Written and composed by Altcoin Magazine’s own project specialist jstarhead

Stratis to pave the way for institutional adoption with Blockchain as a Business (BaaB) and more

This article will focus on the Stratis blockchain. Therefore, we will provide you a short overview of Stratis itself and its Blockchain Metrics before diving deeper into the Unique Selling Propositions of Stratis.

Overview:

Stratis was created in August 2016 by Chris Trew to provide a powerful and flexible blockchain development platform to fit the needs of financial institutions and other organizations that like to deploy their own applications on top of the Stratis blockchain. While being written in pure C# and utilizing the Microsoft .NET framework, the Stratis blockchain apps can take advantage of the Stratis APIs and frameworks too. By combining one of the most dominant programming language ( C# ) and one of the largest frameworks ( .NET ) with its own dedicated blockchain architecture Stratis simplifies the development process of blockchains substantially and empowers its users to design their own customized blockchain.

View this YouTube video on Stratis’ Smart Contracts in C#.

Blockchain Metrics:

The Stratis blockchain is powered by its native token STRAT and is built on the C# Stratis Bitcoin Full node platform and framework, which is a near-complete port of the original Bitcoin.core architecture. It is a Blockchain-as-a-Service platform that provides its customer with the ability to develop blockchain-based applications. Stratis uses a Proof of Stake consensus with a limited emission and low inflation. The block generation time is 60 seconds, while the block reward is 1 Stratis and the network default fee is set to 0.0001 STRAT, which is reallocated between the stakers who secure the blockchain.

Next to the staking nodes, Stratis uses masternodes too. These nodes are dedicated hardware nodes that reside on servers around the world to ensure the needed redundancy and decentralization of the Stratis network, while providing higher network services, such as privacy features. For operating a Stratis masternode, a collateral of 250.000 STRAT is needed. By using a collateral, a blockchain avoids so-called rogue nodes, which could harm the network.

Unique Selling Propositions

All the Stratis key features are focused on the customized development of distinct, private blockchains, launched by a third party organization. Because most of them are very technical, the following pages will break down these features into so-called Unique Selling Propositions, for the average reader.

Stratis Private Chain

Stratis Private Chains allow developers to develop a blockchain based on their specific needs, on top of the underlying “parent” Stratis blockchain, which is well established enough to give users a high level of confidence in their security. In different to the Ethereum blockchain Stratis provides truly sidechains with their own block generation time, block size, and consensus. For example, when a company needs large block sizes to handle a high volume of transactions; fast block times to enable low latency trading; controlled transactions so that only authorized users can send a request to the network; a certain inflation rate; or additional space for metadata in each block, all these individual blockchain metrics for each sidechain can be specified at launch.

Benefit: One of the main advantages of sidechains using the same parent-chain is the ability to use cross-chain functionalities within the blockchain ecosystem they are based in. The result is an inter- Private Chain-network of free choice, connected due to the Stratis blockchain. That means, that every Stratis Private Chain can interact with each other or operate stand alone if so they desire.

ICOs as a Service

The Stratis ICO platform launched in May 2018 and offers a sort of white label solutions for companies who like to run an ICO. The shortcut ICO is the abbreviation of an initial coin offering, which is a way to fund a startup. Stratis offers its customers the ability to accept funds in more than 50 cryptocurrencies, including STRAT and BTC, and U.S. dollars as well. Additionally, Stratis enables the ICOs to check their participants’ identities due to a Know-Your-Customer service. All funds collected by the ICO are not stored on the server itself, but on so-called hierarchical deterministic wallets to ensure the highest level of security.

Benefit: Running an ICO for a young company is a tall task. It is almost impossible to find an ICO that went through smoothly without running into technical glitches or being attacked by scammers. The Stratis ICO Platform is the first of class ICO platform, which ensures a smart, easy and secure way for both — the company and the contributors, to run an ICO.

Blockchain as a Business

Stratis offers a hosting service for blockchains running on the network through the Stratis cloud. By using the Stratis lite clients, sidechains and API a company does not need to support the entire blockchains network. That way, the Stratis blockchain is used as a host chain, which secures all third-party chains build on it.

Benefits: By combining the advantages of cloud computing with the benefits of a blockchain Stratis provides the needed infrastructure, platform, and software for setting up a distributed ledger using business, at the same time. That way developers are empowered to test and deploy their blockchain-based applications in the cloud without being forced to maintain a complicated server and full node infrastructure on their own.

C# and Microsoft .NET framework

The Stratis platform uses a three-tier architecture, which is well known by the Microsoft® ASP.NET applications style. This architecture was chosen, because it fits well to the Stratis Full Node, Stratis Blockchain API, the Cloud Stratis API and the Stratis Secure-Payment-Verification technology, which are all developed in C# and run within the Microsoft .NET Framework.

Benefits: C# is the multi-paradigm programming language developed by Microsoft within its .NET framework. By using this programming language Stratis fills the gap between mass adoption and blockchain.

Scalability

The scalability of a blockchain represents the default transaction throughput in the network, which is a major issue for every blockchain because every transaction needs to be stored on the blockchain to ensure transparency and immutability. Stratis faces this in several different ways. Firstly, every Stratis Private Chain can be individually designed from scratch. So, every organization can focus on their needs and freely choose between different block sizes and block generation times. Furthermore, the Stratis comprises as a host chain from which all Sidechains can deploy their own ledgers. Lastly, the Stratis blockchain itself employs a Proof of Stake consensus which aligns a high throughput by default and is responsible for the Stratis network security as well.

Benefits: Especially the sidechains benefit from this scalability solution. Normally, they would need to operate and maintain their own fullnodes, if they were running on their own. Being a Stratis sidechain instead allows them to choose between different block size and generation time models, which out being responsible for the operation of the chosen blockchain metrics. That way, every company can deploy ledgers depending on their specific requirements, while reflecting on their own needs and resources.

Bitcoin-related

Stratis Private Chains are based on the same codebase as the main Stratis Chain, which uses the same RPC API as Bitcoin.core. That means, that the entire Stratis ecosystem is related to the Bitcoin.core development. That way, Stratis contributes to the development of Bitcoin.core, too, while further developing NBitcoin, the most complete C# .NET Bitcoin library — while Bitcoin.core contributes to the development of Stratis.

Benefits: Doing so, Stratis will always be based on the current version of Bitcoin and can adopt all achievements unlocked by the Bitcoin community without any effort.

Stratis in comparison

In this section, we will try to break down how Stratis as a platform compares to a world famous project like Ethereum.

Consensus

Ether is still using a Proof of Work consensus, while the stratis network is protected by Proof of Stake. PoS achieves the same distributed consensus, while being much more energy efficient than PoW.

Masternodes

In difference to Ether, Stratis uses masternodes to provide high network services which aren’t limited to the average miner’s hardware specifications.

Programming Language

Ethereum is written in a new programming language, called Solidity which isn’t well known yet. Stratis is coded in C# and uses the NET. Framework. Both are one of the most common high languages/frameworks in the world.

Childchains

The Ethereum DApps and tokens are running on subchains of the ETH parentchain. By doing so, the subchains are limited in their functionality — so they can’t use a truly consensus or individual block generations times or sizes.

Additionally, the parentchain can be harmed by its “children”, because there is no way to separate both. Stratis avoids such problems, by providing true side chains with their own blockchain metrics.

Developed by

Ethereum is a decentralized autonomous organization where all businesses are done by the community itself. In different to this, Stratis is a company which provides blockchain services for other companies.

Full ICO Service

Both platforms offer ICO solutions and DApps. In Ethereum everyone can run an ICO and create his tokens without any limitation, but also without any control or support. Stratis offers a completely free ICO platform which guides you through the process, including the entire funding and smart contract reviews to avoid buggy contracts, which are a huge problem for the Ethereum chain.

Bitcoin Related

Unlike ETH, stratis has a close relationship with bitcoin and the bitcoin development. By doing so, Stratis can adopt any achievements of the bitcoin.core development without any effort, while still focusing on its own business.

Privacy

Thanks to the new breeze wallet, Stratis offers truly private features. Ethereum hasn’t any native privacy features additional to the regular blockchains anonymization.

Conclusion

If you are looking for a blockchain that fits in both, our present and tomorrow’s world, you should keep an eye on Stratis. Thanks to its’ near to already established IT-companies, such as Microsoft, and its relation to disruptive innovations, such as bitcoin, Stratis is one of a few cryptocurrencies which already closed the gap between the well-known present and the exciting future of decentralized distributed ledger technologies.

How to get involved

After informing you about Stratis, we would like to share with you what opportunities you have to acquire Stratis and benefit from staking your Stratis to protect the network and earn a passive income.

Buy Stratis

Stratis is a Top 50 cryptocurrency and can be purchased at nearly every well-known crypto exchange, such as Binance.com, Bithumb.com or Bittrex.com. The main crypto-trading-pair for Stratis is BTC/STRAT at Binance and Bittrex, while the main fiat-trading-pair for Stratis is KRW/STRAT at Bithumb. KRW is the native fiat currency of South Korea.

Stake Stratis

There are several ways to generate a passive income for staking your Stratis. Once you purchased Stratis from an exchange, you need to store them in a staking wallet to receive your staking rewards. Usually, there are two ways to earn these extra coins.

1) Stratis Fullnode Wallet: After you bought your first Stratis this wallet is perfect for you to get started. Send, receive or stake your coins. Always make sure you download the latest

release from a trusted source like Stratis very own GitHub account. Keep in mind, you need to connect your wallet to the blockchain for being eligible to receive staking rewards. That simply means: keep your computer “online” and your wallet “unlocked for staking only” as long as possible.

2) Staking Services: By using a staking service you don’t need to download and maintain a Stratis fullnode wallet. It’s highly recommended to only use well-known Staking services, such as https://cloud.stakenet.io/ by Stakenet or https://stratispool.com/. Keep in mind, you hand over your private key to the staking service provider for being eligible to receive staking rewards. That simply means: the staking service provider pools your Stratis with other people’s deposits and credits you with your share of each staking reward.

Where to catch up with Stratisplatform?

Join their social media accounts to get all news on upcoming announcements, events and more at their Facebook, Twitter, Discord and of course their Medium.

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The purpose of ALTCOIN MAGAZINE is to educate the world on crypto and ultimately to bring it to the hands and the minds of the masses. Brought to you by the best writers in the world. This article was written and composed by jstarhead from Altcoin Magazine.

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