Stratis is an enterprise-grade decentralized platform. The goal of the project is to provide convenient solutions for large financial companies that are ready to take advantage of the benefits of blockchain technology. Stratis allows such companies to develop their own applications, providing them with the necessary functionality. The advantage is that thanks to the Stratis platform, the process of creating such applications becomes much simpler and more accessible.
What is Stratis
Electronic money is attracting more and more attention. And while Ethereum has the most opportunity and long-term potential among altcoins, there are many other interesting cryptocurrencies that can be used to diversify investments.
The description of Stratis should begin with the fact that this project is a Blockchain-as-a-service (BaaS) platform whose goal is to create products in the financial sector for corporations that want to take advantage of the benefits of blockchain technology. Stratis allows you to create custom blockchain-based applications with functions customized for specific purposes. This simplifies the development process and speeds up the life cycle of projects based on blockchain technology.
The capabilities of the system include the creation of independent blockchains by any organization to realize their goals and meet personal needs. All of them are attached to the main Stratis blockchain. Communication with them is supported through the Lite client and API.
Companies are able to take advantage of the system's connections for their own applications. And their connection to the main chain does not require any financial costs and eliminates any difficulties in creating and maintaining their blockchain infrastructure. In addition, they have the opportunity to combine new functions with previously existing ones, for example, in the Ethereum or Waves blockchains.
Conclusion
The Stratis project has the right technology requirements and blockchain related improvements that it needs to establish as a business blockchain. However, the Stratis team will attract a significant number of financial institutions and corporations to its platform in order for Stratis to develop into a leading blockchain platform that can launch similar projects in this space. If Stratis manages to establish himself in this way, then there is significant potential for his digital token.
Platform C# Stratis Bitcoin Full node
The Stratis platform is built on the C# Stratis Bitcoin Full node, developed on top of the NBitcoin library, an almost complete port of Bitcoin Core, written in C# and .NET by blockchain developer Nicolas Dorier. Given that NBitcoin is based on pure C# code and the .NET platform, development and maintenance of the system is easier compared to the traditional C++ Bitcoin Core source code.
The Stratis development team also provides consulting services, talking about the functions and capabilities of their project. They started their consulting activities in London and intend to expand internationally if there is demand.
History of creation
The digital currency appeared in mid-2016. At the same time, a powerful breakthrough occurred almost a year later - in the spring of 2022, when the rate began to rise. The growth did not go unnoticed among market experts.
Quite often, analysts compared Stratis with Ethereum, at its initial stage of development.
Many call Stratis one of the most profitable projects for investment that exist today.
From its inception to the present day, the value of STRAT cryptocoins has increased hundreds of times, which has made it possible to seriously increase the capital of those who bought tokens immediately after their release. Let us note that a company such as Microsoft is also showing serious interest in this technology.
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nStratis Development Framework
The launch of the nStratis Development Framework (SDF) has opened up the possibility of creating blockchain using C# and .NET. This move will reduce the time spent building open source applications and cross-platform blockchains within Microsoft .NET.
Today in the world there is a wide range of programmers who actively work in C# .NET - the dominant languages in the field of business application development.
Staking wallet
To download the wallet, click the “Get it here” button in the “Staking wallet” block.
A page will open on the Github website, at the bottom of which there is a “Downloads” section. The Windows wallet is labeled "win". You need to download the archive, unpack it to any convenient folder and run the stratis-qt.exe file.
The wallet does not require installation, so immediately after launching the file, the blockchain will begin downloading. Typically this process takes no more than 2 hours.
When the loading bar at the bottom of the program window disappears, the wallet is ready to use. The first thing you need to do is back up your wallet using the File menu. Keep a copy in a safe place: without it, you will not be able to restore access to your wallet.
In addition, it is recommended to set a password for transactions. To do this, select “Encrypt wallet” in the “Settings” menu.
The wallet is ready for use. You can transfer and receive funds using the appropriate items in the left column.
How it works using the example of a private blockchain network
In the Stratis Whitepaper, in the “Use Examples” section, the developers talk about creating a private blockchain using the example of the TradeCorp company. TradeCorp is a financial services company that intends to implement a trading platform using blockchain technology. As part of their initiative, the developers intend to create a Proof of Concept (PoC) platform to explore the challenges they will face when their idea hits the market.
Due to the expected volume and speed of transactions, they require a blockchain with a block size of 10 MB and a processing speed of no more than 30 seconds. Therefore, Bitcoin is not suitable for these purposes. Instead, they intend to use Stratis to deploy and host a private network. This is possible if you take the following steps:
- create an account on the Stratis cloud portal;
- purchase STRAT to power your private network (various payment options available);
- Go to the Provisioning tab in the Cloud Management Portal and select Deploy Private Blockchain.
Now you will need to specify the necessary characteristics of the blockchain, listed below:
- blockchain name identifier;
- target block creation time (for example, 30 seconds);
- level of confidentiality (makes the network private or public);
- mining rewards (private chain only; e.g. 100 units of local currency per block, halving the reward every 100,000 blocks);
- ports for connecting P2P and JSON-RPC API (for example, 6060, 5721);
- allowed transaction types (for example, paytoaddress, paytomultisig, paytoscripthash);
- maximum block size (for example, 5 MB);
- maximum metadata for each OP_RETURN transaction (eg 4096 bytes).
Next, click “Confirm / create a new blockchain.” TradeCorp's private network is currently running and their primary node can be found via SSH by the IP port displayed in the Stratis management settings section.
TradeCorp now has their private blockchain network secured by the parent Stratis blockchain, which also meets their exact requirements. They also have access to all technologies within Stratis projects that can be used on their network at minimal cost. The entire process of launching a private blockchain only takes about 10 minutes.
Stratis is designed to provide the easiest and most convenient way to customize custom chains to meet the needs of the financial services industry. These allow you to get a universal solution for most enterprises, from small and medium-sized to large financial organizations.
Crypto coin capitalization, cost and relevance
Interest in the asset comes from major market players. Many corporations operating in the IT and financial sectors speak positively about the currency and the platform on which it is implemented.
The support of the crypto fund on the world's leading exchanges once again confirms this.
That is why, when speaking about Stratis cryptocurrency forecast for 2018 , experts in most cases agree on a common opinion - an increase in the rate.
For this reason, the value of the token is rising. At the time of writing, the price was $12.81. The capitalization of Strat is more than $12.6 billion.
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How is Stratis different from Ethereum?
Although these two projects are similar in concept, they are actually completely different. Stratis operates on the Bitcoin blockchain. But its real uniqueness is that it offers developers C# programming capabilities. This, in turn, opens up a lot of possibilities for developing many different types of applications in many areas.
However, Stratis is still similar to Ethereum in that both of these cryptocurrencies are platforms for developing applications based on block technology and smart contracts. The most significant difference between Stratis and Ether is that its native language is C#. This eliminates the need for application and smart contract developers to learn new programming languages.
Stratis makes it easy to create smart contracts. If you carefully study Ethereum smart contracts, you will notice that all data moves along the main backbone of the network and can cause it to become overloaded if there is a large flow. Stratis reduces the load by using side chains to relieve the main network of excessive information flow.
Road map
- The Stratis Academy program, expected to open in the second quarter of 2022, is an IP technology and education program helping developers around the world prepare for high-demand blockchain projects across a variety of industries. By providing training materials, mentoring and infrastructure testing
- The Stratis ICO Platform is a secure, customizable platform for hosting your own ICOs on the Stratis Blockchain network. It was developed from the ground up in C# and the .NET Framework and is easily deployed to Azure. Safety is of utmost importance; therefore, the platform does not store any coins or private keys in the hosting infrastructure. The ICO Stratis Test is a showcase of the Stratis ICO platform to demonstrate the technologies and products that we plan to release to the market in the near future.
Stratis project team
Behind the implementation of Stratis is an international team that includes business managers, developers, consultants, marketing and sales specialists. Their work is coordinated by a strong team of blockchain experts, which combines best business practices with agility, accelerating prototyping and launch of developments. The company's headquarters is located in the USA, where it is registered under the name Stratis Group Ltd.
The team includes, among others:
- Stratis CEO and founder Chris Trew. He is a consultant, architect and technologist with over a decade of experience in enterprise IT technology.
- Leading blockchain developer Nicolas Dorier (Microsoft certified trainer, teacher in the field of .NET technologies).
- Blockchain developer Dan Gershoni. Has more than ten years of development experience in the MS stack, mainly in C# .NET with Microsoft WCF, Winforms and BizTalk certificates. Previously worked as a developer at Microsoft, Fujitsu, SolidSoft and Blinkbox.
- Blockchain technology developer Stratis Pieterjan Vanhoof. He has extensive experience in Full Stack .NET.
- Blockchain developer Jeremy Bokobza. Specializes in creating top-level software, has deep and extensive knowledge of .NET and C# technologies and architecture. For more than 10 years he has been participating in EAI (Enterprise Application Integration) with Microsoft BizTalk Server, collaborating with Microsoft Consulting Services in the Czech Republic and the USA.
Breez wallet
One of the most impressive and game-changing items from Stratis is the Breez wallet. This is a Bitcoin wallet that will include Tumblebit for the first time. Such an incredible deal will increase Stratis's awareness tenfold.
With the impending release of the Breez wallet, there is now an incredibly large incentive to launch a Stratis masternode. It will be incredibly lucrative to operate as it is the main core of Tumblebit's functionality in the upcoming Breez wallet.
Why is this so important? Because it requires 250,000 Stratis coins to operate. This means that a large Stratis holder is the main incentive to hold their coins, which reduces the availability of supply.
PoS mining Stratis
Users often have questions about how to mine stratis. STRAT is emitted at a rate of 1 token per block every 60 seconds. This provides an incentive for users to support the network based on the Proof of Stake (PoS) protocol. This process is a kind of analogue of mining, but in order to make a profit, the coins must be in the wallet.
It is worth noting that compared to many leading cryptocurrencies, Stratis coins are more distributed and are not concentrated mostly in the hands of a small group of financial “whales”.
Blockchain STRAT, speed and cost of transactions
By 2022, the reality has become such that not everyone can agree with the very low speed of transactions.
Most likely, this was one of the reasons for the decline in the effectiveness of the previously very popular Bitcoin.
Corporate clients do not have the ability to control network updates, block throughput, and the time required to process transactions. Commission – 1 STRAT.
But in the case of Stratis, all this works in a slightly different way.
The company has the opportunity to set a large block size in order to be able to carry out many operations.
You can also configure the minimum block time required to conduct transactions with a minimum level of delays.
If you need to control operations, then it is possible to allow requests to be sent to users who are approved.
The Stratis blockchain, where you can verify cryptocurrency transactions, is located at - https://chainz.cryptoid.info/strat/
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Where can Stratis be used?
Some of the benefits of Stratis block technology that could potentially have a real-world impact cover a few key areas:
- Medical research. Blockchain Stratis will allow medical professionals and scientists to place their publications and research in an immutable database. In this case, reviewers, researchers and publishers will be able to work without the risk of plagiarism and changes to records by third parties.
- Internet of things. The industrial sector, including the supply chain and logistics, can work using the stratis system. This will allow all information to be updated according to consensus in real time. For example, the blockchain network supported by the Stratis platform will provide access to a fully automated AirBnB system without the need for human interaction.
- Origin. The ability to verify the quality and source of the product, as well as track its movement. As production developed, the process of counterfeiting original products also expanded. Stratis block designs configured for product tracking and identification can solve this problem.
- Fintech. In this area, Stratis is aimed at identity management, trust transactions, combating the theft of personal information, clearing and settlement management.
Some of these exciting technologies are already in pilot projects, while others are still being developed.
Creating a crypto wallet and storing funds
Strat is a relatively new currency that not everyone knows about.
It is for this reason that it does not boast a large number of available wallets, like other digital assets.
At the same time, among the best options for storing assets are the following Stratis wallets :
- Ledger Nano S.
- Electrum Wallet.
- Breeze Wallet.
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Where and how to buy Stratis cryptocurrency
Buying Stratis coins with fiat money, such as rubles, can be a challenge, especially for a beginner. The most convenient way is to exchange them for other digital tokens such as ETH, LTC or BTC at an exchanger or exchange.
The most profitable and current rate can be found on exchanges, including:
- Binance;
- Cryptopia;
- Bittrex;
- Poloniex;
- Shapeshift.
Electrum
The Electrum download process is similar to Staking wallet: you need to click the “Get it here” button in the corresponding column and select the version for a specific operating system on the page that opens. The screenshot shows an example download for Windows.
Unzip the archive and run the Electrum installer. To create a new wallet, simply leave the default settings and click “Next”. At some point, Electrum will generate a Seed (secret phrase), which must be saved in a safe place or written down on paper. The phrase serves as an analogue of a backup copy; without it, it is impossible to restore access to the wallet. Do not share your Seed with anyone.
In the next step, Electrum will ask you to enter a secret phrase to confirm the creation of the wallet. Next, you need to set a password to perform transactions.
Once the setup is complete, the main Electrum window will open. You can send or receive a transfer in the “Send” and “Receive” tabs.
