Status Network has a functional value to offer: it is a fully decentralized messaging system and Web3 browser with a community feature where users can create and control their own worlds and send money through the Status wallet.
Its messaging system is peer-to-peer; it has end-to-end encryption to ensure that only the recipient is the one who can see the message. Status messenger does not rely on any centralized system; instead, messages bounce from node to node, distributed around the world. These nodes solely route the message without having access to seeing it. Status makes messaging and net surfing free from censorship and other forms of government interference as it does not need personal data to create a user account.
An ERC-20 token that powers the different use cases of the Status Network is called Status Network Token or SNT. Stakeholders have voting rights in network development. Developers are incentivized with SNT tokens to build dApps on the platform.