Signum SIGNA Price

What is Signum (SIGNA)?

Signum (SIGNA) is a blockchain platform that emphasizes sustainability and decentralization through its innovative consensus mechanism known as "proof-of-capacity." Launched in 2014 as Burstcoin, it was rebranded to Signum in 2021. The platform aims to provide a secure and efficient environment for decentralized applications (dApps) and smart contracts, leveraging its unique approach to data storage and transaction validation. With a total supply of approximately 2 billion SIGNA tokens, Signum is designed to facilitate peer-to-peer transactions and enable the development of various blockchain-based solutions.

Who are the Founders of Signum?

The founders of Signum include a group of developers who have been involved in the project since its inception as Burstcoin. Key figures in the development team include Johan van der Veen, Franko, and the Burst community, which has played a significant role in shaping the project over the years. The community-driven approach has led to continuous improvements and updates, making Signum a resilient and adaptive blockchain solution.

How does Signum Work?

Signum operates on a unique consensus mechanism known as proof-of-capacity (PoC), which utilizes unused disk space on users' hard drives to validate transactions. Instead of relying on energy-intensive mining processes like proof-of-work (PoW), PoC allows users to allocate storage space to the network, making it more environmentally friendly. When a transaction is initiated, the network selects participants based on their allocated storage, which reduces energy consumption and increases transaction efficiency.

Additionally, Signum supports smart contracts and decentralized applications through its scripting language, allowing developers to create complex functionalities on the blockchain. The platform also includes features such as decentralized storage, asset management, and secure messaging, enhancing its usability for various applications.

Top Use Cases of Signum

Signum has several prominent use cases that demonstrate its versatility:

• Decentralized Finance (DeFi): Signum enables the development of DeFi applications, allowing users to lend, borrow, and trade assets without intermediaries.
• Asset Creation and Management: Users can create and manage digital assets on the Signum blockchain, facilitating tokenization of real-world assets.
• Decentralized Applications (dApps): Developers can build dApps on Signum's platform, leveraging its smart contract capabilities to create innovative solutions.
• Data Storage: The proof-of-capacity mechanism allows users to store data securely and efficiently on the blockchain, making it ideal for various applications.
• Community Projects: Signum's community-driven approach fosters the development of projects that address specific needs, creating a robust ecosystem.

How to Keep your Signum Safe?

Securing your Signum (SIGNA) tokens is crucial for protecting your investments. Here are some best practices:

• Use Hardware Wallets: Store your SIGNA in a hardware wallet to protect against online hacks and malware. Hardware wallets offer a secure way to store your private keys offline.
• Enable Two-Factor Authentication (2FA): Activate 2FA on your wallet and trading accounts to add an extra layer of security to your transactions.
• Regularly Update Software: Keep your wallet software and any related applications updated to ensure you have the latest security features and patches.
• Be Cautious of Phishing Attacks: Always verify the authenticity of websites and links before entering your wallet credentials. Phishing attacks can compromise your account.
• Backup Your Wallet: Create backups of your wallet and private keys in multiple secure locations. This will help you recover your funds in case of loss or damage.