Users can use Etherscan to see what assets are held on any public Ethereum wallet address by just entering any Ethereum address into Etherscan’s search box to see the wallet’s current balance and transaction history. Etherscan will also show any gas fees or smart contracts associated with that IP address.
Learning how to explore the Ethereum blockchain is extremely beneficial if you use Ethereum for more than just HODLing or sending a few transactions and one of the most popular solutions is Etherscan. Most of the functions of Etherscan may be accessed without requiring you to connect your wallet or create an account.
Let’s go over how to use Etherscan and what you can do with the results.
What Is Etherscan
Etherscan is an Ethereum blockchain explorer. This free tool allows you to view every previous transaction, wallet, smart contract, NFT, or anything else in the Ethereum history. Some other blockchain networks have similar products.
Why You Should Use Etherscan
Etherscan is one of the most well-known and reliable Ethereum block explorers. You can better comprehend what’s going on with DApps and transactions if you have a better understanding of how you interact with the blockchain. This understanding can also help you stay safe by allowing you to recognize questionable blockchain activities.
Etherscan can also assist you in identifying potential scams or rug pulls, in which developers abandon their projects and sell their coins.
What You Can Do With Etherscan
There are a lot of things you can do with this Ethereum explorer. Some of them include the following:
Check transactions on Ethereum
The Etherscan site provides a snapshot of the Ethereum blockchain, including the price and market capitalization of Ether, as well as information on the most recent transactions and blocks validated on the network.
Etherscan is a great place to go if you need more information about a specific block. You may use the tool to learn more about a block, including where it is on the blockchain, how many transactions it contains, who mined it successfully, and how much processing energy was used in mining it, among other things.
You can also look at the history of transactions for certain Ethereum addresses. Etherscan uses blockchain wallet addresses with the same randomized letters and digits. It’s simple to grasp what you see on Etherscan once you understand the basics of how blockchain transactions and assets work.
Wallet tracking
The wallet details page is accessed by entering a wallet address or clicking on a wallet address from another page. Using the address tracking features, you can monitor all previous transactions for a single bitcoin wallet as well as its current holdings.
Checking smart contracts
Smart contracts, like all Ethereum transactions, are recorded on the blockchain and support NFTs, decentralized finance, and decentralized apps.
You can use the explorer to look into asset histories and verify ownership, among other things. While you won’t be able to see an NFT using Etherscan, you will be able to see the coding that shows who owns it and click on links to see the asset.
How To Use Etherscan
Checking transaction
Tracking transactions is a basic feature of Etherscan. Understanding how to track your cryptocurrency is essential for accessing the rest of the data on a blockchain.
To track transactions on the blockchain, go through the following steps
1. Go to the Etherscan homepage and look for the search bar towards the top.
2. Paste the transaction ID (TXID) into the search window and click the “search” icon.
3. You can now see all of the specifics about your unique transaction.
4. For more extensive information, press the [Click to view More] button.
It will be clear from the data displayed if the transaction was completed or not. You can also peek at the receiving wallet to see how your transaction is progressing.
To do so, return to the search field and paste the receiving wallet address:
You can see a list of all transactions linked with the address at the bottom of the page.
Checking smart contracts
It will be a good idea to learn how to find smart contracts on Etherscan especially if you frequently interact with them in DApps. You can double-check that your money is being sent to the correct contract with these steps:
1. In the search field, copy and paste the smart contract address.
2. You’ll now see information on the Uniswap (UNI) token contract’s contract balance and other general details.
3. Below that, there are more alternatives to choose from, such as transactions, a comments section, and the smart contract itself. To interact with and understand Uniswap’s regulations, click [Contract] next.
4. The [Read Contract] tab displays contract information in its most basic form. It allows you to check the balance of certain addresses or wallets that have been granted permission to utilize the token in your wallet, for example.
Checking gas fee
Ethereum transaction fees include gas prices. These charges vary depending on which block your transaction is part of and each block has a fixed cost that varies based on the amount of network traffic.
Etherscan’s gas tracker displays the price and time differences as gas prices change. It’s a handy tool for estimating how congested the network is and how much you’ll have to pay to transmit a basic transfer or engage with a more complex smart contract.
Finding airdrops
Etherscan also serves as a database for the Ethereum network’s ongoing airdrops. Each airdrop will have its own set of guidelines to follow, which can be seen in the [Details] column. The airdrop list can be found on the website.
Limitation Of Etherscan
Etherscan gives a lot of information which can be too much for some people.
Although Etherscan delivers data in a usable manner, it is not suited for active trading charts and it’s also not a place where you can purchase, sell, or send cryptocurrencies.
It is safe to say that Etherscan is a great supplement to your cryptocurrency tracking, not a replacement.
Some people also argue that the explorer may become obsolete with time as new innovations come up.
FAQs
What is the purpose of Etherscan?
Etherscan is a valuable tool for Ethereum Network users who want to keep track of transactions, check smart contracts, get statistics, and stay informed about what’s going on on the Ethereum blockchain. Furthermore, it is free to use, and you do not need to register to use most of the features.
How do I send money through Etherscan?
Before you send money through etherscan, you will have to connect your wallet.
How do you buy on Etherscan?
You’ll need a wallet address, transaction ID (TXID), contract address, or similar identifier to paste into the search field in order to utilize Etherscan. The data you see will vary depending on what you’re looking at, but it will almost always include related transactions, addresses, timestamps, and amounts.
Is Etherscan free?
Etherscan is free to use, and you do not need to register to use most of the features.
Is Etherscan a wallet?
Etherscan is neither an Ethereum wallet nor a service provider for Ethereum wallets. When users search the Ethereum blockchain on Etherscan, they do not receive an Etherscan wallet.
How do I log into Etherscan?
Visit Etherscan.io in your preferred browser. Go to the upper right-hand corner of the home page and click “Sign in” next to the Ethereum logo.
Final Words
Ether, the native unit of the Ethereum network, is the world’s second-largest cryptocurrency by market value and is widely used for cryptocurrency investing, trading, and other activities.
Because of this huge adoption, transactions, like those of other cryptocurrencies, are publicly recorded in a huge database known as a blockchain. You can use Etherscan to discover more about the Ethereum network’s transactions, which range from coin transfers to non-fungible token purchases (NFTs).
