People can observe all cryptocurrency transactions online using a block explorer to monitor all recent and old blockchain transactions. In addition, it informs the user of the blockchain’s hash rate. Along with other helpful information, it also offers the growth rate of transactions.
In other words, a block explorer is a blockchain browser that is accessible online and displays information about specific blocks and transactions. In addition, the technology allows us to keep track of addresses’ balances and transaction history.
There are block explorers for both Bitcoin and particular altcoins. All cryptocurrencies besides Bitcoin are known as altcoins. The oldest and most widely used crypto in the world is called Bitcoin.
You cannot utilize a single block explorer to retrieve data about Bitcoin and Ethereum; you would need a Bitcoin block explorer and an Ethereum block explorer, respectively. Each block explorer only has information about a specific blockchain. Block explorers for many blockchains are, however, hosted by some websites.
Block explorers may be helpful for traders, miners, validators, businesses, and hobbyists. For example, if you’re buying or selling cryptocurrency, you can use a block explorer to see how a transaction is progressing. Along with other data, you may find out information about your blockchain address, such as your transaction history, the total worth of the assets housed there, the total amount of cryptocurrency received at the address, and the total amount of cryptocurrency sent from it.
