Dynamite

Dynamite is the strongest of all Explosive Consumables, destroying a great area when thrown, which means it's often the weapon of choice for griefers. Dynamite can destroy almost any known block, exceptions being Dungeon Bricks and Hellstone. At point blank range, dynamite causes a total of 500 damage.

Dynamite may be found in chests or bought from the Demolitionist.

Mining meteorites
Dynamite works exceptionally well for mining meteorites. 1-3 dynamite strategically placed will mine 80-90%, if not all, of the meteorite. This will instantly stop more Meteor heads from spawning and allow you to safely mine the remaining ore with your pickaxe.

Blast Mechanics
Dynamite has a blast radius of 14 ft (7 blocks). Blast power is not affected by intervening material, it will destroy every block and wall it can destroy within a 14 ft radius.