When comparing Solar 2D (formerly Corona SDK) vs Oxygine, the Slant community recommends Solar 2D (formerly Corona SDK) for most people. In the question“What are the best 2D game engines?” Solar 2D (formerly Corona SDK) is ranked 15th while Oxygine is ranked 18th.
Specs
Ranked in these QuestionsQuestion Ranking
Pros
Pro Very simple to use

Pro Free
Corona SDK is completely free. That includes pro-tier plugins.
Pro Corona Simulator
Corona SDK ships with Corona Simulator, which runs your game/app directly on your PC/Mac and updates every time you make changes.
It provides immediate feedback to your actions, you can see your changes right on the screen, without necessity to make build to device. Getting instant feedback really boosts tenfold prototyping and development speed.

Pro Good documentation and lots of tutorials
Pro Content scaling
It's easy to create a game that looks good on many different sized mobile devices.
Pro Live builds - update builds running on a device automatically
With the live build feature, once you have created a build and installed on a device, you get lightning fast turnaround times because any change on the code or data is updated to the devices running the game (within the local WiFi) immediately. So changes can be tested on the real hardware within a very few seconds.
What's even more impressive, this even works flawless with multiple devices running the game. You have to use it to learn how good of a feature this is while development and even more, while doing QA. Imagine fixing bugs and everyone of your QA team/friends/whoever helps to get your game done, has all changes on his device without doing anything but waiting 5 seconds - outstanding.
Pro Lua syntax
Uses the great and easy-to-learn Lua programming language.
Pro Very comprehensive API
It's very quick to get things up and running with Corona SDK. The API is extensive and while it's not 100% feature-complete with the iOS API, it's close enough that you could create tons of games and never run into a roadblock.
The API docs can be found here.
Pro Amazing learning curve
Corona does not throw photoshop-like madness full of buttons editor. You can go as fast as you want, learning and building game from ground up. Eventually, you'll learn how much corona is doing for you. But to start you don't have to master complex editor software. It's a great tool to learn to start game development if you want to learn how to program and make games. Your experience will be 100% transferable to any other Pro game engine.

Pro Cross-platform desktop and mobile
Corona works on OS X, Windows and Android (including Kindle Fire & Nook).
Pro Marketplace for 3rd party plug-ins

Pro Great community

Pro Ability to call any native (C/C++/Obj-C/Java) library
Pro Completely free
Since Corona SDK became Solar2D, it's completely free, as only some third-party plugins are paid.
Pro Open Source
Since Corona SDK became Solar2D, it's completely open source under MIT license.

Pro Well supported
Pro Games can be built as HTML5 applications
Most interesting is ability to build C++ Oxygine application for Web via Emscripten. So you write C++ code and it will compile it to HTML5/JS.
Pro Functionality can be extended with a bunch of available extenions
All of them available publicly at github.
- oxygine-movie for playing Theora movies with alpha channel
- oxygine-sound player for ogg sound/music with streaming
- oxygine-freetype library
- oxygine-billing for in-app-purchases on Android/iOS
- oxygine-spine for playing Spine animations
- oxygine-magicparticles for playing particles made with MagicParticles
Pro Will be familiar to users of ActionScript3/Flash API
If you are familiar with ActionScript3/Flash API, then you will find it easy to begin working in Oxygine. Oxygine is much like Flash in C++, as its Event Handling model is very close to that of ActionScript 3 and SceneGraph.
Pro Easy to use C++ API with optional C++11 features
Oxygine is written in C++. It provides easy to use API, which is designed with "do more with less code" philosophy. It uses a managed scenegraph system that takes care of rendering and updates, and provides ability to extend with custom rendering and updates.
Pro Free, open source and cross-platform
Oxygine is a free framework that works on OS X, Windows, Linux, iOS, Android, HTML5. It's licensed under MIT with source code available on GitHub.
Pro Robust
It's very rare to experience bugs with Oxygine.
Pro Allows playing movies with alpha channel
Using oxygine-movie extension for Oxygine you could play in your game any videos encoded with Theora codec.
You movie could have alpha channel and used as simple sprite instead of classic spreadsheet animations.
Pro Allows for flexible contol over draw processes
Pro Fast
Cons
Con Free, but not completely
Con Making a device build requires internet connection
To build your app for the device (iOS/Android/AppleTV) Corona requires to fetch resources from online. This would include base application template and plugins. This allows not to perform local build or use Xcode or Android Studio to do a build. Even Large games/apps would build very fast with good internet connection.
Your code never leaves computed. Corona SDK would transfer some information to determine which plugins and pieces has to be transferred in order to make a final steps in build.
As a bonus - you get basically one button press to get from your Corona Simulator game to game on a device.
Con Inactive
The project does not seem to be active: there has been no new commit since mid-2019, the Twitter feed for the engine stopped posting news in 2018, and the forum is offline as of May 2021.
Con Little community support
Oxygine is a young framework. It was first released in 2013 and has yet to gather a large community. As of February 2016, the forum had just 123 members.
Con Not many tutorials available
There are not many tutorials available that teach developers on how to make a game with Oxygine from scratch. Because of this, it may be harder to pick it up or to start learning game development by using this engine.
