In order to track blockchain transactions and assess the state of the network, special blockchain services were developed, which a few years later were called browsers. They have a general purpose and principle of action.
Sometimes it happens that for some reason the payment does not arrive at the client’s account. This leads to the beginning of endless contentious issues, and in other situations it is necessary for a third party to intervene.
Blockchains solve this problem by integrating the concept of maximum transparency. According to these parameters, information in the blockchain system becomes publicly available on the network regardless of the time and day of study. In the block chains for bitcoin and Ethereum, data has always been open even at the moment of creating the basis and architecture of the system itself. This is as useful as possible for identifying and verifying cryptocurrency transactions.
A blockchain browser is a special kind of Internet platform, a technology that uses API and data from nodes of a certain blockchain to work. All this is necessary to process information about the entire chain in the network. In the future, the data will be converted into a comfortable format for users.
Similar services can be compared to a search engine in some ways. At the same time, each page exists on its own in the network, and in order to access one of them, it is necessary to enter addresses in the search bar separately each time. As in the case of search services, you can track a Bitcoin or other cryptocurrency transaction by entering a specific query. The search interface is as convenient as possible and with its help customers can find any transactions, blocks, smart contracts and much more.
For a short period of time, new blockchain blocks are constantly being formed on the network. They contain all the necessary data on new types of transfers of digital arrays and cryptocurrencies to wallets. The hash from the headers of the subsequent elements of the blockchain chain always contains the hash of the previous position. In fact, a continuous connection is created, which guarantees that all information will be recorded and no changes will occur in it. This protects the data from deletion or tampering.
The blockchain itself is completely open to all users of the network. The download can be implemented across all nodes of the chain in the system. They have constant automatic synchronization with each other. Due to this, the system performs reconciliation of all network values. Thanks to such processes, you can be sure that all participants transmit the same history of operations. If an attempt is detected to transmit deliberately false indicators on the network, they will not be accepted until the data becomes true. The use of this technique became the basis for reaching consensus.
However, there is one point that leads to the vulnerability of the blockchain – this is the threat of a 51% attack on Proof-of-Work or PoW algorithms. Also, attacks in the amount of 66% are carried out on Proof-of-Stake or PoS. If a third party has equipment of greater capacity than the owner of the resource, and also has a serious reserve of digital resources, then he has every chance to successfully hack the blockchain platform. The frequent increase in the value of cryptocurrencies and the rise of the hashrate increase the decentralization parameter and prevent such fraudulent actions from being realized.
Also, as an acquaintance with the blockchain browser, you can consider its positive aspects and comfort from use. First of all, we can highlight the fact that the service has a Russian-language design, which makes it as easy as possible to obtain the necessary data in an accessible form. All values in the system are presented in a convenient design in the form of a table. They are placed on the page so that the client can immediately read and analyze all the indicators in the required volume. He immediately sees the whole picture, so conclusions are made as quickly and efficiently as possible.
The blockchain browser is necessary for traders, miners or investors to get the most efficient work on the network. They use it to track Bitcoin and for a number of other reasons. These include the following points.
The program makes it possible to check the balance of cryptocurrencies and control the expenses of different wallets at addresses related to smart contracts. For example, in the case when investors participate in the purchase of tokens during the implementation of a new project.
In addition to the investments themselves, with the help of the blockchain browser, there is an opportunity to exercise control over all costs and purchases of cryptocurrencies from large wallets in the system. This allows you to observe large and well-known investors and traders, as well as analyze all investments of cryptocurrencies in their direction.
Conducting a compatibility check of a cryptocurrency wallet before the money is transferred to its address.
Tracking the movement of cryptocurrency transactions – Ether or other cryptocurrencies. Since blockchain search programs carry out their work with public chains in the system, the sender and recipient can, at will, control the transaction processing process using the digital asset network.
In some cases, information from the blockchain browser will help you understand why a transaction takes a very long time in the system or it does not complete at all. Common factors include low commission, inaccuracy in the invoice or address, failure in the payment system, and so on.
With the help of the program, you can calculate the average rate of commission deductions for conducting an accelerated process of implementing your own transfer to the blockchain blockchain.
The blockchain browser is considered the most useful of all tools for the developer of applications with a decentralized structure that use smart contracts, as they provide assistance in monitoring and accuracy of the execution of project functions.
All these positions allow you to understand the scope of application in the blockchain browser system. Its purpose and functionality differ in that this product helps to increase the efficiency of all transactions.
Additionally, using the blockchain browser, you can view the last generated block and its sequence number. Users are offered detailed information about the date and time of its release, the size of the last element and the volume of cryptocurrency transactions that it contains. You can also view how high the complexity of the network blocks have and the average time to search for them during mining. Clients are shown a graph with the number of operations with coins that are waiting for confirmation actions from users in the mempool. The most important and interesting indicator in the system for many participants is the cryptocurrency exchange rate against the US dollar. This value is constantly changing and being monitored. Other variables include the total capitalization value and the volume of trading operations with one cryptocurrency asset.
Bitcoin transactions can be viewed using the blockchain browser, since it is a search engine. It is suitable for searching for information of almost any kind that relates to the state of the selected blockchain in the system, a wallet for digital assets, transfers and much more. Before the explanation of the principle of operation of the browser itself begins, it is possible to explain the importance of three areas in programming that help to carry out full-fledged work.
The presence of a relational database on the network will help to store information in tabular form, taking into account the fact that all parts of the data are tightly interconnected. Replacing one large table with a detailed description of all the blocks in the system for each element, records can be structured, for example, by the type of block and its properties.
Query language for structuring. In fact, it is a programming language used to search for data in a database or to provide a query.
Software interface. It is a set of various techniques that help one computer program to work efficiently with another.
When an operation has become part of a blockchain block, some actions occur. The Bitcoin browser sees these parameters in its own way.
Information from the chain is extracted and formed in a relational database using the API, taking into account a number of criteria: the numbers of the translation elements, their details, and much more.
From the information base, data is extracted immediately to the server of the cryptocurrency search engine according to the client’s key request.
With the help of an electronic page in the browser, the blockchain browser immediately interacts with the client in an accessible and comfortable way for him.
Using the browser API, you can output data from the client’s search query to the page after it works with the server.
Before such search engines appeared on the blockchain in their final version, it was possible to view what was happening in the block chain only using the command line. This is due to some discomfort in work, and the search process is not very clear to most ordinary customers. That is why the demand for a simple and understandable browser almost immediately increased on the part of such giants as the bitcoin portal and subsequently Ethereum. They were created back in 2010.
Tracking transactions of Bitcoin, Ether and other cryptocurrencies
Your transaction can be tracked using any browser on the network that supports working with the selected cryptocurrency. To view the Bitcoin blockchain, you need to enter the wallet address or block data in the chain into a special search box for the transfer ID. This type of transaction is also called “hash” or TXID.
Approximately the bitcoin chain will have the following block form. The first block in the system displays general information about the wallet.
The first item will show the commission charged for the transfer.