The platform of Status was designed to work on the accessibility and ease of use of the blockchain technology. Ethereum is considered as the queen of the market and has garnered a reputation virtually unparalleled. Ethereum is the pioneer of the DeFi and dApp technology and is the go-to platform for their development. However, Ethereum is far from perfect. It faces a lot of challenges in terms of scalability, network congestion etc. and while a lot of projects have been launched for the sole purpose of working on these Status is designed to make the platform more accessible. Status is regarded as the first decentralized mobile and desktop client which is aimed at increasing the ease-of-use of Ethereum.
What is Status?
Status is the first mobile and desktop client which is completely decentralized. The platform is based on the blockchain of Ethereum and is dependent on Ethereum for record keeping purposes. It is a miniature operating system interface built for the decentralized application ecosystem of Ethereum. It is an open-source platform which aims to serve as the bridge between dApp developers on Ethereum and the general market.
Status can be considered the social media platform of the blockchain. It aims to give the token holders a platform where they can connect through private messaging and otherwise, access decentralized applications through mobile phones and browse. However, the offerings of the platform are not limited to just being a messenger application. Status can also be used to send and receive payments as well as smart contracts through chats and enjoy complete encryption.
One of the major aims of Status is to increase the accessibility to the blockchain industry. As the network is based on Ethereum, its offerings are targeted towards increasing the comfort level of users with Ethereum.
SNT future outlook
The development team of the project recently launched a new upgrade of the protocol. The Status v1.16 is compatible with ETH-1559. Moreover, it also improves the user interface and wallet management. While Status is not a well-known project in the market and has a rank of 172 in terms of capitalization, it is considered to have a good future potential.
At the time of writing, SNT token stands at a price level of $0.082. Wallet Investor projects that the cryptocurrency will be operating at a price level of $0.148 in a year’s time. The five-year forecast places SNT at $0.40. Digital Coin Price projects the year-ending price at $0.12 while the price in 2026 is expected at $0.28.