Status (SNT) 2018-04-29T16:45:01+00:00

Status (SNT)

Project Description

Purpose

Status SNT is an open source messaging platform and mobile interface to interact with decentralized applications that run on the Ethereum Network. The messenger form-factor is chosen to make Ethereum feel as familiar as possible to the average smartphone user, while providing a flexible platform for DApp developers, aimed to maximize the amount of daily use of Ethereum’s public blockchain.

The Status Network token is a modular utility token that fuels the Status network. This includes a Decentralized Push Notification Market, Governance of the Status client, Community Curation of content, along with social communication tools such as Tribute to Talk. They also propose a fiat-to-crypto ‘Teller Network’, DApp Directory, Sticker Market, and demonstrate their research on a User Acquisition Engine to grow the Network.

Strengths

– It brings blockchain technology to the general public in a very easy to use and intuitive way via mobile

– It has many useful features that you normally would have to use different apps for (messaging platform, DApp directory, wallet, governance, etc.)

– Facilitating fiat-to-crypto on-ramps is one of the biggest challenge that is slowing down adoption. If they can create a better experience than localbitcoin and localethereum they will take a dominant position in the market

 

Weaknesses

– Since Status SNT offers so many features, it needs to have a lot of users actively using all of them for it to be relevant and efficient

– Status will have to gain market shares on already established companies for all the features they offer. Someone that only needs a few of the many features they offer might not want to change to Status since they are already used to other apps.

 

Network Status

The network is not up yet. The Alpha testnet was released in Q4 2016.

 

Roadmap

The Status Beta release is scheduled for March 2018.

 

Governance

A core part of the Status Network Token is giving stakeholders the ability to choose the direction that the software is developed. The token is used to make decisions on proposals, which can be made by any Stakeholder. For each decision, the token is cloned into a separate decision token. The amount of tokens you hold at that time becomes your voting power for that decision and it does not cost status SNT to vote.

Initially, key decisions will be put towards software development. They have created a Github Bounty bot, Commiteth, which allows them to decentralize and incentivize open source software development, by enabling anyone to create bounties for any Github Issue. These can then be paid to the developer upon submitting code that is successfully merged into the codebase by the Project Maintainer.

 

Similarities

Status is similar to Toshi, a product developed by Coinbase and that does not have a token, since they both offer a private and secure messaging app, a user controlled Ethereum wallet and a browser for Ethereum apps.

 

Notable partnerships

Status has a partnership with the blockchain smartphone company, Sirin Labs, to be embedded in all their phones.

 

Exchange

Status SNT is traded on Upbit, Bittrex, Bitfinex, Binance, Huobi and HitBTC.

 

Stack

Status is an application layer built on top of the Ethereum blockchain.

 

Community

Reddit: 5 052 subscribers
Twitter: 76k followers

 

Status SNT Price history

Jan-30-2018: 0.27 USD
Dec-2017: 0.059 USD
Sept-2017: 0.047 USD
July-2017: 0.043

 

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This document is intended for informational purposes only. The views expressed in this document are not, and should not be construed as, investment advice or recommendations.

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