What is Etherscan? A Beginner’s Guide to Ethereum’s Blockchain Explorer

Etherscan is the leading Ethereum block explorer platform, occupying a special place among crypto services. Created in 2015, Etherscan has turned simple transaction tracking into a powerful infrastructure used by both professionals and beginners. The purpose of Ethereum explorer is to provide access to high-quality and accurate information about every aspect of the Ethereum network, whether it be transactions, smart contracts, tokens, or even unique works of art in the form of NFTs.

Every day, millions of users turn to Etherscan to resolve issues related to their assets and transactions and gain in-depth knowledge about the internal structure of Ethereum. So, let's take a look at how the Ethereum transaction tracker works, what benefits this tool offers, and why it should be included in the arsenal of every member of the crypto community.

Key features of Etherscan

ETH transaction tracker Etherscan offers a wide range of features. Let's take a look at the most important ones.

Transaction verification

The most important task facing every participant in the Ethereum network is to ensure that a transaction has been completed successfully. Most often, users turn to ethscan precisely to find out the fate of their transfers. By entering a unique transaction hash, you can obtain the following information:

transaction status: confirmation of whether the transaction was successful or if there were any problems;
transfer amount: information about how much ether or tokens were transferred;
sender and recipient addresses: both parties to the transaction;
transaction fee: information about the funds spent on paying miners for their services;
confirmations: the number of confirmations confirming that the transaction has been included in the blockchain.

Wallet analysis

The second key feature of the Etherscan block explorer is the ability to check the balance and transaction history of any Ethereum wallet. This feature is necessary for assessing financial activity and analysing assets.

After entering the wallet address, you will receive the following information:

wallet balance: the total balance of ether and other tokens at this address;
transaction history: a list of completed transfers and received funds;
tokens: information about ownership of ERC-20 and ERC-721 tokens (e.g., NFTs).

Smart contract exploration

One of the strongest features of ETH transaction lookup is its ability to explore and verify smart contracts. On the platform, you can:

check the smart contract code: view the source code of the contract and verify its correctness and absence of vulnerabilities;
research and interact with contracts: use special tools to test and diagnose contracts;
obtain information about contracts: data such as name, ticker, maximum token supply, and current reserves.

Viewing and minting NFTs

Ether explorer Etherscan provides the ability to view and analyse information about Non-Fungible Tokens (NFTs):

NFT information: data about the owner, properties and history of NFTs;
NFT minting: the ability to create NFTs directly from the Etherscan platform.

Chat and communication

The recently introduced internal chat feature allows users to contact NFT owners and discuss terms of sale without involving intermediaries. This creates an additional channel of communication that simplifies interaction within the crypto community.

Search for airdrops

Another interesting feature of the Ethereum blockchain explorer is the ability to find potentially lucrative offers in the form of free tokens (airdrops). By entering your wallet address, you can see a list of available airdrops and participate in token distribution programmes.

How to use Etherscan: a step-by-step guide to transactions and wallet search

Etherscan is an ETH blockchain explorer that provides information about transactions, wallets, smart contracts, and tokens on the Ethereum network. It is an indispensable tool for any user who wants to know exactly what is happening with their money or assets on the blockchain.

Below are instructions for the main operations that can be performed on the ETH scanner Etherscan, including transaction verification, wallet search, smart contract analysis, and token tracking.

Reasons to use Etherscan

The main problems that ETH wallet address lookup solves:
Checking transaction status: make sure that a transaction has been successfully completed and that the funds have reached the recipient.
Exploring wallets: view the balance and transaction history for any Ethereum address.
Checking smart contracts: evaluate the reliability and functionality of contracts published on Ethereum.
Monitor tokens and NFTs: explore the number of tokens, NFTs, and their history at any address.
Optimise gas fees: choose the right gas fee for fast transaction processing.

Next, we will take a step-by-step look at how to use Etherscan.

How to check an Ethereum transaction on Etherscan

Step-by-step instructions for checking the ether chain:
Go to the website: open your browser and visit https://etherscan.io/;
Paste the transaction hash: find the search bar at the top of the page and paste the transaction hash (the transaction identifier, called TXID) into it;
Perform the search: click the search button next to the bar or just press Enter.

Analyse the results:
Transaction status: see if the transaction was successfully executed or is waiting to be included in a block;
Number of confirmations: the number of confirmations received by the transaction;
Gas fee: note the fee charged by the commission;
Sender and recipient: look at the addresses of both parties involved in the transaction;
Transaction amount: make sure that the correct amount was transferred;
Date and time: find out when the transaction was created and included in a block.

How to find an Ethereum address on Etherscan
Step-by-step instructions for working with the ETH chain explorer:
Go to the website: go back to https://etherscan.io/;
enter the address: paste the Ethereum address into the search bar;
get the result: press Enter or click on the search icon.

View information:
current balance: make sure that the correct amount of ETH is in your wallet;
transaction history: review all incoming and outgoing transactions.
token list: find out which tokens are stored at this address (ERC-20, ERC-721/NFT);
analytics: if necessary, go to the Analytics tab to view balance statistics over time.

How to check smart contracts on Etherscan
Algorithm for checking a smart contract on crypto scan:
find and paste the smart contract address into the search bar;
after opening the contract page, go to the ‘Contract’ tab.

Contract verification:
if the contract is verified, you will see the Verified Contract Source button;
on the ‘Read Contract’ tab, you can view the current contract data and variables;
in the ‘Write Contract’ tab, you can interact with the contract methods (with a connected wallet).

How to check the gas fee on Etherscan

Algorithm for working with the gas fee calculator:

Open the Ethereum gas price tracker: on the Etherscan home page, find the Gas Tracker section;
Estimate current gas rates: this shows the average gas rates for three categories of transactions: low priority, normal and high priority;
Change the commission: based on the information received, set the appropriate gas commission when making a new transaction.

How to track tokens and NFTs on Etherscan

How it works: paste the Ethereum address into the search bar. Next, review the information:

scroll down to the ‘Tokens’ section: all ERC-20 tokens belonging to this address will be displayed here.
find the ‘NFT Transfers’ section to see NFTs (ERC-721 and ERC-1155 tokens).
Click on a specific token to get more information about it, including the owner, history, and description.

Now you know how to read a block explorer to get detailed information about the blockchain. Etherscan is a universal tool for all Ethereum users, allowing you to monitor transactions, analyse smart contracts, track balances and tokens, and adjust gas fees. By learning how to use this service effectively, you will be able to manage your funds more efficiently and protect them from unforeseen circumstances.

Tips for working with Etherscan

Knowing what Ethereum transactions are, you can use this information to improve your work with digital assets. To increase efficiency, we recommend using Etherscan for the following

Before executing a large transaction, be sure to check the smart contract.
Periodically check your address balance to prevent unauthorised transactions.
Use a gas tracker to plan the optimal transaction fee.
Check event logs to understand trends and patterns on the Ethereum network.

There are alternatives to Etherscan, but not all of them provide this functionality for free. After studying how the service works, we have identified the following advantages:

Transparency and security. Etherscan makes all transaction data publicly available, allowing you to check the history and activity of any address before sending funds, reducing the risk of fraud.
Fraud prevention. Ability to check the smart contract code before interacting and cancel potentially dangerous token approvals.
Market analysis. The ability to track large transactions, DeFi protocol activity, and token distribution helps predict price changes.
Wallet monitoring. Add favourite addresses and receive notifications about their activity without having to share private keys.
Extensive functionality. In addition to standard transaction data, Etherscan provides token analytics, market statistics, and notifications about significant events.

Despite its many positive qualities, Etherscan also has its limitations:

No intervention in smart contracts. If something goes wrong during contract execution, it is impossible to change the situation.
Load issues. High network activity can cause minor delays in the provision of information.
Publicity. As a public system, Etherscan displays the financial activity of each user, which reduces anonymity and privacy.

Etherscan is an essential tool for all Ethereum participants. It helps track transactions, verify contracts, purchase NFTs, and participate in token distributions. Its versatility and ease of use have made it an indispensable resource for anyone working with ETH. Now you know what Etherscan is and what Ethereum transactions are.

Frequently asked questions

What is a transaction hash?

A transaction hash is a unique identifier assigned to each transaction on the Ethereum network. It is necessary for tracking and verifying the status of a transaction.

Why didn't my transaction go through?

Most likely, a low gas fee has resulted in a long transaction time. Try resending the transaction with a higher fee.

Where can I find my wallet balance?

Enter your wallet address in the search bar on Etherscan, and you will see your current balance.

How to read Etherscan?

To read Etherscan, first go to Etherscan.io and enter the transaction hash, wallet address, or smart contract address in the search bar. You will then see detailed information on the corresponding page: transaction status, transaction history, balance and tokens stored at the address, or information about the smart contract. Use tabs and filters for more accurate analysis and selection of the information you need.