In short, a block explorer is a device that provides definite analytics about a blockchain network since its most memorable day at the genesis block. We can say a block explorer acts as a web crawler and browser where users can track down data about individual blocks, public locations, and transactions associated with a specific cryptocurrency.
Some block explorers likewise provide real-time statistics and market charts, as well as data about mining pools, pending transactions, network hash rate, rich rundown, block validators, orphan blocks, hard forks, and considerably more.
With respect to pending transactions, block explorers can be helpful for users that are waiting for block affirmations. For example, many exchanges provide their users with the transaction ID of their deposit or withdrawal request so they can follow the movement of their funds in real-time.
Depending on the type of blockchain, block explorers can likewise act as an overall data hub. For example, there are great many ERC-20 tokens running on top of the Ethereum blockchain, and users can track down data about them by checking their smart contracts on Etherscan or other Ethereum block explorer.
Block explorers are essential during the time spent monitoring the current state of a cryptocurrency network. With regards to Binance Chain, users can check the current status for BNB on the Binance Chain Explorer, including coin burn transactions and the current total supply.
Despite the fact that we might have different block explorers in a single website, every explorer is connected with a specific blockchain. In any case, there might be more than one block explorer for the equivalent blockchain (various organizations that provide a comparative service). A few companies likewise offer crypto wallet services alongside block explorers. Other than that, numerous websites provide a API for designers to utilize the blockchain data in alternate ways.