Status SNT
About
What Is Status (SNT)?
Status is categorized as a mobile and desktop operating system and decentralized browser that incorporates a messaging system. As such, Status allows you to interact with a network at any time, from anywhere. It was originally released in June in 2017. It is a light client [Ethereum](https://coinmarketcap.com/currencies/ethereum/) node, and has the ability to give you access to all Ethereum decentralized applications (otherwise known as DApps) from an app that is installed on your mobile phone or tablet. This means that users can send encrypted messages as well as access decentralized applications, including a cryptocurrency wallet.
Who Are the Founders of Status?
The Status network as a whole was founded by Carl Bennetts and Jarrad Hope. Both of them ran a software distribution company prior. They had a previous work relationship of over six years on various projects, and three of those years were committed to operating a software distribution network, which drove over 20 million installs throughout many software offerings. All of the profits were used to fund their future projects. During this time they were in a unique position to see how personal data on the internet is bought and sold, and how users are acquired and retained as a result..
What Makes Status Unique?
Status, or SNT, is an open-source messaging platform as well as a mobile interface. This interface allows its users to interact with DApps running on the ETH blockchain. In return, users get over 2,000 DApps, can send and receive encrypted messages on a peer-to-peer basis and can make payments as well as utilize smart contracts. The network itself uses Status Network Tokens, or SNT, that are the native currency on the platform. The goal of Status is to make the adoption of Ethereum DApps quicker and more efficient. There is also a users-as-stakeholders network that allows the behavior of the network and its software to become aligned with the interests of a specific user. The contributors conduct research on a crypto economic model, and peer-to-peer technologies can ensure a healthy Status Network.
How Many Status (SNT) Coins Are There in Circulation?
The current circulating supply of Status or SNT is at 3,470,483,788 SNT with no maximum supply available. When it comes to the market cap, it is approx. $187,525,492 USD as of February 2021. SNT is an[ ERC-20](https://coinmarketcap.com/currencies/erc20/) token that is used to access and power decentralized services in the Status Network. It is an open source project that anyone can use to their specific needs and is verified by the Messari Disclosures Registry.
How Is the Status Network Secured?
When it comes to the Status network as a whole, it has a main goal of being a truly decentralized communication tool that over time can remove all third parties and minimize any attack vectors for malicious actors. Messages are not blocked or censored, and they are pseudo-anonymous when the user chooses this as an option. You can send, store and receive cryptocurrencies and tokens within the Status wallet, as the private keys are never exposed. You browse through Web3, where the end user data and browsing information is not accessed by any third parties. The user’s identity in Status starts with a locally generated cryptographic keypair, which is protected with a password. Status also uses the Waku protocol for peer-to-peer or [P2P](https://coinmarketcap.com/alexandria/glossary/peer-to-peer-p2p) communication, and Waku itself relies on a network of peers to route the messages to each other. It has end-to-end encryption by default, and perfect forward secrecy which is built on the X3DH and Double Ratchet specifications from Open Whisper Systems. The cryptocurrency is stored on a non-custodial wallet, and there's a signing phrase to protect from any phishing attacks.
Where Can You Buy Status (SNT)?
The Status Network Token is a modular utility token that fuels the network as a whole. It is free to use and communicate with, however, you do need SNT to access features of the Status Mobile Ethereum Client. The top crypto exchanges for buying, selling and trading of Status (SNT) include: [Bittrex](https://coinmarketcap.com/exchanges/bittrex/) [OKEx](https://coinmarketcap.com/exchanges/okex/) [ZG.com](https://coinmarketcap.com/exchanges/zg-com/) [BiONE](https://coinmarketcap.com/exchanges/bione/) [Upbit](https://coinmarketcap.com/exchanges/upbit/), and [Bithumb](https://coinmarketcap.com/exchanges/bithumb/) Here’s a[ step-by-step guide](https://coinmarketcap.com/how-to-buy-bitcoin/) to teach you all about crypto and how to buy your first coins.
AI Analysis
What is the Status (SNT) cryptocurrency good for? What are its main use cases?
**Status (SNT)** is a utility token that powers the **Status Network**, a decentralized, open-source ecosystem focused on privacy, security, and decentralized applications (dApps). Here are its main use cases: ### **1. Governance & Voting** - SNT holders can participate in **decentralized governance** by voting on proposals related to the Status Network’s development, treasury management, and ecosystem upgrades. - The **Status Network DAO** (decentralized autonomous organization) allows token holders to influence decisions. ### **2. Access to Services & Features** - **Staking & Rewards**: Users can stake SNT to earn rewards or access premium features within the Status app. - **Tipping & Payments**: SNT can be used for microtransactions, tipping content creators, or paying for services within the ecosystem. - **Identity & Reputation**: SNT may be used for identity verification or reputation systems in decentralized apps. ### **3. Decentralized Finance (DeFi) & dApps** - SNT can be used in **DeFi protocols** integrated with the Status Network, such as lending, borrowing, or liquidity provision. - The **Status Wallet** supports Ethereum-based dApps, allowing users to interact with DeFi platforms like Uniswap, Aave, and others. ### **4. Privacy & Security Features** - The **Status app** (a mobile Ethereum client) emphasizes privacy, allowing users to interact with blockchain applications without exposing personal data. - SNT may be used to access encrypted messaging, secure transactions, and other privacy-focused services. ### **5. Future Use Cases** - **Web3 Integration**: As the Status Network expands, SNT could be used for access to new decentralized services, including **decentralized identity (DID)** and **cross-chain interoperability**. - **NFT & DAO Participation**: SNT may enable participation in NFT marketplaces or DAO governance within the ecosystem. ### **Conclusion** Status (SNT) is primarily a **governance and utility token** that supports the Status Network’s decentralized ecosystem. Its main use cases include voting, accessing services, DeFi interactions, and privacy-focused applications. As the network evolves, SNT’s utility may expand further into Web3 and decentralized identity solutions. Would you like more details on any specific aspect?
Answered by mistral-small-latest (mistral)What blockchain does Status use? Is it its own blockchain or built on top of another?
Status, a decentralized messaging and Ethereum wallet app, primarily interacts with the **Ethereum blockchain** and its Layer 2 solutions. It does not operate its own independent blockchain but leverages existing blockchain infrastructure for its decentralized features. ### Key Details: 1. **Ethereum (Layer 1)** – Status uses Ethereum for smart contracts, token transactions (e.g., ETH, ERC-20 tokens), and decentralized applications (dApps). 2. **Layer 2 Solutions** – To improve scalability and reduce costs, Status integrates with Ethereum Layer 2 networks like: - **Arbitrum** (Optimistic Rollup) - **Optimism** (Optimistic Rollup) - **Polygon (zkEVM)** (ZK-Rollup) - **zkSync Era** (ZK-Rollup) 3. **Waku (Decentralized Messaging)** – Status uses **Waku**, a decentralized messaging protocol built on top of Ethereum, to enable peer-to-peer communication without relying on centralized servers. ### Why Not Its Own Blockchain? - **Interoperability**: By building on Ethereum and its L2s, Status benefits from Ethereum’s ecosystem, security, and developer tools. - **Focus on UX**: Status prioritizes user experience (e.g., wallet, messaging) rather than blockchain infrastructure. - **Decentralization**: Waku and Ethereum’s L2s provide the necessary decentralization without requiring a separate chain. ### Summary: Status does not have its own blockchain but relies on **Ethereum and its Layer 2 networks** for transactions, smart contracts, and decentralized messaging (via Waku). This approach ensures scalability, security, and compatibility with the broader Ethereum ecosystem.
Answered by mistral-small-latest (mistral)Is Status programmable? Does it support smart contracts or decentralized applications?
Yes, **Status** is programmable and supports **smart contracts** and **decentralized applications (dApps)**. Here’s how: ### **1. Status as a Programmable Wallet & Interface** - **Status** is a **non-custodial Ethereum wallet** that allows users to interact with **EVM-compatible blockchains** (Ethereum, Polygon, Arbitrum, etc.). - It supports **Web3.js, Ethers.js, and WalletConnect**, enabling developers to build and integrate dApps. - Users can **sign transactions, manage keys, and interact with smart contracts** directly from the Status app. ### **2. Smart Contract Support** - Status can **execute and deploy smart contracts** on Ethereum and other EVM chains. - It supports **ERC-20, ERC-721, and other token standards**. - Developers can use **Status’s API** to interact with smart contracts programmatically. ### **3. Decentralized Applications (dApps)** - Status has a built-in **dApp browser** that allows users to access **decentralized exchanges (DEXs), DeFi platforms, NFT marketplaces, and DAOs**. - It supports **WalletConnect**, enabling seamless integration with other dApps. - Developers can build **custom dApps** that interact with Status via its **open-source SDKs**. ### **4. Status Network (SNT) & Governance** - The **Status Network Token (SNT)** is used for **governance, staking, and incentivizing participation** in the ecosystem. - Users can **vote on proposals** and participate in **DAO governance** through Status. ### **5. Open-Source & Developer Tools** - Status is **open-source**, and developers can contribute to its ecosystem. - It provides **SDKs, APIs, and documentation** for building dApps. ### **Conclusion** Yes, **Status is programmable** and fully supports **smart contracts and dApps** on Ethereum and other EVM chains. It serves as both a **wallet and a gateway** to the decentralized web. Would you like help with a specific integration or development use case?
Answered by mistral-small-latest (mistral)How fast are Status transactions? What is the typical confirmation time and throughput (transactions per second)?
Status transactions on the **Ethereum blockchain** (where Status primarily operates) have the following performance characteristics: ### **1. Transaction Speed & Confirmation Time** - **Typical Confirmation Time**: ~15 seconds per block (Ethereum's average block time). - **Finality**: ~12 confirmations (or ~3 minutes) for most applications to consider a transaction fully secure. - **Gas Fees Impact**: During network congestion, confirmation times can increase significantly (sometimes to minutes or hours). ### **2. Throughput (Transactions Per Second - TPS)** - **Ethereum's Base Layer**: ~15-30 TPS (varies with gas fees and network congestion). - **Layer 2 Solutions (e.g., Arbitrum, Optimism)**: Status may use these for faster, cheaper transactions (~1,000+ TPS in some cases). ### **3. Status-Specific Considerations** - **Status Wallet**: Uses Ethereum’s native transaction speed. - **Status Network (SNT Token)**: Transactions follow Ethereum’s speed and fees. - **Decentralized Apps (DApps)**: Performance depends on the underlying blockchain (Ethereum, Polygon, etc.). ### **Comparison with Other Blockchains** | Blockchain | Avg. TPS | Avg. Confirmation Time | |-----------------|---------|------------------------| | Ethereum | 15-30 | ~15 sec per block | | Solana | ~2,000 | ~400ms per block | | Polygon (PoS) | ~7,000 | ~2 sec per block | | Bitcoin | ~7 | ~10 min per block | ### **Conclusion** Status transactions on Ethereum are **moderately fast (~15 sec per block)** but can be slow during congestion. For higher throughput, Status may integrate with **Layer 2 solutions** (e.g., Arbitrum, Optimism) or sidechains like **Polygon**. Would you like details on a specific Status use case (e.g., SNT token, wallet transactions)?
Answered by mistral-small-latest (mistral)How much data can I store on the Status blockchain? Does it support on-chain data storage?
The **Status blockchain** (also known as **Status Network Token (SNT)**) is primarily built on the **Ethereum blockchain**, which means it inherits Ethereum's data storage limitations. Here’s what you need to know about data storage on the Status blockchain: ### **1. On-Chain Data Storage** - **Ethereum (and thus Status) supports on-chain data storage**, but it is **expensive and limited** due to: - **High gas costs** for storing data in smart contracts. - **Storage limits** (each transaction has a gas limit, and storage operations consume gas). - **Permanence** (data is immutable once stored, making updates costly). ### **2. How Much Data Can You Store?** - **Per transaction**: You can store a few **kilobytes (KB) of data** per transaction (depending on gas limits). - **Smart contracts**: You can store structured data (e.g., in mappings or arrays), but each write operation consumes gas. - **IPFS & Off-Chain Storage**: Since on-chain storage is costly, most decentralized apps (dApps) use **IPFS (InterPlanetary File System)** or other off-chain solutions and store only **hashes (CIDs)** on-chain. ### **3. Alternatives for Larger Data Storage** - **IPFS + Ethereum**: Store large files on IPFS and pin their **CIDs (Content Identifiers)** on-chain. - **Arweave**: A permanent storage solution that can be referenced via smart contracts. - **Filecoin**: Decentralized storage with on-chain verification. ### **4. Status Network’s Approach** - The **Status app** (a decentralized messaging and browser) often relies on **off-chain storage** (like IPFS) for efficiency. - **SNT (Status Network Token)** is used for governance and payments, not direct data storage. ### **Conclusion** - **On-chain storage is possible but expensive** (best for small, critical data). - **For large files, use IPFS, Arweave, or Filecoin** and reference them on-chain. - **Status Network itself does not provide specialized storage solutions** beyond what Ethereum offers. Would you like recommendations for specific use cases (e.g., NFT metadata, decentralized apps, etc.)?
Answered by mistral-small-latest (mistral)Contact Us About Status
Are you a representative of the Status project? Send us a message.