What Is SolScan and How to Use It?

What Is SolScan and How to Use It
What Is SolScan and How to Use It

Backbone Of Venture Capitalists: SolScan And Its Uses

SolScan is a tool that allows you to go through the information related to certain transactions or tokens on the Solana blockchain. A lot of venture capitalists, like Solana Ventures and Alameda Research, have trusted SoIScan for a long time now. Additionally, there are over 2 million monthly users, cumulative of over 180 million data requests.

Several enthusiasts are aware of Etherscan which is referred to as Ethereum blockchain explorer, where you can find all the tokens on the Ethereum blockchain.

Besides, there are many blockchain protocols witnessing a tremendous growth in terms of adoption. In order to know the status of the Solana blockchain, SolScan is one of the best choices. Here, in this article, we will briefly explore what SolScan is and how to use it.

What is SolScan?

What is SolScan

SolScan is said to be a data analytics platform to conduct a research on certain information related to the Solana blockchain. Notably, Solana has its own blockchain-based explorer which is considered an official explorer of the Solana blockchain. However, SolScan turns out to be an extremely prominent alternative to Solana. 

With the help of SolScan, it becomes possible to keep a check on the data related to the transactions on the blockchain. Owing to its many different numbers and long codes, a blockchain seems confusing, but with the assistance of SolScan, it becomes a lot easier. SolScan allows you to have an access to each activity on the Solana blockchain. Besides, you can not only keep an eye on each transaction but also the smart contracts, blocks and tokens on the blockchain.

SolScan account

SolScan account

Are you looking for the advantages of SolScan? Well, one of the advantages of SolScan is that it is absolutely free to use for anyone. You don’t even have to create an account to have a look at the blockchain. However, you can create an account as well. If you are using an account, then you can get an improved functionality and then you will be able to have a look at your own transactions.

For a feasible use of SoIScan, it is important to have some blockchain explorers. And why not? A blockchain is exactly what you use for the transactions. It can be easily tracked with the help of an explorer. Even if you are confused if you have made the transaction successfully or if you are not able to see the balance properly, you can use SoIScan to find out about what is happening.

Since the Solana ecosystem includes various decentralized applications (DApps), there are a few applications that can work as an alternatives. Especially when you are busy or you are facing an issue with the Solana blockchain, SoIScan can be useful to have a scanning tool for the whole ecosystem. SolScan is actually created for the Solana blockchain and it provides users with an ability to conduct a thorough research about the entire ecosystem on the blockchain.

While the blockchain technology has emerged as a new territory for a lot of people and it may be a bit quite difficult to use, the crypto companies often make a layout as simple as possible. This is just like SolScan. Notably, the layout of SolScan is considered to be very similar to that of EtherScan which is said to be the blockchain explorer of the Ethereum blockchain.

Ethereum’s existence has been proven as it has been in business for a long time now. It is ahead in terms of adoption. Likewise, it becomes easy for the users to switch to SolScan.

SolScan features 

The SolScan explorer comes with a lot of features to make sure that an individual can explore the entire blockchain of Solana. At first, the homepage of the SoIScan tool seems very interesting with full of information. You can not only discover the supply of Solana, but also the cryptocurrency of Solana. Additionally, you can also go through how many SOL have been staked and how many transactions have been processed in total.

It is pertinent to mention that not just the homepage is interesting, but also there are several features within the platform that will grab the eyeballs. The sub-headings Analytics and Blockchain allow you to discover various data and statistics.

Besides, there is a DeFi Dashboard among other things. The DeFi dashboard provides you with a better overview of decentralized finance (DeFi) on the Solana blockchain. In the meanwhile, you can even find out the information about staking on SolScan. Be it staking or non-staking, you can get a lot of information about this with the help of SolScan analytics. 

How to use SolScan?

How to use SolScan

Indeed SolScan has a lot of features, but the question that comes to mind is how do you use them? Let’s inform you that the search function for addresses and transactions on the blockchain explorer is one of the most frequently used features. The users often look for information about a significant transaction or a token. Thus, it is logical that these features will come your way.

Once you find out the correct data in the search function, you will be able to view a lot of data, including transaction costs, and wallet addresses among others. In order assist you in understanding SolScan’s most frequently used features, let’s have a look at the activities that revolve around the transactions and addresses.

SolScan transactions

SolScan transactions

On the Solana blockchain, each transaction is registered with a signature on the mainnet of Solana. This signature includes several numbers and letters. These numbers and letter form a long string of both characters. In the meanwhile, you can also copy the given code and paste it on the search bar of SoIScan if you want to know more about a particular transaction.  .

The Blockchain technology is known for its transparency, which is also evident in the Solana transactions. Once you press the enter button, it will redirect you to a menu where you can get all the information related to the transaction.

Notably, the information is further divided into three categories: 

– Overview

– SOL Balance Change

– Token Balance Change 

While clicking on Overview, you can get all the details of the transaction, the other categories provide you with the changes in the balance of both addresses.

SolScan addresses

If you want to find out the history of a particular address, you can get it all by clicking a few buttons. Initially, it is important to discover the correct Solana address. Notably, the code of the address is said to be even shorter than the signature of a transaction. It also consists of both numbers and letters.

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