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
Cold Wallet
Wallets that are offline and require physical access to certain devices (eg. hardware wallet, paper wallets)
Ledger
A record of financial transactions that cannot be changed, only appended with new transactions.
Proof of Work (PoW)
A consensus algorithm in which a block is validated via mathematical hashing
Derivatives
A financial instrument which derives its value from the performance of an underlying asset or index (eg. gold, crude oil)
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