How To Track Chain Data?

Introduction

The blockchain is a shared, immutable ledger, and all transactions on it can be traced back through the on-chain browser. The following will take Etherscan as an example to show you how to query data on the chain.

Etherscan is a blockchain explorer for the Ethereum network. The site allows you to search for transactions, blocks, wallet addresses, smart contracts, and other on-chain data. It is one of the most popular Ethereum blockchain explorers and it is free to use. Let's take a look at the basic usage of Etherscan and how to trace the address.

How to check chain activity with Etherscan

To use Etherscan, you need to paste your wallet address, transaction ID (TXID), smart contract address, or other identifier into the search field. The information you see will depend on what you're looking at, but most information will include the transaction address, timeline, and amount involved.

Using Etherscan can help you understand how to interact with blockchains, other wallets, and DApps. This information can also help you check on-chain behavior security and detect suspicious behavior.

1. View ETH and Token wallets on Etherscan

Suppose you want to check the ETH wallet address: 0x8ccf5cb5342ab0d2cc9a7e7238d60ec3c84e3495. All you need to do is paste that address into Etherscan.io's search bar and press Enter to get results like this:

The information contains:

● ETH BALANCE : ETH account of this wallet

● ETH VALUE : value converted from ETH → USD

● Transactions Hash: It is the transaction hash code, and each transaction has a unique hash code.

● Block: The block location in the blockchain that processed your transaction.

● Age: Transaction time.

● From: The address of the sending wallet.

● To: The address of the receiving wallet.

● Value: The value of the transaction.

● Txn Fee: The fee paid by the sender.

To check information about ERC20 token transactions, you have to select the ERC20 token Txns:

After making a transaction and the transaction appears in the transaction list, you can rest assured that the transaction has been completed.

2. Check the transaction code Txn Hash

To view TxHash information, you can enter TxHash in the search box or click the link in the TxHash column:

● Status : transaction status notification. Success means your transaction is complete.

● Block : The block number that contains this transaction. A completed transaction is when there is at least 1 confirmation block, if it has a value of 0, the transaction is still pending.

● Timestamp : The time when the transaction was executed.

● From: The address of the sending wallet.

● To: The address of the receiving wallet.

● Value: The transaction value expressed in ETH and converted to USD.

● Transaction Fee: transaction fee paid by sender.

Track Address Behavior

Etherscan allows you to receive the cryptocurrency transfer information of the concerned address in the first time. You can also check how a project's founders are using their tokens, which can help you spot potential rug pull.

First, you need to register an Etherscan account. This step can be completed with email.

Next, please select "Profit" – "Watch List" – "Add", and enter the address you want to track.

When there is any transfer operation on this address, you will receive an email reminder. Of course, you can also customize the notify range. For example: only notify on incoming tokens, or notify on his NFT transaction, etc.

how to track address

1. The uniqueness of the wallet address

After creating an ETH wallet, a 42-bit string starting with 0x will be generated, which is the wallet address. The wallet address is unique and cannot be modified. That is to say, the transfer and payment addresses of all tokens in a wallet are the same.

Since the blockchain is decentralized, all transaction records of the address can be queried. Just imagine, in the future, you use Bitcoin to buy a box of milk in the supermarket, then the supermarket will know that the owner of this address is you.

2. Giant whale announces its address

In October 2018, Vitalik released its own Ethereum wallet , and you can trace Vitalik's account wallet on Etherscan .

3. Case: Wintermute’s hacking incident and the return of V God to OP

On June 9, 2022, hackers stole 2million Optimism (OP) tokens from Wintermute and sent 1 million to the wallet address of Vitalik Buterin, Ethereum co-founder.

Digging the on-chain data, we can find the following support .

After receiving 1 million OPs, Vitalik transferred 1 million OPs to the Optimism Foundation.

Summarize

The development history of Web2 shows that data has become one of the most important resource of production. Digging valuable information from the chain is your first step towards a higher-level investor.