What Is Signum (SIGNA)?

A community-driven blockchain, Signum is powered by the cryptocurrency SIGNA. The platform is a feature-rich blockchain with built-in extensible modules in its architecture. These modules help to jump-start the development of on-chain decentralized applications (DApps). The Signum network seeks to combine modern features to allow quick and safe digital payment options. In simple terms, Signum is a blockchain to build DApps and allows digital payments powered by the token SIGNA.

In addition to digital payments, the platform seeks to offer games, decentralized finance (DeFi), and applications in a way that’s secure and censorship-resistant. Signum aims to empower developers and users worldwide with innovative blockchain solutions for everyday life. The platform seeks to allow trustless, peer-to-peer transactions quickly and safely. Within the chain, people can create digital assets (tokens). The user-created tokens are termed assets or colored coins. Signum allows users to use the tokens in many ways. Further, the BLOCKTALK decentralized exchange (BTDEX) is another important feature of the platform. To elaborate, BTDEX is the decentralized exchange system on the Signum chain. 

According to the whitepaper, Signum aims to use a more green and sustainable proof of commitment (PoC+), a decentralized consensus that is an evolution of proof of capacity (PoC). A consensus mechanism algorithm used in blockchain, proof of capacity (PoC) allows mining devices in the network to use the available hard drive space to validate transactions and decide mining rights. Furthermore, SIGNA is shipped with smart contracts. Smart contracts are just like regular contracts. However, instead of being drafted on paper, these contracts run in the form of protocols on the blockchain.

The platform’s native coin Signum (SIGNA) can be used in all the applications. SIGNA is traded, distributed, and stored using a decentralized ledger system. The token is accessible globally because of the underlying blockchain technology. Besides sending and receiving user-created tokens through Signum’s decentralized token exchange, the tokens can also be exchanged for SIGNA.