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Solar

1. What is Solar?

A decentralised community-driven blockchain project. Solar is focused on creating an ecosystem with true governance. An ecosystem with open-source developers and community involvement.

1.2 Project Mission

Solar is a blockchain with its own native SXP coin.
The SXP blockchain offers a wide variety of features and tools that allows us to level with enterprise-grade applications.

1.3 Project Key Highlights

  • Community-focused
  • Competing with top tier crypto projects
  • Open-source tools with many use-cases
  • Scalable and secure using the latest blockchain technology
  • Deflationary and inflationary at the same time

2. Solar products and technical infrastructure

2.1 Existing products

Solar Wallet

The main software to interact directly with the SXP blockchain is by using the so-called Solar wallets.
The initial Solar wallets are forked from the ARK repositories and it offers basic functions to send and receive SXP coins and to vote for delegates on the SXP blockchain.
New desktop, mobile, and browser wallets are currently being developed to interact with all the features that the SXP blockchain has to offer, such as creating tokens, interacting with the metaverse, tools to monitor the blockchain and a lot more.

2.2 Technical Infrastructure

Solar is powered by Solar Core. A safe and secure Layer-1 Blockchain Framework.
Solar utilises the Delegated Proof of Stake Consensus, also known as DPoS.
The Blockchain with its own native coin named SXP is fast, modular, sustainable, efficient and fully decentralised without the known issues and vulnerabilities from traditional Proof of Work (PoW) blockchains.
Issues and vulnerabilities such as being energy intensive or the risk of taking part in 51% attack vectors.

The Blockchain Framework has been forked from ARK Core.
Solar Core improved on the security of the Blockchain Framework by fully utilising Schnorr for signatures.
Solar Core entirely drops all support for ECDSA due to persistent signature malleability vectors.
Solar Core also provides a more robust block production routine to minimise the likelihood of nodes missing blocks and therefore creating a more stable and operational blockchain.

Security first. The blockchain framework is open-source and actively maintained on Github by dedicated Core developers.
Anyone is able to create a PR or open an issue on our Github repositories to discuss or point at a potential vulnerability in our code.
These issues will always have the highest priority and will be taken seriously to ensure that the framework will always be safe to use for our users and for anyone participating in the Solar DAO.

The Solar Core has several enhancements such as the Side Ledger Protocol for token issuing with and without metadata and custom transaction types to allow “burning” and “SolContract” which allows the creation of Solidity Smart Contracts on the SXP Blockchain.
The Solar Core also enables dynamic forging rewards based on the position of a delegate.

3. SXP Coin Overview & Use Cases

SXP utilises a Delegated Proof of Stake concensus, from which the forging rewards are distributed to delegates.
The delegates are able to further distribute these rewards to their voters and keep a percentage as reward for the contribution to the network.

90% of the transaction fees are automatically burned on the network and 10% are rewarded to delegates that forge the block with the fees.

Users may use the SXP coin in the following ways:

  • Payments
  • Create fungible and non-fungible tokens
  • Use SXP in the Metaverse
  • Staking
  • Funding projects on the launchpad
  • Voting in Governance Proposals

4. Team

The Solar Project mainly consists of open-source developers from several top tier projects with Nayiem Willems as the project leader for 2022.
At time of writing, the Solar team has 25 developers working on the initial start of the project.
With the delegating consensus, Solar aims to bring more developers or contributors to the project and reward them with the forging rewards generated by the delegates.
Solar will also additionally have a Community Fund to fund individual projects that are using the SXP blockchain.

More information about the developers can be obtained from this Github Page.