Status is a decentralised mobile and desktop application built on the Ethereum network. It functions as a messaging app, cryptocurrency wallet, and Web3 browser, allowing users to engage in peer-to-peer instant messaging, manage crypto assets, and access Ethereum-based decentralised applications (dApps).
Status operates on the Ethereum blockchain using peer-to-peer technology for secure communication and transaction. It employs the Whisper protocol for end-to-end encrypted messaging and integrates with the Ethereum network to facilitate interaction with dApps and smart contracts. Status uses Ethereum's Proof of Stake consensus mechanism, enabling efficient and secure transactions while leveraging the network's smart contract capabilities.
Status has various applications across different sectors:
Status was founded in 2016 by Carl Bennetts and Jarrad Hope, with the vision of creating a decentralised platform for messaging, wallet, and browser functionalities. It launched a successful Initial Coin Offering (ICO) in June 2017, raising about $99 million USD. Since then, the platform has continued to evolve with significant updates, implementing Layer 2 solutions and forming strategic partnerships within the Ethereum ecosystem to enhance its functionality and user experience.