A Blockchain Explorer is a tool that allows anyone to explore any public cryptocurrency’s blockchain.

It allows you to review blockchain transactions as they’re added, view wallet balances and all transaction history, and check the status of transactions.

Traders, investors and analysts use blockchain explorers to analyze specific wallet addresses in an effort to gain a better understanding of buying and selling and potential shifts in market sentiment.

For instance, wallet addresses deemed to be held by whales (based on publicly viewable portfolio size) are watched by analysts for large asset transfers to and from exchanges, offering a potential sign that a whale is getting ready to offload a large portion of their holdings.

Blockchain explorers also all you to view and analyze:

  • a blockchain’s recent blocks
  • the transactions in a given block
  • the genesis block of a blockchain
  • mempool status
  • the largest transaction of the day
  • double-spend incidents
  • blockchain difficulty
  • hash rate
  • average transaction fees

Some blockchain explorers help analyze only single blockchains, while others allow you to explore over 20 blockchains for the same interface.