Introducing The MultiversX Explorer: Visualizing Hypergrowth Through A New Suite Of Key Metrics
Explorers can be seen as search engines for blockchain networks. They play an essential role, allowing users to accurately read and navigate through everything happening in the ecosystem, both in real-time and historical.
For instance, you can track the source of funds you just received, see which was the first block added to the MultiversX Network or simply use it as a research tool.
The period ahead will reveal two things, which are intricately connected.
(1) Taking the time to properly address fundamental limitations such as scalability and UX will reveal an enormous potential.
(2) The ecosystem can accelerate growth with the go-live of the new, composable, and strategic components meant to remove barriers to entry and build.
It will be interesting to see it all unfold, and the upgraded MultiversX Explorer will make the task of tracking growth possible at a glance, through a new and complete suite of adoption metrics.
Let’s go through the most important additions:
Dashboard
The entire Dashboard has been redesigned in line with the MultiversX identity while introducing new key metrics and new ways of showcasing relevant data.
New daily stats have been made available, with a focus on Daily transactions and Daily active accounts. For Validators, there is now geographical distribution data alongside the total number of nodes.
Builder and economical focused metrics have been added in a separate column, making it easy to drill down into specific segments. These include:
- Developer rewards: This shows the total rewards paid to developers. 30% of all transaction fees paid to a smart contract goes to the deployer
- Fees Captured: Total EGLD captured from all transaction fees that go into reducing the total maximum supply
- Applications Deployed: The total number of smart contracts deployed on the mainnet
Ultimately, daily ecosystem insights provide a clear picture of the MultiversX Network activity. Top 10 breakdowns of most used apps, where smart contracts are ranked based on the number of transactions, most transacted NFTs, and most transacted tokens.
Transactions
After careful consideration and a close review of similar products, the total transactions count now includes smart contract calls and operations that sum up close to 300M txns.
The search process also witnessed a great transformation, with newly introduced filters for hash, status, age, shard and method scaling navigation simplicity and efficiency.
The token operations section from the transaction details also has a new addition, now showcasing the USD value from the day of the transfer for each displayed token.
NFTs
NFTs have gained amazing traction in 2022, with more than 8000 collections minted on the MultiversX Network. To make it increasingly easier for users and enable them to have a quick glimpse of the most popular collections, the new explorer now displays rarities, traits and attributes.
Analytics
Given the hypergrowth wave coming with so many product releases, expanding the utility and value proposition of blockchains, new adoption metrics are key to visualize their impact.
The Analytics section offers a comprehensive view on the blockchain activity, providing valuable insights on various metrics, such as: active addresses, token & NFT transfers, gas fees captured, developer rewards & more.
The improvements don’t stop here. Head on to the explorer to find out what else has been upgraded or added. Whether you’re a developer, power user, on-chain analyst, or just a DeFi enthusiast, with the new additions you are sure to benefit from fresh perspectives and enhanced decision-making.
Lucian Mincu, co-founder and CIO of MultiversX, is a self-taught tech prodigy, previously engineer at Uhrenwerk 24, Cetto, and Liebl Systems. and co-founder & CTO of MetaChain Capital. His ability to navigate complex challenges and carve out solutions is nothing short of extraordinary, making him a driving force behind the success of MultiversX.
