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)
Consider investing in Solar (SXP)? It only takes 2 minutes to create an account on Bitget and start trading SXP.
Check out the available SXP trading pairs on Bitget!
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Solar (SXP) Resources
Simple 3-step guide to buying SXP today in Ethiopia
Create your free Bitget account
Select a funding method
Complete your Solar purchase
Step 1: Create a free account on the Bitget website or the app
Step 2: Place an order for Solar using a payment method of your choice:
Buy Solar with a debit/credit card
For Visa or Mastercard, select Credit/Debit card, then click Add New Card under the "Buy" tab
Credit/Debit in the Buy Crypto tab of the Bitget app
Credit/Debit in the Buy Crypto tab of the Bitget websiteSelect your preferred fiat currency, enter the amount you wish to spend, link your credit card, and then complete your payment with zero fees.
Add a new card to complete your payment on the Bitget app
Enter your bank card details to complete your payment on the Bitget websiteFor Diners Club/Discover card, click Buy Crypto > [Third Party] in the top navigation bar to place your Solar order.
How to buy crypto with credit/debit cardBuy Solar with Google Pay or Apple Pay
Converting your Google Pay and Apple Pay balance into Solar is easy and secure on Bitget. Simply click Buy Crypto > [Third Party] in the top navigation bar to place your Solar order.How to buy crypto via third-party gatewayBuy with bank transfer
We accept various payment methods, including iDeal and SEPA for EUR, PIX for BRL, PayID for AUD, UPI for INR, QRIS, DANA, and OVO for IDR, SPEI for MXN, and GCash for PHP. These services are facilitated by Alchemy Pay, Banxa, Mercuryo, and Simplex payment gateways. Simply select Buy Crypto > [Third Party] in the top navigation bar and select a fiat currency to place your Solar order.Buy Solar with the fiat balance in your Bitget account
You can Deposit fiat funds using Advcash, SEPA, Faster Payments, or PIX payment gateways to top up your Bitget fiat balance. Then, click Buy Crypto > [Cash conversion] in the top navigation bar to place your Solar order.P2P trading
With Bitget P2P, you can buy crypto using over 100 payment methods, including bank transfers, cash, and e-wallets like Payeer, Zelle, Perfect Money, Advcash, and Wise. Simply place an order, pay the seller, and receive your crypto. Enjoy secure transactions with escrow protection.How to buy crypto on Bitget P2P
Step 3: Monitor Solar in your Bitget spot wallet
Bitget—where the world trades Solar
How to buy Solar for free
- Learn how to earn Solar for free through the Learn2Earn promotion
- Earn free Solar by inviting friends to join Bitget's Assist2Earn promotion
- Receive free Solar airdrops by joining ongoing challenges and promotions
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FAQ
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Ethiopia is located on the horn of Africa, a rugged country that encompasses the Great Rift Valley. It's a place of old culture, with archaeological artifacts dating back more than 3 million years. Ethiopia has a population of 121,396,689, and the official languages of Ethiopia are Amharic, Oromo, Somali, Tigrigna, and Afar. The official currency is the Ethiopian birr (ETB). In less than 10 mins, you can buy Solar(SXP) and other cryptocurrencies from Ethiopia using the Bitget platform with P2P trading, crypto deposit, and third-party merchants like Apple pay and Google pay.
Ethiopia has a diverse climate and landscape, spanning from the equatorial rainforest with significant humidity in the south and southwest to Afromontane regions on the summits of the Semien and Bale Mountains to desert regions in the northeast, east, and southeast Ethiopia. Ethiopia's geographical structure and landscape consist of high plateaus, mountains, and dry lowland plains. Ethiopia has some of the world's most rugged and beautiful environments. The country is surrounded by beautiful cities like Addis Ababa, Gondar, Bahir Dar, Dodola, and Lalibela, anywhere you are located in Ethiopia, Bitget will be there to give you a seamless trading experience.
Interestingly Ethiopia is the oldest country in Africa, and it has stunning side attractions like Arba Minch, Awash National Park, Axum, Bahir Dar, Bale Mountains National Park, Gheralta, Gonder, Danakil, and many more. Ethiopia is a wonderful place to be.