Poloniex has announced the listing of Status (SNT) just days after it listed EOS. The popularity of the SNT and other ERC20 based tokens is one of the latest strategies the exchange is using to expand its global reach. However, the choice of the new digital asset is based on their infrastructure growth and the team working behind it.
Status (SNT) has been in the forefront of improving its network with a goal of achieving the ambitious million TPS. The platform is also aiming at beating Ethereum as the next dapp development frontier adding its dwindling popularity among ICO and other start-up blockchain based projects.
While making the announcement to add Status (SNT) and Kyber Network (KNC), Poloniex, through the official twitter handle said:
After the announcement, it is now possible to deposit and withdraw SNT tokens from Poloniex. The pairings of SNT/BTC, SNT/USDT and SNT/ETH are live. Status is riding on the growing mobile phone usage to develop an app on the Ethereum that enables easy interaction with other apps in a decentralized environment.
Status (SNT) and Kyber Network (KNC) performance in the market has been quite impressive and the listing will be able to sustain their momentum despite the skydiving market. One day after the listing, the two coins are trading on the green with SNT gaining 2.78% to the dollar and Kyber Network (KNC) has gone up by 3.18% to the green buck in the last 24-hour trading period.
Why the Interest in Status (SNT)?
SNT, the native status token makes it easier for users to its dapp focused browser on their mobiles to access Ethereum nodes on their smartphones. This makes it easier to communicate with other dApps on an easy to use interface to send and receive encrypted messages and secure transactions while on the go.
Status is also playing a critical role on the Ethereum outfit by bringing onboard a very unique infrastructure. This will boost the Ethereum market penetration and visibility since the blockchain can also be easily accessed through an internet enabled gadgets’ interface.
Status is a light client and mobile friendly that puts the entire Ethereum network in your hands. In its simplicity, the app lets you securely store Ether and other ERC20 digital assets. Its browser allows you to discover other apps and you can also sell your Ether anytime, anywhere as long as you have access to a mobile phone and internet.
Status (SNT) OmiseGO (OMG) Partnership
Status has been in the news lately after OmiseGo reached out for collaboration in early July, 2018. These are two very young but promising projects and are both Ethereum powered. The aim is to add the OmiseGo exchange on Status light client for increased visibility.
Although the deal is yet to go live, the Status ecosystem has the capacity to integrate social media and chat leading to tokenization with ETH and this can be a major boost for the three outfits. According to the Status team:
“Status and OmiseGo share a common vision to make the world a more open and equitable place through easy access to the Ethereum public blockchain. While OmiseGo focuses on building open infrastructure and open financial tools, Status focuses on putting these tools into the hands and pockets of people around the world,”
If the integration goes as per the plan, Status vision to a million TPS will be able to process the social media and chat transaction requests without being bogged down by congestion; a good lesson from the Ethereum-CryptoKitties’ debacle.