Status Coin: A Smart Investment Decision?

Status (SNT) is an Ethereum-based token that powers the Status Network, a decentralised platform that combines a mobile and desktop operating system with a browser and a messaging system. It was founded by Carl Bennetts and Jarrad Hope and released in June 2017. The platform uses Status Network Tokens (SNT) as its native currency. So, is Status coin a good investment?

Status' features and use cases

Status is a decentralised platform that combines a mobile and desktop operating system with a browser and a messaging system. It is designed to interact with the Ethereum network, providing users with access to Ethereum's decentralised applications (DApps) from a mobile or desktop device. Status is an open-source platform that provides users with the capability to send encrypted messages, make payments, and utilise smart contracts. The platform uses Status Network Tokens (SNT) as its native currency.

Status has a variety of features and use cases, including:

• Messaging Platform: Status can be used as a messaging platform, allowing users to send and receive encrypted messages on a peer-to-peer basis. This includes the ability to send payments and smart contracts to recipients within the chat.
• Access to DApps: Status provides access to over 2,000 DApps, enabling users to interact with these applications directly from the platform. This includes a range of decentralised applications and chatbots.
• Mobile Interface: Status can be used as a mobile interface for the Ethereum blockchain, facilitating the adoption of Ethereum DApps.
• Web3 Browsing: Status allows users to browse through Web3, where end-user data and browsing information are not accessed by any third parties, ensuring privacy and security.
• Cryptocurrency Wallet: Status includes a built-in cryptocurrency wallet, allowing users to send, store and receive cryptocurrencies and tokens within the Status wallet. The private keys are never exposed, ensuring the security of the user's assets.
• User-as-Stakeholders Network: Status features a user-as-stakeholders network, where the behaviour of the network and its software aligns with the interests of a specific user. This allows users to have a say in the direction of the software's development and provides them with a stake in the network.
• Security: Status employs various security measures to protect user data and communications. This includes end-to-end encryption, a locally generated cryptographic key pair for user identity, and a non-custodial wallet for storing cryptocurrency.
• Sticker Market: Status includes a sticker market, which can help drive user engagement on the platform, particularly in Asian countries where sticker sales are a significant source of revenue for messaging apps.

Status' founders and history

Status, the mobile and desktop operating system and decentralised browser, was founded by Carl Bennetts and Jarrad Hope. The two ran a software distribution company prior to founding Status. They had previously worked together for over six years on various projects, three of which were spent operating a software distribution network that drove over 20 million installs. All the profits from this venture were used to fund future projects.

Bennetts and Hope were in a unique position to see how personal data on the internet is bought and sold, and how users are acquired and retained. This experience informed the founding of Status, which allows users to interact with a network at any time, from anywhere, and send encrypted messages.

Status, or SNT, is an open-source messaging platform and mobile interface that allows users to interact with DApps running on the ETH blockchain. Users can send and receive encrypted messages on a peer-to-peer basis, make payments, and utilise smart contracts. The network uses Status Network Tokens (SNT) as its native currency.

Status' current market performance

Status (SNT) is an Ethereum token that powers the Status Network, a decentralised platform that combines a mobile and desktop operating system with a browser and a messaging system. The platform uses Status Network Tokens (SNT) as its native currency.

The current live price of Status is $0.021524 USD, with a 24-hour trading volume of $2,226,118 USD. Status is down 0.43% in the last 24 hours, and its price has decreased by 22.99% in the past week. The current market cap of Status is $76.06M, and its all-time high was $0.68. The circulating supply of Status is 3,904,494,792.172 SNT, with no maximum supply available.

Status is ranked #218 among tradable assets on Coinbase, where 67% of users are buying. On Twitter, 44.44% of tweets about Status have bullish sentiment, compared to 17.59% with bearish sentiment. On Reddit, Status was mentioned in 0 posts and had 0 comments.

Status' competitors

Status.im is a mobile and desktop operating system and decentralised web browser that runs on the Ethereum network. It allows users to send encrypted messages, make payments, and access decentralised applications, including a cryptocurrency wallet.

Status has a few competitors in the market, including:

• Tenfold: aggregates all business data, including sales, service, and marketing, into a unified view that users can access in real time.
• Salesforce Mobile Studio: helps businesses reach customers on any device by personalising mobile messaging with SMS marketing, push notifications, and group messages.
• Statbot: gathers reports on acquisition, engagement, retention, segments, tags, and customer service based on historical data from Intercom.
• AnswerConnect: provides live call answering and customer support services.
• KANA Express: provides multichannel customer service and end-to-end customer experience management for mid-sized companies.
• ItsAlive: a chatbot builder that enables users to create, publish, and manage Facebook Messenger chatbots.
• FrontDeskAI: a 24/7 front desk for local businesses via text and chat, which can respond to phone calls and offer information and reservations.
• Statusfy: an open-source status page system that is easy to use and deploy.
• Stashboard: a status dashboard for APIs and software services.

Status Labs, a leader in digital reputation management, also has a competitor in Digital 86.

Status' security measures

Status (SNT) is a decentralised platform that combines a mobile and desktop operating system with a browser and a messaging system. It is designed to interact with the Ethereum network, providing users with access to Ethereum's decentralised applications (DApps) from a mobile or desktop device. Status is an open-source platform that provides users with the ability to send encrypted messages, make payments, and utilise smart contracts.

Status seeks to facilitate the adoption of Ethereum DApps and align the behaviour of its network and software with the interests of its users. It operates as a light client Ethereum node, providing users with access to all Ethereum DApps from an installed app on their mobile phone or tablet.

The platform uses Status Network Tokens (SNT) as its native currency. SNT is an Ethereum token that powers the Status Network. It is used to reward network validators and is required for certain actions such as registering user names and voting on the future of the network.

Status places a strong emphasis on security and privacy, with the following security measures in place:

• End-to-end encryption: Status employs end-to-end encryption to ensure that messages and communications on the platform remain secure and confidential. This prevents unauthorised access and ensures that only the intended recipients can read the messages.
• Locally generated cryptographic keypair: Each user's identity in Status starts with a locally generated cryptographic keypair, which is protected by a password. This provides a secure and unique identifier for each user, ensuring the integrity and privacy of their communications.
• Non-custodial wallet: Status offers a non-custodial wallet for storing cryptocurrencies. This means that users retain full control over their private keys, which are never exposed or stored on any central server. This reduces the risk of theft or loss of funds.
• Signing phrase protection: Status implements a signing phrase mechanism to protect users from phishing attacks. This additional layer of security helps users verify the authenticity of the platform and safeguard their information.
• Waku protocol for peer-to-peer communication: Status utilises the Waku protocol for peer-to-peer communication. Waku relies on a decentralised network of peers to route messages securely and privately, further enhancing the security and privacy of user communications.
• Perfect forward secrecy: Status incorporates perfect forward secrecy, built on the X3DH and Double Ratchet specifications from Open Whisper Systems. This provides additional protection for user communications, ensuring that even if one message is compromised, others remain secure.

Frequently asked questions