ERC20 Tokens

ERC-20 Tokens

Most ERC-20 operations are supported without the need for smart contracts.

Global

Signum’s global reach makes its platform perfect for local and international business.

Affordable

Create tokens on the Signum Network for a low fee of 1,000 Signa.

Exchange

Signum’s decentralized exchange provides an initial market for tokens through its classic wallet.

Generate

Create fungible tokens with only a few clicks to define the symbol, supply, and decimals.

Fungible

Tokens are immediately available for transfer, sale, and exchange after creation.

Fungible Tokens

Signum’s fungible tokens are based on the concept of colored coins.  In an abstract sense, coloring is a simple tagging technique used to allow distinction, thus coexistence, of various class instances in a common data context.  Coloring is a process that attaches metadata to transactions, thereby leveraging infrastructure to issue and trade immutable digital assets that represent real-world assets.

Relating to Signum’s implementation, the concept of colored coins refers to a method for tracking the origin of coins so that certain coins can be set aside and conserved, allowing a party to acknowledge them in various ways.  Signum tokens can represent arbitrary digital tokens, such as stocks, bonds, or property. They can even represent real-world objects.

Tokens can be traded on the Signum network or exchanged for whatever object the token represents.

This concept of colored coins forms the basis for the Signum Asset Exchange, an exchange protocol built into Signum’s codebase.

For an excellent white paper on the concept of colored coins, as written for the Signum project, see https://bitcoil.co.il/BitcoinX.pdf.

ERC20 Protocol

ERC20 is a popular Ethereum standard for token management, explained here https://github.com/ethereum/EIPs/issues/20.

Signum’s Asset Exchange functionality natively supports most of the ERC20 operations without the need to issue a smart contract.

This document explains how to implement the ERC20 APIs using the equivalent Signum APIs.

Issuing tokens

  • Each ERC20 token is represented as a Signum asset.
  • Issue the asset using the issueAsset API.
  • Each asset is identified by a unique asset id set to the transaction id of the issueAsset transaction.

For more details, see The Signum API.

Implementing the ERC20 APIs

Total Supply

To get the total supply of an asset, invoke the getAssetAPI and supply the asset id.  Total supply is provided by the initialQuantityQNT attribute.  The existing supply, after possible share deletes, is specified by the quantityQNT attribute.  Quantity values are always provided as integer values.  The number of decimal positions to apply to these quantities is specified by the “decimals” attribute.

Balance Of

To get an account balance, invoke the getAssetAccounts API and provide the Signum address as the account parameter and the asset id as the asset parameter.

The unconfirmedQuantityQNT attribute in the response represents the current account balance. The quantityQNTattribute represents the quantity available for use when considering the balance locked by open asset orders.

Transfer Asset

To send tokens from one account to another, use the transferAsset API, specify the recipient address, the asset id, and the quantity to transfer as well as your account passphrase, the transaction fee, and transaction deadline.  The transferAsset transaction is recorded on the Signum blockchain. You can later track token transfers using the getAssetTransfers API.

For examples, see the Signum API.

10 + 12 =

Share This