ETH prices may be going down but the Ethereum platform is still growing and expanding. Developers are continuously developing and implementing new features in a bid to make the platform more effective. The latest in the list of developments is EthValidate.
What is EthValidate?
EthValidate is a new feature on the Etherscan platform. It is designed to enable verification of transactions, addresses, and even token balances on Etherscan’s nodes by using other nodes distributed across the Blockchain. This new feature comes in the backdrop of a new partnership between several Ethereum-based platforms.
EthValidate will be accessible to Ethereum users on MyCrypto, Infura, and MyEtherWallet. All three platforms entered a partnership that has allowed them to develop and add an extra layer of security – this layer is built upon the new verification feature on Etherscan.
More Than Just A Validation Tool
One of the reasons behind Ethereum’s growing popularity is the user-friendly API services that make it easy and quick to develop decentralized apps. In fact, it is one of the factors behind the recent influx of cryptocurrencies.
As such, it doesn’t come as a surprise that the new EthValidate feature also offers API services that support the development of decentralized apps. These API services can also provide data feeds for the Ethereum Blockchain platform. The feature is also expected to offer more services in the near future as it is still in its early stages of development – at the very least, EthValidate will be availed on more Ethereum wallets.
How Does EthValidate Work?
EthValidate is quick and easy to use thanks to its simple interface. What’s more, the validation process is the same for all three wallets. The feature is categorized under the “Tools & Utilities” section. Users should click on this tab and navigate to the tab labeled “Validate Transaction” – a simple click on this tab will initiate the process. Validation is almost instant and you will get a report page highlighting a transaction’s hash code and status, in addition to other data.
As mentioned earlier, validation is facilitated using independent nodes distributed all over the Blockchain platform. All the nodes currently in use have been provided by the three wallets. However, anyone can provide a node (as long as certain requirements are met) by creating an issue on Github and transferring the URL to the Etherscan team.
Etherscan is the most notable block explorer on the Ethereum Blockchain platform. It is an independent platform maintained by a group of volunteers and Ethereum enthusiasts. Its main services involve checking, confirming, and validating transactions. However, it also provides auditing services for any token created on the Ethereum platform. The latest development of EthValidate is expected to solidify the platform’s leading position.
Ethereum users working with Infura, MyCrypto, and MyEtherWallet can now verify transactions faster thanks to the new EthValidate feature, courtesy of Etherscan. This feature is easy and quick to use. It is also capable of facilitating the creation of new decentralized apps. EthValidate is expected to become available on more wallets in the future.