Articles on: Blockchain and Tokenomics

Morpher’s Blockchain Explorer - Morpher Scan

A blockchain explorer is a tool that allows users to browse and navigate through blockchain. Blockchain explorers play a crucial role in making blockchain technology more accessible and transparent.

Morpher is built off the Ethereum sidechain since Ethereum is not able to manage several thousand transactions. Therefore, Morpher protocol is deployed in order to be able to manage an efficient trading environment off the Ethereum Mainchain. Therefore, in order to be able to track these transactions on the sidechain, Morpher created it’s own block explorer; Morpher Scan.

Morpher Scan

Morpher has its own blockchain explorer called Morpher Scan. We aim to provide complete transparency for all transactions that occur on the Morpher Sidechain, and Morpher Scan is an essential tool for users interested in tracking their transactions.

Morpher Scan provides users with information concerning their transactions on the Morpher platform, including but not limited to:

Address Lookup: Users can look up specific wallet addresses to view the transaction history associated with that address. This is particularly useful for transparency and verifying payments.

Token and Asset Tracking: Morpher Scan allows you to look up your token transactions and track the position they were opened on. The two main events in token transactions are:

Token Burning: This refers to tokens that are used for opening a position, or for when a withdrawal is complete.

Example: Let’s say you open a position on Morpher for 1,000 MPH, you will be able to see it on Morpher Scan with a specified Transaction Hash (the address at the top of the transaction).

For withdrawals, you will see the same transfer type along with a unique transaction hash assigned to the withdrawal.

Token Minting: This event occurs when users close positions, or complete a deposit, or purchase MPH on the sidechain.

Example: When you close that same position, the tokens left from the transaction whether you gained or lost on the transaction. In the image below you can see that from the same 1,000 MPH position, you gained 3 MPH, therefore, the token minting is at 1003 MPH.

For deposits, users will see the amount of MPH they deposited as the same transfer type (Token Minting).

Transaction Search: By providing a transaction hash, you will be able to search for particular transactions by entering transaction IDs/Hashes, wallet addresses, or other transaction specifics. This functionality is vital for validating transactions, monitoring payments, and ensuring that funds have been dispatched or received.

Transaction fees (Tx Fee) that are seen on Morpher Scan are automatically paid with virtual ETH which is automatically topped up onto your account, once you successfully register onto the platform.

Updated on: 17/01/2024

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