A blockchain security company, BTCS Inc. announced a new suite of tools that demonstrates how transaction verification services work. The toolset includes blockchain network statistics and visualisation as well as transaction verification simulator and calculator.

The company, based in Arlington, Virginia, hopes to increase the public's understanding of verification services under various conditions. BTCS, previously known as Bitcoin Shop, decided to shift the focus of its development efforts from the field of bitcoin currency to the broader field of the blockchain technology. The company is keen to explore the blockchain’s potential, planning to contribute to the digital currency, smart contracts, securities, and record keeping sectors, and hopes to build an ecosystem using its transaction verification services. The new toolset is still in beta version.

“Overall, this toolset provides industry participants and other interested stakeholders another choice to track and monitor transactions and activity on the blockchain, aiming to improve the knowledge base of this growing market that we believe will alter how myriad global industries conduct secure transactions,” said Charles Allen, CEO at BTCS.

The BTCS Tools page visualises blockchain network statistics including the distribution of blocks mined by various pools, latest blocks and latest transactions. The Calculator allows users to find out the amount of bitcoins and the USD equivalent that can be mined per day, week, and month with the given value of operating capacity and difficulty. The Simulator calculates the profit and time needed to return the investment with various input parameters such as bitcoin exchange price fluctuation.

Aliona Chapel