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What is a Blockchain Explorer?
Shailee Adinolfi
&
Annie Pei
General Wallet Use
Blockchain explorers are powerful tools for any crypto user. If you’ve ever wondered how to track crypto transactions, check wallet balances, or research the details of blockchain activity, blockchain explorers are for you.
What is a Blockchain Explorer?
A blockchain explorer is a tool that provides transparency into blockchain activity. Blockchain explorers work much like a search engine, allowing users to track transactions, monitor wallet balances, and explore the details of blocks.
With blockchain explorers, crypto users can access on-chain data (such as Bitcoin transaction histories, mempool status, and wallet information) through an easy-to-use interface. Popular explorers like Etherscan and Blockchain.com simplify complex blockchain data for everyday users.
How to Read a Blockchain Explorer
Knowing how to read a blockchain explorer will help you to better understand and manage your crypto activities. Here’s a brief guide to familiarize yourself with blockchain explorers and their use.
Search bar
Enter a transaction ID (TXID), wallet address, or block number in the search bar and retrieve relevant blockchain data, much like a familiar search query with Google.
Wallet overview
When you search for a wallet address, the explorer shows its balance, transaction history, and recent activity.
Transaction history
View transactions linked to a wallet, including dates, amounts, fees, and associated addresses. Clicking on a transaction reveals further details.
Transaction details
Inspect unique transaction data such as the TXID, timestamp, status (pending or confirmed), and inputs and outputs.
Block details
Explore block-specific data like block height, timestamp, miner information, and transactions included in that block.
Tracking a transaction
Use the search bar to check the confirmation status of a transaction, including pending ones waiting in the mempool.
Why Are Blockchain Explorers Helpful?
Blockchain explorers are essential tools for navigating and understanding blockchain networks. They allow users to track transactions, check wallet balances, analyze mined blocks, and monitor pending transactions, all while offering insights into network activity through real-time analytics.
What blockchain explorers show
Blockchain explorers provide a detailed view of public blockchain activity, offering critical information like:
Transaction history: A complete log of all transactions associated with a wallet, including amounts, fees, and timestamps.
Wallet activity: Real-time data on wallet balances, recent activity, and transaction records.
Block data: Insights into specific blocks, such as their height, mining timestamp, miner details, and the transactions they include.
Pending transactions: Information from the mempool, helping users assess network congestion and estimate transaction confirmation times.
By aggregating and presenting this data in an easy-to-navigate format, blockchain explorers make it simple to follow the flow of funds and verify transaction details.
Additional tools and features
In addition to basic transaction tracking, many blockchain explorers offer advanced features for deeper analysis:
Whale tracking: Identify and monitor large crypto transactions to anticipate potential market movements.
Custom alerts: Set up notifications for specific wallets or transactions, informing you about key activity in real time.
Address tagging: Discover known wallet owners (such as exchanges or institutional addresses) to better understand transaction origins.
Visual analytics: Access tools like charts and heatmaps to explore trends in transaction volumes, hash rates, and network usage.
These features make blockchain explorers invaluable for traders, researchers, and anyone seeking a more sophisticated understanding of blockchain networks.
What Are Some Popular Blockchain Explorers?
Some of the most widely used blockchain explorers include:
Blockchain.com Explorer: Ideal for Bitcoin and Ethereum transactions.
Blockchair: Multi-blockchain support with privacy-focused analytics.
BTC.com: Designed for Bitcoin and Bitcoin Cash transactions.
Etherscan: The go-to tool for Ethereum users to explore smart contracts and track transactions.
Solscan: The top choice for Solana blockchain activity.
Each explorer caters to specific blockchains, so choose one that matches your crypto needs. Always do your own research before investing in crypto.
How to Use a Blockchain Explorer
Some fundamental ways you can make the most of a blockchain explorer include:
Check transactions: Enter the transaction ID into the search bar to track status and confirmations.
Monitor wallet balances: Search wallet addresses to see current balances and activity.
Analyze mempool data: View pending transactions and estimate network confirmation times.
Explore blocks: Use block numbers to inspect transaction data, miner activity, and timestamps.
Create alerts: Opt for transaction or wallet activity notifications where available.
Using these features helps you stay informed about your crypto activity and network trends.