Annual subscription fees for Etherscan's EaaS service has reportedly grown to $2 million per year. Snowtrace.io, a popular blockchain explorer tool for Avalanche (AVAX), will shut down its website, powered by Etherscan's Explorer-as-a-Service...
Annual subscription fees for Etherscan's EaaS service has reportedly grown to $2 million per year.
Snowtrace.io, a popular blockchain explorer tool for Avalanche (AVAX), will shut down its website, powered by Etherscan's Explorer-as-a-Service (EaaS) toolkit, on November 30. The Snowtrace team clarified that only its explorer powered by Etherscan will be shut down.
According to the October 30 announcement, Snowtrace users are required to save their backup information, such as private name tags and contact verification details, before the said date. While the team did not explicitly state the reason for shutting down the explorer, some have pointed to Etherscan's service fees for its EaaS toolkit. Mikko Ohtama, co-founder of tradingprotocol, claims that an annual subscription to EaaS can cost between $1-$2 million per year. Ohtama wrote:
"EtherScan is a very good product, but smart contract verification is something that needs to be decentralised. Regulators and other are not going to be kosher with, how do you check this? The source code is hosted by a private company in Malaysia"
Phillip Liu Jr., head of strategy and operations at Ava Labs, also commented that the protocol is "moving onto something better" and is "absolutely not" cease operations. For a fee, Etherscan's EaaS service provides blockchains with a block explorer and application programming interface (API) solution. A block explorer may be discontinued due to non-renewal of an EaaS service agreement, insufficient bandwith, or limited traffic. In such instances, users are recommended to save their data, such as private name tags, transaction notes, contract verification details, etc., prior to shutting down.
The instance of Snowtrace by @etherscan will be discontinued on 30th November (00:00 UTC)— Snowtrace.io (@SnowTraceHQ) October 30, 2023
Thank you @avax and the community for the last 2 years of support and we wish you the best moving forward pic.twitter.com/WdBOzIWOz9
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