Crypto Academy Season 3 Beginners' course - Task 2: Blockchain, Decentralization, Block explore / @maralop16
Hello community, below I show you my second task. thanks to Prof. @yousafharoonkhan for the class.
(3) 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 is a tool that provides users with the search and extraction of important data from transfers on the blockchain. Generally, the block explorer is in a web application, these can be found by searching for block explore and the cryptocurrency of your preference or in coinmarketcap in the explorer section.
It is a useful search where you can review the balance of a public address and see the details of all the transactions that have been carried out on the blockchain.
The information that block explorer shows us is more than the transactions and data found on the blockchain.
In a few words, we can say that the block explorer is used to review the information contained in the block chain, this information is secure and cannot be modified.
Its purpose is to navigate or search for the information found within the block chain. Each cryptocurrency that is in the blockchain has a block explorer, this means that if we want to investigate a specific one we must do it in its explorer.
When making a transaction by users, it will be registered and protected in the blockchain. These data cannot be modified and will be available to users.
Block explorers have become a platform where blockchain users place their trust, since they can search for information from a block individually, such as block identification, transaction hash, address, these results will show data that can be viewed in summary and detail.
Another use is to search the wallet's previous transactions to verify that transaction.
| Cardano (ADA) | https://explorer.cardano.org/en |
| Stellar (XLM) | https://dashboard.stellar.org/ |
| Dogecoin (DOGE) | https://dogechain.info/chain/Dogecoin |
| XRP (XRP) | https://xrpscan.com/ |
| Filecoin (FIL) | https://filfox.info/en?utm_source=cmc |
Next, I will show you a transaction in the Dogecoin block explorer.
Hash: We see the hash code, unique for this transfer, we can also see the block where the transfer appears, in this case it appears in block number 3785507 and the date / time of it can be seen.
Number of inputs: we can see the number of inputs of transfers to the blockchain, in this case it is 1
Total in: is the total amount of DOGE that were sent, a total of 1,356,537.11327903 DOGES
Total out: Here we can see the total amount of DOGES that reach the recipient, a total of 1,356,536.11327903 DOGES
Size: It is the size of the block, 937 bytes in this case. This size may vary depending on the transfer
Fee: is the commission charged by the network, this commission of 1 DOGE and is subtracted from the amount shown in the Total In. As we can see in Total out, only 1 DOGE is missing to equal the Total In, that remaining DOGE is the commission.
Confirmations: It is the total number of confirmations in the network, this transfer has a total of 7
Status: here we can see if a transfer is confirmed by the network, unlike other blockchains, in the DOGE network transfers are confirmed at a very fast speed.
The block explorer has become something fundamental for users, where they allow them to see clearly and confidently the realization of their queries, be it their own operations or verify the transactions and the proper functioning of the blockchain.