What is Blockchain Explorer? Popular Blockchain Explorer platforms

If you are learning about Blockchain, you have probably heard the phrase Blockchain Explorer. This is a tool to help users look up transaction information and data on Blockchain. Blockchain Explorer can be considered as an important component to help Blockchain ensure its transparency and clarity. In this article, let's explore what is Blockchain Explorer as well as the outstanding advantages of Blockchain Explorer with Market247.io.

What is Blockchain Explorer?

What is blockchain explorer

First, we will find out what is Blockchain Explorer. Blockchain Explorer is understood as an online tool that helps users look up all the activities and data that appear on the blockchain. Users can use Blockchain Explorer to look up transaction information, wallet balance, hashrate, etc. on the blockchain.

Specifically, Blockchain Explorer takes raw data from nodes on a blockchain and organizes them into data that can be easily read by users. This data is exposed to the user through the API.

Currently on the market there are many Blockchain Explorers. Each blockchain will have its own Explorer. The most popular names are known as Ethereum's Etherscan, BSC's BscScan, Polygon's Polyscan...

In the decentralized world of blockchain and cryptocurrencies, Blockchain Explorer plays a very important role because it helps to maintain transparency and decentralization, providing users with visibility into all data. transaction. This is the difference between cryptocurrencies and traditional currencies.

What are use cases of Blockchain Explorer?

As mentioned above, the biggest role of Blockchain Explorer is to retrieve information related to transaction data stored on the Blockchain. The 3 most popular use cases of Blockchain Explorer today include:

Look up information of Blockchain and the market

When accessing the Blockchain Explorer website, users can find the most comprehensive information about the blockchain and related market data about that blockchain such as:

The price of the native token used
Market Cap
More stats…

Besides, there are a number of Blockchain Explorers that provide users with more in-depth information about the market such as Market Data, Network Data, ...

Access chain information and recent transactions

What is Blockchain Explorer tool

Most of the Blockchain Explorer homepage now provides users with detailed information regarding the most recent blocks and transactions that took place on the system. Users have the ability to access each block separately to see the orders traded there, or they can directly view the contents of the most recent trade orders.

In case users want to see detailed information about specific blocks and transactions, they can click on that block and transaction. Blockchain Explorer will provide users with the deeper information they are looking for.

Check transactions on Blockchain, block, wallet address

Users can look up related information on the Blockchain Explorer search taskbar, including:

Block: Height of the block
Transaction: Transaction Hash/ID
Wallet: Address of the case

One common use that users can try is to check the status of any transaction on the system. This is done by copying and pasting the transaction ID into the search bar.

Advantages of Blockchain Explorer

Blockchain Explorer

After understanding what is Blockchain Explorer deeply, let's learn about the advantages of Blockchain Explorer. It can be seen that Blockchain Explorer is an indispensable part of making transactions on Blockchain always transparent and clear. Some outstanding advantages of Blockchain Explorer can be mentioned as:

Users can search for complete information of a blockchain or market data of a blockchain or coin through Blockchain Explorer.
Check the transaction history of all the wallet addresses you want, from which the user can check the transparency as well as consider whether the transactions have been successfully executed or not.
Capture current transaction costs, thereby helping users to optimize transaction fees reasonably
Provide information about the latest transactions
Users can use this platform to track the activities of major investors through the Blockchain address
Before sending money to others, users can use Blockchain Explorer to check if the wallet address is valid with the recipient's blockchain, thereby reducing the risk of the wrong wallet address.

Who are Blockchain Explorer's target users?

There are 3 main objects using Blockchain Explorer including:

Trader: Retail traders who use the Blockchain Explorer tool often have the main purpose of checking the status of their transactions.
Miner: Miners often use this tool to confirm the operation of the block as well as check whether their block creation has been successful or failed, from which they can receive rewards or not.
Cryptocurrency User: This object uses Blockchain Explorer to track the variable activities taking place in the cryptocurrency market. Blockchain Explorer also uses Blockchain Explorer to look up information related to supply, market capitalization and other information related to the crypto market.

3 popular Blockchain Explorers

After understanding about what is Blockchain Explorer clearly, we will find out 3 popular explorers now. Blockchain Explorer is currently being developed and is very much present in the market. It can be seen that each public Blockchain has one or more explorers of its own. Here are the 3 most popular Blockchain Explorer tools today:

Etherscan

What is Etherscan

Etherscan is one of the popular Blockchain Explorers used by users on the Ethereum network. When using this tool, users can check a lot of information such as transaction fees, DEX activity, etc. One of the biggest purposes of users when using Etherscan is to check the balance in their account. any wallet address they want to see.

BscScan

What is BscScan

BscScan is an Explorer exclusively for users of the Binance Smart Chain network. Similar to Etherscan, BscScan allows users to explore and search for information on the Binance blockchain such as wallet addresses, transactions, transaction fee tracking, etc.

CoinMarketCap Blockchain Explorer

CoinMarketCap Blockchain Explorer allows users to look up information about transaction data on many different blockchains such as Bitcoin, Ethereum, Litecoin, Binance Coin, etc.

Conclusion

Above is all information about the Blockchain Explorer tool that Market247.io wants to send to you. We hope that through this article, you have gained more useful knowledge about what is Blockchain Explorer. Don't forget to follow Market247's channels to update the latest news from the market and learn a lot of interesting knowledge. If you have any questions about what is Blockchain Explorer tool, send us a question for a timely response.

Disclaimer: This article only provides information about what is Blockchain Explorer, it is not investment advice at all.

FAQs - What is Blockchain Explorer platform?

Is Blockchain Explorer secure?

The Blockchain Explorer attack side for the Blockchain Explorer application is relatively small. Since it does not involve authentication or authorization, no personal information is leaked.

Can you view transactions on Blockchain Explorer?

Blockchain Explorer is where you can see every wallet address (and its history), along with every transaction and detail that has been recorded on the blockchain network.

About Market247.io

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