Status ICO Reports $100 Million Raised in Under Three Hours, Announces $1 Million Bounty Fund

Status is making three big announcements at DevCon3.  According to the company, Status raised $100+ million for their SNT token sale is under three hours. Status is also announcing the beta for “Status Hardwallet” for wireless wallet transactions, introducing a new COO who joins Status from Google, and launching an open bounty with $1M bounty fund dedicated to open source projects.

Status says it is the first ever mobile Ethereum client built entirely on peer-to-peer technologies. The open source mobile platform serves as a gateway to decentralized apps (DApps) and services built on Ethereum. According to Status, the base offering enables access to encrypted messages, smart contracts, digital currency, and more.

Existing crypto-wallets require a wired connection to perform currency transactions. As cryptocurrency becomes mainstream, Status believes there will arise a need for seamless and secure crypto transactions that will allow users store, send, and receive cryptocurrencies contactlessly with built-in NFC and Bluetooth.

Statis has also announced a new Chief Operating Officer Nabil Naghdy who was previously at Google. According to his LinkedIn profile, Naghdy spent seven years as Product Manager – Flights at Google in Switzerland. Nabil’s mission will be charting the vision, roadmap, and execution of the Status product as it moves into beta and beyond. Status says the team has now grown to nearly 40 employees and is still hiring.

“As part of an explosive, nascent product category, Status and the Ethereum ecosystem are at an inflection point,” said Nabil. “Fortunately, there’s an exceptionally active community pushing blockchain and Ethereum toward a bigger stage. We’re leading the space and making headway in bringing blockchain to the mainstream.”

Status Open Bounty fund has $1 million to uncover open source collaboration tool that gives users the power to find, contribute, and receive rewards for code contributions—and provides a useful method for organizations to source talent by creating bounties. Starting today, Status is pledging this money to open source projects that will be released over the coming months.

Status Open Bounty:

  • Rewards code contributions on chosen projects
  • Pays rewards in the cryptocurrency of one’s choice (Eth and ERC20), without the exchange rates or third-party fees
  • Provides quick setup and bounty payouts as it plugs directly into GitHub

“Status is fully committed to making decentralization a reality,” said Carl Bennetts, Status Co-Founder. “We are aware that there are challenges and there is a lot of work to be done, but our goal remains to create an Ethereum-powered world for all. We will continue to invest ourselves in the future of blockchain and push to build a strong open source community.”


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