$0.0272

Status functions as both a mobile and desktop operating system and a decentralized browser with integrated messaging capabilities. This allows users to interact with the network anytime, anywhere. Launched in June 2017, it operates as a light client Ethereum node, granting access to all Ethereum decentralized applications (DApps) directly from a mobile app. Users can send encrypted messages and utilize various DApps, including a cryptocurrency wallet.

Status was co-founded by Carl Bennetts and Jarrad Hope, who previously ran a software distribution company together. They had collaborated on various projects for over six years, with three of those years dedicated to a software distribution network that generated over 20 million installs across multiple software products. Profits from this venture funded their subsequent projects, and during this time, they observed how personal data is bought and sold online, influencing user acquisition and retention strategies.

Status is an open-source messaging platform and mobile interface that enables users to interact with DApps on the Ethereum blockchain. This provides access to over 2,000 DApps, peer-to-peer encrypted messaging, payments, and smart contracts. The platform uses Status Network Tokens (SNT) as its native currency. Status aims to accelerate Ethereum DApp adoption. Additionally, it employs a users-as-stakeholders model to align network behavior with user interests, with contributors researching crypto-economic models and peer-to-peer technologies to maintain a healthy network.

As of February 2021, the circulating supply of Status (SNT) is approximately 3,470,483,788 SNT, with no maximum supply cap. The market capitalization is around $187,525,492. SNT is an ERC-20 token used to access and power decentralized services within the Status Network. The project is open-source and verified by the Messari Disclosures Registry, allowing anyone to utilize it for their specific needs.

The Status network aims to be a fully decentralized communication tool, eliminating third parties and reducing attack vectors. Messages are uncensored and can be pseudo-anonymous if chosen. The Status wallet allows sending, storing, and receiving cryptocurrencies without exposing private keys. Web3 browsing ensures user data is not accessed by third parties. User identity is based on a locally generated cryptographic keypair protected by a password. Status uses the Waku protocol for peer-to-peer communication, with end-to-end encryption and perfect forward secrecy based on X3DH and Double Ratchet specifications. The non-custodial wallet includes a signing phrase to guard against phishing.

Status Network Token (SNT) is a modular utility token that powers the network. While communication is free, SNT is required to access features of the Status Mobile Ethereum Client. Top exchanges for buying, selling, and trading SNT include Bittrex, OKEx, ZG.com, BiONE, Upbit, and Bithumb. For beginners, a step-by-step guide is available to learn about cryptocurrency and how to make their first purchase.