What is On-chain Data?

Transactions serve as the backbone of blockchain activity, meticulously recording the movement of on-chain assets between wallet addresses, with each transaction meticulously logged onto the blockchain. These transactions, aggregated into blocks, undergo verification before being seamlessly integrated into the blockchain. However, with the sheer volume of data generated by these transactions, navigating the blockchain landscape can be daunting. 

A blockchain explorer is like a search engine for the blockchain, allowing users to locate specific information on transactions, network metrics, and address activities, making it possible to unravel the complexities of blockchain data. In this blog post, we'll look at the three foundational categories of data—raw, decoded, and enriched—that empower blockchain explorers like Chainlens.

Raw Blockchain Data: The Foundation of Exploration

At the core of every blockchain explorer lies raw blockchain data. This foundational data, sourced directly from blockchain nodes, comprises the essential elements such as blocks and transactions. It's the raw material upon which all subsequent analysis and exploration are built.

In its unprocessed form, raw blockchain data provides a snapshot of the blockchain's state at any given moment. Through JSON-RPC calls like `eth_getBlockByHash` and `eth_getTransactionByHash`, this data is retrieved and serves as the basis for further indexing and exploration within the Chainlens platform.

Decoded Blockchain Data: Unveiling the Magic Behind Transactions

Transitioning from raw data to decoded data marks the beginning of truly understanding the blockchain's operations. Decoded blockchain data reveals the inner workings of transactions and smart contracts, shedding light on their outcomes and functionalities. This information can be easily viewed using the Chainlens Explorer.

Chainlens EVM Explorer Tokens View

Decoding transaction payloads is a pivotal step in extracting meaningful insights. For instance, decoding transaction payloads associated with smart contracts allows users to understand the outcomes of specific transactions. Whether it's tracking token transfers or deciphering complex smart contract interactions, decoded blockchain data provides crucial insights into the blockchain's functionality.

Furthermore, Chainlens facilitates the understanding of internal transactions, where smart contracts invoke transactions on other contracts. This additional layer of decoding enables users to grasp the intricacies of smart contract interactions, contributing to a comprehensive view of blockchain activity.

Enriched Blockchain Data: Enhancing Insights with External Sources

Enriched blockchain data elevates exploration by integrating external sources to provide deeper insights into on-chain assets. Chainlens leverages various off-chain data sources, including:

  • NFT metadata and associated images hosted on IPFS and other content delivery networks (CDNs)
  • Pricing data sourced from data providers, exchanges, and NFT marketplaces
  • Sourcify, which offers verification data on Solidity smart contracts
  • Bytecode data for method and event signatures on unverified contracts

By incorporating these external sources, Chainlens enriches the user experience, offering a comprehensive understanding of on-chain assets and activities. From verifying smart contracts to providing context for token transfers, enriched blockchain data enhances exploration and analysis within the Chainlens platform.

Unlock the Power of Chainlens Explorer

Ready to uncover the full potential of blockchain data? Experience the capabilities of Chainlens EVM Explorer firsthand by booking a demo and claiming your free trial. With high-quality raw, decoded, and enriched blockchain data at your disposal, navigating the complexities of the blockchain has never been more accessible.

Embark on your journey through blockchain data with Chainlens Explorer. Book your demo now!

*Note: For further insights into the contract verification process, refer to our recent post on source code verification in Ethereum.*

News & Insights