There are a lot of different block explorers out there, which makes sense: there are also a lot of different cryptocurrencies out there. In short, a block explorer is kind of like an encyclopedia for blockchain transactions and addresses – its entire history can be looked up. For transactions, it shows you who sent the transaction, how much has been sent, its destination and the fees that were paid for it. For addresses, this includes every incoming and outgoing transaction that the specific address has ever seen. Once entered, you’ll see all the details. What Is a Block Explorer?īlock explorers allow you to look up the balance of individual addresses that you enter, or transaction details of any Transaction ID that you fill in. This transparency is what makes blockchain technology so interesting. From here, you can check the balance of each address and read the details of each blockchain transaction.
VIEW TRANSACTION HISTORY COINBASE HOW TO
So how can you check the entire history of a blockchain? Block Explorers: How to Read Blockchain Transaction Historyīlock explorers are your entry point into reading all transactions that have ever existed on a blockchain. As the famous saying goes: “ Don’t trust, verify” – with cryptocurrencies, you can verify everything relating to transactions. Also, if your friend “promised he made the transaction already” even though you haven’t received it, you can check the validity of their claim directly on the blockchain itself. If you feel like the service you are using isn’t showing the correct amount of Bitcoins, you can take a look for yourself and see whether it matches.
What does this mean for you? Well, aside from being able to see how much richer others might be than you, it actually serves a very valuable purpose: you can verify each transaction you’ve ever sent or received. Nearly all cryptocurrencies use public blockchains, where every detail of each transaction ever made can be seen. Well, with cryptocurrencies, you don’t need to trust anyone – there are no third parties involved. Remember how you would keep your receipts and check your bank account each month, just to make sure that all transactions on it were correct? Or perhaps you just trusted your bank instead. What this means is that all the transactions ever made for each cryptocurrency are recorded on a single blockchain, holding its entire history. This is, in short, a distributed ledger of all transactions. They make use of a technology called blockchain. Don’t Trust, Verify: Blockchain Transactions Are There for All To SeeĬryptocurrencies like Bitcoin are unique when comparing them to traditional money. Today, we’d like to show how you can start verifying your blockchain transaction history and balances for yourself through a block explorer. However, not everyone might know exactly how this works. Ledger Live allows you to easily access blockchain explorers for each transaction.Ĭryptocurrencies are known to be completely transparent and that all transactions are verifiable. A transaction’s main elements are: the Transaction ID, the sending & receiving address, the associated fees and the transaction’s status. You can use Block Explorers to easily navigate and search your blockchain transaction history.
Blockchains are public ledgers, meaning anyone can see all transactions ever made.
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