What is Solscan?
Solscan is a blockchain explorer for the Solana network that lets you view transaction data. Our guide covers how to use Solscan to view wallets, transactions, and more.
What is Solscan?
Solscan is a powerful and user-friendly blockchain explorer designed specifically for the Solana network. It provides detailed insights into Solana-based transactions, wallets, tokens, and various analytics, making it a valuable tool for investors, developers, and anyone curious about the Solana ecosystem. Whether you're interested in monitoring wallet activity, analyzing on-chain trends, or simply exploring blockchain data, Solscan offers a comprehensive range of features to suit your needs.
How does Solscan work?
Solscan serves as a window into the Solana blockchain, giving you access to essential information such as transaction histories, wallet balances, and smart contract details. Here’s what you can do with it:
Transaction tracking
With Solscan, you can check all relevant details of your transactions, including their status (confirmed or pending), fees paid, timestamps, and more. It’s a handy way to verify and trace any movement of funds on the Solana network.
Wallet monitoring
Solscan allows you to monitor data related to specific Solana wallets, such as balance, transaction history, and asset holdings. This can be helpful for keeping track of your own wallet activity or analyzing others for investment insights.
Token analysis
If you’re interested in tokens on the Solana network, Solscan offers tools to view transaction data, token distribution, and even data on large holders (often called whales). This feature is useful for understanding market trends and assessing token performance.
Read next: Best Solana Wallets
How to look up wallets on Solscan
To investigate a wallet on Solscan, follow these simple steps:
Copy the wallet address: If you want to explore your own wallet, you can find the address through your wallet app or browser extension.
Visit Solscan: Paste the wallet address into the search bar on the Solscan website.
View basic information: At the top of the page, you'll find details like the total balance and the number of tokens held by the wallet.
Explore more data: Scroll down for more in-depth insights, including past transactions, NFT and DeFi activities, and staking accounts.
Read next: How to add Solana to MetaMask
How to look up transactions on Solscan
To get transaction details, here’s what you need to do:
Find the transaction ID: Your wallet (e.g., Phantom) typically provides the transaction ID, which you can copy.
Search on Solscan: Enter the transaction signature into Solscan's search bar.
Review the details: You’ll see comprehensive information about the transaction, including involved wallets, the time it was processed, fees, and more.
What transaction details are on Solscan?
When exploring transactions on Solscan, here are some of the key details you can expect to see:
Signature: The unique identifier for each transaction.
Block: The block in which the transaction was verified.
Timestamp: The exact time the transaction was processed.
Status: Indicates whether the transaction was successful, failed, or pending.
Signer: The wallet that initiated the transaction.
Fee: The cost associated with the transaction.
Actions: Related smart contract activities, if any.
Balance changes: Changes in the token balance for parties involved.
How to look up tokens on Solscan
To explore tokens on Solana’s blockchain:
Search for your token: Enter the name or symbol of the token into Solscan’s search bar. Note that only Solana-based tokens will appear.
View token information: The top of the page displays data like price and market cap.
Access analytics: Further down, you’ll find detailed analytics, including transaction history, large holders, and token distribution statistics.
How to use Solscan for on-chain analysis
While Solscan itself is not a trading platform, it can be an invaluable resource for conducting on-chain analysis and making more informed investment decisions. Here are some examples of how you can use it:
Trend analysis: Gain insights into whether transaction volumes are increasing or decreasing across the Solana network, and track the popularity of decentralized applications (dApps) and NFTs.
Whale tracking: By monitoring the activities of wallets holding large amounts of SOL (often known as whales), you can identify patterns that may influence market sentiment.
Market sentiment analysis: Observe the flow of SOL into and out of exchanges to gauge whether market conditions are bearish or bullish.
Read next: Best Crypto Charts for Analysis
Solscan analytic dashboards
Solscan also provides various dashboards with additional data to enhance your understanding of network activity:
Network performance: Metrics such as active wallets and transactions per second are displayed to help assess the overall health of the Solana network.
Fee tracker: This dashboard reveals average transaction fees and provides information on priority transactions.
NFT dashboard: If you’re interested in NFTs, you can view data like trading volumes and floor prices for popular collections.
DeFi statistics: This section offers information on Solana’s DeFi protocols, including active users and total trading volume.
What alternatives are there to Solscan?
If you’re looking for other Solana blockchain explorers, here are a few alternatives:
Official Solana Explorer: Made by the Solana team, it allows you to track blockchain data but lacks some of Solscan’s user-friendly features.
Solana.FM: Known for its easy-to-navigate interface, Solana.FM is another option for tracking data on the Solana blockchain.
Solscan is more than just a tool for blockchain data — it’s a gateway to better understanding the Solana ecosystem. Whether you’re tracking transactions, analyzing wallets, or studying market trends, Solscan helps demystify the complex world of blockchain and empowers you to make more informed decisions.
Use a Solana portfolio tracker
A Solana portfolio tracker like Koinly can help you easily keep track of your Solana investments, including your transactions, balances, gains, losses, and more. Best of all, it’s totally free to use. Sign up today.
