Have you ever wondered how you can follow every single transaction on a blockchain, right as it happens? Blockchain explorers make this possible by providing details of all activities, like transactions and balances, in a clear and organized way. They offer transparency, allowing anyone to verify transactions, track assets, or monitor network performances.
In this article, we’ll explore what a blockchain explorer is and how it works. We’ll focus more on Cardanoscan—a dedicated tool for Cardano users. You’ll also learn how Cardanoscan brings Cardano’s blockchain activity to your fingertips, making data easy to access and understand.
What is a Blockchain Explorer?
A blockchain explorer, also known as a blockchain browser or block explorer, is a software or tool that allows users to search and view data stored on a blockchain. It’s like a search engine for blockchains, similar to how search engines like Google let you search the web for information. Just as you might type in a website or keyword into Google Chrome to find details, a blockchain explorer allows you to input a transaction ID, wallet address, or block number to get specific information on the blockchain.
The difference is that, instead of browsing websites, a blockchain explorer allows you to view the detailed activities happening on a blockchain network.
By allowing users to monitor asset movements, verify transaction statuses, and even verify wallet activity, blockchain explorers are essential tools for anyone looking to stay informed and secure within the crypto space.
How Does a Blockchain Explorer Work?
Think of them as a powerful search engine for blockchain data, getting information directly from the network to reveal what’s happening behind the scenes. By continually scanning and indexing data from the blockchain, blockchain explorers provide real-time updates on recent transactions and blocks.
Using a blockchain explorer, you can view details like a transaction hash (a unique transaction identifier), block height (a block’s position in the chain), and wallet addresses involved in transactions.
A blockchain explorer organises complex blockchain data into a simple, easy-to-read format, making it accessible to both beginners and expert users. Instead of going through complicated, unorganised information, a blockchain explorer sorts everything so it’s easy to understand. This transparency allows anyone to trace the flow of transactions or verify balances.
For example, on Cardanoscan, you can quickly locate the “block height” to see when a block was mined or view a “hash” as a unique transaction ID, offering a transparent and user-friendly window into blockchain activity.
There are various blockchain explorers available, duly named according to the base network they enable data search for. On Cardano, Cardanoscan stands out as the go-to tool.
How to Use a Blockchain Explorer
Blockchain explorers operate uniformly, employing the same search mechanism to acquire pertinent transaction data. This makes it easy for users conversant with one blockchain explorer to easily garner the required information on another.
Below, we provide a general idea of how to use a blockchain explorer.
- Search for Specific Wallet Address Activity
The most ubiquitous feature among blockchain explorers is the search field, which is boldly visible on their home pages. With this search field, users can generate any number of data on a specific crypto wallet address. They can access their current asset holdings, transaction history, and status.
They can also view the transactions sent to that particular wallet address and the outgoings. For instance, to carry this out on Ethereum’s explorer Etherscan, users only need to input the wallet address into the search field and click on the ‘Enter’ or ‘Search’ button (as the case may be) to get the full run-down on the wallet address.
This method proves invaluable for tracking token balances, gas fees and identifying any airdrops received from blockchain projects.
- Search for Blockchain Transactions
Generally, a block is made up of thousands of approved transactions. Blockchain explorers extend their functionality by enabling users to enter a block and examine its transactions and the miners or validators responsible for their verification.
This can be useful for those keen on learning the transactions contained in a block, miners or validators that confirmed the transaction, particular gas or network fees, and other details.
Searching for a specific block resembles the copy-and-paste method for locating wallet addresses. To do this, users must paste the transaction hash into the search field and click the search button. Once completed, the block number, timestamp, amount transferred, input and output address, and the fee will be shown.
Here are some of the top network terms users encounter while browsing with a blockchain explorer:
- Pending: The highlighted transaction is yet to be validated or confirmed.
- Failed: This means the transaction was not successfully posted or validated and has been kicked off the network
- Confirmed: The transaction has been verified by the network’s validators or miners (as the case may be) and given the green signal for inclusion in the blockchain.
- Complete: It has been successfully added to a block on the blockchain and is now irreversible and irretrievable.
Conclusion
Blockchain explorers are gateways into a network’s activities. With these tools, individuals can track and monitor their transactions. Market and blockchain analysts can also use it to evaluate a network’s hash rate, block height, and block difficulty. This allows them to make projections on possible market movements and gauge sentiments.
