The blockchain exploration and data analysis platform for the decentralized smart contracts network Avalanche C-Chain, Snowtrace, surprised its community with the announcement of its deactivation. The chosen closure date is November 30, 2023.
The news of Snowtrace’s deactivation quickly resonated within the Avalanche community, sparking concern and speculations about the potential implications for the future.
Users of Snowtrace are being urged to take action before the mentioned date: downloading their private name tags and verifying contracts, which has led to increased uncertainty about the future of this blockchain analysis platform.
#PeckShieldAlert #AVAX @SnowTraceHQ
“Snowtrace will be discontinued from 30th November UTC 00:00. Please download your private name tags and contract verification prior to the deactivation date.” pic.twitter.com/DyPQ6WxQIv— PeckShieldAlert (@PeckShieldAlert) October 30, 2023
Analyst Colin Wu shared details about this news on his X account. Wu commented that the team behind Avalanche C-Chain could halt payments, which further fueled doubts within the community.
The Avalanche browser Snowtrace website will be deactivated from November 30, and users need to download private name tags and contract verification before the deactivation date. Snowtrace is an Avalanche C-Chain block explorer developed and operated by the Etherscan team. There…
— Wu Blockchain (@WuBlockchain) October 30, 2023
Avalanche Grows Strong in Uncertainty
However, some of the uncertainties surrounding the deactivation of Snowtrace were clarified when Phillip Liu Jr, founding member of Avalanche Labs, responded to the speculations.
Liu commented that this decision is related to a potential new development within the Avalanche ecosystem. In his words, “Moving on to something better.”
The news of Snowtrace’s deactivation left the community with more questions than answers. While the reason behind this decision remains a mystery, at least the Avalanche community received a minimal response from one of its founders.
On the flip side, the value of AVAX increased by over 2% in the last 24 hours, reaching $11.58. The token also gained more than 9% over the past week, demonstrating steady growth amidst the uncertainties.
The unexpected discontinuation of Snowtrace underscores the importance of transparency and communication, and how any changes in a platform can have a significant impact on the broader blockchain ecosystem.
Users will need to stay tuned for updates from the Avalanche development team to gain insight into the sudden halt of operations and what the platform has in store for the future.
