Block explorer lets cryptocurrency operators see information about blocks, addresses, and other information about transactions within the bitcoin blockchain. The web-based block explorer is open source and the mass of information it offers can look like nonsense to those who are new to cryptocurrency. A seemingly endless stream of strange looking data rolls down the computer screen, but to those who understand it however, it offers important information about what is happening in the blockchain.
The block explorer shows the most recent blocks in the blockchain. Every time a miner discovers a new bitcoin block and posts it on the network, it must be listed straightaway by block explorers. This gives users up-to-date information about its size, when it was discovered and the transactions within it.
The block explorer also shows the hash for every block and can also provide links to previously created blocks which also show a hash and a transaction history. Another benefit of the block explorer is that it can offer up-to-date information about the reward that a miner received for generating a block.
Block explorers are also effective search tools for transaction IDs and wallet addresses. They have become an important tool in finding cryptocurrency information.