Block Explorer - Crypto Academy S5 - Homework Post for task 4 [By @stan015]
Hello Everyone!👋 In this article, I shall discuss deeply about Block Explorer. This is in regards to the Crypto Academy S5 Homework Task 4, lectured by professor @yousafharoonkhan. The focus of this article is mainly on Block Exploer with respect to the homework 4 question as stated below, however I shall explain more to every questions with screenshots and guidelines to enable you (my dear reader) understand clealy my explanations and guides.
Homework Question No. 3 (Task 4):
What is a block explorer? And what is its purpose and use? Search for different cryptocurrency block explorers and list them below. At least five different crypyo currencies. Also explore the transaction of a crypto coin on block explorer and explain with the help of screenshot.
Block Explorer, just as the name sounds, is a website or an application whose purpose is to explore the data/information of cryptocurrency transactions using their hash(address) or block name. It is used to check the historical price of the coin, the most recent mined block, mempool size of unconfirmed transactions, and the data of the most recent transaction.
The block Explorer is a very useful tool in the cryptocurrency world as it helps to keep details of a transaction for retrieval. Block Explorer holds the data of a transaction for forever. It was by the help of Block Explorer that anyone in the cryptocurrency world today could search and see the data/details of the first ever mined bitcoin block (block 0).
a screenshot of a bitcoin explorer (blockchain.info) as an example
The block explorer has been a wonderful tool that is easy to use. One can simply copy the address/hash of the transaction or the block in question, and then paste it on the search box of the explorer. This will display the informations of the transaction. For example, the below screenshot is the details of the first ever mined bitcoin block, the block 0:
my screenshot
Most block explorer websites, if not all, have other features related to the coin in question. Features like the price chart of the coin, the volume in circulation, etc. The likes of Blockchain.info have wallet, exchange and so on. This is a good feature that would help keep the person exploring about the coin updated with the latest chart and data of the coin.
a screenshot of SteemScan showing features like chart, volume and current price of steem
Generally, block explorers helps us to know the following about a block or a transaction:
The history of a block or a transaction: when a block or a transaction is explored, the block explorers gives the history of that transaction, stating the date and time, the confirmations, and a summary about the transaction. An example is seen in the screenshot of the bitcoin 0 block below:
my screenshotThe details/data of a block or a transaction: A block explorer lists the data of the transaction in question. This data includes the miner's name, the the amount of coin sent, block reward, fee, etc.
my screenshot
Block Explorer like SteemScan will display the details of the user involed in a transaction and the details of the transaction as shown in the screenshot below;
my screenshotThe coinbase transaction of a coin: Block Explorer can be used to view the coinbase transaction of a coin (eg. bitcoin). The coinbase transaction of a coin contains the Input and Output of the coin, it contains data like the sigscrypt( i.e a secret message written in HEX) and the status of the coin(spent or unspent). The screenshot below shows the coinbase transaction of bitcoin block 0 which contains Satoshi Secret Message:
my screenshot
In summary, we can say that block explorer is used to check the history, data and status of a block or a transaction.
| Cryptocurrency | Block Explorer |
|---|---|
| Steem | STEEM Block Explorer |
| SteemScan | |
| Steemd | |
| CryptoGround | |
| Steemyy | |
| Bitcoin | Blockchain |
| Blockstream | |
| BTC.com | |
| BlockCypher | |
| BlockExplorer | |
| BlockChair | |
| Tron | TronScan.org |
| TokenView | |
| TronScan.io | |
| TronWalletExplorer | |
| Ethereum | EtherScan.io |
| Blockchain | |
| Hive | Hiveblockexplorer |
| Hiveblocks |
One of the goodness of block explorers is their ease of use. It is easy to explore the transaction of a coin as it requires copying the block name, transaction hash, or the address of the transaction in question and pasting it on the search box of the block explorer, and then search.
my screenshot
In the above screenshot, I explored my account transactions on Steem Block Explorer by simply typing in my username without "@". The display is the overal transactions on my account so far. To explore further on a transaction, I can simply copy the hash/address (eg. 345968de271819d86ae7c5a3b248510a929ced41) and paste on SteemScan search box. The transaction address used as example shows that stan015 is the sender, see screenshot below:
my screenshot
We can in the same way explore the first bitcoin block on Blockchain.com by simply typing the name of the block, which is block 0, on the search box on the webpage and then search. see screenshots:
my screenshot
my screenshot
The procedures above applies to all transactions on different block explorers. Simply paste the block number, transaction hash/address, or account name to be explored on the search box of the explorer and then search.
Understanding the usefulness of block explorer is an important aspect in the crypto world. Professor @yousafharoonkhan's lecture post explained so well about blockchain, decentralization and block explorer, and I am happy to have learnt new knowledge from it. A crypto enthusiast who have a good knowledge about block explorer would definitely be happy that he/she can check the history of a transaction or block, this helps to note records of the data of the transaction and thus keep the person updated with the status of his/her transaction. It is indeed an important aspect to know in the crypto world.
Thank You for reading through to this part of my homework post, I hope you finds it useful.
I am in full support of #club5050, and I have powered up recent earnings from last week. The below sreenshots shows the current status of my #club5050:
my screenshot
my screenshot
https://steemit.com/hive-172186/@stan015/my-introductory-post-to-this-great-community
Thank You for reading, I wish you goodnews and happiness throughout this year.