Etherscan is a tool used by many investors in the Ethereum Blockchain Explorer. So what are the outstanding features of this tool? How to look up transaction data via Etherscan? The information below will give you an overview of this useful tool. Let’s refer to the article Learn Crypto Trading to understand better!
Learn about Etherscan for beginners.
Before going into the steps of working with the tool Etherscan, you need to understand what Etherscan and blockchain mean.
What is Etherscan?
First, Blockchain is a chain-block technology that allows users to transmit data securely based on a complex encryption system. Each block contains information about the creation time and is linked to the previous block, in addition to including a time code and transaction data. Blockchain technology is applied in many fields, including the cryptocurrency market.
Etherscan is understood as a search and lookup tool for transactions on the Ethereum blockchain network. This tool is also known as Blockchain Explorer. With Etherscan, you can search for information about transaction history, e-wallet address, wallet balance, smart contracts, etc.
This means that activities on the Ethereum blockchain network, such as transaction information, block creation, etc., will be posted on the website Etherscan. Thanks to that, users can look up and update data anytime.
How does Etherscan in Crypto work?
As mentioned above, Etherscan allows investors to search for transactions, wallet addresses, smart contracts, etc. After entering a wallet address into ‘s search bar, you can view detailed information about the transaction that has been associated with the wallet address.
The core functionality of the Etherscan tool is divided into 3 main processes:
- First, Etherscan will receive the query request from the user.
- Retrieve data from blockchain via API, RPC, Web3 library, and DApps. At the same time, maintain carefully organized records.
- Then, display the data for users to grasp.
Etherscan uses a sophisticated method to extract data from Ethereum, leveraging RPC, nodes, and Remote Procedure Call (RPC) endpoints. RPC, especially JSON-RPC, is often used in the Ethereum network, supporting Etherscan to query information via API (also known as application programming interface).
Ethereum blockchain nodes act as decentralized servers. Etherscan interacts with these nodes via RPC endpoints, virtual addresses that receive and process information from Etherscan. Explorer Blockchain uses multiple RPC endpoints to ensure users receive near-real-time data updates. The platform continuously retrieves, organizes, and adds data to the history, allowing Etherscan to respond quickly and accurately to trader queries.
Basic interface of Explorer Blockchain Etherscan
When getting acquainted with the Etherscan homepage interface, you need to note the following main items:
- ETH price and gas fee.
- Website Format: Includes customization of website brightness, transaction information, language, currency, displayed or hidden token balance, transaction time, movement between Ethereum networks,…
- Menu: Displays information about blockchain (View Txns, View Pending Txns, View Contract Internal Txns,…), Tokens (Top Tokens, Token Transfers), NFTs (Top NFTs, Top Mints, Latest Trades,… ), Resources (Charts And Stats, Top Statistics, Leaderboard,…), Developers (API Plans, API Documentation, Verify Contract,…). Some other features also mentioned include Unit Converter, CSV Export, Gas Tracker, DEX Tracker, Node Tracker, Verified Signature,…
- Search bar: This is where users can look up blocks, transaction history, wallet addresses, smart contracts,…
- General data about Ethereum. It could be ETH price, number of transactions, market capitalization, latest block, gas fees, or transaction fluctuation within 14 days.
- Latest blocks (latest blocks) and Latest transactions (latest transactions) on the Explorer Blockchain platform.
See also: Blockchain and applications in financial Crypto
Instructions for performing some basic operations with the Etherscan Blockchain Explorer
If you are new to the blockchain field, you can refer to the information below to understand how to operate the Etherscan tool.
How to look up Crypto trade history with Etherscan
The way to look up Crypto trade history on Etherscan is extremely simple. You just need to follow the 3 steps of Trading Crypto.
Step 1: First, visit the Etherscan homepage. Here, users will see the Search bar toolbar that allows them to search for wallet addresses, ETH transaction codes, tokens, domain names,…
Step 2: Enter the transaction ID (TXID) in the search bar. Then, press Enter to update the data on transaction activity on Ethereum.
Step 3: Look up specific information about transaction history on the Ethereum network. The information you need to understand is the Transaction Hash (transaction code), Status (transaction status), Block (block), Timestamp (execution time), From (sending wallet address), To (wallet address). receive), Transaction Fee (transaction fee) and Gas Price (gas fee).
Look up smart contracts in DApps with Etherscan
To search for smart contracts via Blockchain Explorer Etherscan, follow these steps:
Step 1: Click on the Token Txns item you want to search for. In the instructions below, we will choose ERC20 Token Txns. At this time, the Etherscan screen immediately displays a list of Token Transfer Events for users to choose from.
Step 2: In this step, you need to click on the Token section to check the smart contract.
Step 3: Read the smart contract information displayed on the website. Users should pay attention to the number of tokens issued (Max Total Supply), the number of wallets holding a token (Holders), the number of transactions (Transfers), the contract address (Contract), and the platform’s social media pages (Social Profiles).
Monitor and view price charts to trade Crypto
To monitor and read price charts in Crypto trading, users can refer to the following steps:
Step 1: On the Etherscan homepage, click on Tokens. Then, select Top Tokens or Token Transfers.
Step 2: Continue to select the type of token for which you want to look up the price chart.
Step 3: Click Analytics and Historical Price in turn to see an overview of the price chart of that token. Thus, you have completed the steps to track the price chart in Crypto trading.
Read information via Blockchain Explorer Etherscan
Looking up and updating information via the Blockchain Explorer Etherscan platform is not too complicated. With this tool, you can search for “whale” wallets, create NFTs or even interact with DeFi protocols – a popular decentralized financial platform in the crypto market.
Find “whale” wallets via Etherscan
Information about the number of tokens in each wallet, which wallet on the blockchain is holding the token, etc. Is all publicly updated to users. Thanks to that, investors have an overview of the “whale” wallets that own the token.
If combined with a notification tool when an electronic wallet has any transaction order, it will be easier for you to track and update the actions of the “whale” wallet. From there, users can plan and invest properly and appropriately according to the market situation (buy or sell tokens).
The way to search for “whale” wallets holding tokens on the Etherscan platform is as follows:
Step 1: On the Etherscan homepage, enter the contract address of any token into the Search bar. Then, click search to update the wallet data.
Step 2: In this step, you select the Holders section to see the addresses of wallets storing the type of token you want to search for.
Create an NFT with Blockchain Explorer
This is a useful feature of Etherscan that few people know about. Normally, when creating an NFT, users will have to access the project’s website and connect their e-wallet. However, if the number of visitors is too large, the website may “crash”. This will hinder the trader’s trading activities. To overcome this situation, you can use the NFT mint feature provided by Etherscan.
Step 1: Go to the Etherscan homepage. Then, enter the contract address of the NFT project.
Step 2: The platform interface will display information about the contract. You select Contract, Write Contract, and Connect to Web3 in turn to connect the e-wallet and create an NFT mint. However, you need to note that if the project has closed the mint, users will no longer be able to mint.
How to interact with DeFi?
Similar to the above operations, traders can interact with DeFi protocols via the Etherscan tool. In other words, DEX, AMM or lending all operate based on smart contracts. If you use the project’s website to deposit and withdraw tokens, you are interacting with smart contracts.
The process of interacting with DeFi on Etherscan includes the following steps:
Step 1: Enter the contract address on the Etherscan homepage interface.
Step 2: At this point, the interface will display detailed information related to the contract address. Click on Contract, Write Contract, and Connect to Web3.
Step 3: In this step, choose the e-wallet you want to connect and proceed to deposit or withdraw money from the wallet.
Some notable feature updates on Explorer Blockchain
From the above sharing, you have grasped the basic features of Etherscan. Looking up Crypto trade history, smart contracts, viewing price charts, interacting with DeFi, etc. is not complicated. To serve the needs of traders, Etherscan also updates some other features. Let’s explore with us to understand better.
See more: Bybit exchange: Instructions for opening an account
Advanced Filtering Tools to Explore ETH Blockchain
The Advanced Filter feature (also known as advanced filters) on the Ethereum ecosystem was released to support users in refining blockchain searches through specific criteria. Accordingly, traders can analyze multiple types of transactions in the same view. At the same time, filtering data by payment time, amount, transaction assets, etc. is also fully updated for users to track.
In addition, the Advanced Filter feature also allows you to save filter searches for future reference and use. The Etherscan platform development team is working hard to improve and overcome some limitations of this feature to bring users the best experience when accessing the Ethereum network.
Applying AI to Interpret Smart Contract Source Code
The Code Reader tool uses artificial intelligence (AI) to interpret the source code of a specific smart contract. After the user asks a question, the tool generates a response based on OpenAI’s model. In addition, Code Reader provides a toolkit that lists functions for reading and writing data on Ethereum.
With the Code Reader app, you can edit the source code directly before sharing it with AI. This is an extremely effective tool that you should not ignore when you need to learn and integrate appropriate code into smart contracts on DApps.
Blockscan chat feature on Explorer Blockchain Etherscan
The introduction of the Blockscan chat feature on the Etherscan Blockchain Explorer platform has met the diverse needs of users. Through Blockscan chat, you can connect cryptocurrency wallets together. Messaging and direct interaction between users also become much faster and easier. To use Blockscan chat, you first need to have a MetaMask or WalletConnect wallet account.
Next, search for the wallet address on Etherscan to make transactions and chat with others. This feature has a high level of security, thereby minimizing the risk of personal data theft. Spam messages will be blocked by the system so as not to disturb users. In addition, Blockscan chat also helps create conditions for businesses to support users. You can also contact the hacker directly to recover the lost money.
In general, traders can trade directly on Blockscan chat without going to the NFT exchange. Because of these uses, Blockscan chat has attracted a lot of attention from the Ethereum community.
Conclusion
If you access the Ethereum ecosystem, you should definitely not miss Etherscan. This tool integrates a variety of features such as transaction information lookup, smart contracts, AI applications to explain source code, etc. In particular, users do not need to pay any fees on the Etherscan Blockchain Explorer platform.
Hopefully, the above article has helped readers grasp the basic operations on Etherscan. Don’t forget to visit Trading Crypto to update more useful knowledge about the cryptocurrency market!
FAQs
What role does the Blockchain Explorer play in trading?
Blockchain Explorer allows traders to access blockchain-related information (blocks, transactions, wallet addresses). For wallet addresses, you can find data on all incoming and outgoing transactions. In addition, the sender and recipient addresses, payment amounts, and transaction fees are also displayed on the tool.
Can users check DEX exchanges on Etherscan?
You can check DEX exchanges on Etherscan with just a few simple steps. Click on DEX Tracker in the More section. The screen will now display the number of transactions and the ranking of DEX exchanges. Then, you just need to click on Transaction Hash.
What should you pay attention to when checking gas fees on Etherscan?
You can refer to the following suggestions to check gas fees effectively on Etherscan:
- Using the “Gas Calculator” will help you save money and time when calculating gas fees.
- Always pay attention to monitor the network congestion level on the “Gas Tracker” page.
