Cryptocurrency Transactions: How to Find Data on Blockchain Networks Like Bitcoin, Ethereum, and Cardano

Cryptocurrency Transactions: How to Find Data on Blockchain Networks Like Bitcoin, Ethereum, and Cardano

In the world of cryptocurrencies, every time a transaction takes place it gets logged in to a blockchain — a distributed ledger that makes the information globally available on a real-time basis. That does not mean a user or investor gets an automatic update about each successful transaction. It’s more like the data is stored and updated on the digital ledger but anyone who wants to check details has to look for it. But how do you do that? That is done with the help of tools that work as a sort of “Google” for cryptocurrency.

What about cross-platform data? Meaning if a Bitcoin blockchain user wants to check the details of a transaction related to, say, the Ethereum blockchain, how to do it? That can also be done by the same process. These tools are called blockchain explorers. Most of them provide services for more than one blockchain.

What are blockchain explorers?

Simply put, a blockchain explorer is a type of software that pulls data from a blockchain and creates a database for users to search for particular information from the available resource. They allow users to see details related to various cryptocurrency transactions, including the amount transacted, the source and the destination of the transfers, and the status of transactions.

A user can provide searchable terms and the explorer will throw up the results in a table form of all matching transactions.

A blockchain explorer allows for the exploration of data of recently mined blocks or transactions. They also allow a user to do the following:

Explore the transaction history of any wallet address, improving transparency on a blockchain.

The latest transactions in a blockchain and the amounts transacted.

Explore receiving addresses and change addresses. During a transaction, a specified amount is sent to the intended address and the remainder of the fund in the sending address is sent to a “change” address. The change is not available to spend until the transaction is confirmed on the blockchain network.

Explore the largest transaction of the day. The Whale Alert [https://whale-alert.io/] website is an example of this.

Explore mempool status. The mempool is where all the valid transactions wait to be confirmed by the network. This gives the details of unconfirmed transactions.

Helps users see fees paid for transactions, blockchain difficulty, hash rate, and other data.

Why use a blockchain explorer?

A blockchain wallet provides some data but it is limited in details and reach. An explorer, on the other hand, can provide data related to transactions carried out on all wallets on a blockchain. A major benefit of using explorers is they help maintain transparency.

Explorers allow users to check balance and expenditure on smart contract addresses, for checking if a wallet address is valid to a blockchain before sending crypto coins to it. They also help in checking whether the transaction has reached the intended recipient and see what went wrong if the transaction has not gone through. Explorers also give information about the cost of a transaction. As research tools, explorers help users in making important decisions on transactions and investments.

Blockchain explorer examples

One of the earliest blockchain explorers are blockexplorer.com. Since then, several such tools have been developed. Some of them are blockchain.com — now blockchain.org — along with blockchair, tokenview, and etherscan. Most of the available blockchain explorers cover a majority of blockchains like Bitcoin, Ethereum, and Cardano.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – August 23rd, 2021

Ethereum

Ethereum rose by 0.47% on Sunday. Partially reversing a 1.83% decline from Saturday, Ethereum ended the week down by 2.10% to $3,241.42.

A mixed start to the day saw Ethereum rise to a late morning intraday high $3,275.00.

Falling short of the first major resistance level at $3,290, Ethereum eased slid to a late afternoon intraday low $3,128.82.

Ethereum fell through the first major support level at $3,186 and the second major support level at $3,144.

Finding late support, however, Ethereum moved back through the major support levels to end the day at $3,240 levels.

At the time of writing, Ethereum was up by 0.48% to $3,257.02. A mixed start to the day saw Ethereum fall to an early morning low $3,235.44 before rising to a high $3,260.71.

Ethereum left the major support and resistance levels untested early on.

For the day ahead

Ethereum would need to avoid the $3,215 pivot to bring the first major resistance level at $3,301 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $3,300 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of another broad-based crypto rally, Ethereum could test the 23.6% FIB of $3,369. The second major resistance level sits at $3,361.

A fall through the $3,215 pivot would bring the first major support level at $3,155 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,000 levels. The second major support level at $3,069 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $3,155

Pivot Level: $3,215

First Major Resistance Level: $3,301

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 3.48% on Sunday. Reversing a 2.11% loss from Saturday, Litecoin ended the week up by 0.65% to $185.97.

A mixed start to the day saw Litecoin rise to a mid-morning intraday high $189.81 before hitting reverse.

Story continues

Litecoin broke through the first major resistance level at $184 and the second major resistance level at $188.

Coming up against resistance at $190, Litecoin slid to a late intraday low $178.71.

Steering clear of the 23.6% FIB of $178 and the first major support level at $176, Litecoin found support to end the day at $185 levels.

At the time of writing, Litecoin was up by 0.38% to $186.67. A mixed start to the day saw Litecoin fall to an early low $185.85 before rising to a high $186.86.

Litecoin left the major support and resistance levels untested early on.

For the day ahead

Litecoin would need to avoid the $185 pivot to bring the first major resistance level at $191 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Sunday’s high $189.81.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $200 before any pullback. The second major resistance level at sits $195.

A fall through the $185 pivot would bring the first major support level at $181 and the 23.6% FIB of $178 into play.

Barring an extended sell-off, however, Litecoin should steer clear of the second major support level at $175.

Looking at the Technical Indicators

First Major Support Level: $181

Pivot Level: $185

First Major Resistance Level: $191

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP rose by 0.91% on Saturday. Partially reversing a 3.57% fall from Saturday, Ripple’s XRP ended the week down by 4.55% to $1.22737.

Tracking the broader market, Ripple’s XRP rose to a late morning intraday high $1.25708 before hitting reverse.

Falling short of the first major resistance level at $1.2645, Ripple’s XRP slid to a mid-afternoon intraday low $1.18000.

Ripple’s XRP fell through the first major support level at $1.1868 before ending the day at $1.22 levels.

At the time of writing, Ripple’s XRP was up by 0.21% to $1.22998. A mixed start to the day saw Ripple’s XRP fall to an early low $1.22752 before rising to a high $1.23399.

Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead

Ripple’s XRP will need to avoid the $1.2215 pivot to bring first major resistance level at $1.2630 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from $1.25 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of another breakout, Ripple’s XRP could test resistance at $1.30 before any pullback. The second major resistance level sits at $1.2986.

A fall through the $1.2215 pivot would bring the first major support level at $1.1859 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.15 levels. The second major support level sits at $1.1444.

Looking at the Technical Indicators

First Major Support Level: $1.1859

Pivot Level: $1.2215

First Major resistance Level: $1.2630

23.6% FIB Retracement Level: $0.8533

38.2% FIB Retracement Level: $1.0659

62% FIB Retracement Level: $1.4096

Please let us know what you think in the comments below.

Thanks, Bob

This article was originally posted on FX Empire

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Cardano races to the top three, is behind Bitcoin, Ethereum

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NEW DELHI: Cardano, a relatively lesser-known cryptocurrency, has raced to the top three. In its dash to the top, Cardano (ADA) has made a stunning recovery from a $1 trillion crash and occupies the third place after Bitcoin and Ethereum.Cardano’s rise to the top has happened at a time predicted to be a ‘quiet one’ by market analysts. By Friday morning, Cardano (ADA) completed the week-long run registering 10 percent growth. This in terms of crypto gains is a formidable and matchless run.Its volumes swelled on the back of a software upgrade that could help the currency to stand next to Ethereum which is only second to Bitcoin.According to Coindesk, the digital coin hit an all-time high Friday of $2.58, an increase of more than 18 percent. Year to date, it has seen returns of 1,294 per cent recording a recovery of $82 billion, in the process surpassing Binance coin and securing the third position.This unprecedented rally may again continue following the update that is expected sometime on September 12. This phase will allow smart contract functionality and for a range of decentralized finance applications to be used on the Cardano network.Smart contract functions have been the strong points of any cryptocurrency and will continue to be so, for a longer period until an alternative is found to better the trading experience and exchange.Smart contracts are a way to ensure agreements can be validated securely. Ethereum has already arrived at that point and that is said to be its biggest strength.Another upgrade is on the cards when Cardano moves into the third phase known as Goguen . Enough space has been created in this phase to include Fungible and Non-Fungible Tokens.It must be recalled that Cardano was founded by the co-founder of Ethereum, Hoskinson four years ago, and if there is anybody in the world of cryptocurrency who knows the major takeaways of Ethereum vis-à-vis Cardano, it is Hoskinson.