I am reading "Mastering Bitcoin" written by Andreas and I found this explanation about "txindex option"
Transaction Database Index and txindex Option
By default, Bitcoin Core builds a database containing only the transactions related to the user’s wallet. If you want to be able to access any transaction with commands like gettransaction, you need to configure Bitcoin Core to build a complete transaction index, which can be achieved with the txindex option. Set txindex=1 in the Bitcoin Core configuration file
I am not sure what situations should I enable the option. In my understanding, I can set
txindex=0 if I use
bitcoind as just a transmission tool of Bitcoin so that I can save data and time to sync the blockchain data. Otherwise, if I intend to make a blockexplore site like Blockchain.info, I need to set
Is my understanding of this correct?