What is Solar (SXP)?
Solar (SXP) is a cryptocurrency designed to support the Solar Blockchain Framework, focusing on creating a transparent governance ecosystem tailored for enterprise-level applications. As the native utility token, SXP plays a crucial role in facilitating transactions and interactions within this blockchain environment.
The Solar Blockchain Framework
At the heart of the Solar project is the Solar Core, which operates using Delegated Proof-of-Stake (DPoS) consensus technology. This innovative approach ensures the security and efficiency of the blockchain by designating 53 delegates, known as validators. These validators are responsible for validating transactions and maintaining the integrity of the network.
Key Features of Solar
- Transparent Governance: Solar aims to create a community-driven blockchain ecosystem, allowing users and developers to participate in governance and decision-making processes.
- Open Source: The framework is open-sourced, encouraging collaboration among community members and developers to continually improve and adapt the ecosystem.
- Staking Mechanism: Users can stake SXP to secure the network. In return, they earn rewards, thereby incentivising the community to actively participate in maintaining the network’s security.
- Transaction Fees: SXP is also used for paying transaction fees within the Solar blockchain, making it a versatile utility token.
Solar’s Vision
Solar is committed to creating a more transparent and accountable blockchain framework. The project prioritises community governance, ensuring that contributors are rewarded for their efforts and involvement in the ecosystem. By leveraging a collaborative approach, Solar aspires to revolutionise how blockchain ecosystems function, promoting fairness and transparency.
Use Cases of SXP
The primary use cases for the SXP token include:
- Staking rewards for network security.
- Payment of transaction fees when conducting transactions on the Solar blockchain.
- Participation in governance decisions affecting the direction and development of the Solar blockchain ecosystem.
Official Resources
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