When you are looking for information about certain transactions or tokens on the Solana blockchain, SolScan is the tool to use for this purpose. This tool is trusted by many venture capitalists, such as Solana Ventures and Alameda Research. In addition, there are over 2 million monthly users, totaling over 180 million data requests.
Most crypto enthusiasts know Etherscan, the Ethereum blockchain explorer, where you can, for example, find all tokens on the Ethereum blockchain. In addition to Ethereum, there are several blockchain protocols that are experiencing tremendous growth in adoption, including Solana. To find out what’s going on at the Solana blockchain, you can check out SolScan. Therefore, in this article, you can discover everything about SolScan.
What is SolScan?
SolScan is a data analytics platform for researching certain information on the Solana blockchain. Solana has its own blockchain explorer, the Solana explorer, which counts as the official explorer of the Solana blockchain, but SolScan is an extremely popular alternative to it.
Through SolScan, it is possible to easily view the transaction data on the blockchain. Because of the many different numbers and long codes, a blockchain can sometimes look confusing, but through SolScan, it is a lot easier. Through SolScan, you have access to everything that happens on the Solana blockchain. You can view transactions but also smart contracts, blocks and tokens on the blockchain.
SolScan account
Looking for SolScan benefits? One advantage of SolScan is that it is completely free to use for anyone. Also, you do not need to create an account to take a look at the blockchain, but it is possible to create an account. Using an account will provide enhanced functionality, you can easily view your own transactions, for example.
Solana ecosystem scanning tool
For ease of use, it is very important to have blockchain explorers. After all, a blockchain is used for transactions, which can be easily tracked through the explorer. If you are not sure if a transaction was completed successfully or your balance is not displayed properly, you can discover what is going on via SolScan, for example.
Because the Solana ecosystem consists of various decentralized applications (DApps), there are an enormous number of applications that people can use. Especially during busy periods or when a problem has occurred with the Solana blockchain, it can be useful to have a scanning tool for the entire ecosystem. Because SolScan is made for the Solana blockchain, SolScan gives users the ability to examine the entire ecosystem on the blockchain.
Considering blockchain technology is new territory for many people and can be quite difficult to use, crypto companies often try to make the layout as simple as possible. This is also the case with SolScan. The layout of SolScan is very similar to that of EtherScan, the blockchain explorer of the Ethereum blockchain. Because Ethereum has been around a lot longer and is ahead in terms of adoption, it is easy for users to make the switch to SolScan.
SolScan features
The SolScan explorer has a lot of features which ensure that you can explore the entire blockchain of Solana. First of all, the homepage of the tool is already a very interesting page full of information. For example, here, you can discover the supply of Solana (SOL), the cryptocurrency of Solana. In addition, you can see how many SOL are staked and how many transactions have been made in total.
However, it’s not just the homepage that is interesting: There are several features within the platform in addition. Under the headings Analytics and Blockchain, you can discover various figures and statistics, which we will come across in more detail later in this article.
In addition, among other things, there is a DeFi Dashboard, where you can get a better overview of decentralized finance (DeFi) on the Solana blockchain. You can also find out about staking on SolScan. From staking to unstaking, you can find a lot of information about this through SolScan analytics.
How to use SolScan?
So, SolScan has several features, but how do you use these features? On the blockchain explorer, the search function for addresses and transactions is the most frequently used feature. People are often looking for information about a particular transaction or token, so it is logical that these features pop up.
By entering the correct data in the search function, you can quickly and easily view various data such as transaction costs, wallet addresses and much more. To help you understand SolScan’s most frequently used features, we highlight the activities around transactions and addresses below.
SolScan transactions
Each transaction on the Solana blockchain is registered with a signature on Solana’s mainnet. This signature consists of several numbers and letters, which together form a long string of both characters. Want to know more about a particular transaction? Copy the given code and paste it into SolScan’s search bar.
Blockchain technology stands for transparency, which is evident in the transactions on Solana. Pressing enter will then take you to a menu, where you can find all the information about the transaction. This information is divided into three categories:
Overview
SOL Balance Change
Token Balance Change
When you click on Overview, you can find all the interesting details of the transaction. Here, you can think of the block code, fees, date and time and any added notes. The other categories show the changes in the balance of both addresses between whom the transaction has taken place.
SolScan addresses
If you want to find out more about a particular address, it works pretty much the same way as with transactions. In fact, if you want to discover the history of a particular address, you can find these historical activities with a few clicks of a button.
First, it’s important to find the right Solana address, the one you want to know more about. The code of the address is a lot shorter than the signature of a transaction, but it also consists of both numbers and letters. By copying this code and then pasting it into SolScan’s search bar, you can find a listing of the address in question.
How to find tokens on SolScan?
If you want to find tokens on the blockchain explorer SolScan, you can also use the search bar. This multi-purpose search function works just as easily when finding tokens as it does when finding information about transactions and addresses.
If you want more information about tokens on the Solana blockchain, you can enter the token address of a token in SolScan’s search bar. Often, you can find the token address of a token on the website or through social media channels. If this fails, you can also often find it on websites such as CoinGecko and CoinMarketCap.
Who should use SolScan?
The Solana community can use SolScan to access the important data here. When you have problems with or questions about transactions, it is very convenient to consult SolScan. For example, when you are uncertain about a transaction, the information from SolScan can be a great help. Especially when it comes to large amounts, it is a pleasure to know what is going on with a transaction.
Sometimes it takes a while for your crypto to arrive in your wallet, or it appears that the transaction has yet to be completed. If you want to avoid these problems, you can send a small amount first, to test if everything goes well with the transaction. Of course, this is not a 100% guarantee, but this is the way mistakes can be avoided.
SolScan alternatives
Among many users of the Solana blockchain, SolScan is a widely used tool. However, there are several blockchain explorers that might suit you better. For example, there is an official Solana blockchain explorer. SolScan is an alternative to this but is not the only one in this.
Besides SolScan, tools like Solanascan and Blockchair are also blockchain explorers, which operate on the Solana blockchain. These Solana explorers have a different layout. If you like to use EtherScan for the Ethereum blockchain, the transition to SolScan is a lot easier in this case.
Today, Tulip Protocol made the announcement that they have integrated Chainlink Price Feeds in order to better secure their yield aggregating platform that is running on the Solana mainnet. The team had previously stated their intention to integrate Chainlink Price Feeds, and at this point, the connection has been completely put into action. Chainlink is the premier decentralized oracle network in the world, safeguarding tens of billions of dollars in smart contracts. It has diversified its offerings across other blockchains, notably Solana, Fantom, Polygon, BNB Chain, and others.
In a recent blog post, the team behind the Tulip Protocol explained that they had integrated Chainlink to provide users with more confidence that leveraged positions will be liquidated equitably using extremely accurate price data and that the protocol will continue to be completely collateralized at all times.
According to Tomasz Wojewoda, Head of Global Sales at Chainlink Labs:
“We’re pleased that Tulip Protocol has integrated Chainlink Price Feeds on Solana, helping secure its yield aggregation protocol with highly robust, decentralized market data. With the high-throughput performance of Solana and the strong security guarantees of the Chainlink Network, Tulip Protocol is able to empower users with a performant and secure platform.”
Tulip Protocol Seeks To Take Advantage Of Solana
Tulip Protocol brings together lenders who receive a return on their deposits and borrowers who are interested in gaining access to leverage. Users who initiate leverage positions are responsible for maintaining a loan-to-value (LTV) ratio that has been previously established. The Tulip Protocol then uses the asset price data that is provided by Chainlink Price Feeds to verify that this ratio is accurate. If the value of the collateral falls below the threshold that was established by the protocol, then their position will be immediately liquidated to assist in guaranteeing that the lenders will be repaid.
Tulip Protocol intends to capitalize on Solana by giving users the ability to more regularly reinvest their income and grow their assets without having to pay exorbitant amounts of gas expenses. Chainlink oracles can now be natively integrated on Solana, making it possible for Solana-based applications to benefit from enhanced levels of security and transparency. Yesterday, OpenOcean made the announcement that they would be integrating Chainlink Price Feeds in order to help secure the limited order functionality on many chains. These chains include Avalanche, Ethereum, Polygon, Fantom, and BNB Chain.
According to Senx, Co-Founder of Tulip Protocol:
“We’re excited to be using Chainlink Price Feeds on Solana to help secure our yield aggregation platform. By leveraging the most secure and reliable on-chain data available, we’re able to provide our lenders and borrowers with greater assurances that liquidations are based on accurate price data, and the protocol will maintain a healthy loan-to-value ratio through all market conditions.”
Allowing Stakers To Benefit From Higher APYs
Natives of the blockchain as well as newcomers to the technology are beginning to understand that decentralization does not necessarily equate to a secure platform. Given that Web3 services are currently disclosing their susceptibilities to attacks from both within and outside the network, further initiatives should be undertaken to improve the safety of user assets. Fortunately, a growing number of blockchain businesses are beginning to add various levels of security to their services in order to solidify the trust of their existing customers and attract additional investors in the near and distant future.
Tulip Protocol is the very first yield aggregation platform to be built on Solana, and it features auto-compounding vault techniques. The dApp was developed to make use of Solana’s blockchain, which has a low cost and high efficiency, hence enabling the vault techniques to compound frequently. Stakeholders are able to reap the benefits of greater APYs as a result, without the need for active management.
On this week’s episode of “The Market Report,” Cointelegraph’s resident experts discuss the latest updates concerning the recent Solana (SOL) hack.
To kick things off, we broke down the latest news in the markets this week:
Bitcoin realized price bands form key resistance as bulls lose $24K, significant whale activity between $22,000 and $24,800 adds to the complexity of the current spot market setup. Bitcoin (BTC) consolidated lower on Aug. 9 after familiar resistance preserved a multi-month trading range. When will we finally break out of this price range and make the move towards $30K?
Institutions flocking to Ethereum for 7 straight weeks as Merge nears: Report, “Greater clarity” around the Merge has driven institutional inflows into Ethereum products, according to a CoinShares report. Is the ETH merge finally around the corner and will it bring new all time highs to ETH or has the price already been factored into the current price?
Circle freezes blacklisted Tornado Cash smart contract addresses, Crypto data aggregator Dune Analytics said that, on Monday, Circle, the issuer of the USD Coin (USDC) stablecoin, froze over 75,000 USDC worth of funds linked to the 44 Tornado Cash addresses sanctioned by the U.S. Office of Foreign Assets Control’s Specially Designated Nationals and Blocked Persons (SDN) list. Could this mark the end for Tornado Cash or is there a way they can redeem themselves?
Next up is a new segment called “Quick Crypto Tips,” which aims to give newcomers to the crypto industry quick and easy tips to get the most out of their experience. This week’s tip: Have some funds ready to buy further downturns.
Market expert Marcel Pechman then carefully examines the Bitcoin and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months? Pechman is here to break it down. The experts also go over some markets news to bring you up to date on the latest regarding the top two cryptocurrencies.
After Marcel’s market analysis, our resident experts discuss whether your SOL is safe and the latest updates on the Solana hack. We also discuss why the network has been victim to so many hacks and downtimes. What exactly do these exploits mean for the Solana platform and if you should be worried.
Lastly, we’ve got insights from Cointelegraph Markets Pro, a platform for crypto traders who want to stay one step ahead of the market. The analysts use Cointelegraph Markets Pro to identify two altcoins that stood out this week: Radicle’s RAD and DigiByte’s DGB.
Do you have a question about a coin or topic not covered here? Don’t worry. Join the YouTube chat room, and write your questions there. The person with the most interesting comment or question will be given a 1 month free subscription to markets Pro worth $100!
The Market Report streams live every Tuesday at 12:00 pm ET (4:00 pm UTC), so be sure to head on over to Cointelegraph’s YouTube page and smash those like and subscribe buttons for all our future videos and updates.
Singapore, Singapore , Aug. 09, 2022 (GLOBE NEWSWIRE) — Today, the ZepetoX team (ZTX, ZepetoX.io) announced its foray into the web3 space, sharing its vision to build an open world that empowers creators and communities to build, play and earn.
ZepetoX is the crypto metaverse initiative jointly incubated by ZEPETO – Asia’s largest metaverse platform with over 320 million registered users – alongside leading global blockchain organizations including Jump Crypto.
As the sole blockchain project comprehensively backed by ZEPETO, ZepetoX will have exclusive ties to ZEPETO in terms of IP including technological, design, and content assets as well as bridges to facilitate user onboarding between the two platforms. ZepetoX’s blockchain development efforts will be advised by Jump.
“ZepetoX is our official venture into the blockchain industry. We feel that web3 opportunities should be advanced through a crypto-native approach, which is why we are excited to have Jump as a contributor to developing a new platform that would have exclusive connections to ZEPETO. Overall, we believe that ZepetoX can build the ideal web3 platform to not only bring blockchain to our existing users but also to expand our footprint in the blockchain space through various disruptive initiatives,” said Daewook Kim, CEO of Naver Z – the operating entity of ZEPETO.
“We are excited to support ZepetoX’s efforts aimed at onboarding new audiences into the rapidly growing crypto space. ZEPETO’s expertise and technological know-hows accumulated over the past years from building an immersive social platform will serve as a springboard for ZepetoX,” said Saurabh Sharma, Partner at Jump Crypto.
Building on the Solana network, ZepetoX will offer a web-based 3D open world with varying levels of gamification integrated as well as opportunities for users to monetize via ownership of digital assets and social interaction. Ultimately, ZepetoX aims to empower self-expression through customizable avatars and lands that can be equipped with NFTs from a rich collection of assets created by diverse creators, DAOs, or communities.
“I am thrilled to see IP powerhouses like ZepetoX choosing to build their metaverse on Solana,” said Anatoly Yakovenko, Co-Founder of Solana. “Projects like ZepetoX create new pathways for onboarding millions of users to web3.”
“Our global team brings a depth of crypto native experiences and our goal is to build on the foundation of ZEPETO to spearhead the adoption of blockchain among metaverse users, developers, and creators,” said co-CEO of ZepetoX, Chris Chang.
In the coming months, ZepetoX will launch its first land sale. The lands will be tradable on the ZepetoX marketplace, which will feature a variety of different NFTs as the open world project evolves. Further details on the sale will be available on the ZepetoX website in the coming weeks.
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About ZepetoX: ZepetoX (ZTX) is a web3 company building an immersive content-driven platform for users to create, trade digital assets and enjoy social interaction. Founded in 2022, ZepetoX is the blockchain initiative of ZEPETO, widely regarded as the largest Asia-based metaverse platform boasting over 320 million lifetime users with over 2.5 billion virtual fashion items sold.
