Crypto Academy Season 3 Beginners' Course - Task 2: Homework Post on Blockchain, Decentralization, Block explorer for Prof. @yousafharoonkhan Written by @akcares

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 crypto currencies. Also explore the transaction of a crypto coin on block explorer and explain with the help of screenshot.

Introduction

For obvious reasons, there is always a need to consult some data or find out some relevant details about certain things. This need is not limited to some aspects of our life or activities.

Operations within the blockchain network at many times may have to be checked for one reason or the other. It can be imagined how many queries and doubts would have existed in the minds of many of there were no means of verifying the things that go on in the cryptocurrency world.

As such, the innovation of block explorer is such an amazing thing. This lesson is quite timely and insightful. Great exposition by Prof. @yousafharoonkhan.

What is a Block Explorer?

A block explorer is a digital online tool inform of a software, search engine or an application where information and details about a particular crytopcurrency can be accessed. It is an opening into into the interior parts and aspects of a blockchain.

With a block explorer, one can fish out data about transactions in a blockchain. So, if one needs to get any information regarding any transaction on a blockchain, such a person will have to use a block explorer linked to that blockchain to do so.

Source

Accordingly, all cryptocurrency blockchains have their own block explorers. Some even have more than one explorer per blockchain.
Technically, block explorer is a software with application programming interface (API) and blockchain node used for for drawing different types of data from the blockchain network.

Blockchain explorer is a specially engineered tool for viewing and managing digitized assets such as cryptocurrency coins and tokens as they are being exchanged between individuals. It is recorded that the first blockchain explorer tool was designed for the bitcoin blockchain around November, 2010.

What is its Purpose and Use?

Block explorer is designed to offer individuals the platform to access needed data in a blockchain. It is meant to serve as a by which one can obtain stored information and records pertaining to activities on a blockchain.

So, a block explorer is simply create to grant and enable access to the detailed records of transactions and activities within a blockchain.

Due to the complex programming of blockchain platforms, block explorers were developed to guarantee easy and better access to information on a blockchain as well as present these information in easy-to-read format.

There was also need to resolve difficulties involved in authenticating blockchain transactions which is made much simpler with block explorers.

There are various uses of block explorer. Some of these include:

• It is used to know the value of transactions. That is the amount or number of coins transferred or sent
• It is used in tracing the source and reciever of coins. That is, to identify the addresses of a sender and reciever of coins.
• It gives details about the blocks in a blockchain.
• With a block explorer, the rate of transaction growth and hash rate can be determined.
• It can show that balances of different wallets before and after a transaction.
• Block explorer helps to give the time of a transaction took place.
• An explorer can also be used to detect the amount of traffic experienced in a blockchain.

Block Explorers for Different Cryptocurrencies

Ethereum

• Ethplorer
• Etherscan
• Etherchain

Litecoin

• Blockcypher
• Litecoinexplorer

Bitcoin

• Blockexplorer
• Blockchain

Cardano

• Seiza
• Adastat
• Cardanoscan
• Cardanoexplorer

Tron

• Tronscan
• Trx.tokenview

Doge Coin

• Dogechain
• Blockchair
• Blockcypher

Steem

• Steemscan
• Steemblockexplorer
• Cryptoground

Explore the Transaction of a Crypto Coin on Block Explorer and Explain with the Help of Screenshot

For this question, I will be exploring my Steemit address @akacares. Steem blockchain has three explorers and I will be using one of them for this task.

So, I will first locate the block explorer on a search engine by typing in my search query.

These are the results that were displayed. So, I picked the first result by clicking on it.

The block explorer interface was displayed.

Here, there is a search box where I typed in the account address which I wanted to explore, in this case @akcares. A summary of transactions on the account was displayed.

Information like the lastest transactions, the value of the account in terms of Steem amount, Steem back dollar amount, voting power, Steem power, number of votes, reputation and other details.

Aside from the details of the destination account, the explorer also featured the current prices of Steem coin and Steem backed dollar along with base feed price and internal market values.

I then proceeded to verify the details of this particular transaction using another block explorer.

I first copied the the has code which was: https://steemblockexplorer.com/tx/3656f183fec347f3749ca6453a2be941c0037f51
Then, I visited the explorer which opened up a display as below

Then, in the search box, I pasted the code; 3656f183fec347f3749ca6453a2be941c0037f51
and it took me into the block. The details of the transaction are being displayed.

This was an upvote from steemcurator2 as the sender to @akcares, being the recipient. The amount of the vote, timestamp, transaction number, block ID are all reflected accordingly.

Conclusion

One interesting thing about this decentralized blockchain technology is the great level of transparency it promotes. Here, unrestrained access to information is guaranteed making blockchain to be quite authentic and credible. With the possibility of tracing each and every transaction taking place on a block comes a level of trust and freedom which is missing in the conventional banking systems. Block explorers have added more meaning to the blockchain sectors. Prof. @yousafharoonkhan really did a great job on this lesson. Well done!.