ICO of the project - 06. 2017
Standard of the token – ERC-20 Ethereum
Listing - https://coinmarketcap.com/currencies/status/markets/
Market capitalization – $30 619 318 USD
Total emission – 6 804 870 174 SNT
In circulation - 3 470 483 788 SNT
Coinmarketcap rating - № 85
Maximal price of the token over the time - $0,675945 USD
Minimal price of the token over the time - $0,006196 USD
Website of the project - https://status.im
Blog - https://our.status.im
Facebook - https://www.facebook.com/ethstatus
Twitter - https://twitter.com/ethstatus
SNT cruptocurrency review
Status Network - is a project of a platform, positioning itself as a multi-purpose decentralized communications medium, combining in itself a P2P messenger, decentralized crypto-wallet and Web3 browser.
Here, many users can find familiar “hints” of the Chinese giant WeChat.
This is the first mobile client Ethereum, completely built on P2P technologies.
The essence of foundation of Status project’s concept lies in commitment to be really decentralized mean of communication – in the end, removing all the third parties and minimizing attack vectors for intruders.
The genuine advantage of Web3, provided by the platform, is an opportunity to make transactions and communicate under our own conditions – without mediators. However, in order to utilize such format of free communication, we are to be sure that our messages, transactions, personal data and funds are in safety.
Safety in Status is founded on the following pillars :
- Creation of an account without server, safe identification;
- P2P message exchange;
- End-to-end encryption by default and absolute secrecy;
- Safe browser Web3
- Safety of transactions and Status wallet;
- Strict security audit.
Let’s address all the aspects and conceptual components one by one.
1. Creation of an account without server, safe identification.
When you create your account in Status, a third party will never require confirmation, such as email address or phone number. You can register and create Status account absolutely anonymously.
At that, two-factor authentication and password recovery are not supported and, therefore you’ll need to definitely remember your password and mnemonic phrase and save them in a secure place.
This solution is available, thanks to blockchain technologies.
Your personality in Status starts from a local generated cryptographic couple of keys, which thereafter is protected by password. It’s all what is required.
Then, a user has an opportunity to add information to his profile in order to define, who he is in Status. A user always has full control over his information and over the persons who have access to it.
In the end, a user can be as accessible as he wants.
Status will never use third-party services for management and storage of your opened and closed keys. After generation, the first key BIP44 is saved in the file json of key storage locally on your device.
This file is encrypted by a password, selected for your Status account and is available only for Status app.
For additional level of security Keycard is provided, which serves as an autonomous cold storage for management of personal keys and operations therewith.
2. P2P message exchange.
Status uses Whisper protocol for P2P connection, which means that there are no servers, processing or storing your messages.
Instead of it, Whisper uses the chain of P2P nods for routing of messages towards each other.
Each message sent is transferred all over the network and is encrypted for opening by the alleged user. The effect of each message, filling the network, is known as “dark or hidden routing” and protects not only the content of your messages, but also metadata on where from you are communicating etc.
It’s the highest standard of security and privacy in online messages and Status team is studying more scalable and effective means of provision of this standard.
3. End-to-end encryption by default and complete secrecy.
All the personal messages, sent through Whisper protocol, are encrypted by end-to-end encryption by default.
When you create your Status account, a cryptographic pair of keys is created for encryption of your messages, that is stored locally on your device. When you add a new contact into Status, you exchange open keys, in order for this person to be able to decipher your messages upon receipt through network.
Moreover, in order to ensure complete confidentiality, PFS is applied – this is a feature of particular protocols of agreements on keys, that guarantee that your session keys won’t be compromised, even if the personal keys of participators are compromised.
In particular, last messages can’t be deciphered by a third party, which manages to receive a closed key. It is based on the specifications X3DH and Double Ratchet from Open Whisper Systems, with some adaptations for work within a decentralized environment.
Perfect Forward Secrecy is an additional level of security for all of your personal P2P chats.
4. Safe browser Web3.
Status browser is intended for informing an end user and providing the security of his funds.
Browser’s confidentiality mode is on by default. It means that DApps (decentralized applications) will have to request a permission before connecting to your wallet, and this can lead to failure of some DAppa (if they are not compatible with this security measure).
And, finally, the browser Web2 realized EIP712; aim thereof is to increase the convenience of using messages signing beyond the chain for utilization in the chain. Lately, the technology of message signing beyond the chain has received wide appreciation, since it decreases the quantity of transactions in blockchain. The messages signed represent non-transparent hexadecimal line, displayed to a user with a little context on elements, making up a message.
5. Safety of transactions and Status wallet.
Status wallet grants you full control over your funds without utilization of server. Closed keys are stored in an encrypted form on your device and your money is under your control, - no one can receive access to it without a closed key.
Status creates a mnemonic phrase, required for confirmation and “signing” of all the transactions. Phrase of signature is represented by a phrase from three words, generated randomly for you and stored locally on your device, being displayed at every attempt to send transaction. You will be provided with a signing phrase, and you’ll need to accept it before confirming the transaction.
Surely, if you lose your mnemonic phrase, you will never be able to recover access to your funds. So, keep your personal keys in some safe place.
6. Strict security audit.
Upon achievement of the main stage in development, after rounds of own internal analysis and audit, the developers of the platform contact leading third-party audit companies of the industry, in order to verify their productivity and recheck their work two or three times.
These additional tests from objective third parties help to enhance the confidence in security and alleged functionality of the project, its components and conceptual aspects.
Token of the project is SNT, that is required in order to ensure specific functions of an app and creation of decentralized ecosystem with open source code, based on the standard ERC-20 Ethereum.
ICO of the project was conducted on 20th of June 2017.
Over the course of it, $ 107,664,907 USD were collected.
Total emission of the token amounted to 6 804 870 174 SNT.
Currently, there are 3 470 483 788 SNT in circulation.
Market capitalization is equal to $30 619 318 USD.
The highest market price of SNT token was observed on 04th of January, 2018 and amounted to $0,675945 USD per token.
The lowest price of the token was noticed on 13th of March, 2020 and was equal to $0,006196 USD per token.
SNT token has passed listing on exchange platforms, including Inanomo , IDCM, Coinbit, LATOKEN, OKEx, MXC and is most often traded in the following pair combinations SNT/BTC , SNT/USDT , SNT/ETH .