What is a Block Explorer?
All cryptocurrency transactions are blockchain-based, and all transactions that take place are recorded to a blockchain. A block explorer is an online system that makes information saved on the blockchain accessible. If you are asking the question, what is a block explorer?, you will find the answer in this article.
What is a blockchain?
Blockchain technology works using a distributed ledger system. Every transaction made on the blockchain is recorded. It is encrypted with encryption protocols and stored on a blockchain network. The data processed on the blockchain is immutable — it cannot be changed. Transactions performed on the blockchain are safer for users and their data.
Blockchain technology works on the principle of trustlessness. All transactions are recorded on the blockchain and carried out securely without the need for approval from a third party. Transactions recorded on the Blockchain are accessible to everyone and cannot be changed and these characteristics enable users to make transactions safely in the ecosystem.
What is a block explorer?
Block explorers make it possible to access public information stored on the Blockchain. With a block explorer, anyone can access transaction information recorded on the Blockchain, such as the most recent transactions, transaction volume, the most recent block and the hash rate.
Since all the aforementioned data is anonymous on the blockchain and encrypted with cryptography, it is impossible to know who made the transactions despite the transactions themselves being viewable. Thanks to this, it becomes possible to perform transactions securely without the authority of a third party.
In conclusion, a block explorer system is a tool that allows users to access transactions recorded on the blockchain. All transactions recorded on the Blockchain can be accessed via block explorers. On top of this, miners can also use a block explorer to check the blocks they have mined.
Since all transactions on the blockchain are viewable, the wallet address known to belong to Satoshi Nakamoto is also accessible. You can our article, How many Bitcoins does Satoshi Nakamoto have?, to learn more about their wallet.