Status Network, the features, mission and principles, and applications
Pearlumie: Hello there,
Pearlumie: Okay, it’s Pearlumie here again.
: Wow! It’s been a while.
Pearlumie: Yeah sure! I know. I’ve just been off work and that’s why you’ve not been hearing from me. It’s no problem really.
: So, what have you been up to?
Pearlumie: Well, I’ve been here and there. You know? A little here, a little there as always. But then, I found something this time around.
: Lol. and what is it that you found?
Pearlumie: It’s Status!
Status is an open-source project with a private and secure decentralized messenger or maybe I should say Status is an open-source messaging application that cherishes your privacy and protects it with an end-to-end encryption, an ERC20 and ERC721 compatible crypto wallet and a web3 browser – a feature that allows you to connect to the ethereum blockchain from your browser without running a full ethereum node. Status is the first mobile ethereum client built solely on peer-to-peer technologies. As an open-source that it is, developers, programmers, educators, enthusiasts and any other category you can think of all have the open and free access to the assets and information of the network.
So basically, you can chat, browse, and transact on the status Network and it’s all on your terms. Yes, you heard right! Your terms!!
Now, to the features...
Although the status network aims to be a truly decentralized tool that provides a secure platform to interact with peers and DApps, they’ve also taken a lot of other things with utmost importance which I’ll be talking about a few:
• Total elimination of third parties: This avails you full control of your funds which in other words means you alone have access to your wallet and that your private keys are not stored. This should tell you that the status network takes security with utmost importance.
• Discover Dapps: This feature helps you discover some great Dapps- some of which might be new to you. It features a wide range of Dapps from Exchange Dapps to Social Dapps to Utility Dapps to Market Dapps and lots more. You might want to familiarize yourselves with those Dapps and even vote for the ones you like; might cost you some SNT though :).
• Extend your Dapp: Status created room for developers to extend their Dapps by integrating some or all of the functionality of their Dapps into status.
I think that’s all the features I want to mention. Unto the next one…
The Status Network has set principles with which they put themselves in check to be sure they are not falling short of the set vision. I’ll like to talk about three of them.
• Censorship Resistance: The network allows free flow of content and you don’t have to feel like you’re being watched.
• Transparency: The level of openness of information within the organization is wonderful and as far as Status is concerned, they do not plan to compromise the level of transparency in the future.
• Decentralization: The organization is highly decentralized. The number of computers composing the network and the people that have control over the systems is on the high side.
You’ll all agree with me that one of the major characteristics of good Blockchain projects are the use cases and applications which is a reason I consider this part of my content as important. I’d like to briefly talk about two of the applications of the Status Network.
Indicators of Trust
In this modern age, most of our social networks have a way of attesting that a particular user is reputable. In cases where you’re looking for a particular celebrity or public figure to add up on your social media account, you can now always check for a verified badge or blue tick sign beside the account.
Now, the Status Network plans to implement this with the Status Network Token (SNT). It projects a non-exploitable online reputation system that can only be gotten by stakeholders who deposit the SNT against their usernames. This deposit creates a badge to show the level of trust the network has in such usernames and as such, you can freely have dealings with them.
The SNT can also be utilized in the Decentralized Push Notification Market as the network plans to establish a market of Push Notification Providers. The PNP send offline alerts and messages to you with the help of the new Whisper V5 protocol.
All you need to do is send your SNT to the PNP of your choice and they may charge microtransactions for the notifications.
Thanks for having me!
That’d be all for now!!