How to Read Etherscan

Etherscan is a popular blockchain explorer that allows users to search and view information about transactions, accounts, and smart contracts on the Ethereum blockchain. Here are a few tips for reading and understanding the code on Etherscan, with some examples:

1. Transaction History

   You can view the transaction history of a particular address by entering the address into the search bar and selecting the “Transactions” tab. This will show you a list of all the transactions associated with that address, including the date, amount, and type of transaction. For example, you can infer from a transaction with a “Success” status that the transaction was successful and the funds were transferred from one address to another.

2. Account Balance

   You can view the current balance of an address by entering the address into the search bar and selecting the “Balance” tab. This will show you the total balance of Ether (ETH) and any other tokens that are held by the address. For example, if the balance is listed in wei, you can use a converter to convert the balance to ETH or a more widely-used currency.

3. Smart Contracts

   You can view information about a particular smart contract by entering the contract address into the search bar and selecting the “Contract” tab. This will show you the contract’s source code, as well as any transaction history and internal transactions associated with the contract. You can infer from the source code what the contract is intended to do and how it operates.

4. Token Information

   If the address you are viewing holds tokens, you can view information about those tokens by selecting the “Token Tracker” tab. This will show you the name, symbol, and total supply of the token, as well as the balance of the token held by the address. For example, you can infer from the total supply of a token whether it is a scarce or abundant resource.

Internal Transactions

An internal transaction on Etherscan refers to a transaction that occurs within a smart contract on the Ethereum blockchain. It is called an “internal” transaction because it does not involve a transfer of funds to or from an external address, but rather involves a transfer of funds or data within the smart contract itself.

Here is an example of an internal transaction:
Imagine that you have a smart contract that represents a virtual game, and players can purchase in-game items using a custom token. When a player buys an item, the smart contract will deduct the cost of the item from the player’s balance and add the item to the player’s inventory. This transaction, which occurs entirely within the smart contract, is an example of an internal transaction.

You can view internal transactions on Etherscan by entering the address of a smart contract into the search bar and selecting the “Contract” tab. The “Internal Transactions” tab will show a list of all the internal transactions associated with the contract, including the date, amount, and type of transaction.

Internal transactions are an important aspect of smart contracts and can be used to facilitate a wide range of complex interactions and operations within the Ethereum blockchain.

Blocks

In the context of Etherscan, a block refers to a group of transactions that have been added to the Ethereum blockchain. Each block contains a list of transactions, a unique block number, and a cryptographic hash that links it to the previous block in the blockchain.

You can view information about a particular block on Etherscan by entering the block number into the search bar and selecting the “Block” tab. This will show you details about the block, including the block number, the date and time it was mined, the miner’s address, the number of transactions in the block, and the block reward.
You can also view a list of the transactions contained in the block by selecting the “Transactions” tab. This will show you a list of all the transactions included in the block, along with their status and other details.

By viewing blocks on Etherscan, you can get a better understanding of the activity and structure of the Ethereum blockchain.

“Approve”

On Etherscan, “approve” refers to a function in the Ethereum blockchain that allows one address to give another address permission to transfer a specific amount of a particular token. This function is often used in conjunction with the “transferFrom” function, which allows the second address to transfer the approved amount of tokens on behalf of the first address.

Here is an example of how the “approve” function might be used:

Imagine that you have a smart contract that represents a virtual game, and players can purchase in-game items using a custom token. You want to allow players to use a third-party marketplace to buy and sell these items, but you don’t want to give the marketplace access to your entire balance of tokens. Instead, you can use the “approve” function to give the marketplace a limited, one-time authorization to transfer a specific amount of tokens on your behalf.

You can view the “approve” function on Etherscan by entering the address of a smart contract into the search bar and selecting the “Contract” tab. The “Read Contract” tab will show you a list of all the functions that are available in the contract, including the “approve” function. By selecting the “approve” function and entering the necessary arguments, you can see how it is used and what it does.

The “approve” function is an important part of the Ethereum blockchain and is used to facilitate a wide range of interactions and operations within smart contracts.

By reading and understanding the code and information on Etherscan, you can get a better understanding of the activity and holdings of a particular address on the Ethereum blockchain.

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