For anyone using the MultiversX network, verifying transactions on the EGLD blockchain is important. Checking a transaction you have made using a blockchain explorer provides you with transparency about whether the tokens have been sent, you have received the payment, or interacted with a smart contract. As blockchain networks are public and decentralized, every confirmed transaction is recorded permanently and can be viewed by anyone on the network. In this article, we will explain how to verify transactions, common issues during transactions, tips to follow, and important benefits. 

Why Verify an EGLD Transaction?

There are various reasons for verifying EGLD transactions. These include:

Confirm successful transfers 

The most common reason is to confirm that a transaction has been successful. When you send EGLD to another exchange or wallet, the blockchain explorer confirms whether the transaction is complete. 

Identify pending transactions 

There are times when a transaction remains pending before it is confirmed. Using a blockchain explorer, you can check whether it is still being processed or finalized. 

Verify wallet activity 

You can check all incoming and outgoing transactions on your wallet address. This is beneficial for personal account monitoring and record-keeping. 

Improve security 

By verifying transactions directly on the blockchain, users can tackle scams, false payment claims, or fake screenshots. The blockchain is the ultimate source of truth. 

Data Required to Verify a Transaction 

To verify transactions using a blockchain explorer, you should have one of the following pieces of data:

  • Transaction Hash (Tx Hash or Transaction ID)
  • Wallet address
  • Block number
  • Smart contract address

The fastest and most accurate way to verify a specific transaction is the transaction hash. 

Step-by-Step Guide to Verify Transactions 

The steps to follow to verify transactions include:

Step 1- Access the EGLD Blockchain Explorer

Access the official MultiversX blockchain explorer on your web browser. On the homepage, you can find a search bar where you can enter the transaction details. 

Step 2- Enter the Transaction Hash

Enter the transaction hash in the search field and press Enter. In case you don’t have the transaction hash, you can search using your wallet address to check your recent transaction history. 

Step 3- Review the Transaction Status

The blockchain explorer will show success, pending, or failed. A successful status implies the transaction has been permanently recorded on the blockchain. 

Step 4- Check Transaction Details 

Once the transaction opens, review all the available data:

  • Transaction hash
  • Sender address
  • Receiver address
  • Timestamp
  • Block number
  • Amount of EGLD sent
  • Network fee
  • Number of confirmations

Carefully compare these details with the data from your wallet or exchange.

Step 5- Verify Smart Contract Activity 

In case your transaction involves decentralized applications (dApps), token swaps, or staking, the explorer may also show smart contract execution details. These records help understand if contract interactions were completed properly. 

Understanding Transaction Statuses 

Unnecessary concerns can be avoided by understanding what each transaction status means. 

Pending 

This is submitted to the network but not included in a block. Reasons include wallet synchronization delays, temporary network congestion, or validator processing time. After a short period, most pending transactions are confirmed automatically. 

Confirmed 

This indicates that the transaction has been successfully added to the blockchain. Once confirmed, it becomes permanently recorded on the blockchain. 

Failed 

A transaction that did not complete successfully. Reasons include insufficient balance, incorrect transaction parameters, smart contract execution error, or network issues during processing. 

Common Issues During Verification 

The following are some common issues that occur during transactions:

  • Incorrect transaction hash
  • Wallet delay
  • Exchange processing 

Tips for Safe Transaction Verification 

Here are some tips for secure transaction verification:

  • Always verify the transaction through the official MultiversX blockchain explorer
  • Do not forget to save your transaction hash after every transfer
  • Make sure to verify both sender and receiver addresses
  • Compare the transferred amount carefully
  • Never rely solely on screenshots as proof of payment
  • Keep wallet records for future reference

These tips will help reduce mistakes and boost transaction security. 

Benefits of Using the EGLD Blockchain Explorer

Using the EGLD blockchain explorer for verifying transactions ensures the following benefits:

  • Live transaction tracking
  • Transparent blockchain records
  • Access to smart contract data
  • Permanent transaction history
  • Easy verification of wallet activity
  • Improved security against fraud
  • Independent verification without third-party services

The explorer offers you direct access to the transaction data. 

Final Thoughts

Verifying transactions on the EGLD blockchain explorer is a simple process that ensures transparency, accuracy, and security in every transfer. Using the transaction hash or wallet address, investors can quickly access the transaction data to confirm status, review details, and monitor blockchain activity without the help of intermediaries. 

Checking transactions regularly on the blockchain explorer helps boost security as well as give peace of mind while sending or receiving EGLD. Having the skill to verify transactions is very important with the development of blockchain adoption.