Blockchain explorers are very important for a crypto enthusiast. They offer an ideal interface that allows users to search more about the blockchain they want and get details about blocks, addresses, fees, transactions, etc. Every block explorer will help users find information about a specific blockchain. The information type provided by each block depends on the blockchain architecture it serves.
What Is A Blockchain Explorer?
The most notable feature of blockchain technology is transparency and a major part is played by blockchain explorers. It is an online tool that helps to search historical and real-time data about a particular blockchain. This data includes details regarding addresses, transactions, blocks, etc.
Each blockchain explorer is designed to hold details of a specific blockchain network. Therefore, you cannot find information on Ethereum and Bitcoin using a single explorer. You need separate blockchain explorers for each. But you may find some sites that provide blockchain explorers that can provide data from multiple networks. Some of the most popular blockchain explorers are etherscan.io, CoinMarketCap, blockchain.com, blockstream.info, etc.
Why Is Blockchain Explorer Important?
Blockchain explorers are very important for crypto enthusiasts, businesses, validators, miners, and traders. The trader can check the transaction status when buying or selling cryptocurrencies. It is also easy to get data on a specific blockchain address such as the transaction history, total assets value in a given address, total assets received, the total cryptocurrencies, etc.
Blockchain explorers help miners to confirm whether their mining was successful. Businesses can use these explorers to evaluate transaction information of their projects. Blockchain explorers can also be used to find the activities of any blockchain address of a particular blockchain network.
Another advantage of blockchain explorers is that it helps crypto enthusiasts to get more information about the inside workings of a blockchain including the latest blocks and transactions, transaction volume, transaction fees, block height, hash rate, block difficulty, etc. It can also give details regarding the market data of a cryptocurrency like market capitalization, maximum supply, and circulating supply. One of the important things to note is that the information in a blockchain explorer may vary depending upon the blockchain architecture it was created for.
How To Use A Blockchain Explorer?
The site of a blockchain explorer will have a search bar to help you find the information you need like the block numbers, transaction hashes, wallet address, etc. These details may vary with the blockchain and the explorer. Most of the homepages of explorers will have details regarding the latest blocks and transactions.
You may type the hash or transaction ID on the search bar of the explorer to get details of a transaction. Your wallet software will give you this ID when you execute a transaction. The explorer will let you know the status of your transaction. You may also search for the wallet address you used to send the amount to find the transaction details. However, you have to use only your public key address while searching. Your private keys must not be shared here.