New Block Explorer Added To MyEtherWallet To Improve Usability And Comprehension Of Ethereum

Block Explorer Added To MyEtherWallet To Improve Usability And Comprehension Of Ethereum

Blockchain technology can be overwhelming for a newcomer to the industry, but a recent launch from MyEtherWallet aims to improve the experience. According to a report from The Block, the company is launching an open-source blockchain explorer, which will make navigation easier. The explorer, dubbed EthVM Alpha, lets the user see blockchain histories, balances, and smart contracts with an open-source platform.

The launch of this blockchain explorer tool was announced on March 11th. Speaking on the new project, lead developer Aldo Borrero commented that the whole creation of Ethereum was meant to be both decentralized and open, which EthVM Alpha does as well. Ultimately, Borrero hopes to see a “global community” involved in the expansion and improvement of the project over time.

A spokesperson from MyEtherWallet said that the new tool rivals, due to the new features, open source protocols, and encouragement of “community collaboration.” Open source software has the distinct advantage that there are potentially thousands of developers working independently on any given project around the world. Large communities for this type of development makes it easier to ensure both accountability and security. It becomes easier to find and fix any security holes quickly.

The VP for MyEtherWallet, Olga Kupchevskaya, explained that the new interest in 2017 amongst investors easily triggered an influx of investors, but there were many newcomers that were “bewildered.” The open-source blockchain tools make it easier for these newcomers to have a greater understanding of the technology and its advancement.

Before now, these goals were easily met by MyEtherWallet with the wallet interface, because it is already free. However, with the addition of EthVM Alpha, the VP believes that this is the “obvious step” for their team. The goal is that new users will be interacting with the tool to improve “crypto-literacy” and to “advance the ecosystem as a whole.” The Financial Conduct Authority (FCA) recently published a report to show that the general understanding of these crypto assets is low, with about 70% of respondents remaining unsure of what they are.

MyEtherWallet is completely free and is an open-source wallet interface from Ethereum. The goal of the organization is to allow users to keep control of their private keys and holdings while interacting with the blockchain.

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