The Cardano blockchain is a wonderful and mysterious place. Jam-packed with innovative dApps and progressive protocols, the Cardano ecosystem is swimming with potential. However, the discerning ADA fan can always go deeper.
Cardano blockchain explorers allow the avid ADA enthusiast to get a closer lock at the blockchain itself. We often talk about transactions being registered to a decentralized ledger, but blockchain explorers help us visualize everything that’s going on under the hood.
What is a Cardano blockchain explorer, and what are its benefits?
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What Is a Cardano Blockchain Explorer?
A Cardano blockchain explorer is a website or software tool that allows crypto asset enthusiasts to see what’s happening on the blockchain in real-time. This could be anything from verifying that their transactions are being executed properly to tracking the on-chain activity of ADA whales.
Beyond that, Cardano blockchain explorers give you additional insight into the Cardano network. Because the Cardano blockchain is publicly verifiable, budding analysts can also use an explorer to track epochs, validator nodes, stake pool behavior, and important on-chain performance metrics.
What are the benefits of using a blockchain explorer?
Why Use a Cardano Blockchain Explorer?
There are a multitude of advantages to using a Cardano blockchain explorer. While some are purely academic, others can give you a serious advantage regarding DeFi trading and other on-chain activities.
Let’s explore some of the benefits of using Cardano blockchain explorers.
Learn About the Cardano Blockchain
If it wasn’t obvious, learning to use a Cardano blockchain explorer is a great way to learn more about how the Cardano network, and blockchain technology in general, operates. Seeing your transactions definitively registered on the blockchain helps to understand the processes and implications of this emerging industry.
Beyond that, you can dig deeper into Cardano’s native architecture and see how the network’s iconic Ouroboros Proof-of-Stake consensus mechanism works in real-time.
Gain a Competitive Edge
Believe it or not, learning to use some blockchain explorers can help give you a competitive edge in the DeFi markets. Anytime you use a Cardano dApp like MinSwap, the website simply shows you a front-end display of what’s happening on the blockchain.
These front-end UIs often operate at a slight delay to on-chain data. This means savvy users who learn their way around a Cardano blockchain explorer can sometimes get a few seconds’ headstarts on those who trade through basic dApp interfaces.
Verify & Track On-Chain Transactions
One of the first things you should do when learning to navigate a Cardano blockchain explorer is to track and verify your own transactions. You’ll be able to see every transfer you’ve ever made, including any trades, transfers, or delegations to Stake pool operators.
With more experience, you can also learn to track and copy-trade the wallets of profitable traders and DeFi users. This can also become an effective method of discovering new Cardano ecosystem coins and projects flying under the radar.
Research & Analysis
Finally, many Cardano blockchain explorers have dedicated sections where users can research key on-chain metrics. For example, Explorer gives its users a vast range of analytics tools covering everything from TVL (Total Value Locked) to network health and energy consumption.
Top Cardano Blockchain Explorers
Now that we understand why Cardano blockchain explorers are so useful and how they can be used let’s look at some of the most popular platforms available.
Cexplorer is perhaps the most complete Cardano blockchain explorer in the ecosystem. The platform offers a staggering range of analytical material and a comprehensive catalog of stake pool operators, validators, and on-chain applications.
On top of that, Cexplorer is exceptionally user-friendly. Plenty of educational content on both the platform and the Cardano blockchain itself makes it easier than ever to learn the ropes and dive deeper into the chain world.
Another popular addition to Cardano’s block explorer family is CardanoScan. Thanks to its clean UI and simplistic approach to presenting transaction data, CardanoScan has secured itself a passionate community of dedicated users and developers.
Like its peers, ADAStat offers a comprehensive platform that gives Cardano power users extended insights into the chain. With detailed graphs and real-time block data, ADAStat is an excellent Cardano blockchain explorer for users of all experience levels.
Pros and Cons of Cardano Blockchain Explorers
Cardano blockchain explorers are an essential, often overlooked, part of the wider ecosystem. Let’s recap the benefits and drawbacks of block explorers on the Cardano network.
- Powerful Analytics – Cardano blockchain explorers like Cexplorer provide a vast range of analytics that can take your research to higher levels.
- A Great Learning Experience – Using a blockchain explorer will give you a deeper understanding of blockchain technology.
- Competitive Tracking Tool – Experienced trackers can use Cardano blockchain explorers to track the wallets of profitable traders and DeFi users to gain a competitive edge.
- Complicated for Beginners – For all their benefits, blockchain explorers can be difficult to understand. Learning how to use them effectively can take time.
On the Flipside
- Blockchain explorers are not a feature or service unique to the Cardano network; every blockchain has its collection of different block explorer tools.
Why This Matters
Cardano Blockchain explorers are essential tools that you should have in every ADA fan’s belt.
Cardano was founded by Charles Hoskinson and Jeremy Wood, who were both originally part of the Ethereum (ETH) team.
You can invest in ADA by purchasing digital assets on top crypto exchanges like Binance and Coinbase.
If ADA were to hit $10, it would have a market cap of over $350B USD. That would make it larger than Ethereum.