How does Etherscan work in tracking and verifying cryptocurrency transactions?

3 answers

• Dec 25, 2021 · 3 years ago
  Etherscan is a popular blockchain explorer for the Ethereum network. It allows users to search and view transaction details, wallet balances, and smart contract code. To track and verify cryptocurrency transactions, Etherscan relies on the transparency and immutability of the Ethereum blockchain. It scans the blockchain for new transactions and records them in its database. Etherscan also verifies the authenticity of transactions by checking the digital signatures and cryptographic proofs embedded in each transaction. This ensures that the transactions are valid and have not been tampered with. Etherscan's tracking and verification process provides users with a reliable and transparent way to monitor their cryptocurrency transactions.
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• Dec 25, 2021 · 3 years ago
  Etherscan is like the Sherlock Holmes of the cryptocurrency world. It uses its detective skills to track and verify every move in the Ethereum blockchain. When a transaction occurs, Etherscan swoops in and collects all the relevant information, such as the sender, recipient, amount, and transaction hash. It then cross-references this data with the blockchain to ensure its accuracy. Etherscan also checks the digital signatures to make sure they match the public keys of the participants involved. This way, it can guarantee the authenticity and integrity of the transactions. So, if you ever need to investigate a cryptocurrency transaction, Etherscan is your go-to detective agency!
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• Dec 25, 2021 · 3 years ago
  As an expert in the field, I can tell you that Etherscan is an essential tool for anyone involved in cryptocurrency transactions. It provides a comprehensive view of the Ethereum blockchain and allows users to track and verify their transactions with ease. Etherscan achieves this by continuously scanning the blockchain for new transactions and updating its database in real-time. It also performs various checks to ensure the validity and authenticity of transactions, such as verifying digital signatures and cross-referencing transaction details. This level of transparency and security is crucial in the world of cryptocurrencies, where trust is paramount. So, whether you're a trader, investor, or simply curious about the Ethereum network, Etherscan is the go-to platform for tracking and verifying cryptocurrency transactions.
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