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Avalanche explorer SnowTrace to halt operations

2min Read

Explore why SnowTrace is closing down its Etherscan-powered service and the impact of rising costs in the blockchain space.

SnowTrace Blockchain

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  • The team did not offer a detailed explanation for this move.
  • Some suggest that the cost of using Etherscan’s EaaS toolkit could be a key factor.

SnowTrace, a well-known blockchain explorer tool catering to the Avalanche ecosystem, has announced its decision to shut down its website by 30 November.

The announcement made on 30 October explicitly stated that it was only the Etherscan-powered explorer service that will be discontinued.

The team did not offer a detailed explanation for this move. However, some industry observers have pointed fingers at the service fees associated with Etherscan’s Explorer-as-a-Service (EaaS) toolkit.

 

Users of SnowTrace have been advised to take immediate action by saving essential backup information before the impending shutdown.

This includes private name tags and contact verification details. Some suggest that the cost of using Etherscan’s EaaS toolkit could be a key factor behind this decision.

Mikko Ohtama, co-founder of Trading Strategy, raised concerns about the substantial annual subscription fees for EaaS. This fee can range from $1 million to $2 million.

He emphasized the need for decentralization in smart contract verification. Ohtama also expressed doubts that regulators and others would accept a scenario where critical verification processes are conducted by a private company based in Malaysia.

SnowTrace to move forward to “improved services”

Additionally, Phillip Liu Jr., the head of strategy and operations at Ava Labs, a prominent blockchain platform and technology provider, commented on the situation.

Liu clarified that the protocol behind SnowTrace is not ceasing its operations. Instead, it is pivoting toward something that offers improved services.

An update from Avalanche’s official X account announced that the Avascan explorer team would take over from the Etherscan-based block explorer.

The Avascan team will introduce a new version of the block explorer, featuring a comparable interface and extending support to all C-Chains and Subnets. A live demo of “Snowtrace.dev” is already accessible for testing.

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Saman Waris works as a News Editor at AMBCrypto. She has always been fascinated by how the tides of finance and technology shape communities across demographics. Cryptocurrencies are of particular interest to Saman, with much of her writing centered around understanding how ideas like Momentum and Greater Fool theories apply to altcoins, specifically, memecoins. A graduate in history, Saman worked the sports beat before diving into crypto. Prior to joining AMBCrypto 2 years ago, Saman was a News Editor at Sportskeeda. This was preceded by her stint as Editor-in-Chief at EssentiallySports.
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