The technology that supports cryptocurrencies is characterized by decentralization, immutability, and transparency which traditional mode of payment doesn’t guarantee.
The chains of blocks where the transactions made with cryptocurrencies are registered are generally public, without this means that the privacy of the users is compromised. Well, although anyone who wishes can track down who sends and receives funds – or other assets – through the blockchains, this does not mean that this person has access to the identity of the network user unless the same user provides the information that permits such access such as the private keys.
The blockchain explorers are tools designed to allow network users to access real-time and secure the information of its operations and other events in the chain.
The blockchain explorers establish direct contact between users and the much-mentioned transparency of the cryptocurrency transfer protocol, which generates confidence in this technology. These explorers work in a specific chain, so we do not find one that can give us information about two or more blockchains simultaneously.
One of the most basic data we have access to is the height or number of the block, which allows us to search for information more easily in the chain; especially if we consider that a blockchain like Bitcoin, at present, has more than 530 thousand blocks.
A blockchain explorer also allows us to see the number of transactions whose information is stored in a given block, the date and time they were made and the weight they have, measured in kilobytes. In addition, we can find information on how many confirmations have received the transactions of a block, which are the validations received by the miners.
To this information is added, both the number of cryptocurrencies that were sent in the block’s transactions and the commissions that those transactions generated. We can even know which mining group or mining pool was responsible for mining each block.
EXPLORING THE ETHEREUM BLOCKCHAIN
The second cryptocurrency with the greatest capitalization of the ecosystem, the ether (ETH), belongs to the blockchain of Ethereum, whose chain of blocks works in a slightly different way than Bitcoin, thanks to the particularities that differentiate both. For this reason, transactions in Ethereum can be tracked through different browsers than those mentioned above.
The blockchain developed by Vitalik Buterin and his team in 2014 and launched in 2015. Ethereum is one of the most used blockchain technology to support new tokens or cryptocurrency. Thanks to the protocols it handles, and decentralized applications (DApps).
One of the most used browsers among ETH users is EtherScan. The platform does more than just show and allows for tracing the cryptocurrency based on the Ethereum blockchain and ether itself, as it has multiple analytical options.
Etherscan allows the ether user to see in detail the blocks that make up the chain and the transactions in real time, as well as graphs of the behavior of the native cryptocurrency of Ethereum in the last 14 days, which are shown first after accessing the website.
When entering in detail about a transaction, the user can know the hash of the transaction, the gas or commission paid to the miners, the height of the block and the confirmations that it carries, together with the status of the transaction and the time it took in being processed
Likewise, the explorer has the option to visualize the location of a specific transaction in the chain and also offers a mining calculator, which allows the ETH miners to have an estimate of consumption and income linked to this activity; a service that encourages enthusiasts to obtain, in a reliable manner, detailed technical information.
Other services available in EtherScan are the verification of smart signatures, explorers for test networks and a whole section of options for developers interested in the APIs (Application Programming Interface, according to its acronym in English) of Ethereum.
It is important to keep in mind that, being Ethereum the chain of blocks in which altcoins have been built the most, the block explorer has the option of exploring token transactions like VeChain, and OmiseGo. These virtual currencies have the same basic information as transactions with ether.
In Etherscan you can explore the transactions of other cryptocurrency based on the Ethereum blockchain.
The explorers of the blockchain chains are fundamental tools for the participants of the ecosystem since they are an essential part of the process of carrying out transactions with cryptocurrencies.