TL;DR
- ZachXBT criticized the quality of several block explorers, noting that many need a complete overhaul.
- Bitcoin explorers like Blockchair, Mempool, and WalletExplorer were rated as “acceptable” or “good.”
- He was especially critical of the explorers for Cosmos, Bittensor, Hedera, Harmony, and Algorand, labeling them as the worst.
Renowned crypto researcher ZachXBT has criticized the quality of block explorers across various blockchains, highlighting the need for improvements in the tools used for transaction tracking, especially outside the Ethereum ecosystem.
Through a post on X, ZachXBT evaluated different block explorers, emphasizing that while some are acceptable, many others require a complete overhaul to provide adequate service.
Among the block explorers that received better ratings were those for Bitcoin, such as Blockchair, Mempool, and WalletExplorer, which were described as “acceptable” or “good” for their transaction-tracking capabilities. These explorers stand out for offering relatively functional tracking, though they still fall short of the level of excellence needed to meet all market demands.
Every other chain besides these ones I rate in “Okay” tier have bad block explorers and need a complete overhaul.
Good block explorers
-Bitcoin has Blockchair, Mempool, WalletExplorer which are acceptableOkay block explorers
-EVM chains supported on OKLink
-Solana has…— ZachXBT (@zachxbt) September 5, 2024
Regarding Ethereum Virtual Machine (EVM)-compatible chains, ZachXBT mentioned OKLink as a block explorer that remains in the “acceptable” category. Solana’s explorer, Solscan, was also noted for its advanced filtering capabilities, which facilitate data analysis within the blockchain. However, despite these functionalities, ZachXBT emphasized that there is still room for improvement in these explorers.
The Worst Explorers According to ZachXBT
Tron, on the other hand, has Tronscan, which was evaluated as an “acceptable” explorer. Though it still has potential for improvement in areas that leave much to be desired. Ripple uses Bithomp, which was highlighted for its ability to attribute transactions to services and exchanges, making it a useful tool for users seeking to identify movements within the network.
ZachXBT was particularly critical of block explorers for Cosmos, Bittensor, Hedera, Harmony, and Algorand. Describing them as the worst on the market. According to the researcher, these explorers do not meet the necessary standards to provide effective transaction analysis. Limiting their utility for blockchain users and analysts.
Finally, the researcher commented that if he were to start a blockchain analytics company. He would focus on developing private tools and compliance data specifically aimed at law enforcement agencies. Highlighting the current demand for these types of services in the market.
With these observations, he aims to highlight the shortcomings of current block explorers and the urgent need for substantial improvements in these tools. Which are essential for transparency and security in transaction tracking across different blockchains.
