In the wake of recent event, where the social media giant, Facebook was under fire for security breaches and unsolicited sharing of users personal information, it is now more than ever that we need digital platforms that are more in control of the users. And Viola! This solution comes in the form of blockchain tech, the main selling point of which is decentralization, exactly what we need. Status, the blockchain-powered mobile operating system, will completely change the way the world interacts on social media.
Basically designed as a decentralized browser and private messenger, Status gives its users the power to connect to the entire Ethereum network, in the palm of theirs hands. And because it operates as a light client node on Ethereum, users have an open access to all of Ethereums decentralized apps (dApps).
Reinventing the Social Networks
The Status network has taken it upon itself to break the unbalanced style of social media platforms. The problem with the already established social network platforms is that all the control lies with the owners and advertisers. Meanwhile, on the other hand, users are left with very little or no power to control what personal information they share. Here’s a breakdown of how the traditional social networks work, with the mentioned three players.
More often than not, the owner is the creator of the network and fulfills two roles, recruiting and retaining users to their social media platform.
The advertiser provides the opportunity for the owner to extract value from the network and its users. In this entire process, through the purchasing of user data or purchasing ads for products and services, it is the advertiser that ultimately plays a key role in sustaining the social media network.
Users turn to social networks in order to connect with friends or to share their own special interests. However, users have almost no power over how the network is developed or even over the information they, themselves, consume.
The Status Networks Solution
Users as Stakeholders
First of all the Status Network empowers the users more so than the owners or advertisers. It achieves this shift of power by enabling the users to become actual stakeholders in the very network they participate in. Thus giving them the complete control over what information they share, in addition to being able to vote on the future development of the network.
The Status Network Token
It is through the issuance of Status Network Tokens (SNT) that the users dawn the role of stakeholders. The SNT is a modular utility token that powers the network.
By default, Status is free to use and communicate with, however, SNT is required in order to gain access to certain features of the Status Mobile Ethereum Client, which will be explained later.
Status User Names
On Status network, users are currently identified by a SECP256k1 public key; however, the team is now working, to create a username-to-SECP256k1 public key resolver on the Etherenum Name Service that allows that stakeholders to register usernames on the application.
In order to remove spam accounts, Status has made a policy that allows only the accounts holding SNTs with the rights to reserve a username.
Status also gives its users the ability to receive a badge that indicates the account is trustable, similar to how Twitter recognizes verified accounts with badges. To receive these badges, Status stakeholders have to deposit SNT against usernames at a premium.
Status Mobile Ethereum Client
The Status application is currently available for both Android and iOS. To download it on an Android device, you simply have to search and download Status from the Google Play store.
Downloading it on your iPhone, however, takes a few extra steps since the application hasn’t yet made it to the Apple App Store. You can still download it though, just head over to Status’s website and follow the directions laid out on its homepage.
Key Features of Status
Here is a quick run through of all the implemented features listed on Status’s whitepaper.
Decentralized Push Notification Market
Status’s decentralized push notification market enables the user to choose which nodes in the network provide service to them. It also permits the users to choose what kind of push notification providers they’d like to use and gives them the flexibility to set privacy levels as they can opt in or out of any service.
Any SNT holder can make a decision proposal on the network.
Status Voting Protocol
- For every decision to be made on the network, the user’s SNTs are cloned into separate decisions tokens.
- The number of SNTs held by the user is directly proportional (1:1) to the number of decision tokens that the user receives.
- It does not cost any SNTs to vote on proposals.
Status users also have the ability to opt-in to curate the content that’s specifically displayed on their application. This process of approving or disapproving content on Status is known as signaling.
Stakeholders have the power to set a minimum amount of SNT that is mandatory for a Status user to deposit as a tribute for someone outside of their network in order to contact them.