The cryptocurrency industry is still growing and evolving on a very big scale. EtherScan, a trusted service for tracking everything Ethereum-related, is adding a new feature to protect users from scams.
It is pertinent for users to be aware of the different things going on in the cryptocurrency space.
A Core Upgrade for EtherScan
More specifically, users need to be aware of where the funds they own comes from exactly.
The transparent nature of blockchain technology makes tracking funds easier, but it can still take up a lot of time.
EtherScan is now looking to make this process a bit more streamlined.
By launching its ETHPROTECT feature, users will be able to gain better insights into their funds’ origin.
This is especially important due to potentially tainted funds.
More specifically, no one wants to receive funds associated with money laundering, scams, or hacks.
As such, ETHPROTECT will give users details on specific Ethereum addresses and how tainted they may be.
All of this relies on community effort, however, as suspicious addresses need to be reported accordingly.
The core benefit of this solution is how it allows for real-time tracing.
Suspicious transactions will be highlighted accordingly, ensuring users know what is going on exactly.
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