Learn to Read Crypto and Blockchain Data With Our Simple Guide

2019-7-5 17:59

CoinMarketCap’s block explorer guide will have you navigating blockchain data like the coolest kid on the block.

At CoinMarketCap, we have made it a mission to clearly communicate blockchain and crypto concepts in conjunction with providing data in abundance. Education is one way we empower individuals to make informed decisions, in addition to providing them with an array of tools to do so effectively. 

CoinMarketCap was founded on the vision to offer free, up-to-date cryptocurrency information for the global crypto community. On CMC, users have access to a wealth of cryptocurrency market data, can obtain official project resources, as well as track their favorite crypto on different exchanges. Using the CMC mobile app, users can build their portfolio for easy access and stay updated anywhere they go. We recently updated our API, which allows developers to incorporate our data into their services and platform. Now, we have supplemented our market data and resources with a crucial set of information: blockchain data. 

What’s a Block Explorer and Why is it Important?

A block explorer is an online browser where users can view transactions that have taken place on the blockchain, find out how active the network is and track transaction volume, among other useful information. Think of it as a window into the blockchain world where payments, records, and block activities are accessible to the public, while sensitive data such as user identity is protected by cryptography. 

Simply put, CoinMarketCap’s block explorer presents data from four perspectives: a blockchain overview, a block view, a transaction view, and an address view. Depending on the user’s search needs, one overview will be more relevant than another. The queries made on the block explorer return a specific result, such as block 536254, instead of a list of choices that you might see when searching for something on Google. Thus a key skill needed to master the block explorer, is knowing how to search for the data you need. In a few paragraphs below, we have detailed all the items you can search for on the block explorer.

Testing Crypto-Savvy Levels: 1, 2, 3

Acquiring blockchain and cryptocurrency knowledge is a constant, lifelong journey for everyone. Coincidentally, the information available on block explorers can also be used as a casual benchmark of possessing a working knowledge of blockchain, cryptocurrency, and cryptography. Utilizing a blockchain browser requires practical knowledge of blockchain and crypto. But not to worry; those who already have a grasp of the fundamentals and are using our blockchain browser for the first time will find it to be a surprisingly manageable and empowering tool.

What Can I Do With a Block Explorer?

On a block explorer, crypto enthusiasts can confirm for themselves that their transactions have been verified, while miners can track recent block activity. We have designed the web interface so that beginners of cryptocurrency can intuitively grasp foundational concepts with its visual presentation. 

When you visit the homepage, you’ll be greeted by the blockchain overview section which provides the latest market and blockchain data as shown in this image. If you hover over the 3 tiny dots, the block view option shows up, and also displays the activity of blocks as they are created in real-time. This provides additional data so users to discover more blockchain activity. Anyone can quickly look up a particular block number, and inspect it on a deeper level by viewing the transactions contained in a block. In address view, the fourth and final overview, users can access their past transaction records, such as the number of incoming and outgoing payments and smart contracts sent, among other details. 

Could I Get Some Help on Using This Tool?

To help users become acquainted with the block explorer, we have written a guide for those with an interest to delve deeper into blockchain, its terminology, and processes. This resource was developed to suit anyone who wants to refresh themselves with blockchain concepts, or comprehend how crypto transactions work. Side by side, the block explorer and guide can serve as an education resource for students as well as working professionals.

CoinMarketCap’s block explorer currently has indices for Bitcoin, Ethereum and Litecoin, which forms the basis for learning how to navigate and comprehend the data for other blockchains. We will be adding more cryptocurrencies and functionalities to our block explorer, so users can explore the present and past states of blockchain, and perform more comprehensive analyses.

Our aim in creating this block explorer is a no-frills, user-friendly tool that provides easy access to data from multiple search points, and presents the data you’re searching for in a visually pleasant and intuitive manner. We believe this guide will remove second-guessing, accelerate your understanding and help you become a confident user of an important cryptocurrency and blockchain tool!

Get it for free, here.

Everything You Can Search For On Our Block Explorer By Cryptocurrencies

Browse market and blockchain data by cryptocurrency. Currently, our block explorer provides data for the Ethereum, Litecoin, and Bitcoin blockchains.

Blocks

See the placement of blocks as they are being created, track transaction volume, and confirm block creators and the recipients of block rewards.

Transaction IDs (also known as transaction hash ID/ TxID/ tx hash)

Verify the status of a payment and whether it was successfully sent. View the transaction amount, time stamp, and fees paid to miners to process the transaction.

Address

Search and view the transaction history associated with an address.

ENS

Users who have registered their Ethereum wallet to an Ethereum Name Service, which acts like a profile username, can search for their addresses this way.

The Best Ways to Use the Block Explorer [With Practice Questions]

Level 1: Exploration

For those who are just discovering blockchain and cryptocurrency or want to learn to navigate their way around a block explorer, we recommend the Explorer lesson which uses our guide. It takes you on a comprehensive tour, explaining the features and methods for using our blockchain browser. The approximate time required for an Exploration lesson is 1 hour, so you can bookmark this page, or open up the guide in your browser to view it later.

Level Two: Precision 

In this lesson, users can practice initiating specific queries on the block explorer to retrieve specific data on transaction timestamps, payment confirmation, and the amount of block rewards distributed. 

Exercise 1 

List the steps required to confirm whether a transaction was successful or not using this TxID on the Litecoin blockchain:

c6896148331ac4c02196deb15abe5a880ee23d3b64b0b368e4ab89651d2df317

Was the transaction successful?

Exercise 2

Find the number of LTC that sent from the following address, and how much LTC was received: MVZSbGR5VN2rwmzZ78rgSyfyGJfN8CANSW

How can you explain the different values of USD, in comparison to the LTC values?

Level Three: Investigation

Here’s a slightly more complex search to perform using a limited amount of information. When you have found the answer to all of these, feel free to leave a comment and let us know what you got!

Exercise 3: How Many ETH Were Sent ?

In this scenario, let’s imagine you want to look up the total amount of ETH sent over a smart contract on Ethereum block 1 million. The smart contract has once received a transaction of 100 ETH, and possibly more. How much Ethereum in total was sent using this smart contract? What are the steps you take to search for this data?

Answers

Exercise 1: Select the Litecoin icon in the search bar, and copy and paste the TxID. The green button shows the transaction was successful!

Exercise 2: 31.8432 Litecoin were sent to and from this address, but the USD values are slightly different due to the fluctuating price of the cryptocurrency.

Exercise 3: The way to begin is first to determine your search query and the clues you have. Think about what unique identifier can be used as a query, while keeping in mind transaction amounts and time stamps are invalid searches on the blockchain. This leaves you to search for the solution by block height, the only unique and valid search query. In this case, switch the blockchain you are searching on by clicking on the Ethereum icon prompts the search to be done on the correct blockchain. Type 1000000 into the search bar without commas (exclude the word “block”) and you should see this:

Luckily, Ethereum block 1000000 contains a mere two smart contracts, one of which has an exact amount of 100 ETH. Should there have been multiple transactions with 100 ETH within the block, you would need to know the timestamp to confirm that you have located the correct data. Once the correct transaction has been located, it’s time to click on the Ethereum smart contract that has received 100 ETH: 0xc083e9947cf02b8ffc7d3090ae9aea72df98fd47 

You can see that the balance of the address shows 0 ETH (on the day we captured this image). This is because the “address” is actually a smart contract consisting of internal transactions. If you look at the address details you will note five transactions have been initiated, with a total of 300 ETH sent by this smart contract!

If you have any questions, feel free to drop by our official Telegram chat to ask a question, or message us on Facebook or Twitter!

Interested in more content from CoinMarketCap? Sign up for our premium newsletter, which delivers fresh news content from the crypto/blockchain space directly to you!

The post Learn to Read Crypto and Blockchain Data With Our Simple Guide appeared first on CoinMarketCap.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

High Performance Blockchain (HPB) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.0064459
Капитализация $0 Rank 99999
Цена в час новости $ 0.4858 (-100%)

blockchain data guide coinmarketcap crypto learn block

blockchain data → Результатов: 126


Фото:

AccuWeather’s weather data reaches the blockchain via Chainlink (LINK) oracles

Blockchain technology has massive potential to change the way we store, use, and access data, but it hit a problem when it comes to importing real-world data onto the blockchain. This is an issue that Chainlink (LINK/USD) managed to solve via its oracle network, which has made it one of the projects with the biggest […] The post AccuWeather’s weather data reaches the blockchain via Chainlink (LINK) oracles appeared first on Invezz.

2021-8-6 18:16


BRD launches Blockset platform for enterprise blockchain development

BRD, a mobile cryptocurrency wallet, has announced the launch of an enterprise-focused service called Blockset, a blockchain data integration platform offering a suite of tools that will enable engineering teams to build enterprise-grade blockchain applications, access on-chain data through a single API, and write transactions in real-time on multiple chains.

2020-1-18 10:38


AI, FinTech emerge as key focus areas for blockchain start-ups, with data ownership not far behind

AI, FinTech emerge as key focus areas for blockchain start-ups, with data ownership not far behind » CryptoNinjas Leading blockchain and Web 3. 0 venture capital firm Outlier Ventures today published it’s latest Investments in Blockchain report, which provides an overview of blockchain investment and market trends worldwide since 2013.

2019-8-13 16:47


Фото:

Blockchain Projects in the EU to Benefit from Publicly Available Data 

The Council of European Union, the institution representing the member states’ government, has implemented new rules that will promote the use of publicly held data. These will include real-time datasets pertaining to weather and transportation and will be in blockchain and artificial intelligence (AI) projects to foster digital innovation across the European Union (EU), reportsRead MoreRead More.

2019-6-18 09:00


Data Suggests That the US and China are Caught in a Blockchain Arms Race

Much to the ire of cryptocurrency advocates, the general public tends to conflate blockchain – which is the tech underlying cryptocurrencies – and the digital assets themselves. Despite their strong connections, the two technologies are separate in many ways, and many analysts believe that as the general public becomes more interested in blockchain, they will.

2019-3-10 22:30


Career Opportunities and Challenges in Blockchain and Data Science

Written by Abhinav Rai, Data Analyst at UpGrad Ever since the advent of Bitcoin, the world became aware of a groundbreaking technology – Blockchain. Blockchain can be defined as “an incorruptible digital ledger of economic transactions” designed to track and record almost everything – from financial transactions (bitcoin) to anything else that holds value.

2018-7-24 08:40


Фото:

This Silicon Valley Supports Blockchain Organization and Wants to Develop into the Wikipedia of Goods

DIRT, a blockchain startup that plans to develop a trusted platform for structured data, has raised $3 million in a seed funding round. DIRT is looking to create a protocol for crowdsourcing information using the Ethereum blockchain to organize the world’s data and make it freely accessible to everyone. If the data is incorrect, anyone

2018-7-21 22:45


Фото:

IBM partners with Australian Gov’t to use blockchain for data security in $740 Million Deal

IBM has signed a five-year AU$1 billion ($740 million) deal with the Australian government to use blockchain and other new technologies to improve data security, Bloomberg reports Thursday, July 5. The major contract will see IBM provide technology such as blockchain, automation and artificial intelligence (AI) to Australian federal departments, including defense and home affairs.

2018-7-6 00:31


Bitcoin Mining Gives Birth To New Industry In Iceland: Data Centre Operations

Iceland will soon have a vibrant data centre operations industry in the country. This latest technology infrastructure expansion within the Nordic nation is the result of the pioneering efforts of bitcoin users who leveraged the supportive geothermal and hydropower conditions in Iceland to build expansive data centres to decode blockchain technologies.

2018-7-5 22:40


Фото:

Japan’s Module Platform Offers Users the Chance to Earn Cryptocurrency with Their Gadgets

The company has already collected more than $2 million through a private sale of its coins. This is not surprising, as this platform has the potential to turn the cryptocurrency market on its head in several different ways: secure mining, storage of a large amount of data using gadgets around the world, and financing of blockchain through the creation and development of decentralized applications (DApps).

2018-7-5 20:00


What Is CyberVein Cryptocurrency?

Currently hovering at #141 on CoinMarketCap, CyberVein is a decentralized database network that’s built on the DAG. Before you start to yawn at the prospect of yet another blockchain startup evolving around data, the CyberVein team has a lot of powerful new tech to offer and a very clear premise. Individuals don’t get paid for […]

2018-7-5 04:00


Cryptocurrency Becomes More Legitimate in Thailand Following New Laws

Cryptocurrency’s legal status in Thailand becomes clearer following new laws that make digital assets and currencies more legitimate. Thailand’s Digital Assets Business Decree defines cryptocurrency as a medium for exchanging “goods, services or any other rights, or to be exchanged for other digital assets, as well as other electronic data specified by the Securities and […] Cryptocurrency Becomes More Legitimate in Thailand Following New Laws was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-7-4 08:29