A closer Look at Block Explorers

A closer Look at Block Explorers

Block explorers are the points of opening into the world of blockchain technology. These powerful tools act like search engines, allowing you to explore the vast amount of information stored on decentralized networks. In this blog post, you will learn what block explorers are, why they’re essential, and provide details on the Decenomy block explorer.

Thank you for reading this post, don't forget to subscribe!

What is a Block Explorer

Blockchain networks are frequently recognized for their transparency, and block explorers play an important role in ensuring this quality. A block explorer serves as an online tool enabling users to access both historical and real-time data on a blockchain. This information consists of transactions, block details, address balances, and various other pertinent data points.

Every blockchain network operates with its own dedicated block explorer, making it impossible to utilize a single block explorer for accessing information across multiple blockchains. For instance, a Bitcoin explorer exclusively provides access to data within the Bitcoin network. Some providers of Bitcoin and Ethereum block explorers include mempool.space, blockchain.com, etherscan.io, and several others.

Why do you need a Block Explorer

Block explorers offer utility to a diverse array of individuals, including miners, masternode owners, businesses, cryptocurrency traders, and more. Below are several reasons why you might find it necessary to utilize an explorer:

  • Cryptocurrency traders often find block explorers useful for verifying transaction statuses.
  • Utilizing a block explorer allows you to retrieve details regarding your wallet address, such as transaction history, total asset value, received cryptocurrency amounts, and more.
  • Block explorers can furnish details on network fees, hash rates, block difficulty, block height, and other relevant network metrics.
  • A block explorer can offer insights into the miner responsible for mining a specific block.

Decenomy Block Explorer

The Decenomy ecosystem encompasses multiple coins, and to support this diversity, they have developed a platform housing numerous block explorers for various blockchains. Decenomy Explorer, a web-based tool, enables anyone to search and access a wide range of information about a specific blockchain.

The information accessible via a block explorer can differ based on the underlying architecture of the blockchain being examined. For instance, the Decenomy Explorer offers essential and specialized data that might not be accessible through widely used explorers like Bitcoin’s. Below are examples of the data and information available on all block explorers within the Decenomy coin ecosystem:

  • Masternode-related information: Through the dedicated block explorer for any of the Decenomy coins, users can access a range of data, including the total count of active masternodes, Return on Investment (ROI), the current USD value of a masternode, a list of all masternodes on the network, collateral amounts, and more.
  • Node lists: You have the option to access a list of nodes that can be added to your Decenomy Wallet, enhancing its connectivity by establishing additional network connections.
  • Bootstrap: A bootstrap file serves as a pre-built replica of the blockchain, facilitating the swift synchronization of your Decenomy wallet. These files are available for download from the block explorer for any Decenomy coin.
  • Additional information: On the block explorer, users can find various important information such as a detailed project description, specifications of the particular coin, price charts, block height, supply details, market capitalization, hash rate, and more.

Block explorers are like maps for navigating the cryptocurrency world. And guess what? Decenomy’s Block Explorer is super easy to use! It helps you dig into transactions, keep an eye on your assets, download bootstrap files, and many more.