How to buy Solar (SXP) Guide

What is Solar (SXP)?

Solar is a community-driven project for decentralized peer-to-peer payments that operates on an open-source layer-1 blockchain.The project uses a Proof-of-Stake consensus mechanism and has a native digital currency known as SXP. Its ultimate goal is to establish an ecosystem with authentic governance similar to Ethereum and Solana. This is why the Solar Network had to undergo a major revamp from its previous ecosystem called Swipe, along with other significant milestones.

How Solar (SXP) Works

At the heart of the Solar ecosystem lies the Solar Core, which serves as the foundation of the project's delegated Proof-of-Stake blockchain. It is a modified version of the Ark blockchain, distinguished by its use of Schnorr signatures that improve privacy.

The Solar blockchain is made up of 53 delegates who serve as block producers and transaction validators. The process of block production is organized into rounds, each of which consists of 53 blocks, with one block being submitted by each delegate per round. With an 8-second block time, the Solar blockchain is one of the swiftest in the industry, surpassing the Bitcoin and Ethereum blockchains in terms of speed.

The block reward of 530 SXP per round follows this formula: Reward = ((N + X) / D) * (R / S * D)

The variables being: N, which denotes the starting position of the forging delegate at the beginning of the round. Additionally, X, a variable that measures the ratio of reward between the top and bottom delegates, is set at 53. D, which represents the total number of delegates, is also set at 53. The average block reward in one round is represented by R, set at 10, while S, representing the sum of ((N+X)/D) from N=1 to N=D, is set at 80. Applying these variables to the formula, we arrive at the block reward of 530 SXP per round.

Based on this, if a delegate is assigned the position of 1, they will receive a minimum of 6.75 SXP during each round. Conversely, if a delegate is positioned at 53, they will receive a minimum of 13.25 SXP per round. It's worth mentioning that the community holds the authority to modify these values, as evidenced by a governance proposal approved by voters and delegators in Q3 of the previous year.

How Many SXP Tokens Are in Circulation?

SXP is the native utility coin of the Solar blockchain. It has a circulating supply of 555,601,138 SXP coins and the maximum supply is not available.

How to Buy Solar (SXP)

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SXPUSDT

Solar (SXP) Resources

Official Website

Official Documents