Status ICO Raised More Than $100 Million for Ethereum Powered DApps on iOS and Android

Being in a small but passionate bubble of first adopters, it is important to get the mainstream’s (outsiders) views and opinions about this beautiful crypto-tech and not just news from within the echo-chamber. These post will share that news in hopes to give us deeper perspective so that we can make more informed decisions going forward.

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Initial coin offerings are the new hottest thing. Startups are raising millions of dollars, and in some cases hundreds of millions of dollars, very quickly.

Status has raised more than $100 million through its initial coin offering, according to an early estimate. In fact, one of the very first transactions involved someone who believed in the company so much that he or she put up $8.5 million worth of Ether into the ICO.

According to their website, "Status is an open source messaging platform and mobile browser to interact with decentralized applications that run on the Ethereum Network."

The most impressive thing about its technology is that it will be the first implementation of Ethereum on iOS and Android. You will be able to use DApps (decentralized applications) that are powered by Ethereum.

Built into this project is a private messaging app powered by Ethereum. The public and everyday user is going to be able to see, touch and engage with the Ethereum platform through Status.

I wouldn't be surprised if we see major companies start building DApps to essentially host on Ethereum and the Status Network.

But this wasn't all without hiccup. For the first several hours, ICO speculators had a very hard time getting involved. Transactions were failing by the thousands, and since these transactions were failing and the sheer volume it put significant stress on the Ethereum Network. Ethereum has a smart contracts feature that allows others to essentially run a token based Kickstarter on the Ethereum blockchain.

It did slow down and have many issues, but at the end of the day more transactions started going through and the backlog was cleared. This was another win for Ethereum that nothing completely broke and everything eventually was processed.

Many people did miss out that had transactions fail without re-attempting them multiple times later in the day. All of this buzz and "FOMO" could make for one of the wildest trading days once SNT (the name for Stratis' tokens) are released on the exchanges for open trading.

The ICO craze isn't slowing down anytime soon. The next highly anticipated ICO is TenX, and that's launching this Saturday morning. TenX figured out how to make cryptocurrency spendable on a debit/credit cards at businesses all over the world.

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