imToken presents the new feature "Decoded Transactions"



Decoded transactions refer to decoding on-chain trades and transactions for easier understanding.  

imToken has been committed to making 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 they are making hard efforts to make those basics more understandable for their users. 

Selected trades and transactions are now shown in their detailed explanation: Moving tokens via cBridge shows the transacted tokens, and trading on Uniswap shows buys and sells.

They 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, imToken hopes 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 them. 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 they 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.

imToken is looking forward to working with more teams to build projects of high quality, to make the wallet app more secure and easy to use.

Previous Post Next Post