What is Solar (SXP)?

Deep Dive

1. Technology & Architecture

Solar is a standalone layer-1 blockchain. It uses a Delegated Proof-of-Stake (DPoS) consensus model, where token holders vote for a limited number of delegates to validate transactions and create new blocks. This design aims for higher speed and lower energy use compared to proof-of-work networks. The core software, Solar Core, started as a fork of the ARK blockchain but has been extensively reworked (Solar).

2. Governance & Tokenomics

The SXP token is the network's native currency, used for transaction fees and staking. Governance is decentralized and community-led. Holders vote for delegates, who not only maintain the network but also often share forging rewards with their voters. This system allows the community to influence the project's technical and strategic direction directly.

3. Ecosystem & Utility

Solar's ecosystem is built around the SXP token. A central product is the Solar Card, a crypto debit card that allows users to spend their assets, with newer versions integrating traditional banking features like IBAN accounts. The roadmap has historically included plans for an on-chain token protocol, an NFT marketplace, and a metaverse, aiming to create a broad utility platform.

Conclusion

Fundamentally, Solar is a DPoS blockchain that pivoted from a payment focus to a community-governed platform for various decentralized applications. How will its core utilities evolve to differentiate it in a crowded layer-1 landscape?