11 benefits blockchain explorers offer both individuals and companies
Even those who aren’t steeped in the finance industry can probably call up a visual image of an old-school stock ticker, generating lengths of white tape to help investors stay on top of stock market transactions and developments. Today, these have been supplanted by up-to-the-moment digital trackers. In similar fashion, the crypto industry has blockchain explorers, which offer users real-time tracking of not only their own transactions, but also everything happening on the blockchain.
Providing invaluable information for both individuals and companies, blockchain explorers bolster insiders’ argument that cryptocurrencies can be a secure and trustworthy option for investments and digital transactions. Below, 11 members of Cointelegraph Innovation Circle discuss some of the benefits blockchain explorers offer to all users.
Blockchain explorers put all users on an equal footing by allowing each user to access the same information, at their convenience. Decentralized finance must expose numbers so users can independently verify the units of currency exchanged. I’m more interested in using blockchain to send and receive other types of data. Even if the data is encrypted, blockchain explorers can serve the same purpose of asynchronous coordination. – Stephanie So, Geeq
Blockchain explorers are a gateway for transparency and auditability. As an individual, you are able to independently verify what companies are doing as well as their claims. As a company, you can rest assured no one can point fingers at you, claiming foul play. It is a win-win situation, and core to Satoshi’s vision to not trust, but verify. – Tiago Serôdio, Partisia Blockchain
For startups, blockchain explorers are a game-changer. Web3 makes it easy to hold
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