Tracking Transactions in the Blockchain: A Complete Guide to Using Block Explorers

If your deposit or withdrawal is delayed, understanding how to track blockchain transactions becomes critically important. This is where specialized data analysis platforms come into play. They help you monitor the status of a transaction, obtain detailed information, and provide necessary proof to support services. Let’s understand how these tools work and how to use them correctly.

What Are Blockchain Explorers and Why Are They Needed

Blockchain transactions generate a vast amount of information that must be transparent and verifiable for all network participants. Blockchain explorers are specialized platforms that process data via APIs and network nodes to give users a complete picture of what’s happening.

These tools allow you to:

• Track specific operations by their unique identifier (TXID)
• Check status and number of confirmations
• Study information about wallets and addresses
• Understand network parameters, including current hash rate and volume of processed transactions

Traders use explorers daily to verify whether their transaction has gone through. Miners monitor block activity and received rewards. Ordinary users check the status of their deposits. Essentially, these platforms are the foundation of transparency in the entire cryptocurrency ecosystem.

What Information Do Blockchain Explorers Show

Each explorer typically focuses on a specific network or cryptocurrency to provide more comprehensive information. This allows users to see detailed data about each transaction.

Main types of displayed data:

At the network level:

• Total volume of processed transactions
• Current hash rate and computational power
• Average fees

At the individual transaction level:

• TXID (unique transaction hash)
• Execution time and current status
• Block height in which the transaction is included
• Sender and receiver addresses
• Number of network confirmations
• Amount in cryptocurrency and its fiat equivalent at the time of the transaction
• Processing fee (gas fee)
• Additional data about smart contracts, if applicable

At the block level:

• Block hash and its height in the chain
• Date and time of creation
• Number of included transactions
• Miner’s power that created the block
• Fee distribution

Note: Gas fee is the processing fee on the blockchain itself; it differs from platform fees if you conducted the transaction through an exchange.

Which Explorers to Use for Different Networks

Choosing the right tool depends on which blockchain you are transacting on. Here is a list of main platforms:

Universal platforms:

• CoinMarketCap — aggregates data across many projects
• Blockscan — supports several major networks

For Bitcoin (BTC):

• Blockchain Explorer — classic option for Bitcoin, also supports ETH and BCH
• BlockCypher — works with BTC, DASH, DOGE, and other altcoins
• Blockchair — covers BTC, LTC, XRP, BCH, and ETH in one interface

For other major networks:

• Etherscan — main tool for Ethereum (ETH)
• Solscan — de facto standard for Solana (SOL)
• Tonscan — specialized for TON
• Hedera Explorer — for Hedera network (HBAR)
• Polygonscan — for Polygon (MATIC)
• Arbiscan — for Arbitrum (ARB)
• BSCScan — for BNB Smart Chain

Each platform allows searching transactions by TXID or viewing the history of a specific wallet address.

How to Use Data to Resolve Issues

If you submit a support request regarding an uncredited deposit or fund return, an explorer can help you gather all necessary evidence. Accurate data will speed up the processing of your request and increase the chances of successfully recovering your funds.

Key information to provide:

• Transaction hash (TXID) — a 64-character unique sequence that identifies your operation on the blockchain and allows anyone to find full details about it
• Token contract address — if dealing with user tokens, this address uniquely identifies the token on the network (important not to confuse with the recipient address — funds should not be sent to the contract address)

Having this information from the explorer, you can precisely describe what happened with your transaction, whether it was actually sent, at what stage it is, and why the funds have not yet arrived.