Stratis (STRAT): What is it?
STRAT (STRAT) is an open-source blockchain network providing easy access to blockchain-based systems and applications. As opposed to requiring developers to understand unfathomable blockchain languages – such as Ethereum’s Solidity — Stratis also provides ICO launch platforms that enable ICO’s to be launched in minutes using C#, the Microsoft .NET framework, and the Stratis API.
Decentralized applications (DApps) or blockchain networks are usually created by building an application from scratch, by creating a hard fork, or by hiring developers who can handle the work. Additionally, these three tasks are both time- and money-consuming, as well as data-intensive, and they require lots of storage space to complete.
This problem is solved by Stratis. Blockchain-as-a-Service (Baas) is a notion similar to cloud computing where developers can host and deploy their decentralized applications and sidechains without consuming their own computer’s resources.
The Founders:
The company formed in 2016 by Chris Trew behind Stratis is Stratis group ltd. At the time, he believed the blockchain industry lacked an enterprise-focused blockchain platform. As a result, he decided on the Bitcoin (BTC) protocol, with the understanding that Bitcoin would eventually dominate the crypto industry, with its codebase constantly improving over time.
Trew’s experience in enterprise technology preceded his start at Stratis. The programmers at Barclays have spent the last ten years serving in various C# roles with companies including the legal, aviation, and government sectors. His additional skills included Internet marketing and SEO.
Previously, Trew was a developer for Blitz Cryptocurrency as well as The Viral Exchange, a social media platform for the crypto and blockchain space.
Proof of Stake (PoS) Consensus Algorithm and Stratis Currency
STRAT was originally introduced as a proof of work (PoW) cryptocurrency but was later shifted to a consensus-based on proof of stake (PoS). Proof-of-work consensus protocols are less effective because they require a lot of energy and raise the possibility of centralized mining. Proof of stake has also been expressed by Ethereum, the second most valuable cryptocurrency network.
Because it requires owners to own some stake in the network, PoS is considered a good option. Because their stake is also at risk, conspiring against the network is difficult for them.
In the opinion of users, proof of stake (PoS) protocols are the ultimate thing since they do not have to stake anything other than STRAT tokens to mine the network. Even if you have a standard CPU and GPU, it will be simple and easy to use.
Its Uniqueness:
Its whitepaper describes how Stratis’ BaaS platform is aimed at financial service providers and enterprises who want to test, develop and deploy applications on blockchains without the overhead or security concerns associated with operating their networks. To do so, it offers businesses the opportunity to run their own permissioned, private side chains that interoperate with its main chain. The company also offers various privacy and identity verification tools and hosts decentralized applications. With this approach, according to its whitepaper, corporations have the freedom to completely customize their platforms without being bound by one of the major blockchains, such as Bitcoin or Ethereum (ETH).
International Data Corporation, the world’s leading firm in technology market intelligence, and pharmaceutical blockchain firm MediConnect have partnered with Stratis in recent years. A professional athlete has also been sponsored by the platform to raise awareness.
Stratis has announced its latest roadmap for its new STRAX-based blockchain, which is scheduled for launch in November 2020. This includes integrating Ethereum with a software development kit for Internet of Things-based development, establishing a decentralized finance library, and launching a decentralized autonomous organization.
Frameworks and APIs
You may have difficulty finding the right developer to build your blockchain application or blockchain network, and you may not have the necessary space on your computer to store your blockchain ledger and host/deploy your DApp.
Stratis makes this possible. So that Stratis’ APIs and frameworks can be used, your APIs and frameworks have to be easy to use. Nbitcoin Framework is Stratis Framework’s core component, and it currently boasts the most complete library for C#/NET development in the industry.
It allows more individuals to enter the blockchain and cryptocurrency fields, as opposed to developers learning unfamiliar languages before entering the field.
The blockchain as a service
Furthermore, Stratis offers developers blockchain-as-a-service. Because Stratis is a platform as a service, developers do not have to worry about storing and running their DApps and private chains on their computers since it provides them with enough space in the cloud. Stratis’ blockchain-as-a-service provides developers with a low-cost way to run and store their apps, as well as temporary scalability.
Platform to launch ICOs
The Stratis ICO platform enables companies and individuals alike to launch ICOs within minutes and customize their blockchain to reflect their brand. Users can buy tokens on the ICO launch platform for dollars, bitcoins, STRATs, as well as 50 other cryptocurrencies. In contrast to most other ICO launch platforms, Stratis gives away its platform for free, taking a percent of the funds raised by your company. In the Azure Marketplace, you can access Stratis’ ICO launch platform.
