Solar is secured by a combination of [Proof-of-Stake](https://coinmarketcap.com/alexandria/article/how-does-proof-of-history-poh-work) ([PoS](https://coinmarketcap.com/alexandria/article/how-does-proof-of-history-poh-work)) consensus, multi-signature wallets, [smart contracts](https://coinmarketcap.com/alexandria/glossary/smart-contract), and a decentralized architecture. Instead of miners competing to validate transactions and earn tokens, the PoS mechanism selects [validators](https://coinmarketcap.com/alexandria/glossary/validator) based on their stake in the network. Additionally, a bug bounty program is in place to encourage security researchers to identify and report potential vulnerabilities or exploits, helping to address security issues as they arise.

There are 556,386,099.063 SXP tokens in circulation at the time of writing.

Solar is built on the Solar Core, a [Layer-1](https://coinmarketcap.com/alexandria/glossary/layer-1-blockchain) Blockchain Framework. The Solar blockchain uses the Delegated Proof-of-Stake Consensus ([DPoS](https://coinmarketcap.com/alexandria/glossary/delegated-proof-of-stake-dpos)). The network is protected and supported through DPoS by 53 delegates, also known as [node](https://coinmarketcap.com/alexandria/article/what-is-a-node) operators, or validators. Solar is an enterprise-level blockchain ecosystem powered by open-source developers and community participation which aims to create a transparent governance ecosystem. Developers constructing DApps on the Solar platform have access to a variety of features, such as smart contracts, decentralized storage, as well as numerous tools and resources, all of which are provided by Solar Core.

Joselito Lizarondo and Nayiem Willems founded Solar Network in 2018. Lizarondo and Willems, who previously launched Swipechain, built Solar with a similar mission in mind: to provide sustainable, clean energy solutions to remote areas by leveraging blockchain technology. The Solar Blockchain Foundation was born in December 2021, in Estonia, after Binance acquired the remaining outstanding shares of Swipe (SXP). Its key focus is to build a blockchain ecosystem that invovlves open-source developers and a thriving community.

SXP is the native utility token of the Solar [blockchain](https://coinmarketcap.com/alexandria/glossary/blockchain). Users can [stake](https://coinmarketcap.com/alexandria/glossary/staking) it to secure the network and earn rewards, and pay transaction fees on the Solar blockchain. They can also help govern the Solar blockchain by proposing and voting on changes to the protocol, and earn rewards for providing [liquidity](https://coinmarketcap.com/alexandria/glossary/liquidity). Additionally, Solar [DApps](https://coinmarketcap.com/alexandria/article/what-are-dapps) use SXP as their primary currency.