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Recent Price action
The recent price action of Status (SNT) shows significant volatility, with a notable price increase within the last 24 hours. Status (SNT) currently stands at approximately $0.054, which represents a substantial 83% increase in the last 24 hours.
What is Status?
Status (SNT) is a multifaceted platform with its roots deeply embedded in the Ethereum blockchain, aiming to revolutionize user interaction with this network on mobile platforms.
Here are some detailed insights into Status (SNT):
- Status serves as a mobile and desktop operating system, coupled with a decentralized browser that integrates a messaging system. It's designed to facilitate interaction with the Ethereum network at any time, from any location.
- It operates as a light client node on Ethereum, granting access to all of Ethereum's decentralized applications (DApps) through a smartphone app, thereby aiming to spur mass adoption of Ethereum DApps among smartphone users.
- Status is also an open-source messaging platform and mobile interface allowing users to interact with DApps running on the Ethereum blockchain, similar to how Play Store and App Store operate for Android and iOS applications, respectively, albeit on peer-to-peer (P2P) technologies.
- The platform utilizes its native token, Status Network Token (SNT), as a modular utility token to fuel the network. Although Status is free to use and communicate with, SNT is required to access certain features of the Status Mobile Ethereum Client. Moreover, SNT holders have the ability to guide the development direction and influence how the network evolves.
Social Networking and User Empowerment:
- Unlike traditional social networks that centralize power among owners and advertisers, Status aims to redistribute power to its users through the issuance of Status Network Tokens (SNT), transforming users into stakeholders who can vote on the platform's future development.
- The platform promotes a concept of community curation similar to upvoting or downvoting content on Reddit, but with vote strength determined largely by the number of tokens held by an account.
Privacy and Decentralization:
- Status aims to build an open-source, privacy-focused operating system for the Ethereum ecosystem, using the peer-to-peer protocol Whisper and end-to-end encryption to shield communication from third-party interference.
Additional Features and Use Cases:
- Users can create an Ethereum Name Service (ENS) address by locking 10 SNT into a smart contract.
- The platform includes a research project called Nimbus for Ethereum 2.0, designed for embedded systems and resource-limited hardware, and a hardware wallet called Keycard for secure, contactless transactions.
The Status application is available for both Android and iOS, although downloading it on an iPhone involves a few extra steps as it's not yet available on the Apple App Store.
Through these facets, Status (SNT) endeavors to redefine social networking models, enhance user privacy, and foster seamless interaction with the Ethereum blockchain and its DApps, especially for mobile users.