Status SNT

1. Summary

Fundamental Rank

95

Developer Rank

99

Social Rank

97

Coinrank

98

Buy

Binance

Earn

BlockFi

Price

$0.04 -8.5%

Market Cap

$156.56M (#139)

Supply

3.88B / 6.80B

Tags

Software

Description

Status is essentially an ecosystem that consists of a dApp browser alongside a messenger, that provides users with a gateway through which they can access the decentralized world. You can view it as an interface through which you can interact with dApps, all of which are running on the Ethereum blockchain. If you’ve ev...

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Status is essentially an ecosystem that consists of a dApp browser alongside a messenger, that provides users with a gateway through which they can access the decentralized world. You can view it as an interface through which you can interact with dApps, all of which are running on the Ethereum blockchain. If you’ve ever used the AppStore or the Play Store, the chances are high that you are familiar with, or can visualize how this works, however, the difference here is the fact that it is fully built on peer-to-peer technology.

Every user can access, browse and interact with thousands of dApps, send as well as receive encrypted P2P messages, use it for payments as well as smart contracts, and store and control private crypto-assets within the Status wallet.

The SNT Token Explained

The Status Network Token (SNT) is required for features of the network to work. The network becomes aligned with the interest of the users that actually hold SNT.

SNT holders can send and receive encrypted messages, smart contracts, and payments, and they can also browse and chat on web3 dApps, which means that they’ll also be able to store and manage crypto-assets through the Status wallet. The interesting part here is that SNT users receive voting power which is based on the tokens they hold, and they can make decisions that affect the entire network. Keep in mind that it does not cost any SNT to vote.

For every proposal and voting, SNT tokens are cloned into voting ballots, and the more SNT you hold, the greater power you have in terms of voting.

Features of Status

Status is designed to interact with dApps on the Ethereum network. It also functions as a messaging platform as well as a web3 browser, and anyone can use the status app for free trade, P2P payments, and encrypted P2P communication. The platform utilizes Whisper V5 protocol in order to delegate nodes and support a decentralized chat.

Status is a community-driven application, where SNT holders can propose solutions, vote, and make decisions regarding the development of the Status software as a whole.

Then there is also the users-as-stakeholders network that allows the behavior of the network, as well as its software, to become aligned with the interest of specific users. This means that the contributors conduct research on the crypto-economic model as well as the peer-to-peer technologies to ensure a solid Status Network. Messages aren’t blocked or censored, and they are pseudo-anonymous when the user ends up selecting this as an option.

Founders of Status (SNT)

The Status Network has two founders.

One is Carl Bennets, and the other is Jerrad Hope.

Both of them ran their own software distribution company before starting this project. In fact, they worked together for six years on different projects, where three of those years were dedicated to opening a software distribution network that actually gained 20 million installs throughout different software offerings, and the interesting part here is the fact that all of the profits were used to fund their future projects.