What is Status (SNT Coin)

snt coin

SNT Coin Price

What is Status Coin? | A Quick Overview

Status coin is an ethereum based coin that brings browsing, chatting, and payments to a decentralized mobile application.

With a marketplace of applications and the ability to move Ether/Status effortlessly, it makes it easy for anyone to use.

The History of SNT Coin

Status was founded by Jarrad Hope and Carl Bennetts in 2016.

They subsequently had their alpha launch on January 5th, 2017 followed by a very successful token sale in July of 2017.

The Founders of Status

Jarrad Hope - Linkedin - Co-founder
Carl Bennett - Linkedin - Co-founder - Github

Status Coin Supply

Total Supply = 6,804,870,174
Circulating Supply = 3,470,483,788

The Purpose of Status Cryptocurrency

Status is meant to be a mobile ethereum based Dapp application.

Instead of reinventing the wheel, they are helping to bridge the gap between mobile and desktop computers.

By using status, a user's mobile phone becomes a light client node. This allows anyone to access the entire ethereum network on their smartphone and interact with Ethereum’s ERC20 applications as well.

Current Highlighted Applications on Status

  • uPort
    • A Self-Sovereign Identity System
  • Gnosis
    • Crowd Sourced Wisdom
  • Oasis
    • Near-instant conversion between ERC-20 tokens and Ether.
  • Ethlance
    • Decentralized Jobs Marketplace with No Fees

These are only a few of many different applications being created and used on the Status network interacting with Ethereum.

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The Features of Status Token

Mobile Decentralized Economy/Community

With the Status network, anyone will be able to find status users, Dapps, and interact with them in the marketplace.

The discover feature allows for the exchange of currencies, services, and ideas.

All in all it's meant to grow awareness to decentralization and the industry.

Smart Private Messaging

Within the chat feature, anyone can send chats or smart contracts instantly.

Using a peer-to-peer protocol that doesn’t rely on servers, this allows every message to inherently be private.

Making those riskier sends a lot less risky.

A Community-Driven Project

Status is completely open source meaning that anyone is free to contribute.

Using their Github anyone can help with the project (Learn more here).

Decentralized Applications On A Mobile App

Running Status allows you to run a light client node.

Any of the Dapps created on Status utilizing the ethereum network can then be downloaded and used via the status marketplace.

This allows anyone to access any Dapps from Ethereum on the mobile app.

Browsing Feature

Status implements a browsing feature to discover new members, chat, and find applications specific to what you are looking for.

Instead of needing to know who to find and where to go, this helps simplify user interaction.

What We Think of Status Network

A mobile way to interact with Dapps is something that is needed in the community.

Will Status be the one?

That’s what we aren’t sure of since many Dapps platforms are coming into view and Status is meant for Ethereum.

Now if Ethereum creates an application inherent to its platform then we may see users driven that way.

All in all, what Status is aiming to achieve is something both noble and great for the community as the majority of users use a smartphone nowadays.

And on top of that most shopping, search, and interaction are via mobile.

Status is something we currently don’t hold but will be monitoring shortly.

If you liked this review and want to help support the academy donate some Status below!

0xfb9AFA847B7f786EB74f6905513D24d8cae03504

myetherwallet-erc20

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February 23rd 2018, 06:05