So, there's this awesome thing called Ethereum. It's a totally rad decentralized blockchain platform that lets developers create and deploy smart contracts and decentralized apps (DApps). The brain behind it all is this dude named Vitalik Buterin. He officially launched Ethereum back in July 2015, making it the second generation of blockchain tech after Bitcoin rocked everyone worldwide. Users are able to check Ethereum transactions through multiple methods like Ethereum Block Explorers, hash, Wallet Applications, API Services, Third-Party Services, etc. The most common methods are Ethereum Block Explorers, hash, and Wallet Applications.
How To Check The Status Of An Ethereum Transaction?
When users send Ether from one address to another address, the transaction is sent to the Ethereum network, Where the transaction is verified. After verifying the transaction, it will be automatically recorded on the Ethereum blockchain history. There are several methods to check the status of an Ethereum transaction.
Ethereum Blockchain Explorer
The Ethereum blockchain explorer is a tool or website that is mostly used to check Ethereum transaction history, balance, blocks, and Address information that is available on the Ethereum blockchain. There are two types of Ethereum Blockchain Explorer that are able, Etherscan and Etherchain, and these both have similar key features.
It has a simple way to check your Ethereum transaction history. First, open the Explorer and add the address for which you want to check your history. After that, you will get all the details or transaction history of Ethereum.
How Long Does An Ethereum Transaction Take To Process?
The transaction confirmation time of Ethereum is not too long. However, it will take 15 seconds to five (5) minutes usually. Somehow, it takes more time to confirm the transaction because of network issues, and It also depends on the gas price set by the sender.
Gas Price:
The gas price is like a fee that users have to pay for the transaction confirmation or processing on the Ethereum network. If users pay a good amount, meaning a high gas price for the transaction process, then Ethereum transactions will not take a long time.
Why Should Traders Check A Transaction’s Status?
The traders must check a transaction's status because It helps traders know whether their transaction has been added to the blockchain. If traders don't check out transaction status, then it will be more risky for them because if any transaction is stuck due to any issue, it will have a huge impact on their outcome. Otherwise, if any transaction is stuck, traders have to give more gas prices to do the transaction again. Sometimes traders will pay a low gas fee for the transactions, so they must have to check the status. There are several disadvantages for traders if they don't check the status of transactions, so they always check their transaction status, and it helps them to make quick and safe transactions.
Conclusion
Ethereum is considered to be the second largest currency in the world of cryptocurrencies, and several traders do trading on this currency. These traders always want to check their transaction history, and the most common and useful way is Ethereum Blockchain Explorer. This explorer helps traders to check out all the history, and it’s very simple to use that tool or website. Traders must confirm that their trade and transaction is complete because if a transaction is stuck due to any reason, then traders must have to pay more gas fees, and it will not be good for their outcome. So, all the traders are always utilizing their transaction history because it is a must thing for them.