A block explorer is a special piece of software, usually a website or a mobile application that allows to get information related to a certain wallet or a transaction in crypto.
It is widely known that bitcoin is anonymous, it is to a certain extent, however once we have a wallet address and a name tied together we can see how much person X is holding and how much money is he sending and receiving.
We will tell about a certain coin that is completely anonymous and is very hard to trace so stick around, but before we get into that, let’s talk about how to use these so called “blockchain explorers”.
We go to https://www.blockchain.com/explorer
A website that allows us to latest bitcoin transactions and latest blocks as seen in the screenshot below.
This is very good and all, but what if there is a certain wallet we want to check, a wallet that might belong to a certain scammer or a criminal or anyone that we doubt is saying he is someone he is not.
Well it’s simple … we take his wallet address and put it in the search bar and click enter, the website will tell us on how many blockchain that wallet is available as illustrated in the screenshot.
In this example
we will use this wallet : 1aycHtsfN9Pzo53ZWvWirw95gYuE2eYEP
We chose the blockchain that we want and we can start seeing information about that wallet.
In this example
We will go with BTC, however if the person you’re trying to look up is using a different blockchain , make sure to choose the right blockchain.
In this screenshot we can see how many transactions this person made and how much money he received and how much money he sent and his current balance.
In the next section we can see exactly how much money he has received, when he received it and from whom and even the transaction hash
Alright so now that you discovered that crypto is not fully anonymous and you unbanked the fact that all those people who say that bitcoin is used by criminals are just lying because their interests are at play, as a matter of fact paper cash is more private than some crypto.
There is however one amazing project that will have its own blog here on megacrypto.tech
“Monero is the leading cryptocurrency focused on private and censorship-resistant transactions.” that’s how the owners of the project describe the coin.
Monero transactions are confidential and untraceable. Because every transaction is private, Monero cannot be traced. This makes it a true, fungible currency. Merchants and individuals accepting Monero do not need to worry about blacklisted or tainted coins.
That’s is it for today’s blog, make sure to share this with someone you think is interested in crypto.