Review of the STRAT cryptocurrency and its prospects for 2020

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.

Technical features of the Stratis platform

The platform was created as a more advanced analogue of Ethereum. The developers paid attention to security and ease of networking. Features of the site:

1. Stratis is a Blockchain-as-a-service (BaaS) platform. Its purpose is to create a variety of blockchain products for corporations.
2. Blockchain of new projects adapts to the goals of users. Thanks to this approach, development is simplified and the blockchain platform is accelerated.
3. Side chains are attached to the main one thanks to the Lite client and API.
4. You can combine functions.
5. Stratis was built in C# Stratis Bitcoin Full node.
6. Uses C# and .NET. Thanks to them, the platform is developed and maintained much easier than on C++ Bitcoin Core.
7. nStratis Development Framework. Significantly saves time on application implementation.
8. Stratis bitcoin full node

Stratis is mainly aimed at developing Microsoft related tools.

Difference between Stratis and Ethereum

Even at the beginning, Stratis developers indicated that this platform is an analogue of Ethereum. But at the same time, the projects have significant differences:

1. Different coding languages. Ethereum has the original Solidity language, while Stratis developers chose to use the well-known C# language. It is easier for programmers to develop solutions using Stratis, since they do not need to master new data.
2. Conclusion of contracts. On Stratis, side chains of the blockchain can be used for this purpose, while on Ethereum you only need to work with the main chain, which is why the network is often clogged.
3. Consensus mechanism. Stratis uses proof of stake and Ethereum uses proof of work, then switching to proof of share.

The Stratis cryptocurrency has every chance of becoming a leader in the industry in the future, surpassing Ethereum.

Cryptocurrency Strat

Trading with the Stratis digital token began on August 12, 2020. The cryptocurrency of the site is STRAT. Stratis works thanks to an evidence-based consensus mechanism. In other words, the user places a bet on tokens in order to receive them. This allows investors to earn money by storing coins by earning interest. This scheme works thanks to the PoS cryptocurrency mechanism.

The system distributed the coins in such a way that “whales” could not appear. The presence of “whales” is a big risk for cryptocurrency, so this approach to the distribution of coins plays to the benefit of the project.

There are no users on the network who collect the lion's share of tokens and manipulate the rate with their help.

Scope of application of the Stratis platform

The project can be used in various fields:

1. For medical research. The creators of the platform claim that thanks to the Stratis blockchain, healthcare workers and scientists will be able to publish their findings in a database that cannot be changed. As a result, plagiarism can be eliminated as a phenomenon, and reviewers and researchers will be able to use the work without the risk that the information presented will be incorrect after amendments are made.
2. For the Internet of Things. This section covers many industries at once. For example, thanks to the blockchain platform it will be possible to improve the industrial sector, simplify deliveries, etc. All information will be updated.
3. To identify the source and its identification. Thanks to blockchain, people will be able to quickly and accurately track a product, see its source and find out the entire path of movement, taking into account the slightest nuances. In this way, it is possible to exclude the possibility of counterfeits, or more precisely, to find out in advance that it is a counterfeit posing as an original.
4. For fintech tasks. In this context, the cryptosystem will help manage identification data in conducting trust transactions. Thanks to the implementation of Stratis, it will be possible to eliminate the theft of personal information and other information-related violations.

Moreover, many of the listed areas already have their own projects that are actively developing or are in the final stages of development.

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.

Cryptocurrency and Stratis wallets

The Stratis cryptocurrency is not positioned by the developers as user settlement money for the purchase of goods or services. If there is appropriate interest and relevance, such functionality can be implemented, but for now the development priority is focused on the platform.

The main purpose of the Stratis cryptocurrency is internal circulation and providing access to the project’s tools. It is also assumed that there will be network support in the form of mining based on the Proof of Stake protocol - proof of stake. The more coins you have in your account, the greater your chances of receiving a reward for forming a block.

A distinctive feature of the project is that there are several wallets that support this cryptocurrency:

• StratisX Wallet is the official heavy wallet from the developers, supports basic functions for working with assets;
• Electrum Wallet – lightweight storage with a simple and accessible interface;
• CoinVault is a multi-currency storage facility characterized by reliable protection;
• Ledger Nano S is a heavy wallet that also provides secure storage of savings;
• Breeze Wallet is a new official wallet under development; in addition to Stratis, it also supports Bitcoin, making quick conversion between two cryptocurrencies available.

Taking into account the PoS protocol, all stored coins are divided into mature and immature. The second includes recently accrued funds that do not take part in the proof of share calculation. Ripening time varies and can be from one hour or more.

When using wallets, please note that the PoS protocol is supported only by official vaults - StratisX Wallet and Breeze Wallet. In the rest, no reward is awarded for system support.

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.

A little history

The cryptocurrency coin STRAT was developed throughout 2020. With its appearance on the crypto market, the coin managed to attract the attention of investors, which helped it obtain the necessary financial resources to finance the development of the software component of the crypto platform, and also accelerated the implementation of new technological solutions. The idea behind this project is to create advanced decentralized applications based on blockchain technology. Despite the fact that this idea is not new, the authors of this project decided to approach solving such a problem from an unusual angle, which allowed them to occupy a niche in the crypto market.

STRATUSD chart courtesy of TradingView

The main priority for the creators of this crypto project was the creation of a special platform that would provide an easier process for creating decentralized software even for users with no programming experience. In this case, users can use one of three available programming languages: NET, C# and Javascript.

STRATUSD chart courtesy of TradingView

According to analysts, the listed languages ​​are somewhat outdated, but this is the whole essence of the crypto platform. This is due to the fact that the creators of the platform focus on developers who do not have the ability to translate software projects into other programming languages.

In this context, the Stratis crypto platform forms the basis for the subsequent successful transition of such companies to a digital basis. At the same time, the project eliminates the need to switch to new programs by using the capabilities of blockchain technology.

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Using the software tools of the Stratis crypto project will help you create advanced software even in the absence of programming knowledge. All this should ensure the popularity of this crypt among both legal entities and individuals interested in creating their own software tools. With the correct use of the functional levers of this platform, it will be possible to eliminate the most common errors that arise in the process of writing program code for software.

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.

Stratis project token - STRAT

STRAT is the native token (or cryptocurrency) of the Stratis platform.

An ICO was held in July 2020 to fund the development and marketing of the platform. In this ICO, the Stratis project was able to collect 915 bitcoins (which then equaled 675 thousand dollars).

STRAT rose from August 2020 ($0.023) to Summer 2017 (about $7.71), representing a gain of 49,000% in 10 months. It has become one of the few currencies that has been accepted and adopted very quickly thanks to numerous trusted cryptocurrency exchanges and wallets such as Poloniex, Jaxx and Ledger.

After the ICO, 98 million STRAT tokens were distributed, all tokens were issued immediately.

Here's what the latest distribution looks like:

All tokens are in circulation. In July, the price of each coin reached 10.5 US dollars. At the same time, it surpassed the market capitalization of $1 billion (but by the fall of 2020 it had dropped by half in terms of these indicators).

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.

Key feature of the Stratis project

This cryptocurrency is among the flexible blockchain platforms. It was created in order to develop their own blockchain projects on it, so other financial institutions are already using it today. Using this platform, you can create special applications for cryptocurrencies. Therefore, the potential of the Stratis cryptocurrency is very great. It is quite possible that after some time it will trade at the same level as Ethereum.

Key differences between Stratis and Ethereum

Another important conceptual feature of Stratis (STRAT) is that the platform itself does not use a traditional blockchain to operate. This decision was made due to the suspicion that all financial transactions in the blockchain structure are controlled by large organizations, and therefore their anonymity is violated. In its work, Stratis tries to create maximum transaction confidentiality.

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.

Overview of the Stratis blockchain project

Most blockchain projects are focused on making it easier for developers, companies and consumers to work with the technology. Stratis considers its task to make it easier for its users to understand the functioning of the blockchain. At the same time, a serious emphasis is placed on making life easier for developers who will create, test and implement applications. Based on this, the potential of this platform is quite large.

Creating blockchain-based applications is a rather complex and time-consuming task that requires serious skills from the developer. The Stratis team has worked to make the creation of enterprise applications much easier and faster.

.NET and C# technologies

What distinguishes Stratis from other blockchain platforms is its work based on .NET and C# technologies. The project team did not create a new programming language, but uses well-known ones, which makes it possible to make a smooth transition when creating software.

The platform offers blockchain based on closed code. It constantly updates its security and stability parameters. The Stratis platform collaborates with leaders in the field of blockchain technologies, including Changelly, MicrosoftAzur and Ledger.

Stratis Partners

Private chains

The Sokratis platform allows you to create private and public chains. Developers and users can quickly create custom chains based on their own blockchain. They can change their settings, due to which they can acquire the functions of other well-known blockchains, such as Ethereum and Lisk.

Private platform chains make it possible to configure different options based on needs. At the same time, the blockchain will guarantee a high level of security. When starting the platform, you can configure the following functions:

• creating large blocks for storing data on large volumes of financial transactions;
• control over financial transactions, which will allow only approved users to submit requests;
• operational work of the unit to organize the fastest possible bidding process;
• specific filling limit and so on.

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”.

Mining

You cannot mine coins in the traditional sense. The network supports PoS mining using the proof-of-stake protocol. The miner receives money not for mining, but for the fact that he has system coins in his wallet. This type of earnings on cryptocurrency is called forging. And to participate, users must register a wallet that will strengthen the network.

The coins are distributed relatively evenly, rather than being concentrated in the hands of the whales. This makes the division of profits more equitable. A person with a lot of coins in their account has a higher chance of making a profit from proof-of-stake mining.

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:

1. 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.
2. 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.
3. 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.
4. 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.

What is Stratis cryptocurrency?

This currency is included in the flexible blockchain platforms. It is specifically created as a basis for developing your own blockchain projects. It is for this reason that currency is already quite widely used by numerous modern financial structures.

Proper use of such a platform will allow you to create special applications for modern currencies. All this suggests that Stratis coins have quite a lot of potential. According to numerous professionals, the currency will very soon be traded on the modern financial market on the same level as Ethereum.

At the moment, the currency occupies one of the leading places, which allows us to regard it as a fairly attractive object for investment. Its cost is several hundred times higher than the original one, so users who paid attention to it and purchased it are already enjoying the profits. It should be noted that Stratis has quite attractive prospects. This is confirmed by the general interest in the currency and its technologies of such a well-known monster as Microsoft.

Who created and when

This new representative of the modern monetary digital world is a little over a year old from its creation. The coins were put into circulation in the summer of 2020. The currency began to show positive results associated with profit growth in early spring 2020. By the end of this time, the results were not only noticeable, but for many they were characterized as impressive. The growth trend continues to this day.

The growth and large amount of currency is largely based on the work of a real team of professionals. It consists of highly qualified consultants, managers, developers, as well as advertising and marketing specialists.

The founder and creator of the currency is Chris Trew, who has assumed the professional responsibilities of CEO. He is a professional who is also a consultant, technology specialist and architect with 10 years of experience.

Peculiarities

The main feature of the currency is the fact that this project should not be considered solely as another cryptocurrency unit. As noted a little above, this is a special platform for creating a wide variety of applications developed on the blockchain.

The team behind the Stratis currency devotes a lot of effort and resources to ensuring simplicity and clarity for the user in the process of creating a variety of applications. This makes application development, testing, and deployment increasingly accessible to multiple interested organizations. Very soon, the authors will present users with a package with a fairly wide selection of various tools working on the blockchain. Professional advice will also be provided.

The most noticeable distinguishing characteristic of this currency and its platform is the use of a large number of applications in .NET and C#. Thanks to this, the software is becoming increasingly understandable and accessible to a fairly wide range of users. Another feature is the fact that the blockchain of this crypt is able to provide a fairly high level of protection, as well as stability, since the entire system as a whole is constantly updated.

Advantages

Some similarity between the currency and Ethereum makes it possible to carry out various financial transactions of the old crypto world through a completely new instrument. In this case, the ether is overloaded and quite labor-intensive. As for Stratis, it is entering the modern market more and more rapidly and conquering it more and more confidently due to its accessibility and simplicity. Other equally important advantages of currency include:

• Providing a revolutionary approach to modern technological solutions;
• Optimal prospects for investing finances, that is, a fairly profitable investment;
• The system's operation is entirely aimed at ensuring a high level of anonymity and confidentiality;
• Ideal capitalization indicators for Stratis.

Thanks to these positive factors and advantages of the currency, many experts allow themselves to predict a fairly great future for this currency.

Flaws

There are practically no disadvantages to Stratis coins. The only thing you need to pay attention to is a certain limitation in the process of withdrawing and using coins. This disadvantage is quite easily and simply compensated by high indicators of prospects and ease of exchanging a monetary unit for other monetary units.

According to many professionals, STRAT will very soon become one of the first crypto-units, which will quite closely enter the life of a modern person. The main tasks facing modern currency developers boil down to eliminating the shortcomings to the maximum and increasing the positive factors of coins. The currency is becoming more adapted, simplified, and also synchronized with the old-timers of the modern crypto world.

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.

Where to buy and how to mine

Those wishing to succeed in Stratis mining will be disappointed. This cryptocurrency cannot be mined because the Proof-of-Stake algorithm is used. Thanks to this, you can earn coins not through powerful hardware, but by storing STRAT in your wallet. Therefore, in the case of Stratis, we need to talk not about mining, but about forging.

You can buy Stratis on one of the following cryptocurrency exchanges:

• Poloniex;
• Bittrex;
• Livecoin.

You can buy Stratis in pairs with USD, BTC and ETH.

Recommendations for buying cryptocurrency

In any case, to successfully invest money in cryptocurrency, you will have to independently analyze the market, as well as study the factors influencing its volatility. At the same time, there is no need to unambiguously believe the predictions from pseudo-experts, since due to the specifics of the crypt, no one has yet learned to give accurate forecasts for the short and medium term.

Over the course of a year and a half of the project’s operation, its creators managed to gain the trust of several crypto exchange platforms. thanks to this, this coin can be purchased on such crypto exchanges as: Binance, Bittrex, Yupibit, Poloniex and Livecoin.

At the same time, we should not forget that the possibility of direct conversion is not available for such young and not very popular assets. Therefore, to receive this crypt, you first need to buy Bitcoins through the exchange for fiat money and then exchange BTC coins for STRAT. You can store the received tokens on a Stratis crypto wallet or on a crypto exchange account, which guarantees the safety and security of your funds.

Also, a number of online exchangers provide the opportunity for crypto users to exchange Stratis for other crypto coins and fiat money. To obtain information about favorable rates at exchange offices, you should use the bestchange.ru web service.

How to mine Stratis?

As mentioned above, Stratis uses the Proof of Stake protection algorithm instead of the usual Proof of Work. Accordingly, cryptocurrency mining is carried out in a different way. There is no need to purchase expensive equipment for currency mining. The user just needs to purchase a certain amount of coins. After this, there is a chance that the reward for confirming a new block will belong to him. The chance of mining coins depends on how much Stratis cryptocurrency is in your wallet.