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What Is SolScan/ And All About Blockchain And The Best Way On How to Use It?

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Solscan is a user-friendly and real-time update Scanning Tool for the Solana Ecosystem. Solscan is a scanning tool that tracks all of Solana and Solana-related token transactions. It provides users with all the information on SOL and Solana-based tokens.

What Is SolScan

Open up the collection for your NFT in the marketplace. Select one of the verified NFTs and grab the token address. On Digital Eyes this is the public key in the URL (if you don’t see it in the URL, hit the “Copy Link” button in the top left and paste that into the URL bar). Lookup the token in Solscan.

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Solscan’s developers established the framework as an independent platform with the objective of facilitating transparency in the Solana blockchain. Like Ethereum, Solana has a public ledger that is indexed by Solscan.io and then searchable in what it thinks is the most transparent.

Solscan.io is neither a wallet service provider nor a trading platform. It doesn’t require the storage of personal keys. No transactions are made on Solana via Solscan.io. It’s not responsible for any unresolved transactions on the blockchain. It’s mainly designed for transparency.

What Is SolScan

SolScan is an alternative Solana blockchain explorer. It gives you access to blockchain data regarding transactions, contracts, accounts, and more. If you regularly use Solana or do any troubleshooting, understanding how to use a blockchain explorer is extremely useful.

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SolScan also has DeFi and NFT dashboards and an analytics platform to browse. You can also use their API to create customized feeds for yourself. All of these are found in the header of the website.

Solana is a Proof of Stake (PoS) blockchain where project developers can build DApps, tokens, and smart contracts. Like any other active chain, users need an intuitive way to access the blockchain data. Similar to BscScan and EtherScan, Solana also has a dedicated block explorer called SolScan. Let’s run through its most important features and a few basic tutorials.

SolScan is a blockchain explorer used to search through information on the Solana blockchain. It’s a popular alternative to the official Solana explorer. SolScan turns complex transactional data into something that can be easily read. The block explorer provides access to anything recorded on-chain, including crypto transactions, addresses, smart contracts, blocks, tokens, and more. It’s free to use and doesn’t require an account, but you can create one and log in for enhanced functionality.

Why should I use SolScan?

Using a blockchain explorer is essential for anyone transacting with a network. If you aren’t sure where your staked funds have gone, or perhaps a transaction is still pending, you can use SolScan to find out what’s happened. All information on SolScan comes directly from the Solana blockchain, so you can be sure it’s accurate. Using SolScan or any blockchain explorer will help you understand the mechanics of DApps you interact with and the transactions you make.

SolScan uses the same format as EtherScan, making it easier to understand. Many users prefer its layout to SolScan’s official explorer. It’s all free to use and contains several useful tools, lists, and analytical graphs. The explorer also contains a set of public APIs that can leverage real-time data from SolScan into custom, third-party applications, and tools.

How to look up transactions and addresses on SolScan?

One of SolScan’s most-used features is the search function for transactions and addresses. With the correct hash, you can quickly access a large amount of information. This includes transaction fees, confirmations, timestamps, addresses involved, and more.

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Transactions

  1. Every Solana transaction is recorded on the Solana mainnet with a signature. This is a long string of numbers and letters that looks like this: 5JLcGJQfZjEEuh1bSDqyw2iEfLuFRoYRJY1paoSwrZC8c8zZFW3VqvxsJgjW3bsUjTrpEUDEtvs83PxsuR6hUWqz
  2. Copy and paste the signature into SolScan’s search bar and hit enter.
  3. You’ll now see all available information about the transaction you searched. This is divided into three categories: [Overview], [SOL Balance Change], and [Token Balance Change].
  4. The [Overview] category will have most of the details you need. Let’s go through the list:
  5. For further information, the [SOL Balance Change] and [Token Balance Change] tabs provide data on the transaction’s token balance changes for all parties involved.

Addresses

A similar method can be used to find out more about an individual address. You can then check a detailed history of the address’s activities. This can give you an overview of the transactions and smart contract interactions of a particular wallet.

  1. Find the Solana address you want to look at. It’s shorter than a signature and looks something like this: 138KHwTqKNWGLoo8fK5i8UxYtwoC5tC8o7M9rY1CDEjT
  2. Copy and paste the address into SolScan’s search bar and hit Enter.
  3. You’ll now see all available information about the account you searched for. The [Overview] section shows current account balances, while the bottom tabs deal mainly with transaction history.

About Blockchain

A blockchain is a distributed database that is shared among the nodes of a computer network. As a database, a blockchain stores information electronically in digital format. Blockchains are best known for their crucial role in cryptocurrency systems, such as Bitcoin, for maintaining a secure and decentralized record of transactions. The innovation with a blockchain is that it guarantees the fidelity and security of a record of data and generates trust without the need for a trusted third party.

One key difference between a typical database and a blockchain is how the data is structured. A blockchain collects information together in groups, known as blocks, that hold sets of information. Blocks have certain storage capacities and, when filled, are closed and linked to the previously filled block, forming a chain of data known as the blockchain. All new information that follows that freshly added block is compiled into a newly formed block that will then also be added to the chain once filled.

A database usually structures its data into tables, whereas a blockchain, like its name implies, structures its data into chunks (blocks) that are strung together. This data structure inherently makes an irreversible time line of data when implemented in a decentralized nature. When a block is filled, it is set in stone and becomes a part of this time line. Each block in the chain is given an exact time stamp when it is added to the chain.

Blockchain Decentralization

Imagine that a company owns a server farm with 10,000 computers used to maintain a database holding all of its client’s account information. This company owns a warehouse building that contains all of these computers under one roof and has full control of each of these computers and all of the information contained within them. This, however, provides a single point of failure. What happens if the electricity at that location goes out? What if its Internet connection is severed? Therefore, what if a bad actor erases everything with a single keystroke? In any case, the data is lost or corrupted.

What a blockchain does is to allow the data held in that database to be spread out among several network nodes at various locations. This not only creates redundancy but also maintains the fidelity of the data stored therein—if somebody tries to alter a record at one instance of the database, the other nodes would not be altered and thus would prevent a bad actor from doing so. If one user tampers with Bitcoin’s record of transactions, all other nodes would cross-reference each other and easily pinpoint the node with the incorrect information. This system helps to establish an exact and transparent order of events. This way, no single node within the network can alter information held within it.

In Conclusion

Because of this, the information and history (such as of transactions of a cryptocurrency) are irreversible. Such a record could be a list of transactions (such as with a cryptocurrency), but it also is possible for a blockchain to hold a variety of other information like legal contracts, state identifications, or a company’s product inventory.

However, if there is anything you think we are missing. Don’t hesitate to inform us by dropping your advice in the comment section.

Either way, let me know by leaving a comment below!

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