What is Etherscan, and how does it work?

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Etherscan is the most trusted tool for navigating all public data on the Ethereum blockchain, sometimes referred to as “Ethplorer”. This data includes transaction data, wallet addresses, smart contracts, and more. The application is independent and is not sponsored or operated by the non-profit Ethereum Foundation.

The Etherscan team includes professional developers and industry professionals who have developed the Etherscan application to make the Ethereum blockchain more accessible to ordinary users.

Although Etherscan is a centralized platform, the application makes it easy to search the Ethereum blockchain.

Is Etherscan a wallet?
Etherscan is not an Ethereum wallet and is not a wallet service provider. Users do not receive an Etherscan wallet when searching for the Ethereum blockchain on Etherscan.

Etherscan.io is a standalone block explorer based on Ethereum. The Etherscan app monitors blockchain transactions on the Ethereum network. The application then displays the results as a search engine.

This allows users to find transaction details on the Ethereum blockchain, which can provide some reassurance if their transferred funds have not yet appeared in your wallet.

While Etherscan can track activity on an Ethereum wallet address, users must link the app to an existing crypto wallet in order to do so.

You might be wondering if Etherscan is free to use? Yes, Etherscan is completely free.

What is the use of Etherscan?
Etherscan allows users to see what assets are in any public Ethereum wallet address. With Etherscan, enter any Ethereum address in the search field to see the current balance and transaction history of the wallet being checked. Etherscan will also display all gas payments and smart contracts that include this address.

Users can use Etherscan to:

Calculate Ethereum Gas Fee with Etherscan Gas Meter
Search and verification of smart contracts
View cryptocurrencies held in or linked to a public wallet
Real-time monitoring of transactions made on the Ethereum blockchain
Search for a single transaction from any Ethereum wallet
Discover smart contracts with verified source code and security audits
Keep track of how many smart contracts a user has authorized with their wallet.
Check and revoke wallet access for all DApps
Users can view any transaction on the Ethereum blockchain on Etherscan. These transactions include failed and pending transactions.

Etherscan can also track the progress of an incoming transfer. One way to track transactions with Etherscan is to look them up on Etherscan.io using a hash key. The hash gives users an estimate of how long it will take to confirm a transaction. The page is updated after the transaction is completed.

Etherscan also serves as an analytics platform. Anyone can use Etherscan to analyze network accounts such as changes in the value of Ethereum Gas (ETH), as well as track their wallet and monitor transaction history for suspicious activity.

On Etherscan, only public information is displayed on the Ethereum blockchain, so information such as a user’s private keys cannot be displayed in the application. Etherscan does not store private keys and is not involved in any of the proposed transactions. The app also cannot be used to resolve a transaction error.

Do users need an account to use Etherscan?
Users are not required to register an account before using the Etherscan application. However, registering an Etherscan account gives users access to additional features. These features include the ability to track addresses and receive alerts when a transaction is made. Developers can also sign up for free access to Etherscan blockchain explorer data and application programming interface (API).

This allows users with accounts to add their addresses to a “watchlist” in the block explorer to monitor or track their investments. Users can also set alerts to be notified of every incoming transaction by email. Etherscan also provides API services for developers to build decentralized applications.

Etherscan provides the following information about all incoming and outgoing transactions:

transaction fragmentation
The number of blocks with which the transaction was committed and the time it took to confirm the transaction
Sender and recipient addresses
gas fee
Amount sent
Total transaction fee
How does Eterscan work?
To use Etherscan, enter the address of any public Ethereum wallet in the search box at the top of the Etherscan.io website.

Source: CoinTelegraph

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