Until the network is ready to handle use at scale, though, the company is not pushing adoption, Grau explained. Read more: Blockchain Gaming, Messaging Apps See User Growth Amid Coronavirus Lockdowns The company reported a significant uptick in new users at the start of the coronavirus pandemic. Grau said the Status app is used heavily by crypto’s hardcore, and it has seen very strong developer activity. That’s why the company has been relatively quiet in terms of pushing adoption. In April, Status announced it would fork Whisper to create Waku, a more scalable messaging protocol. That said, the main protocol for running those kinds of messages, Whisper, has been underutilized and under-powered. This gives messages more paths to reach users and makes it much harder to censor. However, he explained, the platform has committed itself to routing its messages over Ethereum nodes (which doesn’t mean they are logged on the blockchain). “We just want to bring chat back to the people.” “The internet is today on centralized platforms,” Grau said. The stated purpose of the round was to create a crypto-native messaging app along the lines of Telegram or WhatsApp. Read more: Ethereum Chat Startup Status Lays Off 25% of Staff Despite being well funded, Status faced serious cutbacks during last year’s Crypto Winter. Running in June 2017, the token sale ultimately raised slightly over $100 million. What’s the status of Status?īefore CryptoKitties wrecked Ethereum that December, the Status ICO clogged up the blockchain first, making it nearly impossible to get transactions through.
While Status is focused on the Ethereum ecosystem, Keycard works with most major cryptocurrencies. “It would be particularly interesting in countries where it is difficult to open a bank account.” “Now we are working on developing an open payment network,” he said. Grau said the company wants to seed the payments use case. Any other app that wanted to use it as a form of 2FA could do so.
KEYCARD STATUS SOFTWARE
The software that runs Keycard is all open source and written under open standards.
KEYCARD STATUS ANDROID
To use as 2FA, a user simply needs to open the relevant app and, when the 2FA prompt comes up, hold the card to the back of the Android phone and enter the PIN. At a point-of-sale system, for example, a user could simply tap their Keycard and then enter the PIN on the store’s device, and that would approve the transaction. That said, a mobile device is not essential for using Keycard. Related: Activists Document Police Misconduct Using Decentralized Protocol Grau said it should work very soon with the Status iOS app as well.
The Keycard will work now with the Status Android app. If a user lost their Keycard, they could restore the wallet using their mnemonic phrase, provided they have kept track of it. The private keys on the card are additionally protected by a PIN, so if someone stole or found a person’s Keycard, they would not be able to access the funds it controls. Read more: Status Launches a ‘Tap-to-Pay’ Crypto Hardware Wallet “Some users want to have their private keys outside of any connected device.” “If you are a regular Status user without a Keycard, your private keys are in your mobile phone,” Guy-Louis Grau, the product manager for Keycard, told CoinDesk. Related: ‘Social Money’ Startup Inks Deal With Rapper Ja Rule, Releases Song With Lil B
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