Web3 Beginners : In-depth discussion of what is blockchain data?

A blockchain explorer is a tool that can query and explore information on a blockchain, and it can help users understand information about any particular blockchain.

Previously, we introduced the tutorials of Ethereum blockchain explorer, Bitcoin blockchain explorer and TRON blockchain explorer. Next, we will continue to focus on the blockchain explorer and introduce some data parameters that make up it. Help Web3 beginners get started with blockchain quickly.

For example, if you open the Tokenview Bitcoin block explorer, you can track some indicators about the Bitcoin blockchain on this page, including network difficulty, hash rate, number of currency holding addresses, transaction volume, and blocks.

Tokenview provides 120+ blockchain entries, and each public chain supported by Tokenview has its own specific explorer. Before exploring the information and data on the blockchain in depth, it is necessary for us to understand some on-chain data indicators that make up the blockchain explorer. Let’s take the Bitcoin block explorer as an example to explain.

Chain info
Chain information generally refers to the overall overview of the blockchain, which allows users to quickly understand the operation of the blockchain.

Block info
The block information of the blockchain generally includes a block list page and a block detail page.
A block is the most basic unit in the blockchain, which records all transaction information on the blockchain. Each block has a unique hash value associated with all transaction information in that block.

Trading Info
Transaction information generally has the latest transaction list page, a block transaction list page, transaction details page, etc.
A transaction is a basic operation on the blockchain that records the transfer of assets between two or more wallets. Every transaction has a unique hash that is used to track the status and progress of that transaction. Transactions typically include information such as sender and receiver wallet addresses, amount, transaction fees, and a timestamp.

Block Height
The block height is the number of blocks between the latest block and the genesis block (height is 0). The latest height refers to the height of the latest packaged block, here we can simply understand it as the number of the block.

Trading Volume
Transaction volume measures the total number of transactions on a blockchain network over a given period of time. Analyzing trading volumes can help identify trends and patterns in user behavior, such as volume spikes during periods of high market volatility.

Transaction Fees
Each transaction requires a certain transaction fee, which is collected by nodes on the network and used to pay miners. Transaction fees are usually calculated based on factors such as the size and priority of the transaction. Bitcoin transaction fees are related to the number of bytes occupied by the transaction, not the size of the transfer amount.

Hashrate
Hashrate, which is the sum of the total computing power of all miners on the blockchain network, and it is usually used to measure the security of the blockchain network. The higher the network hash rate, the higher the security.

Mining Difficulty
Mining difficulty represents the level of difficulty that must be met to generate a new block in the blockchain. The mining difficulty is usually adjusted automatically by the blockchain protocol to ensure that the rate at which new blocks are produced remains at a constant level.

Active Address
Active addresses refer to addresses that have transactions every day. How many independent addresses conduct transfer transactions on the chain every day can be reflected by this indicator.

New Address
The new address refers to the address where the first transaction occurred. Once an address generates a transaction, it marks its new life. Through this indicator, we can understand the growth trend of new users of a project.

Confirmed Number
Every transaction on the blockchain needs to get enough confirmations to be considered a valid transaction. The number of confirmations indicates how many blocks a transaction has been confirmed by. Typically, Bitcoin requires 6 confirmations and Ethereum requires 12 confirmations.

Unconfirmed Number
The number of unconfirmed transactions means that the transaction data is in an unconfirmed state.

With the rich and open on-chain data provided by the block explorer, you can easily perform on-chain analysis. Gain valuable insights into market trends and other investor behavior. The above data on the chain can help you understand the ecology of the public chain project, and thus help you judge its value and market popularity.

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