Roo's All-In Giveaway, $300,000 in Prizes
1.7 k views

Beginner’s Guide to Cryptocurrency Block Explorers

The Inherent Transparency of Blockchains

Blockchain is an immutable, distributed, decentralized, and secure digital ledger. As this digital information is accessible to anyone on the Internet, it becomes transparent and incorruptible. In a blockchain, once a transaction is validated through a consensus process, it is also committed to all network ledgers. These ledgers are distributed databases that store the information recorded from a transaction. Transparency is inherent in a Blockchain network.

It is easy to misunderstand what transparency means on the blockchain. It does not mean that all information regarding every user is open for all to explore. Instead, transparency insinuates that one can deeply understand the network if one knows how to navigate a blockchain.

To understand the blockchain’s inner workings and to look into its transparency, we have platforms called Block Explorers. They are the windows through which we can peek into any blockchain.

What is Block Explorer?

A block explorer is a tool people use to view all cryptocurrency transactions online. Specifically, a block explorer can view all current and past transactions on the blockchain. An explorer establishes the inherent transparency of the network. With the help of an explorer, one can get information regarding any aspect of the network.

For instance, one can look at the transaction status of any particular transaction, i.e., confirmed or unconfirmed. They can look at the network’s Hash rate, understand the standings of any addresses, or look into the network’s history. One of the advantages (or disadvantages) is that you can look at their entire history if you know who owns a particular address. What is their balance, which they sent transactions to, where have they received it from, and so on?

A block explorer represents a one-stop platform for viewing a particular blockchain and checking data. It provides you with all the necessary information on any specific blockchain.

What Can Be Found in a Block Explorer

Like how you use web browsers to browse through the Internet, block explorers allow one to browse the blockchain. They are search engines explicitly made to search the blocks of a blockchain. Block explorers can also effectively work as a search tool for transaction IDs and wallet addresses. As a result, it has become a highly reliable tool that people dealing with cryptocurrency depend on for information.

How to Navigate a Block Explorer?

All Block explorers in the market usually supply that same information. It is easily perceivable, and once you understand a particular explorer, it’ll be easy to understand the rest of the explorers of any specific cryptocurrency.

Let us look at a simple Bitcoin block, as seen on

  1. From Address – These are the addresses from which the transactions were initiated. Using Block explorer, you can click on any address and look into their particular address.
  2. To Address – These are the addresses to which the transactions are being sent. The lessons also can be further evaluated by looking into their transactional history.
  3. Block Hash – The Block hash is the unique identification number given to a particular block. The current block’s hash will be later linked to the following block to maintain continuity.
  4. Confirmations – The number of confirmations states the number of blocks mined after this particular block. Confirmations are essential because they represent the confidence miners have shown. If a block does not have sufficient confirmations (at least 4), it could mean that no other blocks have been mined on it.
  5. Total Amount – The total amount of Bitcoins being sent on this particular block
  6. Block Summary – Block Summary contains the rest of the information pertained in a block. Block summaries vary from one platform to another. They usually throw extra light on the matters relating to the block.
  • Number of transactions on the block
  • Estimated transaction volume
  • Transaction fees
  • Total coins that were transacted
  • Block reward, weight, size, version
  • Who mined the block
  • When the block was mined
  • Nonce, Merkle Root
  • Hash of the current block
  • Hash of previous block and hash of next block

You can also view the statistics of the entire network with an explorer. For example, explorers such as provide information like the Richest Address, Average Block time, Network Hash Rate, and dozens of other details.

Best Explorers out there

For Bitcoin

For Ethereum and ERC Tokens

Bitcoin live price
price change

Other Important Explorers

Other Engaging Explorers
Stay up to date with our latest articles

More posts

Top 5 Crypto Gaming Tokens to Buy for the Next Bull Run

Crypto gaming is one of the fastest-developing sectors of the blockchain industry. In 2023, it is estimated at $7.89 billion and is forecasted to reach over $300 billion by 2030. Some see it as the next ship to onboard for lucrative long-term investments. And after a closer look at it, we can easily understand why. The strength of the crypto gaming market lies at the crossroads of several technological advances, including blockchain, cryptocurrencies, and the Metaverse. Including new economic models,…

A Guide to the Impact of US Fed’s Interest Rates on Crypto

The US Federal Reserve's interest rate is one of the world's most influential economic indicators. These rates profoundly affect global markets and investments.  But what impact does this have on cryptocurrencies? Today, we’ll explore how Fed interest rate changes affect crypto prices and why traders need to pay attention to them. We will also discuss how quickly these rates are increasing and what this means for cryptocurrency investors.  Observing the connection between US Fed rates and crypto assets allows you…

Unveiling the ERC-4337 Account Abstraction Standard – What You Should Know

The Ethereum blockchain is always changing and adding new features to make it easier to use. One of the latest developments is the introduction of ERC-4337. This account abstraction standard promises to revolutionize how users interact with Ethereum. This guide will tell you about ERC-4337. We'll explain what it is, how it works, and the good and bad things about it. We'll also talk about why you should use this new standard for smart contracts. By the end of this…

How to Evaluate a Roadmap Before Investing in a Crypto Project

Investing in a cryptocurrency project can be a risky business. After all, the crypto market is volatile, and projects can fail due to a lack of planning or poor execution. That's why it's important to understand how to evaluate a crypto project's roadmap before investing your money. By looking at the details of a project's roadmap, you can get an idea of its direction. Moreover, you’ll manage to understand whether or not it has to stay in business.  In this…

How Can Crypto Projects Use Telegram and Discord to Grow

Crypto projects have an excellent opportunity to reach and engage with their audiences using two popular messaging platforms: Telegram and Discord. How can they make the most of these channels? Today, we'll explore the differences between Telegram and Discord and show you a few successful examples on both platforms. Furthermore, we'll provide strategies for growing your crypto community. We will conclude this guide with tips for engaging your audience, combining the strengths of both platforms. Why Telegram and Discord are…

The Role of a Valid Go-To-Market Strategy in a Crypto Project Success

In the rapidly evolving world of cryptocurrency, a good go-to-market strategy is essential for any project to achieve success. Unfortunately, it's not enough to create an innovative product. You must also know how to reach your target market and effectively promote it to gain traction.  With careful planning and execution, you can develop an effective launch plan to maximize your chances of success in crypto. This article will discuss the importance of a go-to-market strategy and common mistakes when developing…

How Can a Team Create Market Traction on Its Crypto Project?

Market traction is a must-have if you want to create real, lasting success with your crypto project. But how do you ensure your team achieves the traction needed to drive meaningful growth?  This guide will explore some strategic methods for building and maintaining momentum in the crypto sector. Never underestimate the power of effective market traction – it could be the key to unlocking your project's potential. Why You Need Market Traction in the Crypto Sector The success of any…

Which Features Should a Successful Crypto Team Possess?

Creating a successful crypto team becomes imperative to succeed in this industry. This is particularly true as more people come together and launch their digital currencies or tokens. The right team and set of skills can make a huge difference in the overall success of your crypto project. This guide will explore features a successful crypto team should possess to ensure long-term success. Is There an Ideal Profile for a Crypto Team? A successful crypto team should be composed of…

What You Need to Know Before Investing in a Crypto Project with Anonymous Team

Investing in a cryptocurrency project can be an exciting way to grow your wealth, but it can also be risky. Investing in a crypto project with an anonymous team adds complexity and risks. The Phenomenon of Anonymous Crypto Teams If you explore the Internet for financial ideas, you've probably already encountered anonymous crypto teams. Some cryptocurrency teams that stay anonymous are growing successful. Some anonymous crypto teams have succeeded, despite traditional investors' reluctance toward them. For example, to this day,…

The Buyback and Burn Practice Explained

In a constantly evolving and growing crypto market, it is difficult for investors to know where to put their money. One popular investment strategy in the crypto space is buying tokens of teams that conduct a buyback and burn program.  This guide will explore what a buyback and burn practice is, how it works, and its benefits and risks. What Is a Crypto Buyback and Burn Practice A crypto buyback and burn practice happens when a company buys back its…