We use the Etherscan.io blockchain explorer as our statistics and reporting tool for monitoring our blockchain. Since Etherscan.io recently updated our logo and contract details, we are delighted to support their efforts to be the best ethereum blockchain explorer.
Block explorers offer a graphical view of how a blockchain operates by displaying what data to record. For example, this link allows everyone to see everyone else’s balances. It is clear that only 6% of the coins are in circulation, and the remainder are still in reserve for sale to a banking partner or business partner that would like to establish a deployment strategy.
We use much of the data to understand how our blockchain works as a reporting tool as we test it by doing airdrops, merchant testing, and business deals like sending 100 million coins to aircoins for distribution in the game. https://etherscan.io/token/0xd3003b3778bf4887e73eb320b71a04728961505c?a=0x11a5e39bbe5bfcba2ed773d5ab29036f85a3876f
Now you can see how important it is to have proper documentation on Etherscan, which has recorded all 1,176 transactions so far performed on the ethereum-teen chain. We think this is a nice number of tests over the past 27 months, averaging around 42 transactions a month.
It is the most reliable blockchain reporting tool as far as we can tell from all our testing, and it has worked perfectly over the past two years. Ethereum addresses are able to stack tokens on top of their ETH balances, and since TEEN is an ETH token, there are a lot of wallets that work for us to allow for cheap sending and receiving of tokens, even if the costs of transactions has been on the rise. Since the price of Ethereum has increased, so have the gas prices on the blockchain. “It now costs about 35 Canadian cents to do a send transaction and costs nothing to receive, however, sending does require a gas fee that is used to power the network and fund the transaction. That’s how coin-miner’s make their money.”
The ethereum blockchain is a great ecosystem and one of the first blockchain that allowed deployable tokens like Teen to use Eth as gas fees to power the blockchain. Teen has great potential to be a fun and safe blockchain to use for banking in GIC funds as a loyalty token where investors put their $100 deposit in an account and receive 100,000 Teen Tokens as loyalty rewards. The bank gets the benefit of new accounts, and customers get Teen as a reward! What a great program that we have yet to implement, however, we continue to work on also being an alternative deployable currency as a social benefit, or as a deployable currency under a central bank policy.
Second on our favorite TEEN reporting tool is Ethplorer! It is similar to Etherscan, but doesn’t provide as much information on statistics:
“It took us two years for Etherscan to update the Contract on their page, and helped us get priority search features and statistics reporting so we really support Etherscan and what they are doing from a development standpoint. The be able to monitor all the ledger details of transactions and have them publicly displayed is one of the immutable benefits of blockchain technology.
Etherscan really is the best among the block explorers and has been one of the inexhaustible resources for education that I have used as part of the CPD Blockchain Course.