The world of cryptocurrency and blockchain can be complicated for the new user as well as the seasoned veteran. Developers on the various chains know this and are developing software that will enable cryptocurrencies and blockchain technology, easy to interact with by making the access points more familiar to what the masses are used to.
Ethereum, which is one of the most, if not the most developed blockchains, has an open source project by the name of Status.IM which is bringing this familiar feel to the masses in a neat DApp with some power packed features.
Status.IM comprises of:
- An instant messenger using the latest in encryption technology made by Ethereum called Whisper
Whisper uses peer-to-peer dark routing–making it impossible for anyone (including us) to know anything about you or who you're communicating with. We're also conducting R&D in improved messaging protocols.
- A crypto wallet for sending, receiving,storing and managing Ethereum based tokens.
- A comprehensive and very organized DApp Explorer which uses Web 3.0 Browser specs so activity isn't tracked by third parties.
- A token called SNT with an abundance of use cases now and many in research.
Status is a messenger, crypto wallet, and Web3 browser built with state of the art technology.
The Status.IM is unreleased in App stores at the moment and can only be downloaded using Testflight for IOS devices or as Google Play Unreleased. Andriod App.
Note: Be sure to save your log in password, Keyphrases and 3 word transaction confirmation code.
Let's dive in to the features.
Chat
The chat allows you to communicate one to one, in groups and open forums. You can also create a unique Ethereum Name using ENS Ethereum Name service Which enables you to have a name that is easy to search, recieve tokens and gets rid of two line hash that represents individuals on the Block. As mentioned before Status.IO uses the latest in security technology and conversations can't be seen by anyone else but the parties intended.
Status uses the ‘Double Ratchet’ algorithm on top of Whisper and end-to-end encryption for the highest grade of security and privacy.
Highly Organised DApp Explorer
The DApp Explorer is pretty cool, I like how well it is organised. The built in Web 3 browser makes it impossible to track your browsing. The DApps also run smoothly from within Status.io. Using the Whisper protocol, you can communicate with the various DApps and transact easily, giving the DApps only what they need and no more, leaving you secure.
Extensive Crypto Wallet
The Crypto wallet stores all ERC20 & ERC721 Tokens. In update 0.13.0. they also added a cool feature that allows you to add tokens not yet listed on status.io, so if a new Token is launched or you just made your own tokens, you can store and transact with them easily by simply adding them manually. ( More on that later)
The Crypto wallet gives you complete control of your private keys and a three word code adds an extra layer of security against phishing attacks ( don't see your 3 word signing phrase come up before a confirmation needs to be made? Run for the hills with your funds.... or just report it to the status team.
The wallet is integrated with the DApp explorer/ browser and the chat, which enables complete communication on all levels of the blockchain, human, Tokens, DApps, what more could we ask for?
The most recent update to Status.IM 0.13.0 ( Add Custom Tokens )
As mentioned before, status.im allows you to add Tokens manually. this is very handy as Ethereum based tokens are popping up like mushrooms, even government bodies are using them. And you may find yourself creating one yourself in the near future so pay attention.
To use the Custom Token feature, simply click the 3 dots to the top right once you are in the wallet tab and the "Manage Assets" menu will pop up.
Once you are on the next screen the option will appear to "add custom token", Click it.
Now you are ready to add your custom Token. The main thing you will need is the contract address, name of your token and symbol. Then add it to your wallet and the balance will be shown. And now you are ready to transact using that token. As simple as that.
Final Thoughts
Status.Im is a very good tool for interacting on the Ethereuem Blockchain. Though a bit unpolished at the moment, the features it packs makes it quite easy for anyone to interact with the Ethereum Blockchain. The Chat is a feature I have not really seen on many crypto wallets. Status.Im is much more than a crypto wallet, it is a community building tool with money and exploration.
This tool that these developers around the world have been working on makes for faster sharing of information, seamless transaction of funds and a way of true decentralised governance as the SNT tokens allows holders to vote on the direction Status.IM takes.
Hold some Ethereum based tokens? Download Status.io for IOS or Andriod App and see the value in this tool yourself.
For more information see the links below.
Website
GitHub
Medium
Twitter
Youtube
DISCLAIMER
This is not financial advice, nor a guarantee or promise in regards to any result that may be obtained from using the above content. The information provided here is for informational and entertainment purposes only. It should not be considered as financial and/or investment advice. No person should make any kind of financial decision without first consulting their own financial adviser and/or conducting their own research and due diligence.