Review of Stratis (STRAT)
The digital currency market is growing at an incredible rate, attracting more and more attention. Although Bitcoin is still the most popular cryptocurrency, there are many other interesting projects that are perfect for diversifying your investments.
In this review, we learn what the Stratis cryptocurrency is and what its prospects are.
Stratis cryptocurrency declares itself to be the Blockchain-as-a-Service (BaaS) platform, actively developing to compete with other crypto platforms that offer similar solutions, such as Ethereum.
This is a platform based on blockchain technology, which was created for the development of companies operating in various industries. The platform helps them use the blockchain to improve and optimize their activities.
The Stratis cryptocurrency simplifies the process of developing, testing and deploying decentralized applications (dApps) applications in C # on the .NET platform.
To raise funds, on July 20, 2016, the team conducted an ICO. Native STRAT cryptocurrency was put up for sale at a price of $ 0.007. Following the results of the ICO, the team managed to sell 84 million tokens and earn $ 610,908. This was one of the most successful ICOs of the year.
One of the main reasons Stratis cryptocurrency gained popularity during the ICO was its advanced technology and the solutions that it was trying to offer. Unlike Ethereum, which is written in the little-known Solidity language and offers similar solutions, the Stratis blockchain uses C # and .NET, so developing applications based on the project is quite simple and does not limit the ability of developers due to the lack of experience with Solidity. Using Stratis, a developer who already knows C # and .NET can get started in minutes.
From a technological point of view, the Stratis cryptocurrency is based on the Nbitcoin protocol, which essentially makes it a bitcoin clone, only written in C # instead of C ++. The project also abandoned Proof-of-Work (PoW) and uses the Proof-of-Stake (PoS) model to protect its blockchain.
For more information, visit the official Stratis website.
Behind the project is a strong team of developers, business managers, consultants and other specialists who are located in Asia, Europe and America.
Stratis is headquartered in the UK.
Stratis’ CEO is Chris True, who has over 10 years of experience in corporate IT. He is also a developer who encodes in C # and ASP.NET. Chris Trew is also the founder of the social project The Viral Exchange, which allows you to earn BTC for tweets, reposts and likes. The Fitalize platform is also its development. Users can earn Blitz while walking or jogging using fitness trackers.
In order to make your project as attractive as possible for different types of users, the Stratis cryptocurrency team creates non-standard offers and functions on its platform that distinguish the crypto project from its competitors.
Stratis smart contracts in C # are intended for companies and individuals interested in developing a secure, unchanging (legally binding) agreement, which is presented in the form of program code. This agreement may apply to STRAT payments as well as other assets.
The platform provides users with the ability to create their own smart contracts in C #. These are the first .NET-compatible smart contracts that can be encoded and compiled natively. Running on sidechains provides maximum scalability and security, preventing negative impacts on the main blockchain. All created contracts are thoroughly tested before being launched on the blockchain.
Each block in the Stratis network is a separate blockchain (side chain). Private sidechains can have their own unique cryptocurrency, block size, interval between creating blocks, etc. Developers can customize these and other key features at startup.
Thanks to the side chains, the site adapts to the needs of users, while maintaining a high degree of security and reliability of the main blockchain. Using sidechains significantly reduces the load on the network, ensures its smooth operation and expands the possibilities for future scaling.
Platform for ICO
The Stratis cryptocurrency team has developed fully integrated services and customizable layouts to launch its own ICO. The Stratis ICO platform offers various support packages for the ICO launch process, from the launch to the final count of funds raised.
For those who wish to fully launch their own ICOs, the team offers a free entry-level ICO package. If you need individual consultations and additional training, then paid service packages are also presented on the platform. There is a suitable offer for everyone.
Another area of Stratis team activity is consulting services. Internal consultants and blockchain developers help analyze the current performance of your company and provide a plan project to implement blockchain technology or optimize the operation of the current blockchain.
The Stratis team is focused on sharing knowledge about the blockchain and developing a global community of developers on C # and .Net. By providing free training materials, working examples, technical infrastructure and practical projects, Stratis aims to create a community with knowledge of the Stratis blockchain.
Stratis Academy aims to educate a new generation of blockchain developers around the world in order to prepare them for popular blockchain projects in various industries. Those wishing to study are provided with 7 capacious topics that describe in detail all the technical details of Stratis.
The Stratis cryptocurrency is based on the Proof of stake (PoS) algorithm, which involves the extraction of cryptocurrency by forging. Unlike traditional mining, forging involves the extraction of coins by storing them in a wallet, and not due to the computing power of special devices and equipment.
The more coins you have in your account, the greater the likelihood that the system will choose you for the generation of the next block. For the generation of each block, users have the opportunity to earn 1 Strat token. At the same time, in order to receive a reward, it is important that the wallet is online. The ability to generate new blocks on the Stratis network opens every 60 seconds.
The tangible effect of forging can be obtained only by having a significant amount of coins in the account. Therefore, users, in order to increase their profits, are combined in special pools for mining, in which the wallets of users with a positive balance play the role of asics and video cards. One example of such pools is the Mining Pool Stratis. Here, users store coins on a common account, and the profit received is distributed among depositors in proportion to their share in the total wallet.
Thus, when we talk about Stratis mining, we can immediately forget about buying expensive equipment, stunning electricity bills and hashrate jumps in the network. To make a profit, you just need to buy coins and keep them in your account for as long as possible.
During the existence of the project, the Stratis team made sure that their product was available for trading on most popular exchanges in the world. Currently, cryptocurrency is represented on 19 trading platforms, including world leaders such as the cryptocurrency exchange Binance, HitBTC, Bittrex, Poloniex, etc.
Most often, it is traded in pairs with BTC and ETC.
In addition, you can buy Stratis in regular exchangers. One of the striking examples is the Changelly service, which allows you to almost instantly and without problems purchase coins for dollars, euros, pounds or an alternative cryptocurrency.
How to store
The platform’s official website offers users to store coins in two wallets:
- Stratis Core – has a simple and intuitive interface, suitable for both transactions and mining of Stratis cryptocurrency. At the same time, a copy of the entire Stratis blockchain will be stored on your device, which on the one hand increases the safety and reliability of your work, and on the other hand, loads your device with unnecessary information. Wallet is supported by Windows, Mac, Linux.
- Breeze Wallet is a lite version of the wallet. Suitable for those who intend to use the wallet only for transactions. It supports operations with Strat and Bitcoin coins while maintaining free space on your device. The wallet is supported by Windows, Mac, Linux.
- Breeze Wallet with protocol confidentiality service – in addition to all the functions of the standard version, it has additional protection for incoming transactions through the use of TumbleBit technology. This unique technology encrypts the address of a coin while it is being transferred to another wallet address. This wallet is great for users for whom transaction privacy is very important.
In addition to official wallets, you can also use crypto-exchanges for storing coins, but this is considered the most unsafe way due to the high probability of hacking. Alternatively, you can use well-known hardware wallets that have a high level of protection and are less prone to hacking. But here it is important to note that if you want to not only make transactions, but also get Strat, you need to use the official version of Stratis Core.
Scope of Stratis Technologies
Stratis is a multifunctional blockchain system that can be integrated with almost any area of human activity. So far, active development has been taking place in four directions: medical research, the sphere of the Internet of Things, product quality control systems and financial technologies.
- Medical research. Scientists, healthcare providers and all interested parties get access to a decentralized database built on the Stratis blockchain. Due to such control, readers and all interested users can receive only objective information that cannot be faked by publishers, researchers or reviewers. That is, the influence of central moderators, who are able to enter the system individually and edit it at their discretion, is excluded. Using Stratis, you can exclude any edits or make them immediately fixed and you can easily calculate the subject who decided to correct the published material. For individual medical records, special restrictions may be established that will open access to information only to a fixed circle of users.
- Internet of Things. Since the Stratis platform supports Side Chain technology, developers will not face the problem of scalability. This means that on the Stratis blockchain, you can use any applications created for the Internet of things: from the arrangement of a smart home to the design of a smart city. Suppose representatives of a metropolis bought Tesla buses with autopilot function. If they turn to the developers of Stratis with a request to establish urban logistics, they will receive approximately the following
1) All buses can be transferred to autopilot and configured for round-the-clock operation. In addition, each bus will have its own route and schedule.
2) At any time, the compiled schedule can be canceled and adjusted. If you need to remove bus A from the route and put bus B in its place, then you enter data into the blockchain and immediately get the desired result.
3) In emergency situations, previously approved scenarios will be triggered. For example, in the event of an accident, the bus will perform the following actions:
- Stop in the nearest safe parking place;
- Call the dispatcher, a backup bus for passengers, an ambulance and throw them a video from the passenger compartment to visually assess the condition of the victims,
- Call the police and throw them a video of an accident,
- Will call other necessary services and in parallel will be able to perform other functions.
4) All information will fall into the blockchain, will be inaccessible for hacking and will be able to be updated online.
Using an example, we tried to explain that the Stratis platform is focused not only on affordable market products, but also on the technologies of the future, when automation and smart cities will become a universal phenomenon.
- Quality control systems. In many commercial areas, you can find unscrupulous manufacturers who create fakes or sell low-grade goods. Using the Stratis blockchain, this problem can be fixed. It works like this: for each production stage, special quality metrics are added that carry out the necessary calculations and upload information to the Stratis blockchain cloud. The received information is stored on secure decentralized servers, is available for viewing from any device and cannot be hacked by any unauthorized users. The manufacturer provided low-quality goods → you double-checked the information on the Stratis blockchain database → found a discrepancy → received evidence base for going to court and paying compensation.
- Financial technology. In this area, the Stratis platform can be used in the following areas:
- Increase the security of payments,
- Clearing Operations Management
- Protection of personal data and important information,
- Conducting trust transactions and working with identification databases.
In addition, any financial institution can contact Stratis representatives and transfer their unique service to the blockchain, which is not compatible with other platforms or could not be done by other developers. The Stratis platform offers many flexible solutions that adapt to virtually the entire modern business segment.
Advantages of the Stratis currency
- Revolutionary approach to technological solutions;
- Prospective investment, profitable investment;
- The work is aimed at creating anonymity and confidentiality (TumbleBit protocol);
- Excellent Stratis capitalization.
The only drawback is some limited elimination and application. But this disadvantage is more than compensated by the prospectivity and ease of exchange for other currencies, the simplicity and convenience of a Stratis wallet.
STRAT will be the first crypto unit to enter our daily lives tightly. All the tasks facing developers of cryptocurrencies are reduced to the already implemented Stratis: adaptation, simplification, synchronization with the “dinosaurs” of the cryptoworld and the possibility of actively using Blockchain technology for everyone.