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Stratis (STRAT) is a Blockchain service platform with a related Proof of Stake cryptocurrency. This ‘Blockchain-as-a-service’ functions as a solution for a company to use closed and public blockchains. By offering the ability to create sidechains, companies benefit from ongoing enhancements to the Stratisblockchain while maintaining their customized blockchain. Stratis aims to help establish blockchain with the least amount of hassle.
Stratis is a cryptocurrency and an open-source system specialized in offering the necessary tools to those companies that want to use Blockchain technology. It runs on its blockchains, offering the possibility of using and saving other private blockchains on its own (called Sidechains) and storing data in its cloud (Cloud-Hosting technology).
The Vision of Stratis
Stratis’s vision is to create a network that closes the blockchain and corporate world gap. Stratis is a complete rewrite of the bitcoin source code in C# and. NET. It simplifies developing, testing, and deploying C# applications on top of a .NET framework on the Stratis blockchain. The platform is also on the Microsoft Azure BaaS program, in which Stratis has integrated Azure into its platform. Azure is Microsoft’s cloud computing platform for testing and developing apps and services. Stratis is not a coin, but the platform itself and its token are called STRAT.
Unique Aspects of Stratis
The philosophy behind Stratis is focussing on how blockchains streamline business processes. In addition, the founder of Stratis, Chris Trew, realize the importance of reducing the difficulty of blockchain adoption and implementation. In short, his vision makes blockchain simple and offers it to businesses who are not familiar with the technology.
Stratis, designed with simplicity in mind, offers a simple and affordable end-to-end solution for developing, testing, and deploying C# blockchain applications through the NET framework.
Platform’s key features are the capacity for companies to create private side chains that take the best features of the central chain while still designing their chain. Each chain is built off the major Stratis chain but keeps complete independence and will not interfere with the main chain.
The Stratis Smart Contracts
Another essential part of it is smart contracts. Smart contracts help trade money, property, shares, or anything of value transparent, conflict-free way. The great thing about smart contracts is to achieve all of this while still avoiding the services of a third party and thus reducing costs.
It combines various technological forces from different cryptocurrencies on its platform. It has its blockchain, but at the same time using the Bitcoin nodes.
The cryptocurrency has APIs (application program interfaces) that access external databases, hard drives, graphics processors, hardware, and other blockchains. In this way, Stratis offers the necessary functionalities to program its blockchains based on this structure.
Where to Pay with Stratis?
Unlike Bitcoin or other cryptocurrencies, STRATs tokens to use within the ecosystem. The cryptocurrency does not yet operate as a payment method, and banks or web portals do not accept it. However, since its platform embeds in some Microsoft programs, it is expected that we will find Stratis installed on other companies’ systems shortly.
The markets have generally accepted Stratiscoin (perhaps partly due to Microsoft’s support) and purchased it in several exchange houses. Binance, Poloniex, Bittrex, and Upbit stand out; the most common pairs being BTC and ETH, EUR and USD to a lesser extent.
The development team is solid and has good programmers, so a progression of this cryptocurrency is expected in the short term.
Recently, Stratis successfully implemented Masternodes, which can be run with Microsoft Azure in real-time to improve the stability and connection of applications. On the other hand, we plan to introduce the privacy protocol called “Breeze” in the Breeze-TumbleBit wallet, exchange cryptocurrencies within the application, and transfer them to other wallets.
It is effortless to configure since they adapt to C # and. NET. They allow the immutable and secure development of algorithms for different applications.
These are additional blockchains that developers create. Although these sidechains will be customized and may have unique characteristics, they can all connect and talk to each other. One of the resources for this is the STRAT cryptocurrency.
Ethereum, the Stratis ecosystem allows you to easily organize ICOs, including customizable layouts that manage the operation of the network and the distribution, issuance, and logic of the tokens.
The blockchain uses a proof of stake (PoS) mechanism for transaction validation and allows participants to stake and taking STRATs as an investment method that generates residual income.
The platform has multiple native wallets capable of interacting with Strat and Bitcoin.
As Stratis becomes more and more comprehensive, companies will launch their blockchain with the push of a button, assisted with their custom development.
It is a great idea, but the pizza chain has no experience in blockchain development. They are not a technology company. So, they don’t even know how to hire people for the job. It is where Stratis steps in, helping companies integrate blockchain by simple means.