Etherscan io is an independent Ethereum-based block explorer. The Etherscan app keeps track of blockchain transactions on the Ethereum network. This article aims to show you what is Etherscan and how does Etherscan work.
What is Etherscan?
Etherscan is a block explorer and analytics platform that allows you to access details on any Ethereum blockchain transactions that are pending or confirmed.
Etherscan is the most trusted tool for navigating through all the public data on the Ethereum blockchain and is sometimes called “Ethplorer.” This data includes transaction data, wallet addresses, smart contracts and much more. The application is self-contained and is neither sponsored nor administered by the Ethereum Foundation, which is a non-profit organization.
What is Etherscan used for?
Etherscan allows users to view the assets held on any public Ethereum wallet address. Using Etherscan, enter any Ethereum address into the search box to see the current balance and transaction history of the wallet under consideration. Etherscan will also display any gas fees and smart contracts involving that address.
Etherscan can also keep track of the progress of an incoming transfer. One way to track a transaction using Etherscan is to look it up on Etherscan.io using its hash key. The hash provides users with an estimate of how long the transaction will take to confirm. The page refreshes once the transaction is complete.
Etherscan also works as an analytics platform. Anyone can use Etherscan to analyze on-chain metrics like changes to Ether gas costs, as well as keep track of their portfolio and monitor their transaction history for suspicious activity.
How does Etherscan work?
To use Etherscan, simply enter any public Ethereum wallet address into the search field at the top of the Etherscan.io homepage. Doing so will allow users to view all the transactions associated with that address.
Type the wallet address on Etherscan’s homepage and click “Search” to be redirected to a page that displays all of that wallet’s information. The data will include its ETH balance and its value denominated in United States dollar, as well as an overview of the wallet’s transaction history. Click on the wallet’s Transactions tab, which will open up a new page displaying details on all the transactions involving that address. Details include the transaction ID, block height and when the transaction was confirmed.
To explore and track a single transaction, users will need the transaction hash or transaction ID, or TxHash. A TxHash is a unique string of numbers that identifies a transaction on the blockchain. When users input the TxHash into the Etherscan search bar, a list of information on that transaction will be populated on the page. From here, users can go to the Transactions tab to review additional information about the said transaction. Such data includes whether the transaction status was successful, pending or failed, as well as the total amount that was transferred.
The value of the transaction in ETH, as well as the USD value of ETH at the time of the transaction, can also be viewed. Etherscan also displays the timestamp for each transaction in addition to the transaction cost, denominated in USD.
Final thoughts
In a word, Etherscan is free and doesn’t require a user to register to access all of its features. Also, Etherscan is one of the leading tools for accessing reliable Ethereum blockchain data. Etherscan can review smart contract codes, track gas prices and monitor the Ethereum blockchain in real-time.
How does etherscan work and what is etherscan? Now you know the answer.
