📚Mission 4 - SOLANA
Learn to understand the transaction information on the blockchain.
Last updated
Learn to understand the transaction information on the blockchain.
Last updated
We are learning! In the last mission we learned how to find our transactions in SolanaFM blockchain scan and to view the reward transactions from previous missions. However, SolanaFM has many details we have not yet analyzed.
A transaction has some data that can be useful in many ways, such as understanding its method, where it comes from, its total amount, if any error occurred, etc.
To recap, in mission 1 you received 1-point-something MELK. Keep it in mind since we will mention it in this mission.
This mission will teach you a few things that will sound very technical, but are important for you to have a general understanding of the transactions, the fees charged, and to avoid wasting money when making your actual transactions.
To take a deeper look into our transactions, we need to open SolanaFM again as in the previous mission. You can access it here. The screen should look like mine.
As you learned in the previous lesson, now we are going to access our transactions. To do this, repeat the process from the previous mission: copy your Phantom wallet address and paste it into SolanaFM's search bar. The result should look like mine, but with your address:
Let's understand a little about this screen.
First, we are going to understand each section of this part of the screen (highlighted in purple on the image below)
Balance is the amount of tokens you hold. SOL is the native token of Solana, and we do not have it yet. That is why our balance is 0 SOL. To learn more about it, refer to this link. When you have a token that is worth in the market, you will see the Net Worth in USD and in SOL that is why you have these 2 sections in Balance. At the moment I write this, the SOL is worth U$39.68
In this section we can identify our MELK tokens. Follow the screen bellow:
Observe that the monetary value in the VALUE field is also zero, as well as the PRICE. That happens because the MELK token does not have a monetary value at first, as explained in this section. Observe that besides "Assets in Account" you can see the tag 1 tokens in purple . It means we have a token contract (in this case, it is the MELK)
Under ASSET you can see the name of the token MELK , click on name of the token, and this will take us to another page:
This page all the information about the MELK token including supply, decimals, mint and freeze wallet and the latest transfers done with the token.
Now, let’s go back to the previous screen (where we did the search for our address) and learn more about our transactions.
Now, like before, we will search for our transaction in the Transactions
Let's understand this screen and analyze its components, but first click on the transaction of the first mission, with 1-point-something MELK:
Here we will be able to get a broader view of the transaction and understand the meaning of each part. Your screen should look something like this:
Scroll down to see all details:
In the first part of the page you can already see that the Transaction was successful, finalized and with maximum confirmations achieved. This means that the transaction has been fully processed and verified by the network. It has been added to the blockchain and cannot be reversed or altered. The maximum confirmations indicate that the transaction has been validated by the maximum number of nodes in the network, ensuring its authenticity and security.
It also includes details of block, date and time, fee paid and which version of the network was used.
The transaction flow in the SolanaFM explorer is like a detailed receipt for a transaction on the Solana blockchain. Here's what it shows:
Sender: This is the account that sent the tokens.
Amount: This is the amount of tokens that were sent.
Receiving Account: This is the account that received the tokens.
Owner: The contract owner, in this case the same as the sender.
Fee: This is a small amount paid for making the transaction, like a service charge.
Newly created account: new unique address on the Solana network.
By examining the transaction flow, you can gain a comprehensive understanding of the transaction's details, its path through the network, and its final state.
The "Accounts Involved" section in the SolanaFM explorer provides information about all the accounts that participated in a particular transaction on the Solana blockchain.
Signer, these are the accounts that have provided a signature for the transaction. Writable, these are the accounts that have been changed or could be changed by the transaction. Read-Only, these are the accounts that the transaction has read data from.
These are operations that have happened to make the transaction happen. Each instruction carries out a specific task and contributes to the overall outcome of the transaction. By examining the instructions, you can understand the steps that were taken to process the transaction on the Solana blockchain. "Expand All" to see more details.
The "Logs" section in the SolanaFM explorer provides a detailed record of the actions and events that occurred during the execution of a transaction. Each log entry corresponds to a specific operation or event.
Transaction logs in blockchain are important as they provide a detailed step-by-step record of each transaction, helping you understand how transactions work, learn about blockchain operations, and appreciate the transparency and security of blockchain technology.
Go to the Mission 4 channel on discord and send a message with block number of your first transaction you received in Mission 1, this is displayed on the Transaction section. Write down the complete value so you can send in the right channel. In my case, my message would be the following:
252970693
If you have any questions, feel free to contact us on the #melk-support channel inside Discord.
In this mission we learned many things.
We learned how to interpret the simplified transaction information screen and to find transactions of other tokens.
Analyze and understand each field of a complete transaction, understanding the values the network works with.
