Status Network is a project first released at the beginning of 2017 in one of the most successful and well-publicized ICOs. The main idea of Status is to bring the Ethereum network to every smartphone.
The SNT token works over the Ethereum blockchain and is an easy to handle coin for fast payments.
The Status Network ICO gathered more than $120 millions and the project is well-funded by the Ethereum and Bitcoin in its reserves.
The SNT token is built using the ERC-20 standard for safe, agile and fast Ethereum-based tokens.
Status is Much More
When the product is finally released in the coming year, Status is expected to grow big. The Status product will include a chat, a social network, a market place, a payment system- a whole range of tools to bring cryptocurrencies to the mainstream.
Status Network brings today's habits of online users into the future. Chat, apps and payments will now link to the Ethereum ecosystem. The project also includes an app store, but for "distributed apps", or dapps.
In addition, users will be able to connect locally and exchange goods and services directly for SNT or Ethereum, an important step in bringing cryptocurrencies to mass use.
Status Network is Promising
With a price fluctuation between 2 and 8 cents, SNT is still underpriced. For new users, SNT is a great entry to the world of crypto coins. DACXI is a service that would make the owning of SNT even easier.
There are 6.8 billion total SNT tokens to serve the network when it is completely operational, and around 3.4 billion tokens are in circulation now.
The Status Network uses the best established practices for chat apps: confidential communication, safe means of payment and a connection to the smart contracts needed through the Ethereum blockchain. Status Network is thus also a wallet and a light Ethereum client, fast enough to connect to the network through mobile devices.
Status Network makes the claim of becoming the next go-to app store for new distributed apps.
Status Network is Developing
The development team constantly improves the project and is getting nearer to a launch with a revamped roadmap. The development of Status Network in 2018 would follow the general trend of older ICO projects to start delivering the beta versions of their products, and the coin price would once again respond.
For now, Status has an alpha version of its app for iPhone, but expects new developments in the coming months. The development team is active on GitHub and the community is highly engaged.
Status Network is Actively Trading
While waiting for the project to take off and the SNT token to gain importance, it is still an actively traded asset, included in the DACXI platform and easily exchanged for other crypto coins for diversification.
Status Network is Fully Legalized
Status Network established its company in Switzerland, in the canton of Zug. This region is known as the "Crypto Valley" of Switzerland for its business friendly, and yet detailed regulation. The establishment of a stable company and the handling of funds and reserves for further development are markers for the potential success of Status Network in its long-term operations.
Status Network is Exciting
Status Network offers a flexible digital asset for fast and safe payments. Users can load up as much as they need and transact securely. The transactions also will utilize permisionless, trustless transactions through smart contracts, resembling the transactions of vending machines- no third parties, no hassle and barriers.
Developers may also continue to build onto the system and answer user demand for more functionalities.