Stratis (STRAT) Review – Crypto Coin Judge
What is Stratis?
Stratis provides a powerful and flexible blockchain development platform that is specifically designed to meet the needs of financial, and other, organizations looking to test and deploy applications on the blockchain. Its blockchain app is developed in pure C#, leveraging the platform’s powerful APIs and frameworks. It simplifies the blockchain development process and allows businesses to develop and deploy their customized blockchain without the overheads that are often characterized with a blockchain network infrastructure. This turnkey solution allows the businesses to create, test, and deploy the blockchain applications with ease, all without the costs and security concerns of an in-house implementation. It’s a Blockchain as a Service (Baas) platform which is specially created for financial corporations who want to leverage advancements in blockchain technology.
The Stratis Token is a Proof of Stake (POS) cryptocurrency with limited emission and low inflation. It is trading on leading cyrptocurrency exchanges such as Poloniex, Bittrex and Bittylicious. The Stratis Cryptogrphic token (STRAT) blends the proven security consensus of Bitcoin with the latest developments in blockchain technology.
Stratis Brief history
Stratis was created in 2016 by Chirs Trew. It soon rose to a market cap of $1 billion by the start of June 2017. Its price appreciated to $7.71 in June 2017, which was a 49,000% rise from its price ten months earlier, of $0.023, in August 2016. It is one of the few currencies that has been adopted and implemented by a variety of exchanges and wallets, like Jaxx, Poloniex, and Ledger hardware wallets.
Stratis has technical value. By developing the platform on .Net and C#, they have opened the doors for business line apps. It has brought the development of blockchain to the wider developer community. An expertise in making blockchains is not essential. Stratis is built upon the Nbitcoin protocol that replicates the consensus model of Bitcoin, thus providing it with value above and beyond the other blockchain development platforms. Stratis provides capability to businesses in customizing a blockchain according to their needs, and issuing their own tokens and asset classes. The platform helps in the development of a decentralized economy, by enabling more people to use the blockchain to solve their specific problems.
Key features of Stratis
1 – Allows for the creation of distinct and private blockchains.
2 – Provides the developers with complete freedom to customize their implementation for specific needs.
3 – It can be used as a Blockchain as a Service (BaaS) with an off-the-peg approach to blockchain use.
4 – Developers can test and deploy their blockchain-based applications in the cloud, without having to maintain the network themselves.
5 – Allows for hosting and consultancy for decentralized applications on the Ethereum blockchain with an off-the-peg approach to smart contracts.
7 – Offers a one-click process for the easier deployment of private chains with unprecedented speed.
8 – Integration of fiat gateways for the transfer of existing currencies that are not subject to damaging volatility.
9 – Three-tier architecture structure similar to Microsoft ASP .Net.
10 – It allows for easy integration of the business processes with Microsoft’s .Net platform and C#.
The key issue solved by Stratis
Stratis makes it easier for blockchain developers to rapidly develop the applications, while eliminating the need to create an entire private blockchain from scratch, thus saving on effort and cost for them. It brings blockchain development within the reach of literally every developer.
How to mine Stratis
1 – To mine Stratis, you need to have equipment with a speed of 0.1 kH/s and the mining difficulty of 0.1.
2 – As a reward for the found block of 0.1 coins, you get 0.1 coins.
3 – To get more profit by selling 0.1 coins, you need to exchange 0.1 coins received at the exchange rate of 0.1 for one 0.1 on 0.1.
4 – You can deposit the coin at BTC-e, and exchange to USD at the exchange rate of 0.1.
5 – After exchanging and receiving USD, you can withdraw it in fiat currencies and get 0.1 Dollar or 0.1 Ruble as cash.
6 – Thus, if you do not consider electricity costs, you can get 0.1 Dollar or 0.1 Ruble with well-defined data in the calculator.
Stratis offers two types of wallets to investors:
Staking Wallet: You can download the latest Staking Wallet from a trusted source like GitHub to send, receive, and stake your crypto coin.
Stratis Electrum: The wallet lets you send and receive coins with blazing fast speed. You don’t need to be concerned about syncing your blockchain with internet connection to achieve this.
The wallets can be downloaded from the below sources:
Follow the below steps to install the wallet:
- Open the downloaded zip file.
- Then hit the Allow Access button.
- The wallet will begin synchronizing with the network.
- After the completion of synchronization, go to Settings.
- Click Encrypt Wallet and enter a strong Passphrase that you can remember.
To make a backup of the wallet:
Go to File, Click on Backup Wallet and save the file.
Steps to follow for staking;
- Open the wallet, go to Settings and click on Unlock.
- Thereafter, enter the Passphrase, click on For Staking Only and press OK.
- You can add more connections if you are active on the Stratis network.
Keeping the wallet safe
- Keep the tokens in the Stratis wallet or offline (cold storage) on your computer’s hard drive or external hard drive.
- Keep a backup of the wallet. Go to File > Backup Wallet.
- Lockdown the password.
- Encrypt the wallet. Go to Settings > Encrypt wallet.
1 – Click on the Get it here button under the Staking Wallet tab on the company’s official website.
2 – Download a file compatible with your computer system, decompress it, and install the Stratis wallet program.
3 – Allow access when prompted by the computer to sync the wallet with Stratis blockchain.
4 – Press Receive. You will be provided an Address with a long string of alphanumeric characters. The coins will be sent to this address only.
5 – Click Settings, and then Encrypt Wallet. Enter a Password that’s hard to guess for others but you won’t ever forget.
6 – Click OK on the warning message about encryption and then open the wallet program again.
7 – Click File > Backup wallet. Save the file on the external drive. If something happens to your computer, you can use this file to get your wallet and coins back.
9 – Use an app, like Authy App that provides an added layer of security in case a hacker manages to gain access to your password.
Stratis vs. Bitcoin
1 – As the private chains of Stratis are based on the same code as the main blockchain, the interface is fully compatible with the main chain.
2 – It provides the same RPC API as Bitcoin Core, so the applications that use Bitcoin’s RPC or command line can be easily ported to Stratis.
3 – This compatibility means it is easy to incorporate new features into a private chain, and potentially vice-versa.
4 – However, the business’s consent would be needed for this, and there is no onus on them to make their privately-developed features available to others.
1 – Stratis Academy is a library source for developers which is a community of developers where one can find articles on relevant subjects, attend webinars and slack meet-ups.
2 – Stratis has partnered with Earth Twine, a renowned name in the international seafood industry to develop an innovative approach to trading and compliance, leveraging their expertise, and exceptional market reach.
3 – Earth Twine has created innovative solutions for the seafood industry and established a way to represent all sectors of seafood professionals.
4 – It combines collaborative technologies like SPARKL for tracking the mandatory data for IUU compliance and enabling multiple tracking applications to work collaboratively within the legacy environment.
5 – Stratis will establish dedicated blockchains, applications, and tokens for the integration of Earth Twine’s global seafood tracking solutions onto the blockchain.
6 – Earth Twine will also benefit from industry specific knowledge, international presence, and the knowledge of blockchain innovations of Greenberg Traurig Law, the largest law firm in the USA, in order to help steer the international transactions involving digital currencies and the future crowdsourcing efforts.
Stratis (STRAT) is trading for USD21.37 or 0.00139822 BTC. at the time of writing this.
The coin’s price is likely to appreciate due to the integration of Tumblebit in the Breeze wallet. The company has partnered with Microsoft and Earth Twine to create the first seafood chain. Seafood apparently being the largest traded commodity after oil, the prospects for the growth of Stratis are bright. The coin already reached $25 last year. It is likely to reach up to $45 in January 2018, and it might reach up to $100 by the end of the year.
Real-word use of Stratis
Fintech: The coin intends to solve issues such as Identity Theft, Escrows, and KYC compliance.
Sparking the new versatile economy: The Stratis coin STRAT is currently being traded on the open exchanges as one of the top cryptocurrencies by the market cap. It is used as a means to transfer value among the participants of the marketplace. It’s London-based, and has plans to advise businesses on the advantages of blockchain implementation.
Internet of Things: The platform is likely to have a strong impact on businesses in supply chain management, transportation, and inventory. The platform will bring everything into the blockchain which will be updated by internet consensus in real-time.
Product verification and tracking: The platform will solve the problem of product counterfeiting and forgery by tracking and identifying those involved on its blockchain.
Medical research: The platform’s blockchain will provide an immutable database of records which will enable medical professionals to solve the issues related to research and publication. The researchers can work without worrying about the legitimacy of the records.
Team at work
- Chris Trew, CEO and Founder: He is a consultant, architect, technologist, and backend developer specializing in C# and ASP.Net technologies, with over 10 years of experience in Enterprise IT. He has been involved in blockchain technology projects since 2013.
- Policarpo Guerrero, Director of Operations
- Krushang Patel, Head of Communications
- Carlton Pringle, Project Lead, Tumblebit and Breeze
If you are looking for a cryptocurrency with long-term prospects and a solid team at the helm, then go for Stratis. It doesn’t throw up any red flags, has an incredible team, and there are some key reasons for it to exist. It allows for non-disruptive sidechains for the primary blockchain, while Bitcoin doesn’t allow for any sidechain. Smart contracts on Stratis live on their own true sidechains. Operating a Stratis masternode is an incredibly lucrative venture, because it takes 250,000 coins to operate the one, thus providing a major incentive to the investors to hold their coins. Christ Trew, CEO of Stratis Ltd. says that he aims to top three market caps, and sees anything else as a failure. He believes that the future is bright for Stratis.