Status (SNT) coin is not grabbing any headlines but very active on the technology front

Status coin has performed similarly to the rest of the market in the last couple of weeks. We saw it peak around July 5th, when it reached levels of $0.0887/1342 satoshi. Ever since it has been a slippery slope for the currency, as it kept losing value throughout the month before reaching the monthly low of $0.0601/780 satoshi. In August we’ve seen a similar picture as Status fell to monthly lows of $0.0324/537 satoshi around 14th.

[vcw-full-card symbol=”snt” color=”black” currency1=”USD” currency2=”BTC” currency3=”ETH” url=”” target=”_self”]

SNT has been moving sideways for the most part during the last couple of days and is currently priced at $0.038485 USD (1.17% drop in the last 24 hours)/595 satoshi (1.44% drop in the last 24 hours). Daily trade volume is at measly 631.18 BTC. SNT sports a market cap of $133,561,692 which makes it the 52nd most valuable cryptocurrency on the market.

Most publicized news regarding Status as of late was its addition to Poloniex.

This once famous but now a bit forgotten exchange has been slowly regaining its popularity, mostly because of its newfound interest in various ERC-20 tokens. Following that trend, Status and Kyber were recently announced as its latest additions. Deposits and withdrawals of both token went live on the platform; as for Status, you can trade in three different pairs: SNT/USDT, SNT/BTC and SNT/ETH.

?Read here about best DASH crypto wallets.

However, there was much more going on behind the curtain with this project, which works as an open source mobile DApp browser and messenger built for Ethereum. Santiment, a project focused on delivering transparency and a deeper insight into the crypto world to wider audiences, recently published a list of most active cryptocurrencies in the last 30 days, when it comes to project development. Status managed to place first on this list, thanks to an active and dedicated developer community.

The work they do isn’t that well publicized but most of it can be found on the project’s official Youtube channel. The channel started posting regular Core Devs Meetings about a week ago and the second meeting was held on August 20th. Topics discussed during this last meeting included light clients (LES and ULC), desktop/mobile code sharing and automated testing, hardware wallet questions, security etc. You can find the mentioned video here.

The mentioned YouTube channel is a host to another running series called Status Town Hall. The latest episode of this was held on August 13th and the team addressed questions regarding Status principles, which include liberty, censorship resistance, security, privacy, transparency, free culture, decentralization, inclusivity, continuance and resourcefulness. They also presented a list of issues about their project they already fixed or are aware of and are fixing, which included:

  • Seed phase stored in database
  • Weak certificate checks
  • JSON-RPC server required to work
  • Spam on the network
  • Usage of MixPanel
  • Easy DDoS with whisper packages
  • End-to-end deterministic builds
  • Perfect forward secrecy
  • Cluster single point of failure
  • Transparency with its technical flaws

Clearly that last one was addressed immediately as the sheer number of issues listed does imply increased transparency, if it makes one wonder how reliable the code is. Still, similar issues are a regular occurrence with crypto projects so it’s to be expected that Status will fix them soon enough. Among other things, the team focused on drafts and outlines of what’s to come in the following months. You can (and you should, if you are interested in Status) check out the complete Town Hall here.

Several partnerships were announced as well. Apart from the old one with OmiseGo, Status decided to engage in the following team-ups as well:

  • Smartz was added to the Status dApps catalogue
  • im partnered with the core team developing Nim programming language to bolster research efforts for Nimbus, a sharding client for Ethereum
  • Pixura, a protocol for digital asset ownership, became a member of Status Incubate
  • 3-week Digital Hackathon in Partnership with Bounty One and BlockGeeks was confirmed

As things stand, Status seems like a project that isn’t focused on grabbing too many headlines, and most of the team is either busy with development or with bringing new people aboard. They encourage their community to tune in and help them out, either by volunteering or applying for one of the many positions that are currently looking to fill. Check out their Town Hall video to learn more and to stay in touch with the project.

intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

Sarah Wurfel
Sarah Wurfel

Sarah Wurfel works as a social media editor for CaptainAltcoin and specializes in the production of videos and video reports. She studied media and communication informatics. Sarah has been a big fan of the revolutionary potential of crypto currencies for years and accordingly also concentrated on the areas of IT security and cryptography in her studies.

We will be happy to hear your thoughts

Leave a reply