Introducing Status: Gateways to the decenteralized web - bringing applications into the hands of users [mobile Ethereum wallet]steemCreated with Sketch.

in ethereum •  last year

Status is a mobile Ethereum browser that gives secure access to decenteralized applications (dApps) running on the blockchain. Status and services like it are what will allow the most disruptive applications to finally reach the hands of many more users.


Status intro


Status.im is an open source messaging platform and browser that is able to interact with Web3 applications on the Ethereum Network. They have both iOS and Android Alpha builds for testing and will be releasing betas soon. Their ICO begins June 17th. They have a working product and are very highly regarded in the community.

Status is not an app, it is decentralized service that will be owned by its users - the mobile Ethereum browser is just the tip of the iceberg.

You can view their white paper here for more details.

I have had the pleasure to alpha test their iOS application for the past few months and I have to say there is a lot of polish in both the speed and the quality of the animations. The application really makes it easy to interact with Ethereum applications - I would choose the UX over Mist any day.

I believe this application has a Venmo-like social component that is going to be crucial to the mainstream adoption of decentralized payment alternatives. Users will be on-boarded with a simple payment or chat use-case and eventually progress into the wide world of decentralized applications under development.

Users want easy Venmo payments. - they will get a decentralized web browser and use it, all without a strict interest in decentralization



The token

The Status token launch, like many more before, is attempting to ensure the most access to the sale as possible. They do not want a sale like BAT, over in two blocks. Distribution is one of the most important parts of ensuring a decentralized application remains decenteralized and that the incentives within the network remain aligned with the community. The launch of the Status Network Token (SNT) should certainly be better than BAT but only time will tell if the sale is not taken by the whales.

SNT serves as an important incentive governance token and is required for the following Status functions:

  • Governance over the Status Client
  • Username registration over ENS
  • Community curation and content discovery
  • A Decentralized Push Notification Market
  • The Status Teller Network
  • The Status Sticker Market
  • The Status DApp Directory
  • Access to features such as Tribute to Talk
  • The Status Acquisition Engine (Research)

Our goal is maximise both quantity and quality of token-holders. With Status Genesis Tokens we address quality by subjectively allocating tokens to those who have supported decentralisation, and with Dynamic Ceilings we attempt to favour smaller contributors over large ones, addressing quantity.
-Status Blog

The status team has created the Status Genesis Token (SGT) to support the users who have helped Status grow. SGT allows Status to reward those who have helped the network in less-tangible and non-monetary ways. SGT tokens will be distributed to those who prove they have helped grow, or are a part of the greater Status community. There is a bot in their #status Slack channel that will guide you with the process.

In the current crowd sale contribution period up to 51% of the total supply of SNT will be distributed. A maximum of 10% will be allocated as SGT.

The first Contribution Period will begin on June 17th. This sale is unique, using a Dynamic Ceilings approach designed to add difficulty to large contributors and favor smaller contributors. Dynamic Ceilings at a high level make large contributions more costly in the form of transaction fees because larger contributors would need to send many small transactions because of the ceiling.

There have been some concerns that token sales like this could encourage users to send transactions many times over. This may be too much for the network to handle at this point in time, causing problems. While the format Status has chosen is certainly not perfect, I think it is awesome that the community is putting so much effort into ensuring each ICO runs better than the next. Problems might arise but hopefully nothing like the issues of developer holdings and contributor numbers plague the Status launch. I think the Status team have chosen a model better than other big-name ICOs like BAT and GNO.

See the Status Blog for more details on the Dynamic Ceiling approach.

Read more about SGT from the blog post: Encoding the Status 'Genesis Block'


There is a fantastic video just released today showing off the app and how they envision users interacting with applications. The example that resonates most with me is when the actor makes use of stablecoin tech; using a secure mobile application to make a trade (on a decentralized exchange!) between a gold token and a stabilized crypto-asset like Maker. That is the future.

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Applications like Status.im give users access to a web of decentralized applications that provide tremendous transactional and financial freedoms. These are freedoms only possible with decentralized financial services. Stay tuned for more information on the Status network after the launch on June 17th!

As always, stay decentralized,
-Kyle

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I had written a post awhile back about a seemingly similar project, Coinbase was launching a subsidiary which was an Ethereum messaging app and browser, I believe it was called Token. Do you have any knowledge of this project?

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Yep. Basically a status clone. The large caveat that it is funded by Coinbase.

Status is an independent and soon community owned venture.

Here are their comments on status:

They are similar in many ways and we are big fans of Status.im. We independently began working on this idea over the past few years, and were excited to see Status launch. Our goal is to work with others in the ecosystem to help build an open financial system.

This is very interesting. You're staring to make me an ethereum believer with posts like this. ;)

Thanks for the steem tip. Much appreciated. Cheers @kyle.anderson!

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Ethereum is as close as it comes to the visions I have. Best project IMO rn. Can't wait to see what other projects the future has in store!

Thanks for sharing. Just read the whitepaper, and very impressive. I've got the alpha installed on my Nexus. Eager to start using. Would love to connect and test it.

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Yeah I sure have some stability issues but once the polish rubs in - game changer.

Not a big one on ICOs but they have done a good job with the structure.

Thanks, this is very exciting news...we are in a new world.

Fantastic! We will try this out. Trying to get our entire state on to the BTC/ETH bus! At a legislative level. But gotta use it and know it first to sell them on the idea!

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Awesome! Who exactly are you in contact with?

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Just the locals and fellow enthusiasts/experts. Lawmakers are the way in, but we have to get them interested and go in wit facts, data, plans and contingent offerings. I wish to not divulge too much, but am working on small pieces with a CISO. Like to see what unfolds in Nevada, since neighboring states have powerful influence. Next year is another election year and cryptos are great for business and universality.

That's one very well made video. Will investigate more, thanks.

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Status has a quality team. Their product is quite fantastic.

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So using Status I could be chatting with a friend and in that conversation use Augur to bet on something? Seamless integration? In best case scenario I wouldn't need to install 10 different apps - hopefully

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Yep. And the chat all uses Ethereum's whisper and swarm protocols.

It's great. Do we have the option of Buying Eth via debit cards over there?

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Um well not on Status.

You might want to try Gemini or Coinbase - both allow credit and debit deposits for ETH.

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Okay cool. :)

Glad to know, thanks!
I will look immediately.
Thanks!
(follow)

The example that resonates most with me is when the actor makes use of stablecoin tech; using a secure mobile application to make a trade (on a decentralized exchange!) between a gold token and a stabilized crypto-asset like Maker. That is the future.

That is the world-changing idea. Once the decentralized exchanges can start competing with NYSE, NASDAQ, BATS, etc. then things get interesting.

Great article. I'm excited about status.

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Exactly. Expecially when combined with stablecoin tech and the other aspects granted by decenteralized systems.

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