I was looking into how Sign started because I wanted to see if it was just another new coin. I found out it actually began at a hackathon called ETHWaterloo in 2019. Back then they were called EthSign. It is pretty cool to see a project go from a small contest to something that governments are now looking at. The founders like Xin Yan and Jack Xu have been working on this for about 6 years now, which is a long time in the crypto world.
What I noticed that makes them different is that they are not just making a small app. They are building what they call sovereign digital infrastructure. To me, that just means the basic pipes for a country to run its digital life. I saw they focus on three things: digital money, digital ID, and how a government sends out benefits or grants. They want to make sure every action has a digital proof called an attestation so nobody can cheat the system.
I also checked their funding and it is quite big. They raised around $55M from massive names like Sequoia Capital and Binance Labs. I think when you see names like that, it means the project is very serious. Sequoia does not usually put money into things that do not have a real plan.
Now let's talk about the $SIGN token. I saw the total supply is 10B and about 1.8B are in the market now. It is used for paying fees to verify data and for staking. I found it interesting that the team did a $12M buyback recently. Usually, teams are selling, so seeing them buy back their own token makes me think they really believe in the long term value.
I believe their focus on the Middle East is a smart move. I saw the founder on Saudi TV recently talking about their work with the Abu Dhabi Blockchain Center and even Pakistan. It is not every day you see a crypto project getting this much attention from national governments. I feel like if they can prove this works for one or two countries, it could really change how we all use digital IDs and money in the future.