Well, a time ago, when I was still learning about Bitcoin transactions, fought past this. It's one thing to write about Bitcoin, and it's another thing to still practice prefect it in the real world with your systems LOL.
Well, very simple, I would love to tag it as “Monitoring my bitcoin transactions.” Well, one of the coolest things about bitcoin is that one can be able to monitor his/her transactions using a “blockchain explorer” to see the status of your transaction in real time, just like I have said earlier, I myself was also not that familiar with bitcoin transactions back then. Now, after your bitcoin has been sent to the other addresses, there is what we call the “TXiD.” And all BTC transactions are recorded permanently on the Bitcoin blockchain, allowing you to verify and see their current status.
WHAT IS A BLOCKCHAIN EXPLORER?It is known to be a tool or website that allows users to search, view, and explore the content of a blockchain, such as Bitcoin or other altcoins. Well, it also provides a user-friendly interface to access and visualize blockchain data.
Blockchain technology, transparency, and accessibility are critical for users to have a deeper understanding of the network and the transactions that occur within it.
THE USE OF BLOCKCHAIN EXPLORER:Transaction history:well it is no to view details of the past transactions, including senders, receipts, amounts and timestamps.
Transaction history on a blockchain explorer typically includes:1. Date and time: When the transaction was confirmed.
2. Sender and recipient addresses: The Bitcoin addresses involved.
3. Amount: The amount of Bitcoin transferred.
4. Transaction fee: The fee paid to miners.
5. Confirmation status: Number of confirmations or "unconfirmed" status.
This information helps users
1. Track payment status
2. Verify transaction authenticity
3. Monitor wallet activity
4. Analyze transaction patterns
You can use this data to
1. Confirm receipt of payments
2. Identify suspicious activity
3. Reconcile wallet balances
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BLOCK INFORMATION: it knows as blockchain numbers, and can aslo view the hashes, timestamps, and transactions. Block information on a blockchain explorer typically includes:
1.Block number: A unique identifier for the block.
2. Block hash: A cryptographic hash that identifies the block.
3.Timestamp: The time the block was mined.
4.Transactions: A list of transactions included in the block.
5.Miner: The entity that mined the block.
6.Block reward: The amount of bitcoins rewarded to the miner.
7. Track transaction confirmations
8. Verify block validity
9. Monitor network activity
10. Analyze blockchain data
Here are few popular blockchain explorer you need to know.Blockchain:Blockchain explorer is a stalwart companion for both the newcomer and the seasoned in cryptocurrency. As one of the most widely used blockchain explorers, Blockchain provides real-time data on Bitcoin, Ethereum, and Bitcoin Cash blockchains.
https://www.blockchain.com/ BLOCKCYPHER: At the forefront of the blockchain revolution, BlockCypher is an innovative technology company that empowers developers with a suite of cutting-edge tools and APIs to build and manage blockchain-based applications. With their flagship offering, the BlockCypher Explorer, the company is leading the way in providing a user-friendly interface that makes blockchain interaction accessible to all.
https://www.blockcypher.com/-
BLOCKCHAIRis a popular blockchain explorer that allows users to explore and analyze multiple cryptocurrencies. Blockchair provides a user-friendly interface that allows users to search, browse and visualize blockchain data.
https://blockchair.com/-
ETHERSCAN: stands out as the premier Blockchain Explorer, search tool, API, and analytics platform specifically designed
https://etherscan.io/-
Mempool: The Memory Pool is a group of unverified crypto transactions that still need to be added to the blockchain
https://mempool.space/WHAT IS A TXID?A TXID is created by hashing the transaction data. More precisely, it's created by putting specific parts of the transaction data through the SHA256 hash function, then putting the result through the SHA256 again (this double-SHA256 hashing is referred to as HASH256).
Here is a diagram of the transactions identification.Note:that the TXiD can serve as proof that your bitcoin have been transferred to another public address. Also the TXiD doesn’t disclose any personal information.
With the help of this sources I could learn and understand more:
- Ai overview
- https://learnmeabitcoin.com/technical/transaction/input/txid
- https://coinmarketcap.com/academy/glossary/transaction-id-txid