SnowTrace, a prominent blockchain explorer tool catering to the Avalanche ecosystem, has announced that it will cease operations, closing its website on November 30th. The platform, renowned for its services, which were powered by Etherscan’s Explorer-as-a-Service (EaaS) toolkit, will discontinue its Etherscan-powered explorer.
In an official statement released on October 30th, SnowTrace made it clear that users must take action before the impending shutdown. Users are urged to safeguard their critical data, including private name tags and contact verification details, before the closure.
Although the exact reason for discontinuing the explorer was not explicitly disclosed, some industry experts have pointed to the substantial service fees associated with Etherscan’s EaaS toolkit as a probable cause.
Mikko Ohtama, co-founder of Trading Strategy, shed light on the cost of an annual subscription to Etherscan’s EaaS service, stating that it could range between $1 Million to $2 Million per year. Ohtama articulated concerns about the centralization of smart contract verification, emphasizing the need for decentralization.
He noted that regulators and other stakeholders may raise questions about the integrity of a system whose source code is hosted by a private company in Malaysia.
The news of SnowTrace, an AVAX C-chain browser developed by the same team behind the well-known Etherscan explorer, discontinuing its services on November 30th sent ripples through the blockchain community. There were concerns raised about the potential impact on the Avalanche ecosystem.
Phillip Liu Jr., who serves as the head of strategy and operations at Ava Labs, the organization behind Avalanche, reassured the community that the protocol is not halting its operations. Liu stated that they are “moving onto something better” and reaffirmed their commitment to the project’s continuity.
Etherscan’s EaaS service, for which SnowTrace served as an interface, offers essential tools for blockchain projects, including a block explorer and application programming interface (API) solutions.
The discontinuation of a block explorer can result from various factors, such as the non-renewal of an EaaS service agreement, insufficient bandwidth, or limited traffic. In such cases, users are advised to diligently back up their data, encompassing private name tags, transaction notes, contract verification details, and other relevant information.
SnowTrace’s decision to cease operations caught many in the blockchain community off guard, prompting speculations and queries among users who relied on the platform for their blockchain ventures. Some individuals speculated that the AVAX team might be considering abandoning the platform entirely.
Nonetheless, Phillip Liu Jr. of Ava Labs offered assurance that the project would introduce a noble and forward-looking solution. This declaration alleviated some of the concerns among users, while others eagerly anticipated further details on the future direction of Avalanche’s blockchain explorer services.
The closure of SnowTrace’s Etherscan-powered explorer marks a significant development in the ever-evolving blockchain landscape, underlining the importance of transparency, decentralization, and the need for reliable blockchain tools.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/10/31/avalanche-explorer-snowtrace-ceases-etherscan-operations/