How does a blockchain explorer benefit users?

A blockchain explorer provides significant benefits to users by offering insights into the blockchain's status, which is crucial for anyone looking to understand the ecosystem better. This type of tool allows users to view real-time data on transactions, blocks, and addresses within a blockchain network.

Through a blockchain explorer, users can see how many transactions have been confirmed, monitor the status of their own transactions, find details such as transaction fees and confirmations, and explore the overall health of the network. This transparency enhances trust and clarity in how the blockchain operates, enabling users to make informed decisions.

The other options do not accurately reflect the primary benefits of a blockchain explorer. For instance, trading volume analytics are typically provided by exchanges, and creating new transactions is done through wallets, not explorers. Additionally, tracking user passwords is unrelated to blockchain explorers and poses significant security risks. Thus, the ability to check the blockchain's status truly encapsulates the primary function of a blockchain explorer.