undesired NFT collections they get.

This news is republished from https://coinaquarium.io/

Etherscan, the prominent blockchain data provider and explorer for Ethereum, has announced the acquisition of Solscan, one of the leading data analysis platforms for Solana. This merger represents Etherscan’s ongoing push toward improving the accessibility of insights across an array of blockchain networks.Since its launch, Solscan has established itself as a vital data source for the Solana community, serving over three million active monthly users. Like Etherscan, it enables users to analyze detailed address, token, transaction, and NFT metadata on Solana in a user-friendly interface. Solscan also provides developer APIs and customizable dashboards for blockchain analytics.“The Solscan team has proven expertise in surfacing blockchain insights over the years,” said Matthew Tan, CEO and founder of Etherscan. “Their commitment to making data transparent and digestible for users strongly aligns with Etherscan’s core mission.”For Etherscan, the strategic acquisition continues its expansion into new blockchains to provide multi-chain coverage. Integrating Solscan notably boosts its presence in the fast-growing Solana ecosystem.What this means for Etherscan and Solscan moving forwardAccording to Solscan and Etherscan, users can expect:Continued focus on credible neutrality in blockchain data provisionAddition of useful feature integrations across Etherscan and SolscanA more streamlined user experience between platformsSolscan conveyed its excitement regarding the new partnership in a recent tweet:“We are honored to announce the acquisition of Solscan by Etherscan, the world’s leading block explorer. A momentous step that will be a stepping stone for greater contributions to the Solana ecosystem,” it wrote.In a follow-up tweet, the Solscan team pledged “continued excellence on Solana” alongside enhanced integrations and user experience with Etherscan’s support.By consolidating two leading platforms under one roof, the merger forms a powerful launchpad for traders, developers, and casual users to access reliable Solana and Ethereum data.#Etherscan #dyor

Etherscan serves as a comprehensive blockchain explorer for the Ethereum network. This user-friendly website allows you to access a wide range of on-chain data, including transactions, blocks, wallet addresses, smart contracts, and more. As one of the most popular Ethereum blockchain explorers, it offers its services free of charge.

Utilizing Etherscan offers several benefits, as it enables you to gain insights into your interactions with the blockchain, other wallets, and Decentralized Applications (DApps). Moreover, it empowers you to identify suspicious activities and ensures your safety in the crypto space.

To leverage Etherscan’s capabilities, simply input a wallet address, transaction ID (TXID), contract address, or any other identifier into the search field. The displayed information will vary depending on your query, but typically includes details on associated transactions, addresses, timestamps, and amounts.

Beyond passive observation, Etherscan facilitates direct interaction with smart contracts, enabling you to initiate transactions, check gas fees, and even search for airdrops. Embracing Etherscan as a valuable tool empowers you to navigate the Ethereum ecosystem effectively, enriching your crypto experience and understanding.

Why should I use Etherscan?

Etherscan stands as one of Ethereum’s most reputable and widely used block explorers. However, it is essential to comprehend the significance of employing a block explorer like Etherscan to examine on-chain data. Enhancing your understanding of blockchain interactions empowers you to navigate DApps and transactions more effectively. Additionally, this knowledge serves as a safeguard, enabling you to identify suspicious activities and ensure your safety in the crypto space.

One valuable feature provided by Etherscan is “whale alerts,” which notify you when significant amounts of a cryptocurrency are transferred to an exchange. Though not always indicative of a sell-off, this information could suggest a notable market movement. Moreover, you can track the token movements of project founders, a useful tool for spotting potential scams or rug pulls, wherein developers abandon projects and sell their coins.

By leveraging Etherscan’s insights, you gain a deeper understanding of the blockchain’s dynamics, facilitating informed decisions and a safer crypto journey. Embracing this invaluable resource empowers you to make the most of your crypto experience while staying vigilant against potential risks.

#WebGTR #Etherscan #crypto #Ethereum #DApps