Status Network is an open source messaging platform and mobile browser that lets you interact with decentralized applications running on the Ethereum network. Here’s our Status review.
What Is Status Network?
Status Network is currently available in Alpha for Android, although an iOS version should be released in the near future. The platform puts decentralized Ethereum-based apps at your fingertips.
Using Status Network, your mobile device becomes a light client node on the Ethereum network, which lets you access Ethereum’s entire ecosystem from anywhere. Anyone can list their decentralized application (DApp) on Status. So far, the platform supports some of the best known DApps, including Gnosis, Oasis Exchange, Ethlance, Aragon, and uPort.
On June 20, Status Network launched its contribution period. During this period, you can contribute using Metamask, MyEtherWallet, Mist, Parity, or imToken, then receive 10,000 SNT in return for 1 ETH. You cannot send ETH from conventional exchanges (like Poloniex, Kraken, or Coinbase). You also cannot send funds from a multi-signature wallet.
How Does Status Network Work?
Status Network is an open source platform that lets you interact with decentralized apps running on the Ethereum network. The platform consists of a messenger and a mobile browser. There’s a combination of a messenger, a web 3.0 browser, and a wallet.
The ecosystem is built around the Status Network Token (SNT), which is an ERC-20 utility token used to fuel the Status Network.
Overall, the goal of Status Network is to build “a next generation socio-economic network that gives anyone in the world with a smartphone the ability to own and control their own data, wealth and digital identity.”
Obviously, Ethereum has given us a whole type of application: decentralized applications that are capable of running autonomously. This is creating a whole new ecosystem. Status has created a way for users to access these decentralized apps.
The main advantage of DApps is that there’s no need for middlemen and centralized servers. Status lets users continue to enjoy these benefits while efficiently managing their organizations.
To interact with apps, Status Network runs go-ethereum directly from your mobile device, which means you get a mobile Ethereum node in your pocket.
Status Network Features
Status’s core features allow decentralized applications to interact with one another as part of this new DApps ecosystem. Here are some of the core features:
This feature lets you find DApps and other Status Network users, allowing you to exchange currency, services, and ideas to push forward the idea of decentralization.
Smarter Private Messaging:
You can send payments and smart contracts to friends from within chats. Status users enjoy encrypted messaging by default, using a peer-to-peer protocol that doesn’t rely on centralized servers.
Community Driven Project:
Status Network is totally open source and is free for anyone to contribute.
Manage Decentralized Apps From Your Fingertips:
Any mobile device can interact with decentralized apps using this app. Status Network runs go-ethereum directly from your iOS or Android device, which means you can access Ethereum’s ecosystem from anywhere.
Multiple DApps Supported:
So far, Status has supported key apps like uPort, Gnosis, Oasis Exchange, Ethlance, Aragon, Etherisc, and Ujo. Since Status is an open source platform, anyone can list their DApp.
Status is currently available in alpha for Android and iOS.
The SNT Token
The Status Network Token is a utility token that plays a crucial role in how you use Status. The ERC-20 token is required for all of the following tasks:
- Governance over the Status Client
- Username Registration over ENS
- Community Curation and Content Discovery
- A Decentralized Push Notification Market
- The Status Teller Network
- The Status Sticker Market
- The Status DApp Directory
- Access to Features like “Tribute to Talk”
- The Status Acquisition Engine
In the future, Status plans to introduce a fiat to cryptocurrency “teller network”. The sale will distribute SNTs for 14 days, or within 24 hours of the first ceiling of 12 million Swiss Francs (CHF).
41% of SNT created during the contribution period will be allocated to the public contributors (anyone who sends ETH to the smart contract address).
10% of SNT will be allocated to Status Genesis Token holders. 20% of SNT will be allocated to the core developers and founders (locked in a smart contract with a 24 month vesting period). And a 29% SNT reserve will be locked for a minimum of 12 months. This reserve may open to allow new contributors at a later date.
About Status Network
Status is led by co-founder and thought leader Jarrad (@jarradh) and co-founder and communications/marketing manager Carl (@carlbennetts).
You can contact the company by email at [email protected] The official Status Network website encourages users to contribute to the project in various ways – like as developers, community managers, specification/documentation, blog writing, outreach/marketing, testers, security, and translations.
You can learn more about how to contribute to Status Network by visiting their website.
The company, which is officially named Status Research & Development GmbH, is based in Zug, Switzerland – which is quickly becoming Europe’s leading blockchain technology region.
Status Network Conclusion
Status Network solves a crucial problem in the Ethereum ecosystem: we have all of these decentralized apps (DApps), but no efficient way to communicate between these apps or manage them remotely. Status Network solves this problem using a mobile app available for iOS and Android (currently in alpha).
The Status Network “Contribution Period” (basically an ICO) launched on June 20. Stay tuned for more information as the platform continues to grow. It seems like it will play a crucial role in the Ethereum ecosystem as we move forward.