Frequently Asked Questions
If my question is not addressed here, where can receive support?
Support is always available at Signum Discord. Even if you find the answer to you questions below, you are always welcome to join the Signum Discord forum to chat with the friendly community about Signum.
What is Signum?
Signum is a cryptocurrency and an open-source, decentralized blockchain platform that connects people, companies, and financial institutions. It allows you to move value, according to your own rules, within a scalable, green, and customizable ledger. Signum was the first cryptocurrency to use Proof-of-Capacity, an environmentally friendly consensus algorithm in which hash functions securing its network are pre-computed, written to storage, and retrievable for reuse in the mining process. See: Signum Community Website & Documentation Project
Where can I buy, sell, and trade Signa?
A list of exchanges is maintained in the menu at signum.community. Individuals in the United States can purchase bitcoin at Bittrex and convert it to Signum using a market or limit order, or buy bitcoin on another exchange such as Coinbase, transfer it to Bittrex, and convert it to Signum. Signum can also be traded on Signums own decentralized exchange. A list of exchanges can be found in the menu on the Signum Community Wesite.
When was Signum created?
August 14th, 2014. about the history of signum, see: Signum-History
What is the minimum transaction fee?
The minimum transaction fee is .00735 Signa. Fees are market-based. This means that all transactions are included in each block unless the maximum number of transactions per block is reached. In this case, transactions with a higher fee are prioritized and lower fee transactions are deferred until the next block. See: Signum Payment Solutions
Where can I find the numeric id for my account?
The numeric ID is found by clicking on “More Information” under the account balance in Signum Node and by clicking on “Account Information” under the QR code in Phoenix (upper left corner.)
Is documentation available in other languages?
How can I transfer Signa to and from Bittrex?
Bittrex requires every deposit to include an un-encrypted message indicating which account is to be credited. Signum encrypts messages by default, so you must deselect the encryption box before sending the deposit. If you have sent a deposit with an encrypted message, contact Bittrex support with all of the details. They will credit your account, but it may take some time.
Are the generated 12-word passphrases secure?
Absolutely. It has been estimated that attempting all possible combinations of words from the selection set (dictionary) against an account would require 13,537,856,339,904,134,474,012,675,034 years with no guarantee of success. You can add an extra word at the end of the passphrase so that it is not limited to the known collection of words, but this is unnecessary. The Phoenix wallet technically generates the most secure passphrases as it draws from a larger dictionary of words and requires one of the words to be an arbitrary text input by the user. See: Passphrase Security
How can I keep my coins safe?
Before transferring coins to a new account, sign in and out of the account to verify that your record of the passphrase is accurate. Keep multiple copies of the passphrase in separate locations. Do not disclose your passphrase to anyone you cannot trust. Will your passphrase be available to your estate if this should be necessary? Depending on the value of your account, your security plan might include multiple wallets, one for cold storage, another for convenience, and others for special activities such as mining. See: Accounts & Security
Where should I store my Signa?
This is a personal choice with benefits to each option, depending on your circumstances. If you are confident that your computer is safe from hacking, keystroke loggers, etc., a local computer is the safest option other than cold storage. Otherwise, leave your coins on a reputable exchange with two-factor authentication activated. Online wallets are not recommended as there is no way of knowing that these do not record your passphrase. Consider using various methods, a local wallet for cold storage, a separate account for daily convenience, and a few coins on an exchange for trading. See: Accounts & Security
Does Signum have a roadmap?
See: Signum Development
How can I submit an idea for Signum?
Submit your ideas to the development team at Signum Discord. Post in #technical-discussion, #marketing, #general, or other section as applicable. The Signum community extends across every time zone, so not all community members are available at all times.
You will likely be contacted by a more senior member of the community for more information. The community may have already discussed an idea that is new to you and moved permanently in a different direction. Regardless, the Signum community is a friendly welcoming group and happy to discuss your ideas.
Does Signum partner with businesses?
Signum is a currency with a robust platform that is attractive to many businesses for various use cases. The leadership team seeks to maximize Signum’s value to businesses and 3rd parties in the same way that it does for individuals. Signum actively seeks joint development processes to assist companies in implementing solutions on the Signum blockchain and will engage in mutually beneficial cooperation with 3rd parties when doing so is understood to maximize the value and utility of Signum. Contact us on Signum Discord.
How can I contribute to the success of Signum?
Run Signum Node to contribute to network growth and decentralization. If you are a programmer, contact the development team on Signum Discord to offer project assistance in your area of expertise. Raise awareness whenever you can without engaging in the practice known as ‘shilling.’ Help translate Signum materials into your local or 2nd language. Learn to assist others who have the same type of questions related to Signum that you do.
Why is the development team anonymous?
Each member of the development team operates with self-selected degrees of anonymity while remaining accessible and approachable through public forums and other methods of communication. The development team is comprised of highly skilled individuals that have demonstrated leadership for the Signum community and have produced results that are readily observable from the advanced state and success of Signum today. The development team’s membership changes from time to time as development needs are identified and met. Each is invested in the success of Signum and works without remuneration, seeking to maximize the value of Signum for the community and their individual portfolios acquired through market-based arm’s length transactions. The degree to which an individual member of the development team chooses to remain anonymous is a personal choice considering their desire for privacy, limits to their engagement, and security concerns.
Which local, online, or mobile wallet should I use?
Signum Node is required for running a public no. It includes the classic wallet as well as Phoenix. BTDEX is the recommended software for an all-in-one solution. It includes essential wallet functions, plotting, mining, and an interface for Signum’s decentralized exchange. It connects to the Signum Network remotely by default, but it can also be connected to a local instance of Signum Node. The BurstPay Mobile Wallet is another excellent choice. Online wallets are never recommended. See the Getting Started Guide and Signum Software for full details on selecting a wallet.
How can I set up a node?
All Signum wallets operate as public nodes by default while open. It may be necessary to open port 8123 on your internet router however. Running a public node continuously (24/7) is one of the most important and easiest ways you can contribute to the Signum community. See the Public Nodes tab at Signum Node Installation.
My wallet starts but will not completely synchronize?
There may have been a drop in your connection, so you should try to restart the wallet. Occasionally a wallet will become stuck at a certain point in synchronizing. Click on the option for “popping off blocks” so that your wallet can attempt to sync from an earlier time. If this does not resolve the issue, ask for assistance on the Signum Discord channel.
Why does my balance appear to be incorrect?
Synchronization with the blockchain occurs each time a wallet is opened. The balance displayed will update when the latest information from the blockchain is received. If synchronization is complete, any difference between the perceived balance and the displayed balance should be reconcilable by reviewing your recent transactions.
Will Signum be listed on a particular exchange?
Exchanges will occasionally list a coin upon client request, but most require a listing fee. The development team carefully considers which exchanges are beneficial. It considers geographic region, volume on existing exchanges, and other criteria to assure that funds donated by the community for this purpose are put to the best use.
When will value of Signa increase?
The focus of the Signum development team is to refine Signum’s fundamentally sound and unique technology rather than short-term gains. Exchange rates will increase when the value of its underlying technology is more fully recognized. With this recognition will come greater adoption, and with greater adoption will come increasing exchange rates. With greater attention being given to the environmental disaster that accompanies the PoW (proof of work) consensus algorithm, greater awareness and recognition of Signum’s environmentally friendly proof-of-capacity (PoC) consensus algorithm should lead to increasing exchange rates over time.
Difference between solo and pool mining?
With solo mining, your software submits mining results (deadlines) in direct competition for the lowest deadline value against all other solo and pool miners. With this setup, you receive the full block reward. With pool” mining, you join forces with other miners and share block rewards earned by the pool collectively. With pool mining, you can expect smaller payouts per block but will receive these payouts more frequently. Each pool divides rewards differently, so you will want to evaluate each pool’s reward distribution method to find one that is right for your mining setup. See: Signum Pool & Solo Mining
Do I have to leave my wallet open to continue mining?
If you are using your own node, the node software must be running. However, you do not need to have the wallet interface open. If you are pool mining, you do not need to have any software running except for your mining software.
Can I game while mining Signum?
Generally yes. If you experience degradation of performance at some point, it is likely that the game itself has overpowered your computer’s resources on its own. Mining Signum generally requires a negligible amount of computer resources.
What is a plot file?
A plot file contains the pre-computed hashes that are used to mine Signum. A plot is bound to the account that created it, but they can be created on one machine and transferred to another for mining. It is common to plot hard drives using computers with faster CPUs or GPUs and then mine the disks using computers with slower CPUs. For general information about Signum plotting, see Signum Mining. A full explanation for the process of generating plot files is found in Signum Plotting Technical Information.
What size is best for plot files?
For recommendations for selecting plot file size, see Plot File Size.
Why do overlapping plots matter?
Having overlapping plots means that a portion of your drive has duplicate plot files. Plot your drives carefully to avoid this overlap. If you find that you have overlapping plot files and can identify them, it is best to re-plot these sections to assure the best possible utilization of your available hard drive space. Overlap in your plot files will not cause a malfunction, but it will waste space that would otherwise be productive.
When will the last coin be mined?
The schedule of diminishing block rewards has ended. All block now produce minimum block rewards of 100 Signa. See: Block Rewards
How profitable is mining Signum?
Many people mine Signum as a service to the community without considering profitability, just as they might run a 24/7 public node. All of these activities contribute to the stability and continued decentralization of Signum. Signum mining is incredibly inexpensive, especially considering the potential for upward price movement in the future. It is also quite fun and provides a sense of accomplishment as you learn about cryptocurrency and set up your mining operation.
Wallet not reflecting any earnings from mining?
If you are mining solo, you may not have successfully forged a block. If your plot size is relatively small, you will have better luck mining with a pool. If you are already mining with a pool, check the pool’s distribution requirements. Pools may require you to accumulate a certain amount of Signa before making a payout or pay on a set schedule. Check your pool’s website to see if you have an accumulated balance.
How do I see what I have pending?
Become familiar with your pool’s user interface. For most, you can find the information you need by locating your account ID in the list of your fellow miners. Many have a pending column that shows the amount that has been earned but not yet paid. Review your pool’s documentation or contact their support if necessary.
Where can I find additional mining information?
See: Signum Mining
Why are my read times so slow?
If your computer is relatively modern, it may have both USB2 and USB3 hubs. The USB3 hub will provide better performance. For more advanced mining performance information, such as building mining rigs, visit the #pool-help section on Signum Discord.
Effective and actual plot size is different?
Effective capacity is calculated from the frequency and quality of your submitted deadlines. If you have only been mining for a few hours, it will take additional time for your actual capacity to be realized. Your effective capacity on a pool will fluctuate (typically plus or minus 5 percent). Setting a maximum reported deadline on some pools will lead to a better calculation of your effective capacity. Revisit this setting periodically for best results.
If you have overlapping plots, your effective capacity will be lower than expected. See: Plot File Size
Corrupt plots when plotting with a GPU that is also mining other coins?
It is recommended that you dedicate your GPU solely to the task of plotting until plotting is complete. If you attempt to mine other coins with your GPU simultaneously, the plot files you created may be corrupt. Plotting is, by design, a temporary activity.
What mining software should I use?
For stand-alone mining software, Signum Miner is recommended. For an all-in-one solution, BTDEX is recommended. These programs are found in Signum Software.
What is a good source for hard drives?
eBay is a good source for previously owned drives, drives in job lots, and refurbished drives with short or no warranties. Amazon, Best Buy, and Micro Center are popular options for new drives depending on your geographic location. Any retail establishment that stocks hard drives is a good option if the price is competitive.
If I use SSDs (solid state drives) would I earn more?
No. SSDs are currently so much more expensive than regular drives, it is far more profitable to invest in regular drives with a lower price per terabyte. A popular starting point is an external 8 Terabyte drive from Western Digital or Seagate. The difference in price between these drives and a more expensive SSD would be better invested in buying Signum directly from an exchange.
Is any particular model of hard drive preferred?
When given a choice between hard drives of the same capacity, the cheapest is usually best. Divide the cost by the number of terabytes to establish the cost per terabyte and go with the lower price per terabyte option, assuming they are both covered by comparable warranties. 8 terabyte drives are currently the best value among the readily available consumer hard drives, but price differences exist between manufacturers. You can use a portion of your existing computer’s hard drive to get started.
Can I mine on Google drive or cloud-based storage?
Maybe yes, but probably no. It may depend on your service level agreement. You may find yourself blocked for various reasons. Some cloud-based services have terms and conditions that specifically disallow cryptocurrency mining.
What hardware is recommended?
It depends on many variables. Signum can be mined on consumer-grade computers, even those that are many years old. If you want to build a Signum mining rig with capabilities beyond a basic system, you can get recommendations from the community on Signum Discord.
Why do some drives take longer to plot?
SMR drives take an exceptionally long time to plot. If using an SMR drive, start by plotting to an SSD and then move the plot files to the SMR. This will make the process faster. Plotting software that can manage this process automatically has been developed. It can be found here:
If you do not have an SSD for this purpose, then Scavenger or BTDEX is recommended.
Can I mine on NAS (network attached storage)?
Technically yes, however, the results may vary. Mining with NAS is generally slower as it is dependent on network speed between the NAS and the scanning computer. With a plot size over 8 – 16 terabytes, the network speed might become an issue.
Can I mine on multiple machines with one account?
Yes, but be prepared for issues such as your effective plot size being misreported. Be sure that you do not have overlapping plot files.