LibreScan, one of the first multi-chain Decentralized Blockchain Explorers (DBE), is now available for public use.
Users can anonymously self-host LibreScan for tracking Ethereum, Binance Smart Chain, or any EVM-compatible blockchains on their own devices. The developer community is encouraged to contribute to this open-source project by connecting their preferred Layer 1 or Layer 2 blockchains to LibreScan.
The collapse of FTX serves as a compelling illustration of the crypto community’s dependence on centralized entities and tools, including centralized exchanges and blockchain explorers such as Etherscan or BscScan. The sudden downfall of FTX, a top 10 centralized exchange, had a profound impact, affecting not only over a million registered users who were unable to access their funds but also causing significant disruptions in the broader cryptocurrency market.
This incident underscores the precarious nature of relying solely on centralized platforms for trading and tracking blockchain and cryptocurrency transactions.
The foundation of blockchain technology is decentralization. Unfortunately, the reality is that most of the crypto community relies on centralized services like Etherscsan or BscScan. Blockchain explorers, while invaluable for monitoring transactions, are centralized points of access to blockchain data.