Blockchain power for all — Signum and the new blockchain generation
Signum is the pioneer of truly sustainable, decentralized blockchain solutions, an alternative to wasteful Proof of Work and centralized Proof of Stake systems. First developed in 2014, Signum has been at the forefront of blockchain technology with the first implementation of smart contracts. Since 2019, the Signum-Network has been preparing the Signum blockchain for the next decade.
When does an idea or an invention achieve true popularity?
When people everywhere can use it every day.
When they can use it simply, reliably, conveniently, without complicated terminology, and with easy-to-see value.
Over the last decade, blockchain has grown from the initial decentralized currency of Bitcoin to a multitude of applications and platforms, all competing for users’ attention. The founding principles of blockchain — decentralization, distribution, immutability, and security — are as relevant today as they were 10 years ago.
But what about other essential aspects, like scaling as users grow, but while respecting the environment? What about ease of use and accessibility for all? Find out below how Signum offers a unique, leading-edge answer to all these requirements, today.
Signum’s mission to meet real-world needs
Blockchain continues to have enormous potential. Secure cryptocurrencies, decentralized payment platforms, and smart contracts have already changed life for organizations and individuals. However, this has often only happened by getting experts involved — not just for creating blockchain technology, but also for applying it for useful results. Even though we now live in a world of one-click user-friendliness, like smartphone apps, blockchain can still be clunky and abstruse.
Yet it should be as simple for users to make crypto-money transactions, as it is to use their high-street and online banks. It should be just as easy to use tokens to unlock value and transfer value for things they want to own, buy, or sell — whether cars, houses, works of art, or other items. Meeting real-world needs like these has been Signum’s blockchain mission from the start, together with an unshakeable focus on trust, sustainability, and fairness for all.
Leapfrogging previous generations with Blockchain 4.0
Back in 2009, Blockchain 1.0, as it is sometimes called, was built to power Bitcoin. This was the first decentralized, distributed, digital currency. Bitcoin remains a prominent cryptocurrency today, but its underlying blockchain faces challenges. It is mostly limited to Bitcoin investment and payment transactions. Scalability is an issue, with a current maximum of 7 transactions per second. And worldwide power consumption to drive Bitcoin is staggeringly high.
Blockchain 2.0 started in 2015 with Ethereum and the arrival of smart contracts running on the blockchain. While this was a quantum jump in capability, platforms of this generation still have issues of scalability and sustainability. Also, experts are needed to program smart contracts and create tokens to encapsulate value. Since then, other platforms have announced plans to offer “Blockchain 3.0” that is more scalable, greener, and easier to use, although release schedules vary.
Signum leapfrogs these generations to move directly to Blockchain 4.0 and meet all these needs today. The Signum blockchain platform with its Signa cryptocurrency offers fully-developed functionality with rich, easy to use features. It is also flexible, modular, and extensible, being designed for the development of new capabilities as users and technologies evolve.
Signum for true scalability and flexibility
A blockchain should be able to grow and adapt — and not just in transactions per second. Signum ensures scalability and flexibility across multiple dimensions:
- Speed and volume of transactions. Conventional banking card networks handle up to 24,000 transactions per second. Signum’s design enables it to grow and handle similar levels.
- Accessibility. Requirements for participating in Signum are modest, especially when compared with other blockchains. Signum and its cryptocurrency Signa are attractive to participants, whatever their level of resources.
- Ease of use. For those who want immediate value rather than tech, Signum is “point and click.” But it also offers extensive programming possibilities in industry-standard development environments for those who want to take its capabilities further.
- Customization. With Signum, have it your way. The flexibility and innovation of the platform help users create their preferred blockchain experience.
Signum features, advantages, and benefits
Each advantage and benefit is backed up by a robust Signum feature or functionality.
- A decentralized network
Signum safeguards decentralization by lowering entry requirements for new network nodes. It makes them accessible to anyone with a PC or a smartphone. Signum’s Proof of Commitment (PoC+) consensus mechanism is an industry-leading model of security and fairness. It is also designed to prevent any user from acquiring a controlling stake.
- Native Signa cryptocurrency
The Signa digital currency is distributed, traded, and stored via the Signum blockchain. Besides conventional payment transactions, as a miner, you can stake Signa to increase your chances of being recompensed for forging new Signum blocks. You can also use it to pay for additional services like smart contracts, at attractive rates, especially compared to other blockchains.
- Payment platform functionality
Unlike other blockchains, Signum makes it easy to perform multiple payments in one action, whether the payments are the same or for different amounts. It’s faster and cheaper than separate, one by one transactions. Also, Signa Subscription offers recurring payment capability, like a standing order on your bank account. Signum makes ease of use a priority.
- A smart approach to smart contracts
Signum comes with smart contracts implemented as Automated Transactions (AT). You can use well-known programming platforms/IDEs like Visual Studio Code, Eclipse, and IntelliJ to develop and run smart contracts. Signum smart contracts can self-execute as well. They don’t need transactions to trigger them, opening a new range of additional ways to use them.
- Ready-to-use tokens
Creating tokens with Signum is as easy as sending an email. Within minutes, you can start using tokens to create games, make crowd sales, run affiliate sales, start a business, or anything else you can imagine. While smart contracts are always available, you can now also create tokens without needing to make smart contracts, easily, quickly, and economically.
- Slimmed-down block data storage
Blockchains work by adding new blocks to a chain of blocks and keeping copies in users’ machines. But this can make them victims of their own success, if users are forced to store huge quantities of blockchain data. By comparison, Signum offers smart data setup with a very small data footprint while maintaining security, this allowing more users to participate.
- Real-world account logic
Most users already have accounts, for conventional banking, utilities, shopping, or social benefits, for example. Signum accounts are designed to offer the same elevated levels of user-friendliness. Unlike other blockchains, Signum accounts have human-friendly names and make it easy to use aliases.
- Green technology
Signum uses remarkably little power to run its network. For example, it requires less than 0.002% of the energy that Bitcoin needs. Users increasingly expect a crypto platform to minimize its impact on the environment. Signum does so by design and in practice. Sustainability will continue to be a key feature of future releases too.
Signum combines the best of Blockchain 1.0, 2.0, and 3.0. It offers you a new era of blockchain power, value, innovation, and user-friendliness, all in a truly green and secure way. It is an excellent choice for individuals and organizations who want blockchain flexibility, simplicity, and convenience. With its feature-rich architecture and extensible built-in modules, it is also a great platform for developers. From digital payments to tokens and automated transactions, Signum now sets the standard with new generation Blockchain 4.0.
Signum is the world’s first truly sustainable blockchain, featuring world-class applications on a sustainable leading-edge blockchain architecture. Compared to other cryptocurrencies, Signum powers its native cryptocurrency Signa (SIGNA) with a minor fraction of the energy use and e-waste. Signum empowers users and developers around the world with innovative blockchain solutions for everyday life.
SNA is a Swiss Not-for-Profit Organization founded in 2021 to provide a solid foundation for Signum to grow and fulfill its vision of sustainability and innovation in blockchain technology.
Find out more at https://signum.network/ or join a Signum channel below.