Blockchain explorers are essential tools for anyone looking to analyze transaction data, verify network activity, or understand the technical specifics of a particular block. This article breaks down the key components of an Ethereum block using a real-world example to help you interpret the data like a pro.
Breaking Down Ethereum Block #13,291,902
Ethereum block #13,291,902 was successfully mined on September 25, 2021. It provides a fascinating snapshot of network activity at that specific point in time, showcasing various metrics from transaction volume to miner rewards.
Key Transaction Metrics
This block contained a total of 297 transactions. Within these transactions, a significant amount of value was moved:
- Total ETH Sent: 422.4069 ETH
- Total USD Value (at time of mining): Approximately $1,235,802
- Average Transaction Value: 1.4222 ETH (roughly $4,160.95)
- Median Transaction Value: 0.00000 ETH, indicating a high number of very small or contract-based transactions alongside larger ones.
Miner Rewards and Fees
The miner, identified as Hiveon Pool, received a total block reward for their computational work. This reward is a combination of a fixed base reward and variable transaction fees paid by users.
- Total Block Reward: 2.06 ETH ($6,026.78 at the time)
- Base Reward: 2.00 ETH
- Fee Reward: 2.0567 ETH ($6,017.12), collected from the fees of the 297 transactions included in the block.
This breakdown highlights how transaction fees can significantly supplement the fixed reward for miners, especially during periods of high network congestion.
Technical Block Details
Beyond the financials, a block's header contains crucial cryptographic information that ensures the blockchain's integrity and security.
- Hash: 0xe67...3e06d (A unique fingerprint for this block)
- Parent Hash: 0xee0...ffc5e (The hash of the previous block, linking them together)
- Gas Used: 26,931,627 (89.77% of the block's gas limit)
- Gas Limit: 30,000,000 (The maximum computational work allowed in this block)
- Difficulty: A staggering 8.93535e+15, reflecting the competitive effort required to mine the block at that time.
- Miner Address: 0x1a...5836
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Why Analyzing Historical Block Data Matters
Studying past blocks is not just an academic exercise. It offers practical insights for developers, investors, and analysts.
- Network Health: Metrics like gas usage and difficulty indicate network demand and security.
- Fee Analysis: Historical transaction fees help predict future costs for users.
- Market Context: The USD value of transactions at the time versus their value today reveals market volatility. For instance, the ETH sent in this block was worth over $1.2 million then but would be valued differently in today's market.
Understanding these patterns is key to making informed decisions in the crypto ecosystem.
Frequently Asked Questions
What is a block reward?
A block reward is the incentive a miner receives for successfully validating a new block of transactions and adding it to the blockchain. It typically consists of newly minted cryptocurrency (the base reward) plus the sum of all transaction fees from the transactions included in that block.
Why is the median transaction value sometimes zero?
A median value of 0.00 ETH indicates that over half of the transactions in the block were for values so small they rounded to zero, or were complex smart contract interactions where the primary value transfer was not in ETH itself. This is common and highlights activity beyond simple coin transfers.
What does 'Gas Used' tell us?
Gas Used represents the total amount of computational effort required to process all the transactions in the block. A percentage close to the Gas Limit (like 89.77% in this case) shows the block was nearly full, suggesting high demand for block space at that time, which usually leads to higher transaction fees.
How can I use a blockchain explorer?
You can use a blockchain explorer to track transactions, check wallet balances, verify contract deployments, and analyze network statistics. Simply enter a transaction hash, wallet address, or block number into the search bar of any explorer to get detailed, real-time information.
What is an 'Uncle Reward'?
In Ethereum's previous Proof-of-Work system, an "uncle" was a valid block that was mined but not included in the main chain. Miners of these uncle blocks would receive a smaller reward to encourage network participation and security, even if their block was not chosen.
Why does the USD value of the ETH change when looking back?
The USD value recorded at the time of the block's mining is based on the market price of ETH at that specific moment. The "Value Today" is a retrospective calculation using the current market price, demonstrating the volatile nature of cryptocurrency valuations.