<p>Blockchain explorers are a handy tool that shows  the blockchain system&#39;s transparent and fair nature to the public.  Explorers serve the role of public ledgers, allowing users to tap into  the database of all transactions.</p><p>‍</p><h2 id="header-0"><strong>What is a Blockchain?</strong></h2><p>Blockchain  is a type of data structure that holds records or transactions while  ensuring security, decentralization, and transparency. This said  information is recorded in the form of blocks which allocate a  collection of transactions and information. This data is typically  stored on the public ledger, accessed using tools such as blockchain  explorer&#39;s.</p><h2 id="header-1"><strong>Navigating a Blockchain</strong></h2><p>A  blockchain explorer uses API and blockchain nodes to draw various  transaction data from a blockchain. This data is then arranged into a  presentable format for users to view their transactions.</p><p>Blockchain  explorers allow users to search and explore data on transactions and  verified blocks on a blockchain. The blockchain explorer for the BSC  network is bscscan.com. This database carries all information and  transactions carried out on the BSC network. The BSC explorer is the  same as all other explorers to search out an address, transaction, or  token name; so let&#39;s get on BSC explorer at www.bscscan.com</p><h2 id="header-2"><strong>BscScan Homepage</strong></h2><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/f28482e5609549d1aad607bf12d153a9.png" /></p><p>The  BscScan homepage shows the BNB price, BNB market cap, latest block,  transactions, validators, voting power, and the search  address/transaction hash/block/token.</p><p>Price: shows the BNB price  equivalent to USD irrespective of our location or currency, but this  price is not as accurate as a regular exchange of AMMs.</p><p>Transactions: displays a ledger of unique transactions confirmed over 24 hours. For a transaction to be confirmed</p><p>Transaction Volume History: shows the volume of transactions made on the BSC network for the last 14 days.</p><p>Latest block: displays various blocks and transactions last approved/validated on the block.</p><p>‍</p><h2 id="header-3"><strong>Exploring Transactions</strong></h2><p>BSC  users mainly use the smart chain explorer to track transactions using  either a wallet address, txn hash, block, or token name. For us to  search for a transaction on a wallet, you&#39;ll use the search bar at the  beginning of the page.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/d5c968a45a2b44f99f5f1dbb75ceca6d.png" /></p><p>Put  in the wallet address you want to search on and click search. When the  page loads, it shows you an overview of the BNB balance on the wallet,  value, and a list of BSC tokens available in the wallet once selecting  the dropdown menu</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/79a5f988aa774b4583d1218f49fc69e6.png" /></p><p>After that, you scroll down; the transactions menu defaults open, allowing users to see all BNB transactions.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/88749780afa04565bb0094cf4a70b440.png" /></p><p>The  next tab is internal transactions; it shows different transactions when  interacting with smart contracts and their transaction fees. The other  tab says BEP-20 token txns: this tab shows the record of BSC token  transactions carried out on the wallet.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/1238229109db475a82adbc6c58c16109.png" /></p><p>Analytics: This is a breakdown of transaction data into BNB balance, transactions, Txn fees, BNB transfers, and token transfers.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/c9203257775b444dbed005ba36479e64.png" /></p><h2 id="header-4"><strong>Charts and Statistics</strong></h2><p>The  BSC charts and statistics shows all the data collected on the BSC  network, which is then classified into four sections: blockchain data,  network data, validators data and contracts data. Various charts are  listed here displaying important Binance Smart Chain data. I will cover a  few of the more relevant charts such as daily transactions, unique  addresses, average block time, network fees, and network utilization.  These are only a few of the charts provided, but there is plenty of  useful data to analyze in these.</p><h3 id="daily-transactions">Daily Transactions</h3><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/49cce516a90649e8bc4645c8affacfd2.png" /></p><p>This  chart represents the total numbers of transactions are highlighted and  shown on this chart displaying the daily and individual breakdown for  individual activities, new addresses, harsh rate, total and uncle blocks  e.t.c</p><h3 id="unique-addresses">Unique Addresses</h3><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/ea7fc7c3a6c64820a1e675cbc66c1d27.png" /></p><p>This  chart shows the total number of unique addresses on the BSC dating back  to the launch. This chart easily allows users to the increase in new  addresses on the in the BSC DeFi ecosystem.</p><h3 id="average-block-time">Average Block Time</h3><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/d3b7d7cd2acd42ae91c3e507663dd6a9.png" /></p><p>The  average block time chart shows the historical average time taken in  seconds to add a block in the blockchain on the BSC. This graph is  always constant displaying the tremendously quick three second  transaction times on the BSC.</p><h3 id="network-transaction-fees">Network Transaction Fees</h3><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/8bde7e3206464fbaa3dc49d8d1ed378e.png" /></p><p>The  Binance Smart Chain transaction fee chart shows the total amount of BNB  paid as transaction fees on the network. This has been steadily  increasing and will only continue to do so, as more users begin adopting  the chain.</p><h2 id="header-5">Network Utilization Chart</h2><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/f56f002d043f43d880bf17e413db82ee.png" /></p><p>This  displays the average gas used over the gas limit; this is expressed in a  percentage. Overall it can be seen that the BSC is only using a small  fraction of its total network.</p><h2 id="header-6"><strong>Yield Farm List</strong></h2><p>The yield  farm list is a section on BscScan where upcoming tokens file their  listings with their token details. It also provides an index of ongoing  projects and upcoming ones. It is crucial to note that anybody can list a  project on BscScan, but as always, DYOR before investing in any token.  Overall, this is a great place to come when scouting out new BSC  projects.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/2f12aa76e5b440f895847929b2ec1700.png" /></p><h2 id="header-7"><strong>Concluding Thoughts on BscScan</strong></h2><p>Blockchain  explorers are a handy tool that shows the blockchain system&#39;s  transparent and fair nature to the public. Explorers serve the role as  public ledgers, allowing all users to tap into the database of all  transactions.</p><p>Without these tools there wouldn&#39;t be an accessible  way to reflect on all the past data. Overall, blockchain explorers are a  necessary tool in the crypto space, and they provide very robust data  to those who can navigate them properly.</p><p></p><p>Visit <a href="https://www.bsc.news/" rel="noopener noreferrer nofollow">bsc.news</a> for more content</p>

How to Navigate BscScan and Work a Blockchain Explorer?

Table of Contents

BSCN

Other articles published on Apr 27, 2023

Roobee is now on Zealy!

Blockchain, Not Bitcoin, is the Real Game-Changer, According to Franklin Templeton CEO

GALA (GALA) price down by 90%; Uwerx (WERX) price prediction positive with 50X gains

Avalanche price analysis: AVAX will challenge $17.6 resistance as bullish momentum picks up

Veax Labs Officially Launches Advanced NEAR-Based DEX on Mainnet, Introduces Major LP Incentive P...

Standard Chartered Crypto Custody Raises $36M in Japan's SBI-Led Funding, Rules Out USA

Join our free newsletter for daily crypto updates!