Status is a mobile application that starts with social features, combining an instant messaging client, DApp browser, and Ethereum-based light wallet, often referred to as the "Blockchain WeChat." It enables users of Ethereum’s decentralized protocols to send encrypted messages, smart contracts, and digital currencies. Built on Whisper, Status provides a chat API (Application Programming Interface) and development tools for decentralized applications, allowing users to access dApp services within the app. Status tokens are used to cover expenses such as message sending, DApp service calls, and platform advertising.
The following features are available to users through Status:
Send and receive encrypted messages, media content, smart contracts, and payments.
Browse, chat, and interact with decentralized applications and decentralized chatbots.
Use the built-in Status wallet to store and control assets; currently supports transfers of ETH and SNT digital assets. A significant innovation in cryptocurrency transactions is the ability for users around the world to bypass limitations on transferring different fiat currencies.
The built-in DApps include five modules: exchanges, marketplaces, games, social networks, and utilities.
The goal of Status is to become a gateway for blockchain traffic, distributing it to various parties. Users can use Status for encrypted communication, payments, and as a wallet. Analogous to the WeChat model, Status aims to be the “entry point” for decentralized applications, akin to an operating system for Ethereum-based decentralized applications. Users can access decentralized applications built on Ethereum through Status, which also helps DApp developers reach new audiences.
Main Differences Between Status and WeChat
1) DApp Browser vs. WeChat Mini Programs:
DApp Integration: Developers can integrate web-based DApps via the official webpage, and Statuss built-in browser allows users quick access.
Unlike mobile clients and WeChat mini programs, integrating web-based DApps into Status is more convenient, but essentially users open a webpage, similar to a lightweight mini program.
2) Instant Messaging System Design:
Statuss integrated instant messaging system uses Ethereum’s sub-protocol Whisper, ensuring messages are transmitted between nodes and protected from third-party snooping on both the messages and metadata.
WeChat’s communication protocol uses TCP-HTTP for transmission. Messages are encrypted, but packet sniffing tools can capture the ciphertext, which can be decrypted if the algorithm is known. Additionally, chat records are stored on centralized servers, posing a risk of third-party access.
3) Wallet Payment Functionality:
Status facilitates transfers between Ethereum addresses, allowing users to check transaction statuses.
Users can receive/send digital assets without restrictions imposed by centralized institutions, such as account freezes, transfer limits, or payment restrictions.
Status’s wallet function, i.e., its digital currency wallet feature, breaks down barriers to transferring fiat currencies between different countries, enabling cross-border digital currency transfers.
Status improves upon centralized instant messaging tools and social networks in terms of message delivery, misuse of user information, and limitations on virtual funds accounts. However, considering the current state of Status’s product functionality, it needs to offer additional features like voice messages, attachments, and file transfers. It must also address high migration costs for users switching from existing instant messaging software and social networks, as well as the limitations on DApp user experience due to reliance on Ethereum network developments.
Purpose of SNT Tokens
The token symbol for Status is SNT, and its uses within the Status ecosystem include, but are not limited to:
Holding SNT is required for governance mechanisms, where the number of tokens held determines voting power on decisions;
GitHub bounty bot, where bounties can be created for GitHub issues, and if a developer implements the feature, they receive the bounty;
Creating semi-public group chats using SNT;
Users select and receive push notifications using SNT;
Registering usernames on the Status network requires SNT;
DApp developers may only allow registered Status users to post in discussion forums;
Using SNT for depositing collateral in the retrieval engine;
Paying a token deposit in the Status network, which is transferred to the recipient upon receiving their reply;
Emoji service, where holding SNT enables participation in the emoji marketplace for trading, management, and signaling.
