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Status

Give me the basics

Status (SNT) is an open-source mobile client built on the Ethereum blockchain. It enables users to interact with decentralized applications (dApps) on the Ethereum network via their mobile device, as well as providing a mobile wallet for Ether (ETH) and ERC-20 tokens. Status was created to enable the mass adoption of decentralized technologies by providing an intuitive and easy-to-use interface for users.

The project was founded in 2017 by Jarrad Hope and Carl Bennetts, with the aim of building a decentralized version of popular messaging apps like WhatsApp and WeChat. Status offers a messaging platform that enables users to communicate with one another securely and privately, without relying on centralized servers. Users can also access a variety of decentralized applications and services through the Status app.

One of the key features of Status is its built-in support for decentralized finance (DeFi) applications, such as decentralized exchanges and lending platforms. This makes it easy for users to access these services directly from their mobile device, without needing to use a desktop computer or third-party platform.

Status also has its own native cryptocurrency, SNT. This token can be used to access premium features within the Status app, such as chat channels, dApp discovery and enhanced security features. Additionally, SNT can be staked by users to help govern the network and earn rewards for participating in decision-making processes.

Overall, Status aims to make it easier for people to access and use decentralized technologies, and to provide a more secure and private alternative to traditional messaging apps and financial services.

In-depth explanation

Status (SNT) is a decentralized mobile app built on the Ethereum blockchain that aims to bring decentralized technologies to the masses. Founded in 2017 by Jarrad Hope and Carl Bennetts, the app provides an intuitive and easy-to-use interface for users to interact with decentralized applications (dApps) on the Ethereum network and communicate with one another in a secure and private manner.

The goal of Status is to create a decentralized version of popular messaging apps like WhatsApp and WeChat. With the Status app, users can send messages and make voice calls with end-to-end encryption, ensuring that their communications remain private and secure. Status does not rely on centralized servers to store user data or messages, making it much more difficult for hackers or governments to access users’ personal information.

In addition to messaging, Status also provides a mobile wallet for Ether (ETH) and ERC-20 tokens, making it easy for users to manage their cryptocurrency assets directly from their mobile device. This is particularly useful for users who want to access decentralized finance (DeFi) applications, such as decentralized exchanges and lending platforms, which are also accessible through the Status app.

The app also features a built-in dApp store, where users can browse and access a wide range of decentralized applications and services. These dApps cover a variety of use cases, including gaming, social media, finance, and more. By offering a simple and intuitive interface, Status aims to make it easier for users to access these decentralized technologies and participate in the growing DeFi ecosystem.

To facilitate governance and decision-making on the network, Status has its own native cryptocurrency, SNT. Users can stake SNT to help govern the network and earn rewards for participating in decision-making processes. SNT can also be used to access premium features within the Status app, such as chat channels and enhanced security features.

Overall, Status is a promising project that aims to bring decentralized technologies to a wider audience through its user-friendly mobile app. With its focus on messaging, mobile wallets, and DeFi, Status is well-positioned to play a key role in the growing decentralized ecosystem.