Name: STATUS - Browse, Chat, and Make Payments On The Ethereum Platform
Price Info: - https://coinmarketcap.com/currencies/status/
Status is a tool where you can safely store your Ether and ERC20 tokens, a browsing tool to find and use Ethereum dApps as well as also listing your own. You can also trade Ether and its tokens directly with other users. It comes with a fully decentralized and encrypted messaging system too.
Designed as a decentralized browser and private messenger, Status allows you to connect to the entire Ethereum network right in the palm of your hand.
Operating as a light client node on Ethereum, Status provides you access to all of Ethereum’s decentralized applications (dapps) through an app on your smartphone. It opens the door to mass adoption of Ethereum dapps by targeting the fastest growing computer segment in the world – smartphone users.
Smartphone users will quickly realize that utilizing Ethereum and its dapps has never been so easy and convenient.
Status project is described as producing a 'light' client for the Ethereum blockchain that is intended to provide a smart device access to the blockchain. In one view the Status cryptocurrency can be viewed as being the use token of the community building a DApp (distributed application) that intends to produce and support an interface to the Ethereum blockchain.
What makes this project interesting is twofold; first the 'light Ethereum client' is exactly a technology fit for current market conditions, and their approach in community building is linguistically supported by all their literature and discussions.
The Status application is currently available for both Android and iOS. To download on an Android device, simply search and download Status from the Google Play store.
Downloading it on your iPhone takes a few extra steps; the application hasn’t made it to the Apple App Store just yet. To download, just head over to Status’s website and follow the directions its homepage.
In December 2017, Status joined the Ethereum Alliance, the world’s largest open-source blockchain initiative.
The Status Network is open source and free; everyone is encouraged to help build the future of the platform and the decentralized apps that run in its ecosystem.
The Status Network Token (SNT)
The Status Network Token is a modular utility token that fuels the network. By default, Status is free to use and communicate with, but you need SNT to access certain features of the Status Mobile Ethereum Client.
Users that hold SNTs will also be able to steer the direction of development and influence how the network evolves.
On Status, users are currently identified by a SECP256k1 public key. The team is now working with Nick Johnson, co-creator of the Etherenum Name Service, to create a username-to-SECP256k1 public key resolver on the Etherenum Name Service that allows stakeholders to register usernames on the application.
To eliminate spam accounts, Status has made a policy that only accounts holding SNTs will be able to reserve a username. Similar to how Twitter recognizes verified accounts with badges, Status will give its users the ability to receive a badge that indicates the account is trustable.
To receive a badge, Status stakeholders will have to deposit SNT against usernames at a premium. Badges will indicate the amount of value or number of backers associated with the account.
Quick overview of Status’s implemented features listed from its whitepaper. Decentralized Push Notification Market
Status’s Decentralized Push Notification Market comes with both pros and cons to the end user.
Unlike competitors who offer “free” push notifications on their social network, Status doesn’t profit from ads or by selling customers’ information to retailers.
Status believes in giving you a choice in all matters, hence the reason why you’ll be charged microtransactions for notification and storage. Governance
In legacy social networks, users have little influence over how the network evolves over time. Status breaks the mold by giving its stakeholders direct influence over all decisions in the network including software development.
Any SNT holder can make a decision proposal on the network.
Status Voting Protocol
For every decision to be made on the network, the user’s SNTs are cloned into separate decisions tokens.
The number of SNTs held by the user will be directly proportional (1:1) to the number of decision tokens that user receives.
It does not cost any SNTs to vote on proposals.
Similar to how users can upvote or downvote content on Reddit, Status users have the ability to opt-in to curate the content that’s displayed on their application. This process of approving or disapproving content on Status is known as “signaling”.
Unlike Reddit where all users are given one equal vote to curate content, Status determines member vote strength by an algorithm that is mostly influenced by the number tokens held by an account. Tribute to Talk
Stakeholders are able to set a minimum amount of SNT that a Status user must deposit as a tribute for someone outside of their network to contact them.
To message a stakeholder, a user must first deposit the required amount of SNT declared by the “Tribute to Talk” recipient. If the recipient replies to message, the recipient will also receive the deposited tributed amount posted by the original messenger.
Their roadmap is unclear about the near future, but their FAQ lays bare their long-term plans: a decentralized messaging system, a social network with hashtags, dApp directory (akin to Play Store or App Store, for example), research tools, and more.
It remains to be seen whether the community can maintain the effort long enough to dominate the niche in the playing field, but it seems that initial success, both with the coin offering, and their product service niche identification are very promising. Further examination reveals that they have two of the four required criteria for effective technology introduction, with some hints that they may develop towards an effective complete technology.
The technology niche is wanting for just such a product, and it has potential for both internal expansions as a product category, as well as extra-niche product harmonization.
Easily Calculate or Convert SNT to US Dollars(USD), Euro(EURO) or Great Britain(GBP) Pounds and other World currencies below.
Our Crypto Converter makes this as easy as a breeze.