Block Explorer
By CoinGecko | Updated on Nov 03, 2020
Block explorer refers to application or websites which display information and status of transactions of a given public blockchain network. They usually do this by running their own nodes (they become part of the network), and then index information that may be relevant to the users. This opens up access to the data of a blockchain and allows regular users to look at progress of transactions or verify that a transaction has occurred without needing to run a node themselves.
Related Terms
Open Source
Open-source software is a type of software released under a license in which the copyright holder grants users the rights to study, change, and distribute the software to anyone and for any purpose.
Ponzi Scheme
A Ponzi scheme is also referred to as pyramid scheme, and typically takes the form of an investment scheme which pays existing investors with funds collected from new investors.
Double Spending
Double spending refers to the act of spending digital currencies twice. This is most commonly applied on crypto exchanges by unscrupulous actors.
Masternodes
Computers that are responsible for processing blockchain transactions and receive a reward when a block is mined.
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