Signum SIGNA: Hard Fork
The upcoming hard fork “Rainbow” at block 1,029,000 (around 25th of June 2022) will introduce new features framework for the existing token functionality and boost the current token setup to a smart token solution on Signum. By introducing Cashback and a multiverse setup we support upcoming use-cases based on the Signum technology.
What is a hardfork?
The cryptocurrency mainnet operates according to certain rules. To improve network performance or correct errors, changes are periodically introduced into it. A hard fork represents changes that are not compatible with previous versions of software supporting the cryptocurrency network. In order to continue to mine the cryptocurrency, miners need to update the software.
In some cases, as a result of a hard fork, a completely new cryptocurrency may appear, as happened with Bitcoin Cash and EthereumPoW.