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STAT

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Discover STAT's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is STAT?

The STAT cryptocurrency is a digital asset that utilizes cryptography to secure transactions recorded on a distributed ledger, known as a blockchain. It operates independently of central banks or governments, allowing for anonymous transactions. STAT is one of the many cryptocurrencies available, with a market capitalization that contributes to the global crypto market value. Understanding the technology, team, and community behind STAT is crucial for investors, as well as evaluating its vision, roadmap, and tokenomics to make informed investment decisions.

How is STAT used?

The STAT token is a cryptocurrency designed to facilitate transactions and interactions within a specific ecosystem. Here is how it is used:

Transactions and Payments
  • Digital Payments: STAT is used for digital transactions, allowing users to make payments online and in-store. It is commonly used for purchases such as computer games and other digital goods.
  • Wallet Integration: STAT transactions are supported by various wallets, including the BitPay Wallet, which is the most popular wallet used for these transactions.
Use Cases
  • Rewards and Refunds: STAT is used for rewards, rebates, and refunds, making it a popular choice for payout transactions.
  • Lightning Network: STAT is also used on the Lightning Network, which enables faster and more efficient transactions. The Lightning Network is commonly used for VPN and hosting services.
Adoption and Statistics
  • User Base: STAT has a significant user base, with over 425 million cryptocurrency users worldwide.
  • Adoption Rate: The adoption rate of STAT varies globally, with countries like Nigeria and Turkey having high adoption rates.
  • Market Value: The collective value of STAT and other cryptocurrencies exceeds $1 trillion.
Security and Regulation
  • Security: STAT transactions are secured through cryptography and blockchain technology, ensuring the anonymity and security of users.
  • Regulation: Governments are increasingly analyzing how to regulate cryptocurrencies like STAT, with the U.S. President signing an executive order for a broad review of digital assets in 2022.
Environmental Impact
  • Mining: The mining process for STAT consumes significant computing power and energy, contributing to environmental concerns.
Investment and Trading
  • Market Volatility: The value of STAT can be volatile, making it a risky investment. It is essential to understand the risks involved and consult a financial advisor before making any investment decisions.
  • Trading Volume: The trading volume of STAT and other cryptocurrencies is substantial, with billions of dollars traded daily.
Analysis and Evaluation
  • White Paper: To evaluate the potential of STAT, it is crucial to analyze its white paper, which outlines the project's goals, technology, and roadmap.
  • Tokenomics: Understanding the distribution, circulation, and total supply of STAT is essential for investors, as these factors affect its price over time.
  • Community Engagement: Engaging with the STAT community can provide valuable insights into the project's potential and separate hype from substance.

How do I store STAT?

To store your STAT tokens, you can use a variety of options:

  1. Crypto.com App: You can store your STAT tokens in the Crypto.com app. The app allows you to manage your crypto assets, including depositing, buying, selling, and tracking your tokens. You can access the app's settings to customize your experience, including setting up biometric authentication and enabling two-factor authentication for added security.

  2. CoinTracking: CoinTracking is a leading crypto portfolio tracker that supports over 300 exchanges and wallets. You can connect your wallets and exchanges to track your STAT tokens and generate tax reports. The platform offers various themes and languages to customize your experience.

  3. CoinStats: CoinStats is another popular crypto tracker that supports over 20,000 coins, 300 exchanges, and wallets across 100 blockchains. You can connect your entire portfolio to track, buy, swap, and stake your assets, including STAT tokens. The platform offers a free trial and a premium plan with additional features.

  1. BitPay Wallet: BitPay is a well-known crypto payment processor that offers a wallet service. You can store your STAT tokens in the BitPay wallet, which is known for its high payment success rate.

  2. Other Wallets: You can also store your STAT tokens in other wallets like MetaMask, Coinbase, or Trust Wallet, which are supported by various crypto tracking platforms.

Remember to always follow best practices for securing your crypto assets, such as using strong passwords, enabling two-factor authentication, and keeping your wallet software up to date.

How to buy STAT?

To buy STAT (STAT) tokens, you can follow these steps:

  1. Choose a Reliable Exchange:
    Find a centralized exchange (CEX) or decentralized exchange (DEX) that supports STAT trading. You can refer to Coinmarketcap.com's Markets section to find a list of exchanges where STAT is listed.

  2. Register and Verify Your Account:
    Sign up for an account on the chosen exchange's official website or app. Verify your identity and secure your account by enabling two-step verification.

  3. Buy a Base Currency:

Purchase a cryptocurrency that can be easily bought with fiat, such as USDT, BTC, ETH, or BNB. This will be used to trade for STAT.

  1. Transfer Base Currency to STAT-Supporting Exchange:
    If the exchange where you bought the base currency is different from the one that supports STAT, transfer the base currency to the STAT-supporting exchange.

  2. Buy STAT:
    Use the base currency to buy STAT in the spot market. Ensure the exchange supports the STAT trading pair with your base currency.

  3. Store Your STAT:

You can store your STAT on the exchange's wallet or transfer it to a personal crypto wallet for safekeeping.

Remember to always follow the specific procedures of the exchange you are using and be cautious of scams.

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History of STAT

The history of the cryptocurrency STAT (STAT) is not explicitly mentioned in the provided sources. The sources primarily discuss general statistics and facts about the cryptocurrency market, including Bitcoin and other prominent cryptocurrencies, but do not specifically mention STAT.

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How STAT works

The STAT token is a cryptocurrency that operates on a blockchain network. Here's a detailed overview of how it functions:

Blockchain Technology

The STAT token is built on a blockchain, which is a decentralized, digital ledger that records all transactions. This ledger is maintained by a network of computers rather than a single central authority, ensuring transparency and security. Each block in the chain contains a list of transactions, and once a block is added, the information it contains cannot be altered.

Decentralized Network

The STAT token operates on a decentralized network, meaning that transactions are verified and recorded by a network of computers rather than a central authority. This decentralized structure allows for peer-to-peer transactions without the need for intermediaries, making the system more efficient and secure.

Cryptographic Security

Transactions involving the STAT token are secured using advanced cryptography. This ensures that all transactions are encrypted and can only be accessed by the sender and the intended recipient. The use of cryptography also prevents unauthorized access and tampering with transactions.

Mining and Validation

New blocks are added to the blockchain through a process called mining. Miners use powerful computers to solve complex mathematical problems, which helps to validate transactions and secure the network. Once a miner solves the problem, they are rewarded with newly minted STAT tokens and any transaction fees associated with the transactions in the block.

Transaction Verification

When a user initiates a transaction involving the STAT token, it is broadcast to the network. Miners then verify the transaction by checking the sender's digital signature and ensuring that the sender has the necessary funds. Once verified, the transaction is combined with other transactions in a block and added to the blockchain.

Public Ledger

The blockchain is a public ledger, meaning that anyone can view all transactions that have taken place on the network. This transparency helps to build trust and ensures that all transactions are legitimate and tamper-proof.

Tokenomics

The STAT token has a specific tokenomics, which includes the total supply of tokens, token distribution, and the rate at which new tokens are minted. Understanding these factors is crucial for investors, as they affect the overall price of the token over time.

Community and Governance

The STAT token is often supported by a community of users, developers, and investors. This community plays a crucial role in the token's development and governance, ensuring that the project stays on track and that any issues are addressed promptly.

Roadmap and Vision

The creators of the STAT token have a clear vision for the project, which is outlined in the white paper and on the project's website. This vision includes the problems the token aims to solve and the potential user base. The roadmap provides a timeline of events that outlines the project's expected progress, with clear milestones and goals.

Security Measures

To protect against scams and ensure the security of the STAT token, it is essential to follow best practices. These include never sharing personal information, using regulated and reputable exchanges, being cautious on social media, and avoiding suspicious offers or unverified apps.

In summary, the STAT token operates on a decentralized blockchain network, utilizing cryptographic security, mining, and validation to ensure the integrity of transactions. The token's tokenomics, community, and governance structure all play critical roles in its development and success.

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STAT's strengths

The Strength Token and the Vulnerable Token are both used in the Darkest Dungeon game. Here are their strengths and differences:

Strength Token
  • Additive Damage: The Strength Token adds 50% of the base damage to an attack, making it a reliable choice for heavy hitters.
  • Guaranteed Benefit: Strength Tokens are almost always used by heavy hitters, ensuring maximum benefit from the token.
Vulnerable Token
  • Multiplicative Damage: The Vulnerable Token adds 50% of the final damage to an attack, making it more effective when combined with other damage bonuses.
  • Block Cancellation: Vulnerable Tokens cancel out block tokens, ensuring that the attack lands without any protection.
  • Rarity: Vulnerable Tokens are rarer than Strength Tokens, making them more valuable in certain situations.
Key Differences
  • Application: Strength Tokens are better suited for strong abilities, while Vulnerable Tokens are more effective when used by any character, especially in multi-target attacks.
  • Removal: Strength Tokens are removed when an attack misses due to blind or dodge, whereas Vulnerable Tokens are only removed when the attack hits.

In summary, the Strength Token provides a consistent damage boost, while the Vulnerable Token offers a more significant damage increase but with the risk of being wasted on weak attacks.

STAT's risks

STAT, as a cryptocurrency project, is exposed to various financial risks that can impact its value and stability. These risks include:

  1. Market Risk: STAT's value can fluctuate significantly due to changes in market conditions, such as supply and demand imbalances, regulatory changes, or global economic shifts. This volatility can lead to losses for investors.

  2. Credit Risk: If STAT is used for lending or borrowing, there is a risk that borrowers may default on their loans, causing financial losses for lenders.

  3. Operational Risk: Poor management, technical issues, or security breaches within the STAT ecosystem can lead to financial losses, damage to reputation, and a decline in investor confidence.

  1. Liquidity Risk: If there is low liquidity in the STAT market, investors may struggle to buy or sell the cryptocurrency quickly enough or at a favorable price, leading to potential losses.

  2. Regulatory Risk: Changes in regulatory policies or laws governing cryptocurrencies can negatively impact STAT's value or even render it illegal in certain jurisdictions.

  3. Speculative Risk: STAT's value can be influenced by speculative activities, such as market manipulation or pump-and-dump schemes, which can result in significant losses for investors.

  1. Currency Risk: As a cryptocurrency, STAT is exposed to currency risks due to fluctuations in exchange rates, which can affect its value relative to other currencies.

  2. Event Risk: STAT is vulnerable to event risks such as cyber attacks, natural disasters, or other unforeseen events that can disrupt its operations and impact its value.

  3. Systemic Risk: STAT, as part of the broader cryptocurrency market, is also exposed to systemic risks that can affect the entire market, such as a global economic downturn or a loss of confidence in cryptocurrencies.

Understanding and managing these financial risks is crucial for investors and stakeholders involved with STAT to make informed decisions and mitigate potential losses.

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Did STAT raise funds?

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STAT's ecosystem

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STAT’s team

  • Team Members:
    • Micah Carnahan: Staff writer for Finder specializing in cryptocurrency, having written for various crypto news organizations.
    • Eberl: Allegedly involved in a scam using a near-duplicate website for FlexyStakes, with his photo used under the name "Noel Brennan".
    • Satoshi Nakamoto: The pseudonymous creator(s) of Bitcoin, whose real identity remains unknown.

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