Status: The Top Crypto Of The Future
Let’s all be frank, we all missed out of being ac cryptocurrency millionaire talk less of a billionaire. The truth is, we are not ashamed because we never knew a thing like Cryptocurrency or blockchain. Those that knew it early took the right step.
Is this to give yourself a pat on the back and say, I won’t miss out again? If you are with me, I would day welcome to a world of being another cryptocurrency millionaire if not billionaire in 700 days to come.
Pity and sorrows along the way…
While a lot of us will hold on to the brighter day, some will fall on the wayside, and the worst, some will say this is not possible; probably another scam.
I totally understand that because this is a total guide.
The truth is, when Amazon shares came up in the late nineties, some of us missed out to invest early enough, not because we wanted to, but because we joined the wagon of those that said it was all a fable or a bubble.
Even at $100, some of the doubting thomases were still calling it a bubble, and guess what happened when the shares went up to $1000?
The doubters were dumfounded because they missed out and fail even though it was considered nothing and they ultimately missed out even as a goldmine it is today.
As if that want not enough, the Facebook shares also followed same train and yet again, some missed out because they saw the early investors as fool.
And now the last chance I guess.
I am not a financial advisor nor is this analytics poised to delivering a bank account full of an overnight millions. Far be it.
The truth is that, if you saw what the telecommunication did, you can easily see that the cryptos and blockchain technology will do and be when all the countries and sectors start accepting it for what it is.
If you are a newbie in cryptocurrency and Blockchain projects, I want to assure you that you will learn more than you can think of.
As we have already established, we missed out on being a crypto millionaire because we knew nothing about this digital money.
The point is, even though I am admonishing you hold some coins, it turns out that this is not a do or die affair, the aim is making some extra or passive income from a long term investments; in a long run.
The volume you can buy these cryptocurrency/blockchain projects is up to you. I mean, if you can go in for $100, great, if $10, great, the point is not missing out at all.
MAKING SENSE OF THE PROJECTS
I have done all the dirty work for you. So, enjoy your reads and reasons you should go for each of the Cryptocurrency/Blockchain Projects.
Lastly, the number to which these projects are listed do not reflect their standings on the
Before we consider, see more crypto relative reviews on
STATUS CRYPTO
Popularly known as your gateway to Ethereum, Status is “an open source messaging platform and mobile interface built to interact with decentralized applications that run on the Ethereum Network.”
Launched in June 2017, Status is a Blockchain project which act as a discovery tool just like how browsers provide the gateway to websites, it aimed to allow users to Browse, communicate and make payments securely on the decentralized web.
HOW STATUS WORKS
The Blockchain project runs a go-ethereum directly from your mobile devices that turn your smartphones into the Ethereum node, meaning that the validation of blocks is done on the client side.
THE FUTURE PROJECTION
Apart from the fact that the decentralized messenger will allow the users to finds each other worldwide and to transact and communicate with the each other, Status wants to build a digital hub where users can use various services based on the Ethereum network such as
THE WHITEPAPER: #15 Reasons You Should Hold Status Blockchain Project
Upon getting the angered info (I missed out) of how the Status Network Token (‘SNT’) was distributed at a rate of 10,000 SNT per 1 ETH to participants in the Contribution Period on June 20
Also, the Status Network token is a modular utility token that fuels the Status network. This includes a Decentralized Push Notification Market, Governance of the Status client, and Community Curation of content, along with social communication tools such as Tribute to Talk.
In her statement, they also propose a fiat-to-crypto 'Teller Network', DApp Directory, Sticker Market, and demonstrate our research on a User Acquisition Engine to grow the Network.
#1. Legacy Social Networks Everyone-As-A-Stakeholder
Social networks today consist of three parties: the
Each party serves a role that sustains the growth and development of the platform. Despite each playing a critical function, these parties operate with vastly different goals in mind and current models fail to provide a means by which their incentives can coexist and be aligned.
The Owner
The owning entity is typically the creator of the network. Their role is to attract and retain users to their platform.
Their goal has historically been to create a walled garden around a user base and extract value from it. They rely on algorithms to keep the user engaged with the platform, but do not necessarily operate with the interest of the user in mind.
The Owner’s priority is value extraction from the user, followed by user retention.
The Advertiser
The Advertiser, or Data Broker, enables the Owner to extract value from the network, ultimately sustaining the platform.
The Users
The user’s perspective in the network is quite different. Often users do not approach these networks with the explicit intention of buying products, but rather to connect with friends and loved ones or to reach communities who share their own special interests.
Often they are powerless to control the information they consume, or how the network is developed.
They have no choice but rely on the Owners and Advertisers to behave ethically, or stop using the network entirely.
#2. Socio-economic Networks
What if we could flatten these roles? What if users of social networks possessed a real stake in the networks they participate in?
What if we could align incentives for all parties and create a network that naturally promotes behaviors that benefit all participants?
#3. Decentralized Push Notification Market
Taking a hard stance on decentralization in the client isn’t without its challenges.
Due to the peer-to-peer nature of the Ethereum communication sub-protocol, Whisper (SHH), simple expected user experiences, such as being notified when a friend has responded to your messages, have to be themselves redesigned in a decentralized context.
With the new Whisper V5 protocol, as a Status user, you can now delegate nodes to do offline inboxing (storing messages while clients are offline) while they will extend this ability to support push notifications.
This allows the project to establish a market for push notification providers. For service, stakeholders will deposit SNT with a provider, who may charge micro-transactions for notification and storage.
How it works
SNT is required by Stakeholders to select and receive push notifications.
Example use-cases
Stakeholder A, a casual user, wants to receive Push Notifications and pays a micro-transaction in SNT to do so.
Stakeholder B, an early adopter in Cuba, has been paying for Push Notifications, but Google’s Firebase has just been blocked in his country. He seamlessly changes to a different provider from with within Status.
Stakeholder C, a Push Notification provider, wants to generate SNT, so they participate in the market to offer their services.
#4. Governance
Status believes that one major drawback in legacy social networks is the lack of influence their users possess over the networks themselves.
They stressed that they are often powerless in having a say on how the platform evolves. So, Status aims to democratize this power, giving stakeholders a direct influence over all decisions within the network, including how the software is developed.
In fact, since the token can be used to make decisions on proposals, a core part of the Status Network Token is giving stakeholders the ability to choose the direction that the software is developed.
#5. Indicators of Trust
Status believes that in many social networks, Platform Owners offer attestations on User accounts to signal that their account is reputable.
Often this requires revealing government issued documents and is represented as a simple badge that says “verified account”.
In their words, with the Status Network Token, we intend to implement a non-exploitable online reputation system based on TrustDavis (DeFigueiredo and Barr 2005, DeFigueiredo and Barr 2009).
Stakeholders can deposit SNT against usernames at a premium, creating a badge indicating a level of value that username holds and the amount of backers they have.
This will allow us to establish a base Web of Trust, which will give an indication of how reputable a username is within the network and this can be further developed in the future, for example, with the integration of Trustlines.
#6. Tribute to Talk
Inspired by one of Satoshi Nakamoto’s original suggested use cases for Bitcoin, the Status project will be introducing an economics-based anti-spam filter, in our case for receiving messages and “cold” contact requests from users.
The essence is to enable stakeholders to set a minimum amount of SNT that a Status stakeholder must deposit in order for someone outside of their network to contact him directly. And if the recipient replies the deposit is forfeited to the recipient.
#7. Usernames on Ethereum Name Service
By default Status is free to use and communicate with. You are identified by a SECP256k1 public key.
#8. Community Curation & Attention-based Signalling
In legacy social networks, Status believes that ranking of information is typically done by the platform owner, often with the intent of driving up profits.
In this model, content discovery algorithms are opaque, prone to censorship, monopolistic in nature, and possess high switching costs should users of the network become dissatisfied with the quality of content discovery.
So, within the Status Network, stakeholders will be able to opt-in to curate the content that is displayed by producing signatures on events (i.e. by upvoting or downvoting content or ideas), referred to as signals, in which the stakeholders’ token backing is weighted in ranking.
#9. Status Teller Network
One of the core hurdles to the adoption of cryptocurrency is the difficulty in obtaining it. Ease of access is necessary to transition our economies from fiat to digital currency.
In order to solve this problem, Status has proposed the implementation of the Status Teller Network, a Dapp inside of Status, which provides borderless, peer-to-peer fiat-to-crypto ‘Teller Network’.
#10. DApp Directory
While the Ethereum network is still in its infancy, the rate of decentralized applications on the platform is already growing drastically.
The Status DApp Directory will come in to provide a way for stakeholders in the network to discover the most useful DApps, as curated by other community members.
Much like the Apple App Store or the Google Play Store, the Status DApp directory will provide a way to navigate by category and rating, enabling users to find exactly what they are looking for.
#11. Sticker Market
Status pointed out that Stickers offer a fun way for users to visually interact with their friends and family, and have been shown to increase engagement levels within messaging apps, particularly among millennials.
Using the messaging app LINE for instance, they noted that LINE derives about a quarter of its yearly revenues from sticker sales, or about $268m USD (Line Corporation IPO Filing).
And so what?
Status has proposed the implementation of a Sticker Market within Status, allowing anyone to create and begin selling their own designs to users all over the world, and to begin using stickers within any Status chat.
#11. User Acquisition Engine
Status observed that for them to achieve her mission ultimately requires one thing. That is, widespread end-user adoption.
Going further, the made it known that using the Status Network Token, they can design mechanisms for growth that have been tried and tested in Web 2.0, whilst providing greater transparency and better alignment of incentives for participants.
Just to point out, the Status Acquisition Engine provides a cryptographically provable and transparent means of growing the user base.
#12. Referral Program
In addition to an LTV claims market, Status is exploring the possibility of a mechanism for a two-way Status referral program.
And of course, solving the problem of fraudulent sign ups requires the integration of more advanced reputation and identity systems such as, uPort.
#13. Additional SNT Properties & Upgradability
Based on the work of smart contract developer Jordi Baylina, the Status Network token possesses an interesting attribute - the ability to easily spawn new tokens that have the same balance distribution as the parent token at any given block number.
They affirmed that they are strong believers in a culture of experimentation, and this model will preserve a fair contribution for
#14. Dynamic Ceiling and the Importance of Distribution
Because Status Network Token
The reality is that to achieve this, Status aims to encourage many smaller participants while discouraging larger participants from taking up the majority of supply.
#15. Project Budget
Status confidently made it known that the Funds raised during the Contribution Period will be used solely for the development and benefit of the Status Network.
They went on to reveal that the level of funding received dictates the distribution of funds, however, Status SNT reserve structure allows the project to reduce the volatility along the way towards achieving their long term objectives.
AMOUNT RAISED DURING ICO
What is the essence of the amount if not to see the support and investors of the project? This is important because it will help you determine if you should go in for it or not, tight? Okay, let’s do it.
During the ICO (initial coin offering), the Status Project raised 300,000 ETH. 300,000 ETH? OMG…
And should you want to know what the true worth as at June 2017, multiply say, $650 X 300,000 ETH.
I think this is was a massive and successful blockchain project launch.
THE TEAM
Carl Bennetts - Founder – on Twitter
Jarrad Hope – Founder – on Twitter
Roman Volosovskyi – Developer – on LinkedIn
Alexandr Pantyuhov – Developer – on LinkedIn
Victor Farazdagi – Developer – on Twitter
Andrey Shovkoplyas – Developer – on LinkedIn
Andrey Mironov - Design – on Twitter
Gustavo Nunes – Developer
COMMUNITY
MARKET CAP AND VOLUME/HOLDING ZONE
What you did not know about Status is that, Everyone-as-a-stakeholder.
The Volume To Hold
If you find pleasure in the Status Project and what they want to achieve more, the volume you can hold is up to you.
HOW TO FIND/HOLD STATUS PROJECT (SNT)
Transfer Bitcoin to Binance. From there, you buy it…
Steps - Coinbase & Binance
#2. Create an account on Coinbase.
#3. Use the money and Buy Bitcoin or Ethereum on Coinbase
#4. Create an account by Going to Binance.com/Signup
#5. Click on Funds, and to Deposit. A Bitcoin Wallet address will be shown.
#6. Copy the Wallet address to Coinbase
#7. In your Coinbase account, paste the wallet address from Binance and send the amount of BTC you want to.
#8. After delivery/confirmation, Login to your Binance account, and go to
#9. Select BTC/SNT (Status). Enter the amount.
#10. Click on Buy.
Also: How
To Open/Set-Up Coinbase Account In 3 Steps
Final Note
Without doubts, status is a great coin.
The team at Status hopes to promote adoption of the decentralized web while staying true to principles such as liberty, security, privacy, transparency, inclusivity and censorship resistance.
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