Block Explorer

A block explorer is an online tool that allows users to inspect all the transactions that have taken place on a blockchain. It provides insights into how the blockchain network operates by allowing users to explore the individual blocks, transactions, and addresses.

Key features and uses of a block explorer typically include:

1. Viewing transaction history: A block explorer displays the transaction history of a specific blockchain address. This allows users to see all incoming and outgoing transactions, including the amount of cryptocurrency transferred.
2. Checking block information: A block explorer can show all the transactions contained in a specific block, as well as the block’s hash, size, and time of creation.
3. Observing network activity: A block explorer may also provide statistics about the network as a whole, such as the total number of transactions, the current hash rate, and the number of active addresses.
4. Verifying transactions: Users can verify that a transaction has been processed by searching for its unique ID (also known as a transaction hash) on a block explorer. Once the transaction appears in a block, it has been confirmed by the network.
5. Understanding smart contracts: In the case of blockchains like Ethereum that support smart contracts, a block explorer can provide information about these contracts, such as their code and the transactions they have processed.

Each blockchain has its own separate block explorer. For example, Bitcoin has blockchain.com’s Explorer, Ethereum has Etherscan, and so on. These explorers can only track transactions within their respective networks.