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How to Use SolScan to Track Cryptocurrencies
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If you own Solana-based tokens, you may have already tried one of its most powerful tools, SolScan. This blockchain explorer lets you track the activities of cryptocurrencies, including transactions, blocks, prices, and more.
SolScan does more than provide information. It simplifies analytics and raw data to help an average user understand what they’re reading. You can also refer to the substantial resources in the documentation section for further assistance.
This article will help you familiarize yourself with SolScan and its useful features.
What Can We Do with SolScan?
Like the Solana explorer, SolScan provides access to all crypto transactions recorded on Solana blockchain. These include block numbers and wallet addresses.
You can also use SolScan to gather other useful information about a cryptocurrency, such as market cap, supply and transaction per section (TPS) rates. The tool is free to use and you can log in with your Solana wallet account. Note that you do not need to have an account to use SolScan, but it helps when you want to track your own transactions.
SolScan lets you search for specific wallet addresses and transactions. If you’re waiting for a contract to finalize you can use this tool to track the process. Keep in mind that SolScan doesn’t report to you if something happens. It only archives transactions - even those that resulted in failure.
Using SolScan to Track Transactions
Every Solana transaction comes with an identifying signature. It’s a long series of numbers and letters, which you can find on your smart contract.
When you make a transaction on Solana, you can keep track of it on SolScan. Simply copy and paste the signature to the search bar and you’ll find all the necessary information about the transaction.
Copy your transaction signature onto the search bar.
Once you hit enter, SolScan will present all the details about the transaction in question, including Overview, SOL balance change and token balance change.
The Overview tab shows you whether the transaction was successful, how long ago it was made and the block number ID. Both of the Balance Change tabs display account balances before and after the transaction.
You can look up wallet addresses the same way you do transactions. Enter an address in the search bar and hit enter. In this case, if we want to take a look at the account involved in the above transaction, we simply click on the series of code next to the Signer entry.
This will take you to the account page where you can see everything about the wallet, including past transactions, SOL balance and even other accounts linked to it.
Using SolScan to Track Crypto and Tokens
Similar to the Solana explorer, you can look up any cryptocurrency or token on SolScan.
Enter any coin in the search bar to check its status. For example, let’s look at how Litecoin is doing.
Select Litecoin (LTC) from the dropdown menu to pull up the overview page.
Here, you can see all the essential information about Litecoin, such as price, total supply, etc. The real useful data here are the LTC transactions as you can see in the tab below.
This section displays all transactions involving Litecoin starting with the most recent. You can see how much was transferred and to which wallet. It even shows how much the fee was charged.
Click on one of these addresses and it will take you to the account page, similar to what we did above. Note that it will still show SOL balances and not Litecoin.
Users can look up tokens by following similar steps. Click on the Token tab on the home page and you’ll see a list of its accessible tokens. Select a token from the list and SolScan will provide an overview similar to the Litecoin page.
Track NFTs with SolScan
If you haven’t already noticed, there’s an NFT dashboard on the SolScan homepage. This section contains all NFTs available on the Solana blockchain.
Click on Visit Dashboard and then the Collections tab.
Here, you can see all the general data of Solana NFTs, such as how large a collection is and how much each one has sold in a 24-hour period.
Click on the Trades tab to see some of the most recent NFT hand-overs with timestamps and price. SolScan also displays the wallet addresses involved in each transaction and from which platform it was made. For example, Magiceden.
All in All
Regardless of how involved you are with Solana or cryptocurrency in general, having access to a convenient tool like SolScan is a must.
New users will no longer need to look up every term or definition when trying to configure their transactions. It’s also faster than most trackers out there and free to use.If you want to invest in cryptocurrency and don't know where to start - join Liquid! Founded in 2014, Liquid is one of the world's largest cryptocurrency-fiat exchange platforms serving millions of customers worldwide.