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Etherscan General Overview.

Etherscan Overview

September 22, 2021 | 

720 Views | 

Jesus Guzman | 

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What is Etherscan?

Etherscan is a block explorer for Ethereum Blockchain, sometimes called ethplorer. Understanding it helps you know how to track your transactions and know whether they are completed or pending. A block explorer is a search engine that allows users to look up, confirm and validate transactions.

The search engine is independently run by passionate individuals who make infrastructure applications and decentralized information possible. Essentially, etherscan are ethereum blockchain users. It exists independently and is not funded or managed by the ethereum foundation which is a public entity.

It facilitates blockchain transparency through indexing transactions and making them available in an accessible and transparent way possible.

So, it is not a wallet service provider and doesn't store private keys. It has no control over transactions happening in the ethereum network, and therefore, it can't reverse or redirect transactions to recover lost funds. However, it provides etherscan API, a robust load-balanced service that can serve as data feeds and build decentralized applications for ethereum block information.

How does etherscan work?

It's a tool that allows users to view their transactions data to know if it's still pending or confirmed. Anytime someone interacts with it, the database records the transaction history. Anyone can see the transaction history since it's an open blockchain.

Etherscan is a helpful resource allowing users to navigate the data and make sense of what is happening. Copy your public wallet address and paste it into the search bar and click okay or press enter.

The action submits the data and takes you to a page showing you key metrics for the wallet, like your balance, including the corresponding USD value. Also, it displays your full transaction history.

Knowing how to use ETH is vital as you can look up pending transactions and monitor them. After initiating a transaction in the MetaMask, check the details section for a specific transaction. Meta Mask directly links to the transaction page.

It gives you an estimated time it takes for your transaction to confirm and updates you when it's confirmed. It displays only your public wallet address, and other information remains hidden. It's illegal to access the entire transaction history, but users can interact with the blockchain network activities through the ethplorer.

How to read etherscan (ETH)

ETH allows users to track transaction history on the network. The process is similar to tacking your online shopping packages. All a user needs is to check the wallet and enter the public wallet address into the search box and click submit.

The system automatically scans the public wallet address and displays the wallet balance and other transactions under that address. You can click on the transaction hash to see specific transaction details.

Select read contract to query real-time information concerning the transaction or token. It displays the name of the project and total supply, which indicates the number of tokens you created at the onset of the contract.

Also, it displays the number of decimals in a token.
Users can enter their addresses to know the number of tokens left. Check the allowance to know if other wallets have permission for a given transaction.

Read contract tab can have fewer or more input fields depending on usage and the level of complexity of the smart contract. The terms used are:

TXHash - Also called transaction ID. It's the unique identifier the system generates each time you do a transaction. The transaction ID helps users track their transactions to know if it's confirmed or pending.

  • Block height - It's the block number upon which your transaction is completed.
  • Timestamp - It indicates the time you made the transaction or mined.
  • From/ to - These are the addresses of receiving or sending users.
  • Value - It's the amount sent plus its equivalent US dollar value.
  • Actual transaction fee or cost- It's the value or cost of a product in US dollars.

How to use ETH

It's a useful resource in tracking transactions in all networks. Users can check smart contracts, view statistics and stay on top of their transactions and happenings.

Most importantly, it is free, and users don't need to register to enjoy the main features. It allows users to navigate the file system easily, view transactions, analysis and confirm transactions. All these happen independently and in a much more comprehensive manner.

Users can add a public wallet address to the watch list to get notifications of any incoming transactions by email. Ethplorer uses addresses on the watch list to monitor and provide portfolio tracking.

To transfer or send tokens or ether from your private wallet account, you need a compatible wallet like MetaMask, ethereum wallet, My etherscan Wallet or Parity Wallet.

What is a gas price tracker?

The ETH network uses gas cost, which is paid in ether, to complete transactions. In essence, the gas price is the transaction fee for blockchain transactions.

However, gas prices work differently in this world. For example, it doesn't have an upper limit on gas transaction requirements, and it means that network congestion can easily drive up the gas price quickly.

A higher gas price means a higher transaction fee. Most transactions with lower transaction fees or gas prices easily fail because miners rarely pick them up.

Gas tracker enables users to determine the right time to send their transactions. Remember that lower fees benefit everyone, although it may not be feasible based on the blockchain network activity. Users can adjust gas fees in other wallets using the gas tracker estimates to complete the transactions quickly.

Can users find airdrops with it?

Currently, ether scan supports airdrops. It's a new feature that allows users to claim some airdrop tokens from their campaign, although it doesn't work on all campaigns.

It gives users an overview of currently active airdrop tokens and checks if they are eligible for certain airdrops. Nevertheless, it doesn't include future events.

How does etherscan work as a smart contract tracker?

Ethereum runs on self-executing smart contracts that bear the terms of the agreement between the buyer and seller. The smart contracts are written into lines of codes and only exist in the decentralized network where the code is distributed.

Smart contracts provide clarity on the level of activity. The decentralized applications process and visualize the information before providing an index summary for users to evaluate the growth and health of potential decentralized application projects.

Examine the transaction rule sets in the code to get full access to your contract code. Click on the code tab.

What is the use of the verified contract section?

Ether scan has a verified contract segment that shows all smart contracts on the blockchain bear a source code. However, not all smart contracts are in this category, which makes it easier for users to know if they can interact with a particular contract.

Alternatively, users can look up the contract addressee manually and see if it's verified. The process is the same as checking a wallet address. However, users will only see the compiler version, name and whether it has undergone a security audit.

Security audits are vital for smart contracts, even though there is never a guarantee that the code is 100% safe.

Final Thoughts

Ethereum users can use ethplorer to check smart contracts, track transactions and analysis. Plus, it's free to use and has many useful features that help you remain on top of everything.

Etherscan io is a useful tool for developers, miners and investors. It provides them with crucial information concerning transactions in real-time, and it improves your experience and makes tracking transactions easy.

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