Solscan: A Guide to Exploring the Solana Blockchain

Bittime - Solscan is a blockchain explorer designed specifically for the Solana network. Users can view transaction details, monitor wallet activity, analyze tokens, and get important information regarding the Solana ecosystem. 

Solscan is the top choice for investors, developers, and anyone who wants to understand more about on-chain activity on the Solana network. Read this article to find out more!

How Solscan Works

Solscan allows access to various important information, such as transaction history, wallet balances, as well as smart contract data. Here are some of the main features offered by Solscan.

1. Tracking Transaction

With Solscan, users can view all transaction details that occur on the Solana network, including transaction status (successful, pending, or failed), transaction fees, execution time, and the wallets involved in the transaction.

2. Monitor Wallet

With Solscan, users can track data related to certain Solana wallets, such as balance, transaction history, and assets owned. 

This feature is useful for investors who want to monitor portfolio activity or analyze other wallets for investment opportunities.

3. Token Analysis

Solscan also provides in-depth information regarding tokens on the Solana network. Users can view token transaction history, ownership distribution, and whale data. This feature is very useful for understanding market trends and performance of a particular token.

Read Also: 5 Decentralized Exchange (DEX) Solana Teratas

How to Use Solscan to View Wallet Data

To search for information about a wallet on Solscan, follow these steps.

1. Copy Wallet Address: If you want to check your wallet yourself, the wallet address can be found via the wallet application or browser extension.

2. Visit Solscan: Enter the wallet address in the search field on the Solscan site.

3. View Basic Information: At the top of the page, users can see the total balance and number of tokens the wallet holds.

4. Further Data Exploration: Scroll down to view transaction history, NFT and DeFi activity, and associated staking accounts.

How to Use Solscan to View Transaction Details

If you want to know certain transaction information on Solscan, follow these steps.

1. Find Transaction ID: The transaction ID is usually available in wallets such as Phantom.

2. Search on Solscan: Enter the transaction ID into the search field in Solscan.

3. View Transaction Details: Users will see complete information such as wallets involved, transaction time, fees paid, and transaction status.

Read Also: Top 5 Trending Solana Coin Memes: There's BARSIK and PNUT

Data that Can Be Seen on Solscan

When exploring transactions on Solscan, some important information that can be found is as follows.

1. Signature: Unique identity for each transaction.

2. Block: The block number where the transaction was confirmed.

3. Timestamp: The time the transaction was made.

4. Status: Indicates whether the transaction was successful, failed, or is still pending.

5. Signer: The wallet that initiated the transaction.

6. Fee: Fees paid for the transaction.

7. Balance Changes: Changes in balance due to transactions.

How to Use Solscan to View Tokens 

To explore existing tokens on the Solana blockchain on Solscan, follow these steps.

1. Search for Token Name or Symbol: Enter the token name or symbol into the Solscan search field.

2. View Token Information: At the top of the page, users can see the price, market capitalization, and total token supply.

3. Analytics Access: The bottom of the page displays transaction history, token holder distribution, and whale activity.

Read Also: Solana Token Unlock: Will SOL Price Be Bullish or Bearish?

How to Use Solscan for On-Chain Analysis

Solscan is not a trading platform, but can be used for on-chain analysis to make better investment decisions. 

Here are some ways to use Solscan for on-chain analysis.

1. Trend Analysis: See whether transaction volume is increasing or decreasing, and monitor the popularity of DApps and NFTs.

2. Monitor the Whale: Tracks the activity of wallets holding large amounts of SOL to identify patterns that can impact the market.

3. Market Sentiment Analysis: Observe the flow of SOL in and out of exchanges to assess whether market conditions are bullish or bearish.

Solscan Dashboard Analytics 

Solscan provides various analytical dashboards that help users understand Solana network activities, which are as follows.

1. Network Performance: Displays the number of active wallets and transactions per second.

2. Cost Monitor: Provides information on average transaction costs and priority transactions.

3. NFT Dashboard: Displays the trading volume and base price of popular NFT collections.

4. DeFi Statistics: Presents DeFi protocol data on Solana, including active users and total trading volume.

That's the explanation about Solscan, starting from how it works to how to use Solscan. This platform can help users to understand the Solana ecosystem in depth. 

Whether for tracking transactions, analyzing wallets, or understanding market trends, Solscan helps users navigate the blockchain world more easily and informatively.

Read Also: Solana Price Prediction by Ali Martinez: Can it Break $4,000?

Solana FAQs

What is Solana?

Solana is a blockchain designed to support DApps with high speed and low transaction fees. Its advantage lies in the Proof-of-History (PoH) consensus mechanism which allows the network to process up to thousands of transactions per second with high efficiency.

How many Rupiah is 1 SOL?

Currently, 1 SOL is worth IDR 2,056,188 based on the Bittime market. 

1 SOL How much is USD?

Currently, 1 SOL is worth $124.20 according to Coinmarketcap. 

How to Buy Crypto with Bittime

Want to trade sell buy Bitcoins and crypto investment easily? Bittime is here to help! As an Indonesian crypto exchange officially registered with Bappebti, Bittime ensures every transaction is safe and fast.

Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!

Check the exchange rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.

Additionally, visit Bittime Blog to get various interesting updates and educational information about the world of crypto. Find trusted articles about Web3, blockchain technology, and digital asset investment tips designed to enrich your knowledge in the world of crypto.

Reference

Solscan, Solscan Official Website, accessed March 12, 2025.

Koinly, Blog-Solscan Guide, accessed March 12, 2025.

Coinmarketcap, Currencies-Solana, accessed March 12, 2025.

Author: IPR