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Anatomy of The Blockchain Explorers

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Blockchain browsers are tools that users can use to consult their operations and events in the blockchain. As all the transactions that happen within the network are recorded in the chain of blocks in real time, in a transparent, fast and secure manner, these tools have emerged that put users in contact with the transparency of the protocol, generating trust in the technology.

Currently there are dozens of explorers for various blockchains, among which we can name Blockchain.info, BlockExplorer, BlockTrail, BlockCypher and many more for Bitcoin; EtherScan, EtherChain and others for Ethereum, as well as many others for each existing blockchain. Regardless of the blockchain they explore, almost all show similar data, although they may be different in appearance.

When a transaction is made with digital assets based on blockchain, their data is registered and protected in the chain of blocks, and each of the parties can consult this information without the possibility of modifying it, which guarantees the transparency and rectitude of the process and establishes trust between both parties without sacrificing their identity within the network. However, anyone outside the transaction can access the block explorers and see the information recorded there, but it will not be easy to know which people are involved in each exchange, which gives the character of “pseudo-anonymous” to many blockchains.Some of the data that can be consulted in blockchain browsers are the following:

Date and time of the transaction: You can show both the date and time of sending and receipt of the transaction, and indicate how long it took to confirm. Do not confuse with the creation date of the respective addresses, which could have been created well in advance. This date refers to the time when both directions were linked and exchanged.

Block height: This is the block number created, which is counted from the generation of the genesis block (block 0 or 1 depending on the numbering of the block chain) of the blockchain platform in question. In Bitcoin, for example, a little more than 450,000 transaction blocks have been generated. Generally, explorers also indicate when each block was created.

Transactions: is the total amount of exchange transactions performed that were inserted within a specific block. The transactions are included almost randomly in the blocks: they depend on the speed with which they communicate to the nodes and the commission that they are willing to pay to be confirmed.

Confirmations: the number of validations that a block of transactions has received from the miners. They represent the probability that the transactions included in a block are false: the more confirmations reach a safer block is their information. Because of the architecture of the blockchains, the blocks never cease to be confirmed; Whenever a new block is added to the chain, a confirmation will be added to the last blocks. Genesis blocks have as many confirmations as there are blocks in the chain.Amount of coins: indicates how many cryptocurrencies have been sent in the transactions, how many have been received, how much was paid as a commission to the node, and how many coins each portfolio stores once the transaction has been completed.

Miner: The name of the mining group to which the miner who solved the block in question is indicated. Sometimes the IP address of the node that transmitted a transaction to the rest of the blockchain is reported.

Weight: the memory units (kilobytes) that occupy in total all the transactions inserted in the same block.

In the Blockchains scanners box you can insert to search: the wallet address, the serial number of a transaction or block, the height of a block or even the IP address of the node (some browsers), and from there will show all the information concerned.

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Anatomy of the Blockchain Explorers. (2018, December 17). GradesFixer. Retrieved August 5, 2021, from https://gradesfixer.com/free-essay-examples/anatomy-of-the-blockchain-explorers/
“Anatomy of the Blockchain Explorers.” GradesFixer, 17 Dec. 2018, gradesfixer.com/free-essay-examples/anatomy-of-the-blockchain-explorers/
Anatomy of the Blockchain Explorers. [online]. Available at: <https://gradesfixer.com/free-essay-examples/anatomy-of-the-blockchain-explorers/> [Accessed 5 Aug. 2021].
Anatomy of the Blockchain Explorers [Internet]. GradesFixer. 2018 Dec 17 [cited 2021 Aug 5]. Available from: https://gradesfixer.com/free-essay-examples/anatomy-of-the-blockchain-explorers/
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