What is a blockchain network, explorer and transaction hash

What is Blockchain? Blockchain is a decentralized database that records all transactions and events in the form of blocks linked in a chain. These blocks are stored on various computers called nodes and have a special mechanism for verifying and confirming transactions called consensus. This ensures transparency, security, and the resilience of the blockchain. Choosing a Blockchain Network When you decide to use blockchain, you will have to choose from various blockchain networks. Here are a few popular options:

Bitcoin (BTC): Bitcoin is the first and most well-known cryptocurrency operating on its own blockchain network. It uses the Proof of Work (PoW) consensus algorithm and charges fees in BTC for transaction processing.
Ethereum (ETH): Ethereum is a platform for smart contracts and decentralized applications. It operates on the Ethereum blockchain and charges fees in ETH, known as "gas," for executing operations.
Binance Smart Chain (BNB): This blockchain network is an alternative to Ethereum and offers lower fees in BNB for transactions and smart contracts.
Polkadot (DOT): Polkadot is a multi-chain platform that supports multiple different blockchain chains. DOT fees depend on the selected chain.
Cardano (ADA): Cardano provides an efficient environment for smart contracts and charges fees in ADA for transactions.
Solana (SOL): Solana is a high-performance blockchain network with low fees paid in SOL.

What is an Explorer? An explorer (or blockchain browser) is a web interface that allows you to explore blockchain data, view transactions, blocks, and address balances. It can also be used to monitor the network's status and find information about specific transactions. How to Choose an Explorer for a Specific Network? For each blockchain network, there are different explorers available. For example: For Bitcoin, you can use "Blockchair" or Blockchain.com. For Ethereum – "Etherscan" For Binance Smart Chain – "Bscscan". For Polkadot – "Polkascan". For Cardano – "Cardano Explorer". For Solana – "Solana Explorer". When choosing an explorer, ensure it supports the blockchain network you are interested in and provides all the necessary features for tracking and analyzing transactions. The choice of blockchain network and the corresponding explorer depends on your goals and needs. Before starting to use blockchain, explore different networks and choose the one that best suits your objectives. This can be the key to successfully integrating blockchain into your projects and financial operations. What Is a Transaction Hash in Cryptocurrency? A transaction hash is akin to a digital fingerprint for a cryptocurrency transaction. Just as each person has a unique fingerprint, every transaction in a cryptocurrency network has its own transaction hash. This hash is a long combination of letters and numbers that serves as an identifier for that specific transaction. How Can I Use a Transaction Hash to Track My Cryptocurrency Transaction? Tracking a cryptocurrency transaction using its hash is quite straightforward. Here's how you can do it step by step:

Find your transaction hash: After making a cryptocurrency transaction, whether it's sending or receiving coins, you'll receive a transaction hash. This hash is usually provided in your transaction history or in a confirmation email from the wallet or exchange you used.
Use a blockchain explorer: A blockchain explorer is akin to a search engine for the blockchain. You can use it to search for and inspect transactions, addresses, and blocks. Each cryptocurrency network typically has its own blockchain explorer.
Enter the hash: Go to the blockchain explorer's website and locate the search bar. Paste your transaction hash there and press the "Search" button.
Transaction details: Once you hit "Search," the blockchain explorer will display detailed information about your transaction. You'll be able to see the amount of cryptocurrency sent or received, the involved addresses, transaction time, and the number of confirmations.
Confirmations: Confirmations indicate how many times the transaction has been verified by the network. The more confirmations, the more secure and irreversible the transaction becomes. Some blockchain explorers also display the number of confirmations for your transaction.
Additional information: Typically, you can click on your transaction to get additional details. This might inсlude the transaction status (pending, confirmed, etc.), the fee paid, and the block in which the transaction was included.

Can I Use the Same Method to Track Transactions in Different Cryptocurrency Networks? Yes, you can use the same basic method to track transactions in different networks, but keep in mind that each network might have its own specific blockchain explorer. The key steps of finding a transaction hash and using a blockchain explorer remain the same, but you'll need to use a blockchain explorer specific to the network you're considering. Remember that tracking your transaction using the transaction hash is a convenient way to stay updated on the progress of your cryptocurrency transactions. It's particularly useful to confirm that your transactions have gone through and to monitor their status in real-time.