Solana block explorer Solscan acquired by ethereum blockchain explorer Etherscan

An analogous tool for the Solana blockchain, Solscan, was purchased by the Malaysian company that created the well-known Ethereum blockchain explorer, Etherscan. By making this change, Etherscan is able to increase “the accessibility of blockchain data across multiple networks”.

Terms of the deal were not made public.

Described as an Ethereum substitute, Solscan was founded in 2021 and provides monthly services to over 3 million users in the Solana ecosystem. Along with managing accounts, monitoring transactions, and searching for investment opportunities across multiple cryptocurrency platforms, the platform assists users in viewing information in the Solana blockchain.

This action is taken as Solana closed out 2023 strongly. In December 2023, NFT sales on the network overtook Ethereum sales for the first time.

Following the collapse of cryptocurrency exchange FTX, which held a sizable portion of Solana’s token, the token’s value dropped below US $10. Currently, the token trades at about USD 100.

Etherscan’s founder and CEO, Matthew Tan, said in a statement that Solscan’s experience in facilitating easy access to and use of blockchain data “aligns perfectly” with Etherscan’s goals.

Although the company’s headquarters are in Singapore, the majority of Solscan’s staff, including its founders Long Vuong and Le Ho, are located in Vietnam.

Based on information from Alternatives.pe, the company was primarily owned by Singapore-based blockchain software developer TomoChain Lab. The co-founders of Solscan and TomoChain are the same.