What Is Solscan and How to Use It?

As a Solana Solscan, the ‘on-chain search engine’ of the ecosystem, has become the preferred tool for over 2 million users due to its professionalism and ease of use. Whether it’s tracking transactions, analyzing tokens, or monitoring the dynamics of the DeFi and NFT markets, Solscan can provide real-time, transparent data support. This article will systematically analyze its core functions and operational logic, helping you quickly grasp the essence of this blockchain explorer.

Solscan’s core functionality positioning

Solscan is a blockchain browser designed specifically for the Solana network, with features covering transaction tracking, address analysis, token verification, NFT monitoring, DeFi data dashboard, and more. Similar to Etherscan for Ethereum, it visualizes complex on-chain data to reduce user comprehension barriers. For example:

• Transparency of transactions: Each transaction is uniquely identified by a signature, allowing users to accurately check the transaction status, fees, and participant addresses.
• Multi-dimensional analysis: Provide a real-time network status dashboard, including key indicators such as transactions per second (TPS), total staking amount, number of active accounts, etc., to help users grasp the overall trend of the ecosystem.

Basic Operation Guide: Full Chain Tracking from Trading to Tokens

Transaction query: The core steps to verify on-chain activities

• Enter the transaction signature: Paste the transaction hash value (usually 80-90 characters) in the search bar on Solscan homepage to view the timestamp, fee, signer address, and block information of the transaction. If it shows a ‘Success’ status, it means the transaction has been successfully added to the chain.
• Interpreting the data dashboard: In the transaction details page, users can track the flow of funds and token transfer records through the SOL balance change and token balance change tabs.

Address Monitoring: Key to Understanding Wallet Dynamics

• Enter Wallet Address: Enter the Solana address in the search bar to view the real-time balance, token holdings, and historical transaction records of the address. This function is particularly useful for verifying the project party’s fund movements or monitoring high-risk addresses.

Token verification: Essential skill to avoid risks assets

• Contract Address Query: Enter the token contract address to obtain data such as total supply, coin distribution, market liquidity, etc., assisting users in identifying fraudulent projects such as “Pixiu Plate”.
• Token Comparison Analysis: Users can evaluate the token’s trading volume and liquidity depth on decentralized exchanges (such as Raydium, Orca) through the market overview and DeFi activity tabs.

Advanced Feature: Unlock Eco-Analysis and Investment Decisions

Insights into the NFT and DeFi markets

• NFT Bulletin Board: Click on the NFT Rankings on the homepage to view the floor price, trading volume, and minting dynamics of popular NFT collections (such as DeGods) in the Solana ecosystem, and directly jump to trading platforms like Magic Eden.
• DeFi Data Aggregation: Through the DeFi navigation tab, users can monitor the total value locked (TVL), 24-hour trading volume, and liquidity pool distribution of mainstream protocols (such as Raydium, Orca), identifying high-yield mining opportunities.

Network health assessment

• Real-time Network Metrics: On the Analysis > Solana Network page, you can view data such as TPS, active account numbers, block generation speed, and assess network congestion. For example, if TPS remains below 3,000, it may indicate a decline in network performance.
• Staking and Validator Analysis: Through the staking dashboard, users can evaluate the staking yield, normal operation time, and commission rate of the validator nodes, optimizing the staking strategy.

Three strategies to improve query efficiency

• Accurate search: prioritize using contract addresses or transaction hashes to avoid misjudgment due to token name duplication.
• API Integration: Developers can use Solscan’s public API to access on-chain data and integrate it into custom applications to achieve automated monitoring.
• Account registration: Although basic functions do not require logging in, registering an account can unlock advanced features such as personalized dashboards and trading alerts.

Risk Avoidance Guide

• Verify the source of the data: the token contract address needs to be confirmed through official project website or authoritative platforms such as CoinMarketCap to avoid phishing links.
• Beware of network delays: if the transaction status shows “pending” for a long time, it may fail due to insufficient Gas fees or network congestion. It is recommended to resend a small test transaction.

Although Solscan is the benchmark tool of the Solana ecosystem, users can also cross-verify with Solana Explorer (official browser) or Solanascan, especially suitable for developers to debug smart contracts on the test network (Testnet). In addition, by integrating market data from CoinGecko or DEX Screener, a more comprehensive investment analysis framework can be constructed.

Conclusion: Essential Skills for the Transparent Era on the Chain

Solscan is not just a technical tool, but also a user participation platform Web3 The ‘data passport’ of the ecosystem. By proficiently utilizing its multi-dimensional functions, investors can penetrate market noise and make rational decisions based on on-chain facts. As Solana co-founder Anatoly Yakovenko said, ‘The value of blockchain lies in verifiable transparency, and the significance of tools is to empower every participant with this power.’