Block Explorer

What is Explorer?

To uphold our commitment to security and transparency, we created Block Explorer, a tool that enables you to independently validate your transactions on the blockchain. Every transaction on our platform—whether it's a deposit, withdrawal, trading fee, realized profit/loss, funding event, or position opening/closing—is cryptographically rolled and posted onchain from the central system which keeps the users privacy intact.

Find out how to use our Explorer in detail here.

Why This Matters to You

• Transparency: You can independently verify every transaction, ensuring that no unauthorized actions were taken with your funds.

• Security: Your transactions are protected by cryptographic proof, meaning they cannot be altered without detection.

• Efficiency: Instead of costly, slow transactions flooding the blockchain, our rollup system ensures low-cost, fast verification.

• Privacy: Transaction verification is done without exposing personal or sensitive information.

How It Works

Rails has on-chain custody and centralized order matching & transaction processing. To ensure integrity between these two systems, we need a reliable way to confirm that transaction data hasn’t been tampered with. To achieve this, we compute a cryptographic hash for each transaction and organize them into a Merkle tree—a specialized data structure that enables secure, efficient, and scalable validation of large data sets. The root hash of this tree is a single, unique value that represents the entire set of transaction hashes. If even one transaction changes, the root hash will also change. We then publish this root hash to the Ink blockchain, providing a public, tamper-evident record of the transaction set’s integrity.

Breaking It Down

1. Bundling Transactions: Rails central system batches individual transactions into a single block.

2. Creating a Unique Summary: The transactions are structured into a Merkle tree, which compresses them into a single summary called the Merkle root. The Merkle root, displayed as the Root Hash, acts as a fingerprint for the block, uniquely identifying all transactions. Along with the root hash is the sum total of all fees and withdrawals included in the block

3. Submitting to the Blockchain: Instead of submitting every transaction separately, only the Merkle root is published on the blockchain. This makes the process more efficient while maintaining anonymity of user data to avoid trade front running. We also submit the latest root hash to our Smart Contract.

4. Verifying the Transactions: To validate a transaction, the “Validate Block” button applies each transaction hash in the block to the Merkle tree algorithm, which then generates the root hash. If this matches the established root hash, you can be confident that no transactions in that block have been altered.

How to Use Block Explorer

You click any link to "View in Explorer" wherever the option is available. As an exmaple, below is how you'd use the explorer for any transaction in your P&L History in the Portfolio tab:

1. Select "view"

1. You'll then be taken to your transaction in Rails Explorer screen:

1. Select the validate hash button to confirm and validate transactions:

1. If you want further confidence at any time, View On Chain to confirm that what’s published to the blockchain matches what’s displayed in Explorer:

1. A URL from inkonchain.com should open in a new tab, displaying the transaction representing this block on the blockchain. Scroll down and click View details.

1. Copy the root hash from block explorer, and CTRL+F to find and confirm the root hash onchain:

Values are displayed in HEX format on the blockchain, but we’ve converted the value to dollars in Explorer. To verify the values match, divide the newFees or newWithdrawals data by 1,000,000 and round to 2 decimal places, then compare to the Explorer summary.