Status and Ethereum.
Status is a an open source messaging platform and mobile browser that can interact with all the decentralised applications that run on the Ethereum virtual machine. The Ethereum block chain is getting a lot of attention lately. Even the big banks and Fortune 500 companies are interested in the tech. It seems that this is the next revolution and it is already changing the world.
Status is building on Ethereum and that has many advantages for it’s users. One of them is that users who interact with each other can be assured that no data they exchange is stored on a server of a centralised company. All of the big companies are currently storing as much information as possible they can get from their users.
They can use and sell our information and it can even be hacked and put in the black market were people buy your personal data for bad intentions. This is just crazy if you think about it.
The internet started as a nice decentralised place but started to turn into a massive centralised place with all companies mining our personal data. Our personal data simply became a currency over time. It’s worth so much that many companies even violate the law to get more of it!
The upcoming contribution period.
Status is having a contribution period on the 17th of june. If you want to be part of it you have to send ETH to the conbtribution address. 1 ETH will give you 10,000 SNT tokens the soft cap is placed at 12 million CHF. After this cap is reached a series of dynamic caps will activate. The final hard cap is unknown, we all will find out once we get there. More info here: https://blog.status.im/distribution-dynamic-ceilings-e2f427f5cca
It is very very important that you can´t send ETH from an exchange. You have to use a wallet where you have full control of your tokens and or private key. Using an exchange for the contribution period will result in lost of funds.
Recommended wallets are: Myetherwallet, Mist, Parity, Metamask and Imtoken.
Tutorials and all info can be found here (they are still updating this page): http://contribute.status.im/
So what gives the SNT value?
Status is a utility token that is required by many parts of the Status platform. See below the use cases of the token:
- 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)
As you can see, this is a long list and this list will for sure grow over time, creating even more value to the SNT token.
Last words,
Status is a very interesting project with enormous potential and if you would like to show support then become a contributor on the 17th. Being part of the movement to decentralize everything is making me very excited, I hope you guys have the same feeling as me and will also make a contribution on the 17th. Good luck to Status and all of it’s contributors and let´s make the world a better place!
............
Milly