Cryptocurrency transactions are recorded on a public blockchain so that users can easily check, verify, and monitor transfers. If you use or own EGLD, the native cryptocurrency of the MultiversX blockchain network, you can track transactions using blockchain explorers. Once you learn how to track EGLD transactions, you can check wallet activity, confirm a payment, or monitor the status of a transfer without any hassle. This article explains what EGLD transactions are, why it is important to track EGLD transactions, and more.
What is EGLD?
EGLD is the native cryptocurrency of the high-performing blockchain platform, MultiversX, developed to support fast transactions, scalability, and low cost. Initially launched as Elron, this network aims to boost blockchain efficiency using technologies like Adaptive State Sharding and Secure Proof of Stake (SPoS).
This crypto token serves various functions within the ecosystem, such as paying transaction fees, sending and receiving payments, interacting with decentralized applications (dApps), and staking. All EGLD transactions are recorded on the blockchain. As blockchain records are transparent, anyone can view the transactions using a blockchain explorer.
Why Track EGLD Transactions?
Tracking EGLD transactions can be helpful in many ways.
1. Confirm transaction status
You can use a blockchain explorer to check if the EGLD transaction you made was successful, failed, or pending. In this way, you can easily confirm transaction status.
2. Verify payments
Individuals and businesses can use transaction tracking to ensure that a payment has reached the correct wallet address.
3. Monitor wallet activity
Using tracking tools, users can easily view incoming and outgoing transactions. This makes management of crypto holdings simple.
4. Improve Security
By regularly checking wallet activity, users can identify suspicious movements or unauthorized transactions.
What is an EGLD Blockchain Explorer?
An EGLD explorer is an online tool that allows traders to check data stored on the MultiversX blockchain. This tool acts as a search engine for blockchain information. You can use an explorer to search transaction hashes, EGLD wallet addresses, validator information, block numbers, and smart contract activity. This blockchain explorer shows publicly available blockchain records without needing access to private wallet data.
How to Track EGLD Transactions?
Here is how you can track EGLD transactions:
Step 1- Find Your Transaction Hash
The first step is to find the transaction hash, also known as the transaction ID or TX hash. The platform usually gives this unique identification number when you send EGLD from a wallet or an exchange. This ID can be found in your exchange withdrawal records, wallet transaction history, or payment confirmation messages.
Step 2- Open an EGLD Blockchain Explorer
Access an official MultiversX blockchain explorer or a trusted EGLD explorer that can be used to check transaction records by providing your transaction details. You can search using transaction hash, block number, or wallet address.
Step 3- Enter the Transaction Hash
Copy and paste your transaction hash into the explorer’s search bar. Once you search, you will get detailed information about your EGLD transaction.
Information Available on an EGLD Transaction Page
An EGLD transaction explorer offers many important pieces of information. These include transaction status, sender and receiver addresses, amount transferred, transaction fees, block information, and timestamp.
How to Track EGLD Wallet Activity?
To track EGLD wallet activity, follow these steps:
- Copy the EGLD wallet address
- Paste it into an EGLD blockchain explorer
- Check the wallet balance and transaction history
A wallet tracking page will show the current EGLD balance, token activity, incoming transactions, outgoing transfers, and staking information.
Common Reasons for Delay in EGLD Transactions
Though EGLD supports fast transactions, delays can sometimes happen. The reasons include:
- Periods of high network activity
- Cryptocurrency exchanges require additional processing time before broadcasting the transaction
- Sending EGLD to the incorrect wallet address can lead to permanent loss of funds because blockchain transactions are irreversible
Can You Track Someone Else’s EGLD Transaction?
Yes, this is possible because blockchain transactions are public. If users have the transaction hash or wallet address, they can easily view EGKD transaction details. That being said, blockchain explorers only reveal wallet addresses and transaction data. They do not show the personal data of a wallet owner unless it is publicly linked to an identity.
EGLD Transaction Tracking vs Bank Transfers
Bank transfers are managed by financial institutions, while EGLD transactions are recorded on a decentralized blockchain. Using EGLD, records cannot be easily altered, transactions can be viewed publicly, users do not need permission from a bank, and tracking is available 24/7.
Conclusion
For anyone using the MultiversX blockchain platform, tracking the EGLD transaction is simple and beneficial. Users can access an EGLD blockchain explorer to verify payments, check transaction status, understand how crypto moves across the network, and monitor wallet activity. Whether you are a new trader or a professional, learning how to track EGLD transactions will help you stay informed, boost security, and handle your digital assets more effectively.