1. Solscan Project Background

Solscan is a data analysis and visualization platform specifically designed for the Solana blockchain. Its core positioning is a blockchain explorer that can real-time display transaction details, account balance changes, contract deployments, NFT and DeFi protocol interactions on the Solana blockchain. As an important part of the Solana ecosystem, Solscan is committed to helping users better understand and use this high-performance public chain, providing project parties, developers, and ordinary investors with rich analysis and query tools.

Solana is a high-speed and low-cost public chain launched in early 2020. It has attracted attention for its unique combination of Proof of History (PoH) and Proof of Stake (PoS) consensus mechanisms. Solana is committed to achieving extremely high transaction throughput (TPS) and very low transaction fees while maintaining decentralization. Leveraging the efficient performance of the Solana network, Solscan captures massive amounts of block and transaction data in real-time, providing users with rich on-chain analysis capabilities.

Between 2019 and 2020, the Solana team completed the early network construction. Shortly after the mainnet went live in March 2020, various tools and platforms began to appear in the ecosystem. Solscan took shape around September 2020 and continuously expanded its functionalities in the subsequent iteration process, such as the NFT marketplace information query module, Staking dashboard, and interactive visualization of smart contracts. Today, Solscan has become the preferred Solana browser and analysis tool for many users, accumulating a good reputation in the community.

Source:Solscan official website

2. The main functions and technical principles of Solscan

To understand the advantages of Solscan, you first need to understand the technology and functional modules behind it.
Solscan is primarily based on the following aspects:

1. Real-time block and transaction data: Solscan can track the latest block records and detailed information for each block, including block height, block time, Slot information, etc. At the same time, users can retrieve details of each transaction’s input and output, Gas consumption (network fees in Solana), etc.
2. Account balance and token information: Through Solscan, users can query the number of SOL Coins held by a specified account on Solana, as well as the types and quantities of other SPL tokens, and directly view the interaction between the account and contracts.
3. NFT Zone: Solscan provides an exclusive analysis page for NFTs, where you can view on-chain time, number of holders, transaction records, price trends, etc. By identifying and labeling NFT assets at the contract level, Solscan provides an intuitive query entry for NFT traders and collectors.
4. DeFi protocol data: For DeFi users, Solscan can also display the transaction volume, total value locked (TVL), and smart contract call records of major decentralized protocols (such as decentralized lending, liquidity mining, etc).
5. Staking information visualization: The Solana network encourages nodes to participate in staking to maintain network security. The Staking dashboard provided by Solscan allows users to view the total amount of staking, staking node distribution, current yield rate, and node status (whether it is producing blocks normally, delayed, or in debt).
6. Blockchain browser technology stack: Solscan realizes real-time fetching and parsing of block and transaction data by calling Solana’s RPC nodes and WebSocket connection method. Subsequently, indexing and archiving are performed in the backend database. The frontend uses visual components to present complex on-chain data intuitively to users.

Source:An example of a Solscan analytics dashboard

With these core features, Solscan provides convenient query and analysis tools for individual investors on one hand, and deep on-chain data reference for developers and researchers on the other hand.

3. Historical price performance and recent forecasts of SOL Coin

Although Solscan itself is not a token, the Solana ecosystem it inhabits is inseparable from SOL Coin. As many readers are interested in SOL Coin, the following will briefly review the historical price performance of SOL Coin and refer to the AI price prediction model for outlook.

Historical price of 3.1 SOL Coin

• Initial Stage (2020/05～2020/09): The SOL Coin had a low price near 2020/05, with the lowest price being around $0.50. At that time, the Solana mainnet had not yet fully launched, with limited market attention and relatively low liquidity for SOL.
• Rapid Rise (Early 2021 - 2021/11): With the outbreak of the DeFi and NFT craze, the Solana ecosystem gradually gained momentum, driving a substantial increase in SOL Coin price, which reached a peak of nearly $260 in 2021/11.
• Adjustment and Volatility (2022/01-2023/12): In the face of multiple factors such as the overall market correction in the cryptocurrency market and macroeconomic changes, the price of SOL Coin has experienced significant fluctuations in both 2022 and 2023, fluctuating multiple times between $8 and $150.

Source:Gate.io Spot Trading Zone

Short-term price prediction for 3.2 SOL Coin

According to the AI model predictor (for reference only, not as investment advice) results:

• 2026/12 Predicted Price: Under moderate conservative assumptions, SOL Coin may fluctuate between $180 and $220.
• 2027/01 Forecast price: If the network ecosystem continues to expand, the forecast price may test up to around $250.

The above forecast is just a reference to future prices and does not have any certainty. The crypto market is influenced by multiple factors (including macroeconomics, regulatory policies, ecological development, etc.), investors should make judgments based on their own risk preferences and more information.

4. The application scenarios and usage tutorials of Solscan

Solscan, as a widely used blockchain explorer and analytics platform in the Solana ecosystem, has a wide range of applications. The following briefly introduces its main uses and provides operational guidance, combined with typical user groups.

4.1 Ordinary Investors

• View Account and Transactions: Regular users who want to quickly check their account balance of SOL Coin, status of SPL tokens, and recent transaction history, simply need to enter their wallet address or transaction hash in the search box on Solscan homepage to jump to the detailed page.
• Check transaction fees: After the transfer, you can check the actual deduction through the browser to determine whether the gas consumption of this transaction is consistent with expectations.
• NFT asset tracking: For individuals with NFTs in their personal wallets, they can also view details such as NFT series information and listing markets on the corresponding page.

4.2 Developers

• Smart contract debugging: Solscan will record contract interaction information, which can be used by developers deploying smart contracts on Solana to track contract call details, input parameters, execution results, and log outputs, etc.
• Comparison between Testnet and Mainnet: Some teams will debug contracts on the Solana testnet, and after the mainnet is officially launched, Solscan can be used to compare and analyze the transaction data between the two environments.

4.3 Research Institutions and Data Analysts

• On-chain data fetching and index analysis: Solscan provides aggregation analysis function and supports batch acquisition of specific data at the API level. Researchers can use this for macro-level statistical modeling, such as user growth, number of transactions, average transaction fees, etc.
• Verify network health: Blockchain research institutions often need to evaluate network nodes, distribution status, TPS curves, participation staking ratio, etc., and the data provided by Solscan can play a supporting role in this regard.

4.4 Tutorial Example

1. Visit the official website: OpenSolscan.io, you can see the search box on the main interface.
2. Enter query information: paste the transaction hash (Tx Hash), wallet address, or contract address in the search box.
3. Browsing results: After clicking ‘Search’, the system will return block height, timestamp, transaction inputs, outputs, NFT-related information, etc. If it is an account address, you can also view associated token balances, transaction history, etc.
4. Switch function modules: The top of the page provides columns such as ‘Analytics’, ‘NFT’, ‘DeFi’, ‘Blocks’, ‘Accounts’, etc., which users can switch as needed.

Source:Tutorial Example

Summary

Solscan, as a blockchain browser and data analysis platform focused on the Solana public chain, has become an important data window for millions of users. From real-time block and transaction information, to DeFi protocols and NFT asset tracking, as well as Staking data visualization and node monitoring, Solscan is deeply favored by ordinary users, developers, and professional institutions due to its rich features and user-friendly experience.

Looking back on its development, it can be found that the success of Solscan is closely related to the rapid growth of the Solana network. Today, facing daily loads of over 379 billion transactions and a high TPS of 4000 to 5000, Solscan successfully transforms complex on-chain data into intuitive and clear charts and analysis reports. In terms of compliance and technological innovation, Solscan is also continuously exploring new cooperation and service models to meet diverse market demands. As the Solana ecosystem continues to grow, Solscan is expected to further expand in the areas of cross-chain queries, AI risk analysis, and institutionalized data services, contributing to the transparency and maturity of the entire industry.