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Stratis (STRAT)

Dec 26, 2017 Admin Currencies
Name
Stratis
Stratis (STRAT) image

Overview:

Stratis is a Blockchain Development Platform that has flexibility and strength purposed to address the needs of real-world financial services, businesses, and other organizations that desires to access the benefits of Blockchain technologies. Stratis is a Blockchain-as-a-service (BaaS) Platform, created to provide solutions for corporations in the financial sector that want to enjoy the benefits of Blockchain technology, which could be used as a turnkey solution that would enable developers and businesses to develop, test and deploy blockchain-based applications with speed and ease, without the costs and security concerns that would otherwise arise from an in-house implementation.

Stratis allows the creation of distinct, private blockchains, which can be launched by third party organizations which can customize them to their needs. These blockchains (sidechains) are secured on the main Stratis blockchain. They can be accessed via lite clients and APIs.

 

Stratis, the native currency within the Stratum Platform, is required in order to create and fuel these blockchains. These private chains are based upon the code of the main Stratis chain and side chains. It combines the proven security consensus of Bitcoin, bringing with it the latest advancements in blockchain technology. It is a Proof-of-Stake (POS) cryptocurrency with limited emission and low inflation. After the ICO (Initial Coin Offering), 98 million STRAT tokens were distributed. This is the fixed supply that will ever be available.

The platform runs on C# Stratis Bitcoin Full-Node Platform and Framework, developed on top of the NBitcoin library, a near-complete port of Bitcoin Core written in C# and .NET by blockchain developer Nicolas Dorier. Because of it being developed in C# and utilizes .NET framework, it is easier to maintain and develop when compared to the traditional C++ Bitcoin Core source code. The platform has been designed to serve enterprises and organizations, fitted for those that run their services on Windows/Microsoft environment.

Recently, an update to the Stratus protocol, Project Breeze, was announced. It implements TumbleBit which makes transactions completely private and unlinkable. This is a good point for businesses who wants to engage in secured private transactions. This also makes the protocol compatible with Bitcoin Protocol and can build upon Bitcoin's already established infrastructure.

The Stratis team will also provide consultancy services, advising companies on which features to use and how to implement them.

Advantages:

  1. STRAT is cheaper than BTC or ETH
  2. Provides a full tool kit for blockchain provisioning from start to finish
  3. Big savings for businesses - able to work in-house to deploy blockchain apps
  4. Businesses can issue their own tokens and assets classes secured by robust technology
  5. Enables existing developers to leverage their current C# and .Net knowledge - essentially lowers the barrier to entry for developers and businesses to get started developing blockchain based apps
  6. Master nodes provide extra services like making the network transactions more private, enabling instant transactions, etc.
  7. Segwit-ready - process by which the block size limit on a blockchain is increased by removing signature data from Bitcoin transactions

Disadvantages:

  1. Not a platform for the masses - slower adoption
  2. Smart contracts available only on sidechains

How to Buy:

The best way to buy Stratis is by using an exchange and buy Bitcoin. Some exchange will allow you to buy directly with your cash maybe via credit card or via a Mastercard. Some can also allow you to do a direct wire transfer to them.

Coinbase is the best recommended to new investors as one of the easiest ways to acquire their first bitcoins. After verifying your account, you can add a number of payment methods including credit or debit cards, U.S. bank accounts, EFT payment, or even ACH / SWIFT / SEPA transfer of funds.

Trade:

As true with some other cryptocurrencies, it is not readily accepted by merchants globally. The best platform for trading will be with some trading exchange online. The following are some exchange that could help with trading STRAT, as well as some cryptocurrencies:

  • Bitrex
  • Poloniex
  • Binance
  • Hitbtc
  • Cryptopia

Storage:

Because Stratis is a relatively new cryptocurrency, it doesn’t have many wallet options available. There are a few good options out there though for storing it.

Best Wallets:

  • StratisX Wallet: This is the official desktop wallet by the Stratis development team. It has all the features to use Stratis safely, and also allows for the staking of Stratis tokens. This is a lightweight wallet which doesn’t download a full blockchain.
  • Stratis Electrum Wallet: This is an official copy of the Bitcoin Electrum wallet by the Stratis team. Similar with StratisX Wallet, it is a lightweight desktop wallet which doesn’t download the blockchain. It is easy to set up and use in everyday transactions. But it doesn’t support staking of Stratis tokens. It is available on Linux, Windows, and Mac operating systems.
  • Ledger Nano S: Currently, only the Ledger Nano S hardware wallet supports Stratis storage. The Nano S is simple to use. It can’t be used for staking Stratis, but it will keep your tokens safe. Stratis bought anywhere can be transferred in the Ledger address. This is the safest way to keep the Stratis tokens secure.

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