A beginner's guide to using Etherscan

What Is Etherscan and Why It Matters

1. Etherscan is a blockchain explorer specifically designed for the Ethereum network. It allows users to view real-time data about transactions, smart contracts, token transfers, and wallet addresses. Anyone interacting with Ethereum-based applications will find Etherscan indispensable for verifying activity on the blockchain.

2. The platform operates as a transparent ledger, meaning every action taken on Ethereum—whether sending ETH, interacting with a DeFi protocol, or minting an NFT—is publicly recorded and accessible through Etherscan. No registration is required to browse data, making it an open resource for all users.

3. Etherscan does not hold or manage your funds; it only displays data from the Ethereum blockchain. This distinction is crucial for beginners who may confuse explorers with wallets or exchanges. It’s a read-only interface that reflects what’s already on the blockchain.

4. Developers, traders, and auditors rely on Etherscan to debug smart contracts, verify transaction confirmations, and monitor wallet balances. Its reliability comes from directly querying Ethereum’s decentralized nodes, ensuring accuracy and timeliness.

5. The interface supports multiple search options: you can look up an address, transaction hash, token name, or contract address. Each query returns detailed insights, often including gas fees, block confirmations, and internal transaction paths.

How to Track Transactions Using Etherscan

1. When you send or receive ETH or any ERC-20 token, you are given a transaction hash—a unique string of characters identifying that specific action. Copy this hash and paste it into the search bar on Etherscan’s homepage.

2. The resulting page shows the transaction status: whether it’s pending, confirmed, or failed. You’ll also see the sender and recipient addresses, the amount transferred, the gas fee paid, and the block number in which it was included.

3. If a transaction appears stuck, Etherscan allows you to check how much gas was used and whether network congestion is causing delays. You can decide to replace the transaction with a higher gas fee using your wallet interface.

4. For incoming transactions, you can verify confirmation count. Most services require at least 12 confirmations for high-value transfers. Etherscan updates this count in real time as new blocks are added to the chain.

5. Users can also view “Internal Transactions” and “Token Transfers” tabs to see interactions that don’t involve direct ETH movement, such as rewards from yield farming or cross-contract calls.

Exploring Wallet Addresses and Balances

1. Enter any Ethereum address into Etherscan’s search bar to view its full transaction history. This includes all incoming and outgoing transfers, interactions with decentralized applications, and token holdings.

2. The “Token Holdings” section lists every ERC-20, ERC-721, and ERC-1155 token owned by the address. You can see current balances, token symbols, and links to their respective contract pages.

3. You can label your own address for easier tracking, though this label is only visible to you if you use Etherscan’s account feature. Public data remains unchanged and anonymous unless the address has been publicly associated with an entity.

4. The “Transactions” tab shows a chronological list of all activity. Filtering options allow you to sort by ETH transfers, internal operations, or specific token types, helping streamline analysis.

5. For developers or auditors, reviewing an address’s interaction with smart contracts can reveal patterns of usage, potential vulnerabilities, or exposure to malicious protocols.

Using Etherscan for Smart Contract Verification

1. Developers deploying smart contracts on Ethereum can verify their code on Etherscan by submitting the source code, compiler version, and optimization settings. Once verified, the contract’s logic becomes publicly readable.

2. Verified contracts display a “Contract” tab with readable functions and variables. Users can interact with these functions directly through Etherscan’s interface—such as calling “balanceOf” on a token contract to check a wallet’s balance.

3. Verification increases trust, as users can audit the code for backdoors or unexpected behavior before interacting with the contract. Unverified contracts show only bytecode, which is nearly impossible to interpret without reverse engineering.

4. The “Read Contract” and “Write Contract” sections allow direct interaction. “Write” functions require signing transactions through a connected wallet, while “Read” functions retrieve data without cost or risk.

5. Etherscan also tracks contract creation transactions and lists all tokens issued from that contract, making it easier to trace the origin of new tokens or NFT collections.

Frequently Asked Questions

Can I recover lost funds using Etherscan? No. Etherscan only displays data and cannot assist in recovering lost private keys or reversing transactions. If funds were sent to the wrong address, there is no built-in recovery mechanism on the Ethereum blockchain.

Is it safe to enter my private key on Etherscan? Never enter your private key anywhere outside your trusted wallet application. Etherscan does not ask for private keys, and doing so on any website will result in irreversible loss of funds.

How accurate is the gas tracker on Etherscan? The gas tracker pulls live data from the Ethereum network and provides estimates for fast, average, and slow transaction confirmations. While highly reliable, actual confirmation times may vary due to sudden changes in network demand.

Can I see pending transactions for any address? Yes. Under the “Pending” tab in a wallet’s transaction history, you can view transactions that have not yet been included in a block. These may take longer to confirm during periods of high congestion.