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What Is Status Network Token ?
Status is a project based on the blockchain technology that aims to develop a decentralized messaging service that one can also use to make payments and receive them. The startup raised more than $60 million worth of Ether in its Initial Coin Offering and was one of the extremely successful coin crowd sales in history.
Apart from being a messaging service, Status aimed to go further by allowing people to download and use decentralized apps with the help of a next generation browser.
Status wasn’t just meant to be a messaging system as mentioned earlier. By taking part in Status, your device whether a mobile phone or a computer will become a light node on the Ethereum network and thus you can have useful access to Ethereum’s entire ecosystem through it too. So, there are a lot of positive developments that Status started and are still in the pipeline.
Status is part of the wider efforts to make the internet decentralized and eventually shift to it. It is a community driven project and designed to empower the people with the help of blockchain technology and decentralized economy. Since you can trade Ethereum securely here, it is also a great investment for the future if you are interested in decentralized crypto marketplaces. Its ability to search for dapps that can be part of the decentralized feature of the future is also ground-breaking stuff that holds real promise as more and more things become decentralized. They also include censorship resistant micro-blogging tools. It is like a whole decentralized blockchain operating system.
While Status’s mission was right, it created some issues on the Ethereum blockchain due to massive transactions and number of tokens. Now many of these issues have been resolved and the startup is gearing towards eventual release.
All status coins come pre-mined.
Notes for Investors
The Status Coin’s value has been dropping ever since its launch. The reason is partly because of its troubled beginnings. The coin actually made the whole Ethereum network problematic because of sheer volume and number of coins available for its users. Things got so back that some exchanges put a freeze on Ether trades to allow it to come back to life. So, while the idea was solid, there were a few hiccups along the way. It is the reason why its market cap halved since launch. Right now, things are looking positive as the new platform is showing promise but in the long run, it will have to work well to allow people to profit from it.