Blockchain Explorer Guide | CoinMarketCap


To view the Bitcoin blocks, click on “View Block”. Once you’re in the Bitcoin blocks page, you’ll see an overview of the Bitcoin blockchain, including the most recent market data and block details.

At the top,the blue coin iconrefers to the type of asset that Bitcoin is defined as, while mineable means that this crypto is created by miners who solve cryptographic puzzles, and help verify transactions and add them to a digital ledger (which in this case, the ledger is the Bitcoin blockchain).

Most of the blockchain metrics on this page have been previously explained, except for two new terms: pending txs and difficulty. Pending txs are transactions that have been started but are yet to be confirmed by miners. This can occur for a variety of reasons, such as when the network experiences high traffic volumes, or when fees paid for that transaction were too low. Transaction fees act as an incentive for miners to process a transaction, so a lower fee can cause a delay in the speed that the transaction is added to the block. Difficulty refersto the measurement of how difficult it is to mine a block.In Bitcoin, the difficulty is adjusted periodically as a function of how much hashing power has been deployed by the network of miners. BTC dominance is introduced to the market data, which is defined by CoinMarketCap as an index that compares the market capitalization of Bitcoin with the overall market cap of all other cryptocurrencies in existence.

Beginning with the first column in the Block View section, “Block Height” lists the recently created blocks and the total amount transacted in each block represented in BTC and USD valued at the time the transaction was verified. This is followed by a unique block Hash ID, a cryptographic code generated to conceal data input and protect it from being altered. The “Transactions” column shows how many transactions have been successfully posted on that block, and the last column records the date and time it was completed (in YYYY-MM-DD format).

Should you want to view more details on a specific block, clicking on the block height will take you to all the transactions contained in that specific block.

As an example, we have clicked on block 575853 to gain more information. The first part shows the block header and its summary. In the “Transactions” subheader below, sometimes the sender or recipient may have an identifiable name (i.e. Coinbase, F2Pool) if the owner of the address has chosen to identify itself publicly. Otherwise, alphanumeric wallet addresses will be listed. The first transaction in a Bitcoin and Litecoin block is the block reward sent to the mining pool, or group of miners who combine their computational powers to collectively solve Proof-of-Work cryptographic puzzles. You will sometimes see “unable to decode” and “0 BTC” in transactions. This simply means that the transaction does not conform to a standard set script of transaction outputs. It is possible that the sender is using the blockchain as a way to store information and create a data record.

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