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When we think about the most valuable asset in the world, most people would think of money, gold, oil, or something similar to that. However, this is not the case, especially these days. The most valuable asset in the world is information, which was always the truth, but it is especially important these days, in the internet age, when most of the businesses depend on market research and understanding their customers.
Knowing how people work, what they think, and what they want means that you can create products and services that will attract them, and attracting them means getting money from them. Unfortunately, that also means that user data is highly sought-after, and that big corporation will stop at nothing to get it. Companies like Google and Facebook have made their fortunes simply through analyzing data and running ads, and that allowed them to climb to the top and become the world’s largest and most powerful corporations.
With the decentralized internet, or Web3, on its way, things are meant to change, and those who are developing it wish to use the blockchain technology to empower users and grant them greater control over their private information. That way, users will be able to choose who can and can’t see their data, and those who want it will have to pay to get it. One way to do this is to use decentralized browsers, that were equipped with proper privacy features, and one of the best examples here is a project called Status.
What Problems Does Status (SNT) Solve?
Status aims to achieve several things, including securing user communication and pushing adoption, and it does it in its own way. Here is how it helps the industry and its users:
Greater dApp/blockchain adoption
Status is a mobile and desktop browser and operating system that allows users a simple way to access Ethereum’s decentralized applications. As such, it can help push the adoption of dApps, and through them, blockchain technology. Given that they are decentralized, dApps do not require users’ private information, as they don’t have to pay for servers or anything of the sort.
They are simply run by the community, which is where their greatest advantage lies. As such, they are becoming more and more attractive to those concerned about their privacy, and Status lets them access these apps with ease.
Secures user data and communication
Status also allows users to send encrypted messages that would not be intercepted or recorded by the dApps that they use. Since all dApps are open-source, their code is available to everyone for inspection, so there is no need for audits and trusted companies that would vouch for the products. Anyone can see the code and confirm that it is legitimate and safe to use, with no hidden agendas.
Apart from acting as a desktop and mobile OS and browser, the project also incorporates a messaging system, which ensures private, secure communication. The project essentially wishes to empower users to message, browse, and transact on their own terms, with all of it being integrated into a single, powerful “super-app” for private and secure communication.
Benefits of Status (SNT)
Status already sounds extremely beneficial for users, not only for those who seek privacy, but also for those who want convenience. For example:
Easy access to dApps from any device
As mentioned earlier, Status is meant to be used on mobile devices or computers, so you can easily have it on your desktop, laptop, mobile, tablet, and alike. This also means that you can access your favorite dApps from any device and any place. So, whether you use dApps for gaming, betting, trading, or any other purpose, Status can let you access them with a single tap or click.
Send encrypted messages or payments
Currently available messengers have their advantages, but they are terrible when it comes to privacy. Being owned by megacorporations that make their money by harnessing and using data, they can never be truly private. Even those that claim that they are private might easily not be. Some apps are even open about the fact that the messages are being monitored, while others claimed otherwise, only for it to turn out to be untrue, which led to controversies and scandals.
Being decentralized, open-source, and blockchain-based, Status physically cannot lie about this, as anyone can see if there is a back door for the developers to enter it and collect data, and it was already confirmed that Status doesn’t have anything of the sort.
Pseudo-Anonymous account generation
Status even lets you keep your privacy when creating an account. It will never ask you for your phone number, email address, or bank account when creating an account. You can reveal yourself selectively, meaning that only the information that you choose to share will be available to the project and other users.
How Does Status (SNT) Work?
Status is categorized as an operating system for desktop and mobile, but other than that, it also works as a decentralized browser and a messaging system. As such, it allows users to interact with the Ethereum network at any time and from any place. Status wishes to make dApps on Ethereum available and easy to reach — not only for their existing users, but also for anyone who might be interested in accessing them, but was too intimidated by the past complexity of blockchain to do it earlier.
Users can access over 2,000 dApps through the browser, send and receive encrypted messages on a P2P basis, and even make payments via its smart contracts.
How to Buy Status (SNT)
Currently Status (SNT) is available for purchase on the following exchanges.
Binance – Best for Australia, Canada, Singapore, UK and most of the world. USA residents are prohibited from buying Status (SNT). Use Discount Code: EE59L0QP for 10% cashback off all trading fees.
KuCoin – This exchange currently offers cryptocurrency trading of over 300 other popular tokens. It is often the first to offer buying opportunities for new tokens. This exchange currently accepts International & United States residents.
Uphold – This is one of the top exchanges for United States & UK residents that offers a wide range of cryptocurrencies. Germany & Netherlands are prohibited.
Uphold Disclaimer: Assets available on Uphold are subject to region. All investments and trading are risky and may result in the loss of capital. Cryptoassets are largely unregulated and are therefore not subject to protection.
WazirX – This exchange is part of the Binance Group, which ensures a high standard of quality. It is the best exchange for residents of India.
Status (SNT) — Mobile and Desktop OS and decentralized browser
Web 3.0 is coming, and it is coming fast. Blockchain still has problems that need solving before it can fully arrive, but decentralized tools, features, and services are already in full development, and many are already here and waiting for Web3 to arrive. Status is one example — a decentralized, blockchain-based browser that will allow you to browse the web, use its messenger, wallet, and more, on almost any device. It is a project that is thinking forward, and planning for the future, and as such, it deserves to be considered if you happen to be in a search for a new investment opportunity.
Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.
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