A block explorer allows the user to view transactions recorded on the blockchain. Simple, yes, buts let's take a deeper look.
There is a multitude of different block explorers, some are specific to a blockchain whereas others can be used across various networks. For example, a Bitcoin explorer can only view transactions on Bitcoin however a universal block explorer may be able to view transactions recorded on Bitcoin and various other blockchains.
So, we've established that a block explorer gives users the ability to view blockchain activity but what else can they do? The most common tasks are to find specific transactions or to get a general overview of activity on the chain but they can also be used to monitor pending transactions and user balances.
Block Explorers can also search the following;
- Wallet history
- Orphaned Blocks
- Double Spend Transactions
- Genesis Block
- Largest transaction
- Average transaction fees
- Hash rate
- Mining difficulty
- Change Addresses
Well, that's because it is, a block explorer can basically be used to search for anything a user may wish to find out about a specific blockchain.
There are many different block explorers with different benefits however here are 5 to get you started…
Whether you are just curious about a blockchain and want to have a look around at hash rates, largest transactions, etc., or want to know the specifics of a chain then a block explorer is the tool you need. A search engine for blockchains. Turn over the page to learn about DeFi.