Status

SNT
-2 % (24hr)

$ 0.0145182959

❝ Status is a next-generation social media platform which facilitates the exchange of a cryptographic asset, send encrypted private messages and manage smart contracts. It also allows anyone to programme and list their DApps on the platform. ❞
Market Cap

$ 50.39M

Current Supply

$ 6.805B

Max Supply

$ NA

24hr Volume

1.831M

Proof

PoS

website

Visit

Overview

Status is an open source platform based on Ethereum blockchain which serves as a messenger, browser and gateway to allow users to have access to DApps on their mobile devices. DApps or Decentralized application can be compared to an app store where users can search for an application based on the Ethereum blockchain. The status will allow users to design application via smart contracts while being connected to the peer-to-peer network and also exchange data through the decentralised network.

Status provides the seamless way to interact and interface with a full bouquet of decentralised applications and services while lowering the entry barrier on Ethereum for users. Status lists itself as the next generation social media and internet getaway based on the Ethereum blockchain.

Key Problem Status Wants to Solve

The key problem Status wants to address is the different identities of users spread all over the internet in form of different users id, password, user history which are managed by the centralized authority. Status aims to create a digital hub where users can use various services based on Ethereum blockchain's smart contract.

Features of Status 

eWallet: Through Status eWallet service you can safely store ETH and also trade or use it as a means of payment and other Ethereum based crypto-assets.

Browse Decentralised Apps: Users can explore next generation of apps or DApps at fingerprint through mobile devices, enabling you to access Ethereum's entire ecosystem from anywhere. Users can browse through uPort, Gnosis, Oasis Exchange, Ethlance, Aragon, Etherisc, Ujo. Being an open source platform anyone can list their DApp.

Smart Private Messaging: Status allows users to send, receive payments and smart contracts while enjoying the benefit of encryption by default using the peer-to-peer network protocol.

Discover: Through discover feature, users can find DApps and other Status users and also facilitate the exchange of digital currency, services and ideas thus helping in the growth of decentralization of transactions. 

Token Utility

SNT is the token of Status and has the following functionality.

  • Username registration over Ethereum name service (ENS)
  • Governance of the status clients
  • Community curation and content discovery
  • A Decentralized Push Notification Market
  • The Status Teller Network, Sticker Market & DApp Directory
  • Access to features such as Tribute to Talk
  • The Status Acquisition Engine (Research)

Founding Members and History

Status is based on Switzerland and is owned by Status Research & Development GmbH and by its contributors who buy its token SNT (Status Network Token). Carl Bennetts and Jarrad Hope are the co-founders of the platform.

In its ICO, Status is believed to have raised more than $100 million but has not mentioned a hard cap on the total supply of tokens. Of the total supply, 41 percent will go to the public contributors, 29 percent will be reserved for future stakeholders, 20 percent is reserved for core developers, and 10 percent to Status Genesis (SGT) token holders.

Conclusion

Status is a next-generation social media platform which facilitates the exchange of a cryptographic asset, send encrypted private messages and manage smart contracts. It also allows anyone to programme and list their DApps on the platform. 

Key Links

Website: https://status.im/

White Paper: https://status.im/whitepaper.pdf