We're thrilled to announce the launch of our new educational series, diving into the world of crypto, blockchain fundamentals and the TON ecosystem. We're excited to share our knowledge and provide useful tips to make your journey into the crypto world smoother and safer, helping you avoid scams along the way.
In this our first post, we'll cover the basics:
- What is blockchain
- What is a blockchain explorer
What is Blockchain?
Imagine using Telegram and a friend sends some cryptocurrency, such as USDT. What is this digital money? How does it operate? Let's explore the fundamentals of blockchain, the technology that powers cryptocurrencies.
Blockchain serves as a digital ledger that documents transactions. Think of it as a series of blocks. Each block contains transaction details. These blocks are connected in a sequence to create a chain - hence the word “blockchain”.
Blockchain technology is not controlled by any single entity, such as a bank. Instead, it is managed by a network of computers known as “nodes” spread across the globe. And each of these nodes possesses a copy of the blockchain. These nodes collaborate to authenticate and log transactions, replacing the need for one centralized entity like a bank.
When one friend sends cryptocurrency to another, the transaction is recorded in one of these blocks. But before it gets included in the blockchain, other nodes must verify it. This validation process in cryptocurrencies ensures transactions are genuine and safeguards against fraud. Once validated the block joins the chain, reflecting an updated balance in crypto wallets such as Tonkeeper.
An essential characteristic of blockchain is its transparency and security. Every transaction is visible to all network participants. This makes alterations or hacking attempts challenging. Blockchain stands out as cutting-edge technology supporting cryptocurrencies. It revolutionizes how transactions and trust are perceived in the digital era.
What is a Blockchain Explorer?
Many people wonder how they can keep track of and validate transactions on a blockchain. This is where a blockchain explorer becomes useful.
A blockchain explorer serves as a tool that enables anyone to observe all transactions occurring on a specific blockchain. It can be likened to a search engine tailored for the crypto realm. When a friend sends cryptocurrency this action is logged on the blockchain. Through the use of a blockchain explorer, individuals have the ability to input either a transaction ID or wallet address to access transaction details.
Upon opening an explorer like Tonviewer , users are greeted with a search bar and an overview of recent transactions. By inputting a transaction ID, users can uncover information regarding transfers, including the transferred amount, sender and recipient addresses and confirmation time. This level of transparency stands as one of the core advantages of the technology.
Apart from transaction details, blockchain explorers provide an array of information for users to view. Users can check out block height (indicating how many blocks have been appended to the blockchain), monitor recent transactions and at times even assess the TON network status.
Utilizing an explorer is straightforward and does not necessitate any special permissions. It acts as a tool for verifying successful transactions and instilling peace of mind in users.
Users have the ability to delve into blockchain operations using this tool allowing them to grasp the intricacies of cryptocurrency transactions. Give an explorer like Tonviewer a try to witness a transaction in progress. It offers a peek into the wide open realm of blockchain technology.
Stay tuned and get ready to learn!
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