We are pleased to present you imToken’s new feature, Decoded Transaction Activity.
What are Decoded Transactions？
It refers to decoding on-chain trades and transactions for easier understanding.
Why Do We Need Decoded Transactions?
At imToken, we have been committed to make life easier for blockchain users, which really is not an easy task.
The new technology still offers challenges in basic use cases. What - for example - happens when a blockchain transaction goes wrong? When a transaction fails or is stuck users have to start a journey into the world of block explorers and dig deep to understand what happened.
That’s why we are making hard efforts to make those basics more understandable for our users. Selected trades and transactions are now shown in their detailed explanation: Moving tokens via cBridge shows the transacted tokens, and a trade on Uniswap shows buys and sells.
We are starting with Arbitrum, because Layer 2 is where most user activity is moving to. This way, users can easily decode what is happening on Layer 2.
What Does Decoded Transaction Activity Mean to Project Teams?
Decoded Transaction Activity is a valuable feature for both users and project teams. It allows users to enjoy an improved DApp experience by better understanding the businesses of the team. In this case, outstanding teams can gain market presence more rapidly regardless of fierce competition.
As a long-term blockchain ecosystem builder, we hope to grow with other builders for blockchain to be applied in a wider manner. More high-quality projects will emerge bringing more DApps into the ever-developing and increasingly complicated ecosystem. Therefore, it is increasingly important to find a better way to present on-chain transaction data to users.
Decoded Transaction Activity also serves as a bridge built by imToken between users and project teams. However, this bridge needs to be maintained through concerted efforts from both those teams and us. On top of the foundation for the bridge provided by imToken, information such as the type of contract and transaction should be constantly updated by the teams.
The Next Phase of Decoded Transaction Activity
Currently, Decoded Transaction Activity is only available for the Arbitrum ecosystem, as we hope to gradually update this feature.
In the future, the function will be launched in the Optimism ecosystem first, then in other Layer2 ecosystems and Layer1 public chains, such as Ethereum and Bitcoin. To bring easier understanding to all chains.
Looking for Cooperation
imToken is looking forward to working with more teams building projects of high quality, to make the wallet app more secure and easy-to-use.
Please contact us through [email protected] if you are interested.
You are also welcome to forward this article to your favorite project teams that haven’t partnered with imToken.