Blockchain Block Explorer briefly explained?
The term Explorer is known to many from their home computer. The Blockchain Block Explorer or Blockchain Explorer is the crypto counterpart to it. However, many are not aware of the special functions of such an explorer. Because it can do much more than just document transactions. A Blockchain Explorer, often also called Block Explorer, is a website or program that allows users to browse the blocks in a Blockchain. It is therefore similar to the folders and files listed in the computer’s Explorer. Almost all common crypto currencies have their own Block Explorer. The user can only use the Block Explorer, which is also intended for the platform. This means, for example, that a Bitcoin Explorer could not display Ethereum transactions. Therefore, an Ethereum Explorer must be used. The first Bitcoin Explorer was launched in November 2010.
What can the Block Explorer do?
The number of transactions and nodes on a blockchain (What is blockchain?) is becoming more and more complex and difficult to understand. A Block Explorer can help to bring light into the darkness. Many users track their recent transaction on such an explorer to see if the payment has arrived. But the Block Explorer has many other features:
- Block Feed: Via the Block Explorer, users can follow live when a new block is attached to the block chain. The Explorer lists these and usually also gives a time and much more information on how: Block height, block hash, contained transactions, block output in tokens, transaction fees and the name of the miner or mining pool.
- Transaction feed: Users can explore and track the transactions of each individual block using Explorer.
- History of a specific address: It is also possible to track the transaction history of a specific wallet address. Provided you know the public address. This makes it easy to check all previous transactions and the current account balance.
- Evaluation in numbers: Many explorers evaluate the transactions and blocks and specify them. For example, the largest transaction of the day can be displayed, or how many blocks are appended in total or on a day and much more.
- Duplicate output and orphaned blocks: Some of the more advanced explorers can show how many double spendings have been made in the last 10 minutes and how many orphaned blocks currently exist.
- Mempool: The so-called Mempool collects the transactions that have not yet been confirmed and grouped into blocks. These can also be displayed in the Explorer. In addition, further information such as transaction rates, fees, data size and, for some providers, the global distribution are usually displayed.
- Genesis block: The Genesis block is the first block of a block chain. This block can also be displayed with the Block Explorer. Information such as date, time and miner are also displayed.
Which explorers are available?
As already mentioned an Explorer can only show transactions of its own blockchain.
Here are sites where you can trade the coins:
Below you will find a list of some of the major explorers:
Litecoin Explorer and other crypto currencies
Who uses Block Explorer and why?
In general everyone can and should use such an Explorer. Beginners and advanced users can get a lot of interesting information about the respective blockchain. Users can track their transactions. For miners, the explorers are also important, as they show them the last broken block and the transactions it contains, fees paid and much more. This information can be used to calculate the possible profit margin and draw many other conclusions. The Explorer is so important because it enables a core property of the open source blockchain technology: transparency! The recording of the blocks and the transactions they contain in the Explorer creates a unique and unchangeable documentation that is accessible to all.