Blockchain technology or commonly known as distributed ledger technology usually works in the form of a peer-to-peer network. The individual nodes or computers are protected by cryptography to carry out transactions supported by different blockchain-specific protocols.
Even though blockchain was developed as a base technology for cryptocurrency platforms such as Ethereum and bitcoin, it has found applications in several industries. The independent and transparent verification process on the blockchain is the primary reason for its widespread use in different industries.
However, the most common aspects of using blockchain include the management of digital assets and the execution of transactions. Blockchain Explorer is one of the prominent examples of specialized tools for viewing and managing digital assets. Let’s discuss blockchain in depth below.
What is Blockchain Explorer
One of the first concerns in any blockchain explorer tutorial directly refers to the definition. It is basically a search engine for a specific blockchain network. In the world of cryptocurrencies, tools such as the Bitcoin Blockchain Explorer allow users to access different information related to transactions on a specific blockchain and wallet address.
These details generally relate to the amount of money involved in the transaction, the status of the different transactions, and the source and destination of the funds. The Block Explorer acts as a search engine that displays information about the past as well as the existing state of the blockchain.
Blockchain explorer helps users easily view all the transactions on the public blockchain. Blockchain explorer also supports users to access almost all data related to blockchain, transactions, and wallets more easily. Interestingly, users can also access hidden information and rich lists in blockchain-related data.
While the basic definition of Blockchain Explorer provides a simpler meaning for the tool, it is important to reflect on the technical aspects of the tool. Answering the question ‘what is Blockchain Explorer’ from a technical perspective presents it as software with an API and blockchain nodes. The software uses blockchain nodes and APIs to extract different types of data from the blockchain network.
The explorer then uses a database to arrange the data searched by the user and present it to the user in an understandable format. For most users, the blockchain explorer can help search and explore data about recently mined blocks or recent transactions on the blockchain. In addition, the explorer allows users to view real-time information about the blocks being mined, as well as data related to the blocks.
Now you’ve been introduced to Blockchain. If you are a mining farmer and interested in immersion cooling, take a look at our immersion cooling products and choose the one that’s right for you!