What Exactly is Status? Is Status a Good Investment? How Much Money Should Invest in Status for a Start?
If you have been asking yourself such questions, this is the right place for you to get the correct answer. In this article, I will be discussing Status to help you know how it works. You will then Be Able to Make a Sound Decision on Whether to Invest in It or Not.
Short Review: Status is a messaging platform that runs on Ethereum network. Status makes your mobile device a light client node on the Ethereum network, making it possible for you to access the whole Ethereum ecosystem despite your location. With Status, you can send payments to your friends from within chats.
That seems very exciting and Status is certainly an interesting project to follow. Meanwhile, if you also enjoy proven and guaranteed ways to make money online, I recommend taking a look at this step-by-step training. It will also boost your income with cryptocurrencies.
What Is Status?
Status is a platform for decentralized applications and its cryptocurrency is known as Status coin (STN). The platform is simply a light client for Ethereum that serves as a browser, messenger ad gateway. This means that Status platform is based on Ethereum blockchain. On the Status platform, users are allowed to design their apps through smart contracts.
Status is connected to Ethereum peer-to-peer network, hence it is capable of exchanging data through this decentralized network. You can program your decentralized application on the Status platform. The major goal of this decentralized platform is to enhance accessibility by allowing the public to be able to use Dapps and cryptocurrencies on their smartphones.
How Does Status Work? / Benefits of Status
The Status platform can be seen as a community project working on an open source system. Anyone can participate in the network provided they are willing to do so. This is why Status can be seen as a form of social media platform. You can send, receive and save Ether as well as other cryptocurrencies via the Status platform.
Status comes with eWallet. The uPort ID is an app that is based on Status. The app allows you to use its encrypted and mobile identity for securing digital interactions. Etherisc is also another app based on Status, which is a platform for decentralized insurance. It has made the sale and acquisition of insurance policies cheaper, efficient and more transparent.
Status works on a decentralized economy, but it is in need of playing a great role in the social media sector. It is an encrypted messenger that can be used for sending and receiving Ether, completing smart contracts and chatting. It is based on a peer-to-peer protocol. Its cryptocurrency, the Status coin serves as the token on the platform.
Other than being a messaging platform, Status is a mobile Ethereum operating system. This means that it can engage with the other decentralized applications (Dapps) running on the Ethereum platform. Status has adhered to the concept of blockchain technology by giving users complete control over their data on the network. It is a crypto-coin that can make lives easier, hence it has a lot of potential.
With the Status platform, many people are able to work with the Ethereum blockchain without necessarily having to download it completely. Ethereum works under proof-of-work algorithm, in which miners work by solving complex cryptographic puzzles. This is to be replaced by the proof-of-stake system, in which voting will be based on the number of tokens one owns as well as the amount of computing power they contribute to the network.
Status is expected to introduce a “smarter private messaging” with an additional functionality like smart contracts and payments. A protocol is used for encryption of all communications. This way, users are able to exchange ideas, services, and currencies with no problems. This means the success of Status will depend on the accessibility of decentralized applications.
Risks of Status
Currently, the only risk facing Status is that it relies on the Ethereum blockchain. It is simply a light client for Ethereum, providing users with an easy way of using the Ethereum platform. If Ethereum falls, Status may have big challenges.
However, Ethereum is a very promising platform since it provides developers with all tools necessary for the development of decentralized applications. Ethereum is expected to overtake Bitcoin and it is not expected to go down. The success of Status relies on how Ethereum does in the market.
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The development team has about 12 members plus 10 advisors. The following are the core contributors of Status:
- Jerrad Hope: He is the Leader and Co-founder of Status. He had previously founded Opulence, which is a software distribution network which later grew $20M revenue within 30 months.
- Carl Bennetts: a co-founder and head of Communications & Marketing. He was also a co-founder of Opulence.
- Roman Volosovskyi: He is a developer, having specialized in Clojure (a general-purpose programming language). He has also worked with Symphony2 as a developer and ZEO Alliance as a Software Engineer.
- Alexander Pantyukhov- a Java, Android, and VClojure developer.
- Andrey Shovkoplyas- a Clojure developer. Previously worked with Reasoning Mind as Software Development Manager and Dadcan as CTO.
- Gustavo Nunes- Clojure developer.
- Victor Farazdagi- a Go developer. Previously Software Engineer at Carrierwave and CTO at Square Las.
- Andrei Mironov- User experience and visual design expert.
- Anna- the Head of QA. She has previously worked as Senior Tester at SDL Web and Senior Tester at SDL Web.
- Tatu- the Community Manager.
Status was developed by Status Research & Development GmbH, which is a company based in Switzerland. The development team is active on Slack and GitHub. Below are social media metrics about Status:
- GitHub: 35 contributors, over 1400 commits,
- Slack: over 8300 users,
- Twitter: over 6100 followers
- Reddit: over 760 redditors
- Facebook: over 1900 likes
- YouTube: over 900 subscribers.
As you can see, Status has a large community and
Is Status Worth Buying?
Personally, I will say Yes. With Status, life can be made much easier. This is what people have been looking for when using cryptocurrencies. They need an easy way of exchanging coins and communicating with other users on the blockchain networks. If people can get such a platform, they will adopt it straight away. Status has fulfilled, hence there will be increased adoption of this cryptocurrency.
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Most people like the Ethereum platform. This has seen the value of Ether rise to compete with Bitcoin, almost overtaking it. Status is based on the Ethereum platform and facilitates an easy exchange of ether. Status will benefit from the increased adoption and use of the Ethereum platform.
With an increase in the adoption of Status, the value of Status coin (STN) will rise. This is why I believe that Status is a coin worth buying. The status platform is also competing with messaging platforms like WhatsApp, WeChat, and Line. It provides an easy to use interface where users can chat and send payments to each other.
Status has all the features that any cryptocurrency lover will want to experience. A Status user can easily find the nearby users whom they can exchange cash for currency and digital assets with. It gives all smartphone owners the ability to control their wealth. The Status can be used on mobile devices running either Android or iOS operating systems increasing its accessibility and providing chances for its increased adoption.
Status Price Prediction
STN is a coin to watch with its price expected to increase. The Status price equals to 0.199 USD as at 2018-02-22. In case you buy Status for $100 today, you will be given a total of 501.266 SNT. A long-term increase in the price of Status is expected, with the price prognosis for 2023-02-17 being 3.281 US Dollars.
However, that’s only a prediction of one man and there are not any guarantees for such growth. For a guaranteed money-making opportunity, I recommend just going through this training and applying it into practice.
Conclusion – Is Status a Good Investment?
I can still say that Status is a good investment opportunity, in my opinion. If Status competes successfully with WhatsApp, WeChat, and Line, its value will increase significantly. There is going to be a MASS adoption of Status in the near future, and this will contribute significantly to its predicted rise in price.
Are you looking for a way of earning good money online? Are you looking for a digital currency to invest in? I will advise you to consider Status. The sky is the limit for this cryptocurrency. Status is also owned by Status Research & Development GmbH, a company based in Switzerland.
But as you and I know, anything can happen. The price jumped 10 times higher at the beginning of 2018 but since then it went back to the old price. Volatility is humongous and it’s hard to say what happens in the short term. That’s why you should follow these principles to make money in the long term.
As I mentioned above, investing money in cryptocurrencies always involves risks. That’s why I recommend that you build multiple online income streams. You can learn our #1 recommendation by clicking the picture below:
What is your Opinion about Status?
Will you Invest in Status?
Why or Why Not?
I Will Be Happy to Hear Your Opinion!
Let’s discuss in the comments below! 🙂
(Disclaimer: The above references an opinion and is for information purposes only. It is not intended to be investment advice.)