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HomeFunding UAE-Based Blockscout has Secured $3 Million in Seed Round Funding

[FUNDING NEWS] UAE-Based Blockscout has Secured $3 Million in Seed Round Funding

The open-source block explorer for Ethereum Virtual Machine (EVM) blockchains Blockscout has raised $3 million in startup funding lead by 1kx.

The money will be used to help new projects seeking “explorer-as-a-service” customization, as well as to improve user experience and it’s product line. By giving developers and end users alike clear and easily available blockchain data services,they seeks to completely rethink the paradigms around block explorers.

Block explorers are useful tools for anyone seeking current and trustworthy blockchain data, however many are not available to chains due to exorbitant prices and limited customization options. With its open-source and widely available tooling, Blockscout aims to revolutionize the function of the block explorer and challenge the status quo.

It offers a fully complete product suite for investigating, verifying, and inspecting transactions, including strong developer tooling and an intuitive gateway for users and apps. It has covered more than 600 networks to date and is still expanding.

“Blockscout will be the default setting for all new and existing EVM chains,” said Igor Barinov, Founder and CEO of Blockscout. “We are on the way to becoming the main platform for verifying all information on blockchains and exploring dApps in a safe way. As one of the few open-source players, we offer unmatched transparency and accessibility that serves everyone in the crypto space, from developers to everyday users.”

Chains can pay Blockscout to run an explorer on their behalf, or they can host their own server using Blockscout’s open-source software. Their support for smart wallet transactions and advanced API support are just two of the things that have drawn L2s to them.

Company is now the standard solution for RaaS providers like Conduit, AltLayer, Gelato, Chainstack, and Astria, who all integrate them to provide their clients with a block explorer right out of the box. It is deeply ingrained in the L2 rollup ecosystem.

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Prominent entities including Arbitrum, Filecoin, OP, Base, and Immutable are also collaborating with Blockscout, and in certain instances, they have been doing so for an extended period.

It has been working closely with Optimism for more than two years. They gave them important information for the Bedrock improvement, and in appreciation of their work, the community awarded them a Retro Grant.

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Additionally, they just disclosed a new interface with Arbitrum One, which simplifies data access for DAOs, NFTs, and dApps across Arbitrum.

About Blockscout

Blockscout is an open-source block explorer for EVM chains. Blockscout uses over 600 networks and offers developers smart contract verification and streamlined APIs for scanning blocks, transactions, accounts, and tokens. Their new DAppscout marketplace in Blockscout allows secure decentralized app discovery, exploration, and interaction.

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