All you need to know about the Status Network Token (SNT)

The Status Network (SNT) crypto is a project that lets you use the Ethereum network seamlessly. It also offers a platform where all the decentralized mobile apps, also known as dApps, can run to maximize the use of blockchain. The Status Network (SNT) crypto is the cryptocurrency used by the Status blockchain. This project was initiated by Status Research and Development GmbH in Zug, Switzerland.

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The Status Network (SNT) crypto is software that enables a person to use the Ethereum blockchain or the Ethereum network with ease. The Status does this by offering a platform on which various decentralized mobile applications can run to maximize the use of blockchain technology employed by the Ethereum network. Furthermore, the Status Network (SNT) crypto is designed to be used on any device; whether it is a new or old one, it includes different versions of Mobile OS software. Presently, it is available for use on the Android and iOS mobile operating systems. Furthermore, the Status Network (SNT) crypto has been designed to be used as an open-source messaging platform mobile interface.

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It is also expected that the Status Network (SNT) crypto will stay a substantial entity, one to be reckoned with, as long as this Ethereum network exists. The Ethereum network also has some solid competition for the rise and the influence of Bitcoin. Additionally, it exists as a better and more decentralized version of bitcoin that rides on a huge popularity wave owing to its reputation as the first cryptocurrency. The Status Network uses the Status Network (SNT) cryptocurrency, which cannot be mined.

History of the Status Network (SNT)

Jarrad Hope and Carl Bennets founded the Status Network (SNT) cryptocurrency. They funded the initial implementation of this project, and the work for the porting of the whole Ethereum Java implementation to the Android systems was started in the year 2014. The initial plan was to develop a mobile browser for all the DApps, which are distributed and decentralized mobile applications. After that, in the year 2016, this decision was changed, and it was decided to change the ‘Status’ into a ‘Go Ethereum’ product that will use a light client and whisper-specific protocols. This decision was important as it changed the face of the whole Status Network (SNT) cryptocurrency.

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Why is the Status Network (SNT) Cryptocurrency Significant?

The Status Network (SNT) cryptocurrency is considered significant for many reasons. It runs side by side with Ethereum, shaping up to be a solid competitor to Bitcoin. Moreover, Ethereum is popular owing to its advanced technology and allowing all the other coins and tokens on its network. The Status Network also uses SNT, one of those tokens present on Ethereum and supported by it.

What are the features of the status network cryptocurrency

Following are some of the features of the initial version of the Status Network (SNT) cryptocurrency:

  • It focussed on ensuring that there was a facility that would further provide that encrypted communication was possible through messaging without any problems.
  • This version was also supposed to include an Ether Wallet as it was designed for people who may want to socialize. Furthermore, it also had something known as ‘Discover,’ a hashtag-based search allowing people to find other users of Status, search for the other DApps (Decentralized Apps), and discuss ideas while exchanging goods and services.
  • To protect the user’s privacy, the Status Network (SNT) cryptocurrency also allowed individual users to make decisions regarding whether they will prefer to keep their profiles either public or private.
  • When it was released, a local peer-to-peer (P2P) exchange facility was also a part of this initial version. 

Conclusion

The Status Network (SNT) was mainly developed as a messaging application to ensure that the users could interact. It was based on a study that supported that more and more people like to communicate with instant messaging over other forms of communication. In addition, trends around the USA and even globally told that instant messaging applications have a higher number of active users than social networks.

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