Signum
Crypto Overview
Purpose and Utility
Signum is a blockchain platform that evolved from what was previously known as Burst. It claims to be the world's first sustainable blockchain, utilizing a unique Proof-of-Commitment (PoC+) consensus mechanism that combines traditional Proof-of-Capacity mining with long-term token commitment.
The platform aims to provide smart contracts, decentralized token creation, and secure messaging capabilities while maintaining energy efficiency through its consensus mechanism. The SIGNA token serves as the native currency for transaction fees, smart contract execution, and network operations.
Business Model and Current Usage
The platform's business model focuses on providing blockchain infrastructure services including: Smart contracts for decentralized applications, Tokenization capabilities for creating digital assets, Encrypted messaging system, Sustainable mining through PoC+.
The current usage aligns with the intended purposes, with active mining operations and functioning smart contract capabilities. The platform maintains transparency in its operations and does not facilitate any inherently prohibited activities.
Development Activity and Adoption
The project maintains active development with regular updates to its core protocol. The developer community continues to work on platform improvements and maintenance. While adoption remains limited compared to larger blockchain platforms, this does not affect its Sharia compliance status.
Token Distribution
The token distribution appears fair, with no pre-mine or ICO. New tokens are created through the mining process, which is open to all participants. There are no concerning concentrations of tokens in founder or developer wallets that would suggest a scheme to enrich founders.
Crypto Impact
To assign a comfort level investing in Signum from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Signum.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.