Understand what Solscan is and how to use it in one article?

Introduction

Openness and transparency are one of the core concepts of the blockchain, and the blockchain browser is an important tool that embodies this concept. Blockchain explorers allow users to track various activities on public blockchains, making these transactions and data viewable by any internet user. With the continuous development of blockchain technology, more and more projects are building on decentralized networks and verifying multiple transactions. Therefore, users need intuitive and granular tools to access this information.

Solscan is a powerful platform that is not only user-friendly but also provides a wealth of information. Through Solscan, blockchain users can easily find various information on the Solana blockchain. This tool is trusted and supported by reputable entities such as Alameda Research and Solana Ventures. This article will detail important information about Solscan and provide guidance on how to make full use of its capabilities.

Solana Overview

Anatoly Yakovenko first proposed the concept of Solana in 2017, an open infrastructure for building scalable applications. As a public blockchain with smart contract capabilities, Solana is committed to creating a scalable, secure and decentralized blockchain. With revolutionary innovations such as Proof of History (PoH) and Delegated Proof of Stake (DPoS), Solana has achieved significant success and is extremely scalable. The ability to process 50,000 transactions per second at extremely low fees is a testament to Solana’s success.

Source: CoinMarketCap

As a platform that is very similar to Ethereum, Solana is widely hailed as the “Ethereum killer”. It has gained immense popularity in the cryptocurrency space and is now the platform of choice for building dApps and NFTs. It currently ranks fourth among cryptocurrencies based on its market cap of $49 billion and total value locked (TVL) of $1.88 billion. Many investors, projects, and cryptocurrency holders are flocking to Solana due to the sustainability and rapid growth of the entire ecosystem. This requires a platform that can reveal all transactions and activities on the blockchain network, and Solscan emerged to meet the market demand.

What is Solscan?

Solscan is a web-based platform designed to provide users with a comprehensive view of all activity on the Solana blockchain. Solscan is developed by the Solana Foundation, a non-profit organization dedicated to developing open source blockchain protocols for decentralized applications. Through Solscan, users can view transactions, accounts, blocks, and tokens on the Solana blockchain. In addition to this, it has a detailed dashboard that provides real-time data on DeFi protocols, NFTs, and other valuable metrics.

Solscan is an open source project that converts complex activity on the Solana network into an easy-to-understand form. It provides a variety of functions that allow users to obtain important information such as contract code, event logs, token holders, transaction details, fund balances, etc.

Additionally, Solscan can identify security vulnerabilities in smart contract activity on Solana. The real-time coverage provided by this platform allows users to monitor their activities, thereby improving auditing and security. Whether you are a cryptocurrency holder, investor, developer, or cryptocurrency enthusiast, Solscan is an essential tool for your exploration needs on Solana.

Features

Solscan provides many features that are extremely valuable to users. Here are some of the most important features:

• Transaction Tracking: Users can track transaction details such as sender, recipient, amount, and transaction time on Solscan.
• Token Tracking: Users can also browse tokens on the Solana network through Solscan. Users can find information about the token on the platform, such as the total supply and the number of tokens owned by each address.
• Address Tracking: All addresses on Solana can also be viewed on Solscan. This includes transaction history and other data associated with the address.
• Validator Information: Solscan also allows users to view validator information such as total number of validators, current uptime, etc.
• Staking information: Information about staking, such as the current staking yield and total staking amount, is publicly visible on Solscan.

Why choose Solscan?

If you have frequent transaction activity on the Solana network or other blockchain networks, it will be helpful to become familiar with a blockchain browser like Solscan. Solscan’s transparency and openness make it easy for anyone to stay on top of what’s going on on Solana. Here are a few reasons why you should consider using Solscan:

• Free to use: Solscan allows free use, and any Internet user can access and use the platform without setting up an account. While registering for an account may provide a personalized experience, all features are available to everyone.
• Clarity: Solscan not only has a simple layout, but also displays all transactions on Solana in a clear way. This tool allows users to easily track token and cryptocurrency transactions and understand the operations of projects hosted on the blockchain.
• Feature-rich: From analytics to token pages, the platform contains all the elements users need to evaluate the Solana network. In addition, the platform also features a DeFi and NFT dashboard that contains important information about the projects.

Benefits of Solscan

With its many unparalleled and powerful features, Solscan is an excellent blockchain exploration tool. Here are the clear advantages of using this platform:

• Competitive tracking tools: Solscan allows users to track specific activities of wallet addresses on a regular basis. This helps track the wallets of profitable traders, giving DeFi users a competitive edge. Additionally, users can view transaction status on Solana to see if the payment was successful and credited to the recipient’s wallet.
• Powerful Analysis: Through continuous synchronization with the Solana blockchain, Solscan provides detailed real-time analysis of all activity on the Solana protocol. This precise and instantaneous analysis provides unparalleled convenience in obtaining important information about the status of the network and its current attractiveness.
• Easy to use: Solscan is designed to be similar to Etherscan, Ethereum’s official blockchain browser, making it extremely easy to use. Its user-friendly design concept allows users to easily master its functions regardless of their technical knowledge. The rich homepage information makes all information about Solana, including key details, available at a glance, greatly improving the accessibility of information.
• Great learning experience: Solscan allows users to explore the Solana network and learn more about blockchain. It showcases all the projects running on Solana and provides an in-depth analysis of the real-time status of the blockchain.
• Security Audit: This platform helps users check the security of their wallets without logging in or having a Solscan account.

Disadvantages of Solscan

Although Solscan has many advantages, there are also some shortcomings that need to be noted:

• Complicated operation for beginners: Although the platform Generally easy to use, but still complex for beginners. Some technical terms and features can only be understood by beginners after learning more about them. Beginners need more time to learn how to navigate online platforms.
• Only for the Solana blockchain: Like other blockchain explorers, Solscan only provides information about Solana network activity. To get information about other blockchain protocols, you need to find their respective blockchain explorers. Since users typically interact with more than one blockchain protocol, this process can be stressful and time-consuming.

How Solscan works

Image source: Pintu

As long as you have ever conducted any transaction on the Solana chain, Solscan You're sure to find the details you need. The platform scans all activity on the Solana network and publishes it on the web interface in real time. All you have to do is enter your query in the search bar and wait a moment before you see all the relevant details.

Source: Solscan

After receiving the query, Solscan will follow the following steps to provide detailed information about the query:

1) Solscan Nodes scan the Solana blockchain and extract data in real time.

2) The extracted data is sent to Solscan’s database where it is organized into a simplified searchable format.

3) Users can use Solscan's web pages to enter queries into its search engine.

4) Solscan converts the query into a machine-readable format.

5) The information is then passed to the backend server where the query is analyzed and the results are converted into a human readable format.

6) The information is then passed to the user interface where it is displayed in an easy-to-understand format.

How to use this tool?

Solscan is a simple and feature-rich tool that provides users with a comprehensive understanding of the Solana blockchain. To get started, go directly to the official website solscan.io.

The following will explain in detail how to explore each function of the Solscan ecosystem:

Use Solscan to track transactions

The most commonly used function on Solscan is the transaction search function . Every transaction processed on Solana has a unique identity signature that users can enter into the search bar. This identity signature is a string of alphanumeric characters that can be found in your smart contract.

To track transactions, enter the unique signature in the search bar on the Solscan home page:

Source: Solscan

After searching for the transaction ID, you will see an interface showing an overview of the transaction, SOL balance changes, and token balance changes. This will display all the information about the transaction including timestamp, fee, signer, etc.

Source: Solscan

Track address activity using Solscan

To identify smart contract activity on a wallet, look for such addresses via Solscan The campaign has proven valuable.

Paste your wallet address into Solscan’s search bar and press Enter to start. You will receive detailed information about your wallet:

Source: Solscan

Track your coins with Solscan

You can also do this on Solscan on tracking tokens. To get started, enter the token name or contract address in the search bar and press Enter.

Here is an example of exploring the WOJAK token:

Source: Solscan

After selecting WOJAK from the drop-down options, the A web page containing token details.

Source: Solscan

For more accurate results, you can obtain a valid coin address at CoinMarketCap or through the coin's official website.

Track NFTs with Solscan

Since Solana has an established NFT marketplace, there are numerous NFTs that can be explored on Solscan. Click the NFT tab on the Solscan homepage to explore NFTs, or use the search bar to search for NFTs you like.

Source: Solscan

You can click on a specific NFT to get details such as address, royalties, current supply, and more.

Source: Solscan

Use Solscan to search the DeFi dashboard

There is also a DeFi tab on the Solscan homepage to introduce the Solana blockchain There are many decentralized exchanges on the market. You can search for available exchanges via the drop-down menu on the DeFi tab.

Source: Solscan

Use Solscan to analyze the Solana blockchain

The platform also includes analytics functionality, allowing users to explore Real-time status of the Solana blockchain, such as Solana active accounts, transactions per second (TPS), stablecoin dashboard, and fee tracker.

Source: Solscan

After hovering over the Analytics tab, you can click Solana Network to explore Solana Analytics. Such as transaction volume per second, number of blocks created, number of active accounts, active wallets, tokens, etc.

Source: Solscan

Alternatives to Solscan

While Solscan is very popular in the Solana community, it is not the only one available in Solana Blockchain browser. For example, Solana has an official explorer that can be used for similar purposes to Solscan.

In addition, Solana has other blockchain explorers, such as Solanascan and Blockchain. The interface layouts of these explorers vary. If you're already used to Solscan, it may take some time to get used to them. One advantage of Solscan is that it is very similar to EtherScan, so if you have been using EtherScan before, switching to Solscan will be a smooth experience.

Why you need a Solscan account

Although you don’t need to open an account to use most of Solscan’s features. But opening an account might take your exploration of Solana to the next level. Here are the reasons why you might consider opening an account:

• Personalized experience: After creating an account, you can save your favorite addresses, contracts, and transactions for quick access. You can also bookmark events to view later.

Source: Solscan

• Enhanced Security: With a Solscan account, you can set up two-factor authentication for your Solana Transactions add a layer of security.
• Real-time monitoring: With a Solscan account, you can access your favorite addresses, tokens, and NFTs without having to search again.
• Detailed Analysis: With Solscan’s detailed interface, you can gain insights into the performance of Solana-based transactions and assets.

Recent Developments

Solscan’s breakthrough developments are quite eye-catching, especially the merger following its acquisition by Etherscan. Together, the two create a platform that provides reliable, neutral, and fair access to blockchain data.

The acquisition, known as a "collaborative merger", is a positive move by the two platforms to innovate and expand existing services. On January 3, 2024, Etherscan announced the news and emphasized that the new team will go all out to improve the access experience of blockchain data.

Source: Etherscan’s In-depth insights and precise analysis demonstrate their professional strength. Their expertise in blockchain data accessibility and user-friendliness is a perfect fit with our mission at Etherscan."

Conclusion

Whether you want to delve deeper into transactions on the Solana network, view the latest NFTs, or verify the wallet address of a new project, the Solana Blockchain Explorer is an indispensable tool for you. Solscan has become one of the most widely used browsers in the Solana ecosystem due to its rich feature set. Therefore, having a clear understanding of Solscan's layout and functionality is crucial for smooth navigation in the growing Solana ecosystem. By providing transparent insights into wallet activity, a user-friendly interface, and real-time monitoring, Solscan has become more than just a tool, it has become an important resource for all Solana enthusiasts.

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