Most platforms use smart contracts to handle token creation and serve various activities like buying, selling, and transferring from within the smart contract. Signum’s approach is different. On the Signum blockchain, tokens are situated similarly to the blockchain’s own native coin () in that they are unique entities that can be transferred or traded directly between s. Their position is directly attached to accounts, not taken via a smart contract.
All possible activities are governed by the blockchain nodes’ existing transaction types and logic, making the current token setup “smart”.
When creating a smart token, the user will be able to define the token as mintable or non-mintable. If the token is defined as mintable, the creator will be able to mint additional smart tokens. If non-mintable, the token is limited to the initial supply specified at the time of creation.
Example message of token creation:
Name of the smart token. Max 10 letters - this is not unique
A description of the token
Number of decimals - can be 0 to 8
If true you can mint more tokens
Intital amount of smart tokens by creation attached to the issuer account
The smart token ID is always the transaction id for the creation of the smart token. This Id is unique.
Burning smart tokens
Any Signum smart token can be burned by transferring it to address 0 (zero) using the transfer transaction.