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Status

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03:31

Description

What does Status do?

Status aims to be the browser of Ethereum dApps. The project offers a mobile application available on both the iOS and Android platforms. Within the Status application, users can manage their crypto assets, chat privately, and explore dApps built on Ethereum.

The fact that they have an initial functional product is a big deal in the crypto industry, given the complexities of most projects. With the goal of offering an easy-to-use interface that lets the world access Ethereum dApps just as easily as traditional applications, they hope to be the de facto application for interacting with the Ethereum ecosystem.

Status also offers an interesting governance system. When proposals are made to the network, users can convert their SNT (Status’s native token), into voting tokens. Voting on proposals or converting SNT has no fee associated with it. Democratizing decentralized networks to let each user have a voice is a major headache for developers, and Status has created an interesting solution to this.

How does SNT work?

Aside from being a means of exchange, SNT has a couple of other use cases. As previously mentioned, users can convert their SNT to voting tokens so that any user can vote on network proposals. This allows invested users to have influence over the future development and overall direction of Status.

Additionally, accessing some features of the Status mobile client requires SNT. As they move forward with development and offer more features, SNT will have more practical uses.

How can SNT appreciate in value?

Status is aiming to be the browser of Ethereum, which means they are representing virtually every dApp being built on the network. As dApps gain in popularity, users will need SNT to access different features and browse for dApps on the Status application. Additionally, another effect of increased dApp creation means that more users will want SNT to have a voice in the direction of SNT. All of this boils down to demand for SNT outweighing the supply.

What are the differences between Status and its competitors?

Fortunately for Status, there is not much notable competition. One project that potentially has a conflict of interest with Status is Substratum. Substratum aims to be the decentralized web, but they want to expand past Ethereum. Substratum is also not as focused on offering a practical mobile application, like Status is.

Status has a working product that already has listed dApps. Both of these projects are in their early stages, so it is difficult to say if one project is clearly ahead of the other.

  • Mainnet Launch: No
  • Open Source: Yes
  • Consensus Type: No details about the consensus mechanism
  • Technology: Blockchain (Ethereum’s)
  • Total Coin Supply: 6,804,870,174 SNT
Reward
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REWARD
REWARD
score: 0 /100
Risk
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RISK
RISK
score: 0 /100

Our opinion

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Overall Rating 0.00

Idea
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Innovativeness

Is the project solving a new problem?

Feasibility

Is the project’s solution realistic?

Clarity

Does the project’s message make sense?

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Team
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Core Members

How experienced and skilled are the team members?

Commitment

Are any key members involved in other projects?

Advisory Board

Is the project advised by anyone notable?

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Market & Competition

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Awareness
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Attention

Is the project on the public’s radar?

Hype

Is the general opinion of the project positive or negative?

Community

Is the project supported by a large number of crypto enthusiasts?

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Coin Utility
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Usefulness

Is the project’s native currency needed for key features?

Versatility

Does the native currency have a number of different uses?

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Our opinion

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Description

What does Status do?

Status aims to be the browser of Ethereum dApps. The project offers a mobile application available on both the iOS and Android platforms. Within the Status application, users can manage their crypto assets, chat privately, and explore dApps built on Ethereum.

The fact that they have an initial functional product is a big deal in the crypto industry, given the complexities of most projects. With the goal of offering an easy-to-use interface that lets the world access Ethereum dApps just as easily as traditional applications, they hope to be the de facto application for interacting with the Ethereum ecosystem.

Status also offers an interesting governance system. When proposals are made to the network, users can convert their SNT (Status’s native token), into voting tokens. Voting on proposals or converting SNT has no fee associated with it. Democratizing decentralized networks to let each user have a voice is a major headache for developers, and Status has created an interesting solution to this.

How does SNT work?

Aside from being a means of exchange, SNT has a couple of other use cases. As previously mentioned, users can convert their SNT to voting tokens so that any user can vote on network proposals. This allows invested users to have influence over the future development and overall direction of Status.

Additionally, accessing some features of the Status mobile client requires SNT. As they move forward with development and offer more features, SNT will have more practical uses.

How can SNT appreciate in value?

Status is aiming to be the browser of Ethereum, which means they are representing virtually every dApp being built on the network. As dApps gain in popularity, users will need SNT to access different features and browse for dApps on the Status application. Additionally, another effect of increased dApp creation means that more users will want SNT to have a voice in the direction of SNT. All of this boils down to demand for SNT outweighing the supply.

What are the differences between Status and its competitors?

Fortunately for Status, there is not much notable competition. One project that potentially has a conflict of interest with Status is Substratum. Substratum aims to be the decentralized web, but they want to expand past Ethereum. Substratum is also not as focused on offering a practical mobile application, like Status is.

Status has a working product that already has listed dApps. Both of these projects are in their early stages, so it is difficult to say if one project is clearly ahead of the other.

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