BLOCKCHAIN, DECENTRALIZATION, BLOCK EXPLORER - STEEMIT CRYPTO ACADEMY SEASON 5 - HOMEWORK POST FOR TASK 04

INTRODUCTION

Good day Everyone,

To every member of SteemitCryptoAcademy Community, I hope this meets you all well. My name is Al-amin and I am here again to present my homework post for Task 04 of the introductory course given by Professor @yousafharoonkhan of SteemitCryptoAcademy Community. In this presentation, I will be discussing Question (3) from Task 4:Blockchain, Decentralization, Block explorer by Professor @yousafharoonkhan.

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QUESTIONS

(3) What is a block explorer? And what are its purpose and use? Search for different cryptocurrency block explorers and list them below. At least five different cryptocurrencies. Also, explore the transaction of a crypto coin on block explorer and explain with the help of a screenshot.

What is a block explorer?

A block explorer is an online tool on the blockchain network that allows a person to search for and find piece of information about public addresses, individual blocks and transactions carried out on that crypto blockchain.

A block explorer is that online tool that enables a user to view all the recorded activities like when crypto is sent in and out of wallet addresses on a blockchain, activity of those blockchain addresses in real-time, current network hash rate as well as transaction growth of that block among other information.

And what are its purpose and use?

The following are the essentials and uses of a block explorer;

Users will find the block explorer necessary in the process of tracking the current state of their crypto assets.
To users waiting for block confirmations of their pending transactions, block explorer enables them to monitor their funds by their Transaction IDs (Transaction ID/Hash are automatically generated set of keys when a transaction is processed).
Block explorer functions as a good source of information where users can find data about a particular token by checking their Smart Contracts.
For miners, block explorer is useful for them in monitoring the movements of their mining pool and to verify significant block activity.
Users can monitor market activities in details of a coin or token such as its price, market cap, chart, and the amount of the coin circulating in supply.

Search for different cryptocurrency block explorers and list them below. At least five different crypto currencies.

In accordance with the instructions of this question, I will be listing the block explorers of these five (5) following cryptocurrencies below;

STEEM
BITCOIN
BINANCE COIN
ETHEREUM
TRON

STEEM:
- steemscan.com
- steemyy.com
- steemblockexplorer.com
BITCOIN:
- blockchain.com
- blockstream.info
- live.blockcypher.com
BINANCE COIN:
- bscscan.com
- binance.mintscan.io
- explorer.bitquery.io
ETHEREUM:
- etherscan.io
- ethplorer.io
- etherchain.org
- blockchain.com
TRON:
- tronscan.org
- trx.tokenview.com
- explorer.tronwallet.me

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

Following the instructions of the question above, I will explain below the steps with screenshots on how to successfully explore the transaction of a crypto coin (Tron) on TRONSCAN.

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Here are the steps to get that done;

Step one: Opening tronscan.org block explorer;

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Step Two: I will input my Tron wallet address (TUi14N69h571u6r5NmBdqrjbNXSfv5MvSL) on the search box and click on it:

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Some significant information you can notice on this page of the tronscan.org block explorer are;
- Total Accounts
- Total Txns
- Contracts
- Current/Max TPs
- TVL
- Total TRX Staked
- Tokens
- Nodes
- Price
- Market Cap
- Blocks
- Transactions
  
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Step Three: On this page, I will find information relating to my Tron Wallet Address (i.e. Name, Tag, Balance, Transactions/Transfers, Bandwidth, Energy, Tron Power, Unwithdrawn Voting Reward);

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Step Four: Then I scroll down to click on Transactions;

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Step Five: Under Transactions, I can visibly see a grouping of my Hash, Block, Age, & From. Now I am going to click on the first transaction from 7days 8hrs ago;

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Step Six: On this page, I can find the Block Details of the transaction I selected from "Step Five";

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RECAP

I feel satisfied that I have learnt so much about Block Explorers and their various kinds relating to different types of crypto. Now I know my way around block explorers for any time I need to confirm or monitor my transactions. I understand Block details for a transaction found in block explorer serves as an online Transaction Receipt. Block explorers do not only show you information about previous activities, it also shows you the information in real-time as the activity happens.

Saying a big thank you to professor @yousafharoonkhan for this wonderful course and SteemitCryptoAcademy community for the opportunity.

cc; @shemul21