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Etherscan
For Ethereum users who do more than sending funds or HODLing, gaining proper knowledge about how to use the blockchain is essential. Among the basic things to learn is Etherscan, as it is one of the most widely used tools.
Etherscan allows users to explore its features without signing up for an account or connecting to their wallets. Let’s delve deep into what Etherscan is, how it works and how you can use it.
What Is Etherscan?
Etherscan or Ethplorer is a free explorer tool for the Ethereum blockchain network. The tool allows you to search through and view on-chain data, including transactions, smart contracts, blocks, wallet addresses, and so on.
Since all interactions on the Ethereum network are public, anyone can view them. Etherscan helps you navigate through this data like a search engine.
Furthermore, you don’t need to create an account to use this tool, although having an account adds some extra functionalities.
Additionally, Etherscan doesn’t provide users with an Ethereum wallet to either use or store their private keys. It can’t also be used for trading. It simply acts serves as a source of blockchain data.
How Does Etherscan Work?
Copy and paste a public wallet address into the search bar, then click “Ok.” The action submits the information and redirects you to a page that displays the wallet’s key metrics, including ETH balance, corresponding USD value, and the full transaction history.
Etherscan is also useful for tracking pending transaction status. For example, when a transaction is initiated on MetaMask, you can check the “Details” page for the status of that transaction.
MetaMask links directly to the transaction hash’s Etherscan page, displaying the estimated transaction time before confirmation and updates once the transaction is confirmed.
It’s important to understand that although Ethereum blockchain and Etherscan are public, it displays just that specific public wallet address while other information remains hidden.
Etherscan also helps users interact with smart contracts to make transactions, search for airdrops, check gas fees, and more. But, you will need a contract address or any identifier to put into the search bar.
Looking Up A Transaction And Wallet On Etherscan
Transaction tracking is the primary feature of Etherscan. Understanding how to track your ETH is the key to accessing all of the information on the blockchain.
For example, let’s say you send 0.035 ETH from your wallet to another public address (0x580bbcd368197d44c6f54a728e59c33eff004b6a) and pay an extra 0.001569272664535 in transaction fees.
After the transaction, the blockchain will assign you a transaction ID (TXID), which is a combination of alphanumeric characters. A good example of a transaction ID is 0x80a2cc0g344651b3de746b2f1efbe9d35d4f348e05b345c8a840ebf956414fa5.
Here is how you can check the transaction’s number of confirmations and know its status.
- First, copy the TXID.
- Go to the Etherscan homepage and paste the TXID into the search bar and submit to view the specific transaction details, including transaction hash, status, block, timestamp, value, gas price, and so forth.
- You could also check the transaction status by looking at the receiving wallet. Copy and paste the receiving wallet address into the search bar.
- Scroll to the foot of the page to view every transaction associated with the wallet. Then, find your transaction and check its status.
How To Look Up Smart Contracts On Etherscan
If you regularly interact with smart contracts in DApps, you should understand how to find them using Etherscan. That enables you to ensure that you are transferring your funds to the appropriate contract.
To add a new token to your public wallet, you need to get the token’s contract address. A token’s contract address contains the token’s logic.
You can get a token address at the project’s official website or on websites like CoinMarketCap and CoinGecko.
To check the Uniswap ERC-20 token on Ethereum:
- Copy the smart contract address and paste it into the search bar on the Etherscan homepage.
- Details of the contract, including balance, and other general information will be displayed.
- You can find additional options to explore below, including the comment section, transactions, and the smart contract itself.
- Select “Contract” to view all available options to interact with and read Uniswap’s rules like “Read Contract,” “Write Contract,” “Connect to Web3,” “Transfer,” etc.
How To Check Gas Prices On Etherscan
Gas prices are included in Ethereum transaction fees. These fees vary depending on the specific block under which your transaction is included. Each block has a fixed cost that varies based on network activity.
Etherscan gas tracker displays the price and time differences at various gas prices. It’s a useful tool for predicting network traffic and how much you’d have to pay to interact with the Ethereum network. Users may use the gas tracker to decide the best time to send their transactions.
What Is EtherScan Post
Thanks for reading our post on what is Etherscan!
Etherscan is a free and easy-to-use tool for when you require information beyond what your exchange or wallet can provide. You can learn how to use the most basic functions within a short period.
Etherscan is also the foundation for other block explorers such as BscScan. Therefore, your skills will be easily transferable. It is an excellent place to start if you want to confirm the status of a transaction or examine the smart contract of your favorite DApp.
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