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Summary of Status (SNT)
Overview
- Status is a mobile and desktop operating system and decentralized browser with a messaging system.
- Allows users to interact with the Ethereum network and access decentralized applications (DApps) from a mobile app.
Founders
- Founded by Carl Bennetts and Jarrad Hope, who previously ran a software distribution company.
Unique Features
- Open-source messaging platform and mobile interface for interacting with Ethereum DApps.
- Allows users to send encrypted messages, make payments, and utilize smart contracts.
- Uses Status Network Tokens (SNT) as the
About Status: Empowering a Decentralized Future
Introducing Status (SNT): A Decentralized Messaging Pioneer
Status is a multifaceted platform that converges as a mobile and desktop operating system, as well as a decentralized browser, seamlessly integrating a messaging system. This synergy enables users to engage with the network at their convenience, from anywhere, at any time. Initially launched in June 2017, Status has been continually evolving to redefine the boundaries of decentralized communication.
As a lightweight Ethereum node, it empowers users to seamlessly access a vast array of decentralized applications (DApps) directly from a mobile app installed on their smartphone or tablet. This innovative solution enables users to send encrypted messages and utilize a diverse range of decentralized applications, including a cryptocurrency wallet.
The Visionaries Behind Status: Meet the Founders
The Status network was co-founded by Carl Bennetts and Jarrad Hope, who previously operated a software distribution company together.
With a collaborative history spanning over six years, they had worked together on numerous projects, including a three-year stint operating a software distribution network that yielded an impressive 20 million-plus installs across multiple software offerings. The profits generated from this venture were reinvested to fuel their future endeavors. Throughout this period, they occupied a privileged vantage point, affording them a unique insight into the internet’s personal data economy, where user information is commodified and traded, and the tactics employed to acquire and retain users.
Unveiling the Unparalleled Status: A Trailblazer in the Cryptoverse
Status, or SNT, is an open-source, decentralized messaging platform that doubles as a mobile interface. This intuitive interface enables users to seamlessly interact with decentralized applications (DApps) running on the Ethereum (ETH) blockchain. In return, users gain access to a vast ecosystem of over 2,000 DApps, allowing them to send and receive encrypted messages on a peer-to-peer basis, make payments, and leverage smart contracts.
The network itself utilizes Status Network Tokens, or SNT, which serve as the native cryptocurrency on the platform. The overarching objective of Status is to facilitate the seamless and expedited adoption of Ethereum decentralized applications (DApps).
Furthermore, a decentralized network of users-as-stakeholders is established, ensuring that the network’s behavior and software development align with the interests of its users. Through rigorous research on crypto-economic models and the implementation of peer-to-peer technologies, the contributors strive to maintain a thriving Status Network.
What Is the Circulating Supply of Status (SNT) Coins?
The current circulating supply of Status, denoted by its ticker symbol SNT, stands at 3,470,483,788 SNT, with no predetermined maximum supply cap. As of February 2021, the market capitalization is approximately $187,525,492 USD.
SNT is an ERC-20 token that facilitates access to and powers decentralized services within the Status Network. As an open-source project, it can be tailored to meet specific needs, and its legitimacy is substantiated by the Messari Disclosures Registry.
The Security Architecture of the Status Network
At its core, the Status network strives to become a genuinely decentralized communication platform, ultimately aiming to eliminate intermediaries and mitigate potential vulnerabilities that could be exploited by malicious entities over time.
Unfettered by censorship or blocking, messages can be sent with the option of pseudo-anonymity. Furthermore, the Status wallet facilitates the seamless sending, storing, and receiving of cryptocurrencies and tokens, all while ensuring the private keys remain securely protected and never exposed.
In the realm of Web3, your personal data and browsing history remain entirely private, shielded from prying eyes and inaccessible to third-party entities.
In Status, a user’s identity is rooted in a locally generated cryptographic keypair, safeguarded by a password. The platform also leverages the Waku protocol, facilitating peer-to-peer (P2P) communication, which in turn relies on a decentralized network of peers to route messages between one another.
By design, it boasts end-to-end encryption, complemented by perfect forward secrecy, leveraging the robust X3DH and Double Ratchet specifications pioneered by Open Whisper Systems. Furthermore, cryptocurrency storage is facilitated through a non-custodial wallet, while a signing phrase serves as an additional safeguard against phishing attacks.
Acquiring Status (SNT): A Comprehensive Guide to Exchanges and Marketplaces
The Status Network Token serves as a multifaceted utility token, empowering the network as a unified entity. While it is free to utilize and interact with the network, accessing advanced features of the Status Mobile Ethereum Client necessitates the possession of SNT.
Prominent cryptocurrency exchanges for acquiring, exchanging, and trading Status (SNT) tokens include:
Bittrex, a stalwart in the realm of cryptocurrency exchanges, has established itself as a premier platform for trading a diverse array of digital assets.
OKEx, a premier digital asset exchange,
ZG.com, a pioneering digital asset trading platform, is dedicated to providing a secure, reliable, and efficient trading experience for users worldwide.
Bione
Upbit, along with other prominent cryptocurrency exchanges,
Bithumb, a prominent cryptocurrency exchange,
Embark on a journey to demystify the realm of cryptocurrency with this comprehensive, step-by-step guide, expertly crafted to introduce you to the world of crypto and walk you through the process of acquiring your inaugural coins.
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