Etherscan is an indispensable tool for anyone interacting with the Ethereum blockchain. Whether you're sending tokens, minting NFTs, or exploring smart contracts, understanding how to use Etherscan effectively can save you time, money, and confusion. In this guide, we’ll walk you through two of its most practical features—Gas Tracker and NFT Tracker—and share expert tips to help you navigate the Ethereum ecosystem with confidence.
What Is Etherscan?
Etherscan is a blockchain explorer specifically designed for the Ethereum network. It allows users to search and verify transactions, blocks, wallet addresses, smart contracts, and other on-chain data in real time. Created by a team of crypto enthusiasts, Etherscan operates as a public service, offering free access to transparent, decentralized data.
Because Ethereum relies on a distributed ledger maintained by thousands of global nodes, retrieving transaction history directly from the blockchain would require downloading hundreds of gigabytes of data—something impractical for most users. Etherscan solves this problem by indexing all that information and presenting it in an easy-to-use interface.
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Why Use Etherscan?
Blockchain technology runs on consensus: every transaction must be validated and stored across numerous nodes worldwide. As of 2025, there are over 6,200 Ethereum nodes globally, with nearly half located in the United States. Each node runs software like Geth (used in 85% of cases), synchronizing the entire chain since its 2014 launch.
Downloading and maintaining this full dataset—now exceeding 600GB—just to check one transaction isn't feasible. That’s where Etherscan shines. Instead of running your own node, you can instantly query any Ethereum activity through its intuitive platform.
This transparency empowers users to:
- Verify transaction status
- Audit smart contract code
- Monitor wallet balances
- Track NFT ownership and transfers
It's not just for developers—it's essential for every crypto user.
Core Features of Etherscan
While Etherscan offers advanced tools for developers, several key functions benefit everyday users. This article focuses on two widely used utilities: Gas Tracker and NFT Tracker.
1. Using the Gas Tracker to Save on Fees
One of the biggest frustrations in Ethereum transactions is unpredictable gas fees. The Gas Tracker helps you optimize costs by showing real-time and historical fee data.
How to Access Gas Tracker
- Go to Etherscan.io
- Click More > Gas Tracker
The page displays three main sections:
(1) Current Gas Prices
Low, Average, High: These tiers reflect suggested Gwei prices based on network congestion.
- Higher Gwei = faster confirmation
- Lower Gwei = longer wait times but cheaper fees
During peak activity—like NFT mints—users often overpay, sometimes spending hundreds of dollars in gas without even completing a purchase. Smart planning avoids these losses.
(2) Platform Gas Comparison
See which platforms (e.g., OpenSea) are consuming the most gas. This insight helps you anticipate congestion periods and schedule transactions accordingly.
(3) Historical Gas Trends
Check past gas rates to identify low-traffic windows. Generally:
- Cheapest times: Weekends and late-night hours (UTC)
- Peak times: Weekday business hours in North America and Europe
Plan your trades during off-peak hours to reduce fees by up to 70%.
Understanding Gas Fee Calculation
Gas Fee = Gwei × Gas Limit × ETH Price
- Gwei: Unit of gas price; 1 Gwei = 0.000000001 ETH
- Gas Limit: Maximum amount of gas you're willing to spend
- ETH Price: Market value of Ethereum at the time
For example:
- Sending USDT might require a Gas Limit of 54,128
If current gas price is 34 Gwei and ETH is $3,200:
- Fee = 34 × 54,128 × 0.000000001 × $3,200 ≈ **$4.52**
Also note: Ethereum has a block gas limit of 15 million, meaning no single block can process more than that in total gas usage. Simple ETH transfers cost 21,000 gas; complex smart contract interactions cost significantly more.
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2. Tracking NFT Activity with NFT Tracker
The NFT Tracker lets you monitor minting and trading activity across major marketplaces in real time.
How to Use NFT Tracker
- On Etherscan’s homepage, go to More > NFT Tracker
- Choose between Trade or Mint views
Key Insights Available:
- Trade View: See recent sales across OpenSea, Rarible, and SuperRare
Filter by marketplace and view:
- Buyer & seller addresses
- NFT name and ID
- Token standard (ERC-721 or ERC-1155)
- Transaction timestamp
- Sale price (in ETH or USD)
This transparency lets you analyze trends, spot undervalued collections, or verify counterparty legitimacy before accepting offers.
Pro Tip: Research Potential Buyers
If someone makes an offer on your NFT:
- Copy their wallet address
- Paste it into Etherscan
- Review their balance and transaction history
For instance, if a buyer owns multiple high-value NFTs (like "DEMI HUMAN" avatars), they may be serious collectors open to negotiation. You can also see if they have sufficient funds—avoiding failed transactions due to insufficient balance.
Additionally, use Etherscan’s Watchlist feature to track specific wallets. Get email alerts whenever a monitored address makes a move—perfect for following whales or project team movements.
Frequently Asked Questions (FAQ)
Q: Is Etherscan safe to use?
A: Yes. Etherscan is a read-only explorer. It doesn’t store private keys or interact with your funds directly. Always double-check URLs to avoid phishing sites.
Q: Can I interact with smart contracts on Etherscan?
A: Yes. If a contract is verified, you can call functions directly via the “Write Contract” tab—but only connect trusted wallets like MetaMask after verifying the contract’s authenticity.
Q: Does Etherscan support other blockchains?
A: No. Etherscan is Ethereum-specific. Other chains have their own explorers (e.g., BscScan for BNB Chain). However, OKX Wallet supports multi-chain tracking across networks.
Q: How accurate is the Gas Tracker?
A: Very accurate. It pulls live data from pending transactions and miner preferences, making it one of the most reliable sources for gas estimation.
Q: Can I track ERC-20 tokens with Etherscan?
A: Absolutely. Enter any token contract address to view holders, transfer history, and token metadata.
Q: Is there a mobile app for Etherscan?
A: While there’s no official app, the site is mobile-friendly. For enhanced security and convenience, consider using OKX Wallet’s built-in explorer features.
Final Thoughts
Etherscan is more than just a lookup tool—it’s your window into the Ethereum universe. From minimizing gas costs with the Gas Tracker to analyzing market trends via the NFT Tracker, mastering these features gives you a strategic edge in the world of decentralized finance and digital collectibles.
Whether you're new to crypto or a seasoned participant, leveraging blockchain transparency ensures safer, smarter decisions.
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