If you are new to Cryptocurrencies, then you might have heard the term “Blockchain Explorer.”
Block Explorers as well as their data may seem a bit confusing at a fraction of time, but once you master this tool, you will know how effective it can be in the cryptocurrency ecosystem.
Blockchain is an ever-growing set of blocks that have a record of transaction data. Blockchain is decentralized, distributed, immutable and a secure digital ledger.
Since this digital information is accessible to anyone over the internet, it becomes incorruptible, and transparent at the same time
Anyone can check the balance of any public address and anyone can look at any transaction detail on the blockchain. If you are wondering “How?”, it’s done by using blockchain explorers.
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What is Blockchain Explorer?
Blockchain explorer is a website that allows you to browse through the blocks, view wallet addresses, transaction data, network hashrate and other key information about the blockchain.
Block Explorer is simply a search tool. Similar to how you use any web browser to browse through the internet, Blockchain Explorers allow you to browse the blockchain.
They are most likely search engines made particularly to search the blocks of a blockchain. Each and every digital currency, which relies on its own blockchain has its own block explorer.
Thus, you must use block explorers specific to that cryptocurrency.
For instance, using Bitcoin Blockchain Explorer, you will not be able to explore the chain of Ethereum or Litecoin.
For Litecoin, you will need Litecoin block explorer, and for Ethereum you will have to use Ethereum explorer.
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Things You Can Do Using A Blockchain Explorer
For the sake of explaining things better, I would be explaining the Bitcoin block explorers.
Never forget that each blockchain interfaces and functions in its own particular way with its respective explorer.
- Blocks Feed – Blockchain explorers allow you to explore recently mined blocks on the Bitcoin Blockchain. Generally, all bitcoin block explorers offer a live feed of all the blocks being added to the blockchain in real time.
- Transaction Feed – Block explorers allow you to discover any transaction in any block mined and attached to the Bitcoin Blockchain.
- Transaction History – Using a Bitcoin blockchain explorer, you can easily check the history of any public Bitcoin Address.
- Receiving Address & Change Address – Using a Bitcoin blockchain explorer, you can see the receiving address and the change address of Bitcoin.
- Largest Transaction – There are a few block explorers that keep the data for the largest Bitcoin transaction done in a day.
- Mempool Status – Through a Bitcoin blockchain explorer, you can easily check the status of bitcoin mempool, where you will see a total number of unconfirmed transactions with their details.
- Orphaned Blocks – Yes, you can even check the number of blocks not attached to the bitcoin blockchain.
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As discussed above, there are several reasons to use a blockchain explorer. Indeed, they are one of the best ways to explore a blockchain.
Having open-source explorer is what makes all cryptocurrencies immutable and transparent. Giving the public access to the blockchain ledger is something that allows decentralization to take place.
That is the true essence of Blockchain Technology.
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