What is Stratis? All You Need to Know About STRAX

What is Stratis?

Stratis (STRAX) is a decentralized blockchain platform that enables developers to build blockchain solutions using familiar programming languages like C# and .NET. It offers an energy-efficient and scalable architecture based on Bitcoin and utilizes sidechains for enhanced functionality. Stratis provides tools, SDKs, and resources for developers, while STRAX token holders can benefit from staking and masternode deployment. The platform also features the Stratis Academy for blockchain education and a decentralized accelerator for funding projects. STRAX serves as the platform’s native cryptocurrency, facilitating value transfer and smart contract execution. Stratis aims to streamline blockchain adoption and become the preferred blockchain solution for Microsoft developers utilizing the .NET Core framework.

History of Stratis (STRAX)

Stratis, founded in 2016 by Chris Trew, aimed to address the complexities of blockchain adoption by offering a user-friendly development platform. The project gained attention for its focus on Microsoft technologies, aiming to become the go-to blockchain solution for .NET developers. Stratis conducted an Initial Coin Offering (ICO) in June 2016, raising approximately $600,000 worth of Bitcoin (BTC).

In August 2016, Stratis released its initial alpha version, showcasing its capabilities to the public. Throughout 2017, the team continued to refine and improve the platform, launching the beta version in January 2017. This marked a significant milestone, demonstrating the development progress and attracting the attention of developers and enterprises interested in building on the Stratis blockchain.

In June 2017, Stratis released the full version of its platform, offering features such as smart contracts and sidechains, bolstering its appeal as a comprehensive blockchain development solution. The team continued to focus on expanding the ecosystem and fostering partnerships with industry players, including Microsoft, to promote adoption and integration with existing business infrastructure.

Since then, Stratis has remained committed to continuous development and innovation. It has introduced various upgrades, including the development of Cirrus Core, a sidechain implementation, and the launch of its native STRAX token in August 2020. These advancements have further solidified Stratis’ position as a prominent blockchain platform, serving developers, enterprises, and businesses seeking to leverage the benefits of blockchain technology.

Throughout its history, Stratis has evolved from an ambitious project to simplify blockchain development to a mature platform that offers a secure, scalable, and user-friendly environment for building blockchain-based solutions. The team’s dedication to improving the platform and its strategic partnerships have contributed to its growth and recognition within the blockchain industry.

How does Stratis work?

Stratis is a decentralized blockchain platform that operates on a Proof-of-Stake consensus algorithm. It utilizes sidechains to enhance scalability and privacy while allowing for interoperability. Developers can leverage smart contracts written in C# to build decentralized applications (DApps). Stratis provides user-friendly tooling, software development kits (SDKs), and APIs to simplify the development process. The platform’s native cryptocurrency, STRAX, serves as a means of value transfer and enables participants to stake their tokens for network participation and rewards. Overall, Stratis offers a secure and flexible environment for blockchain development and adoption.

Smart Contracts

Stratis’ Smart Contracts offer a powerful and flexible framework for executing programmable agreements on the blockchain. Developed in C#, a widely adopted programming language, Stratis enables developers to leverage their existing skills and tools for smart contract development. Smart contracts on the Stratis platform provide transparency, immutability, and automated execution, eliminating the need for intermediaries and increasing efficiency in various business processes.

With Stratis’ Smart Contracts, developers can define custom business logic and rules that automatically execute when specific conditions are met. This enables the creation of decentralized applications (DApps) with self-executing agreements, eliminating the need for trust in third parties. Stratis Smart Contracts benefit from the underlying security and decentralization of the Stratis blockchain, ensuring the integrity and reliability of contract execution. By utilizing C#, developers can take advantage of the language’s rich features, extensive libraries, and mature development ecosystem, making it easier to write, test, and deploy complex smart contracts on the Stratis platform.

Consensus Algorithm

Stratis operates on a Proof-of-Stake (PoS) consensus algorithm, which differs from traditional Proof-of-Work (PoW) algorithms. In PoS, the ability to validate transactions and create new blocks is determined by the number of tokens held and staked by network participants. This means that participants with a higher stake in the network have a greater chance of being chosen as block validators and earning rewards.

The PoS consensus algorithm used by Stratis offers several advantages. First, it significantly reduces energy consumption compared to PoW algorithms, as there is no need for resource-intensive mining computations. This makes Stratis a more environmentally friendly blockchain platform. Second, PoS promotes network security by discouraging malicious behavior. Participants who attempt to manipulate the blockchain or validate fraudulent transactions risk losing their staked tokens, which is a strong deterrent. Lastly, PoS enables a higher transaction throughput and faster block confirmation times, leading to improved scalability and responsiveness for decentralized applications built on the Stratis platform.

Using a PoS consensus algorithm, Stratis provides an energy-efficient, secure, and scalable blockchain infrastructure. This consensus mechanism aligns with the platform’s goal of being a sustainable and accessible blockchain solution for developers and businesses, offering an alternative approach to consensus that addresses the limitations of traditional PoW algorithms.

Blockchain Infrastructure

Stratis blockchain infrastructure forms the platform’s foundation, providing a secure and decentralized environment for transaction validation and data storage. The architecture of Stratis is based on Bitcoin, the most secure and widely adopted blockchain technology to date. This ensures a robust and proven framework for the Stratis blockchain. By leveraging Bitcoin’s infrastructure, Stratis inherits its security features, including the immutability of transaction history and resistance to tampering.

Stratis also incorporates its own innovations to enhance the blockchain infrastructure. One notable aspect is the use of sidechains, which are independent blockchains connected to the main Stratis blockchain. Sidechains enable scalability by offloading certain transactions and computations to separate chains while maintaining interoperability with the main blockchain. This architecture allows for increased transaction throughput and improved privacy, as sensitive data can be kept off the main chain.

Token Economy

Stratis (STRAX) is an enterprise-grade blockchain infrastructure and service provider that enables anyone to create private sidechains and leverage blockchain identification services. The network’s native token, STRAX, serves as the main utility token. This digital asset, initially introduced as STRAT before changing its name in 2020, can send value globally and permissionless. It also serves as a reward token and can be staked to secure passive returns on the network.

The total supply of STRAX tokens is capped, providing a scarcity factor that can contribute to the token’s value over time. The circulating supply of STRAX tokens and the token’s market cap are not readily available, making it difficult to assess its current market penetration.

Stratis utilizes a Tindermint Proof of Stake (PoS) consensus mechanism. PoS systems eliminate the use of miners and replace them with average users. There are no special tools needed to stake your tokens and secure returns. Staking is a better option than trading for most people because there is no mystery regarding your reward payout. The staking calculator enables you to see exactly what your returns will be when your staking period ends. You can improve your returns by increasing the number of tokens you stake.

Stratis is planning to launch the British pound stablecoin, Stratis GBP. Stablecoins derive value from third-party assets which enables them to avoid market volatility. This addition to the Stratis ecosystem will give users more options for transacting and investing within the network.

Stratis was launched in 2016 by Stratis Blockchain Technologies, led by Chris Trew. The London-based firm officially established STRAX in 2020 as part of its drive to support advanced DeFi functionalities. Today, Stratis is a popular project in the market, with STRAX available on several exchanges including KuCoin, Binance, and WazirX.

Security and Privacy

Stratis prioritizes security and privacy within its blockchain platform. The architecture of Stratis is built upon Bitcoin, a blockchain known for its robust security features. By inheriting the underlying security mechanisms of Bitcoin, Stratis benefits from the immutability of transactions, protection against double-spending, and resistance to tampering. This ensures that data stored on the Stratis blockchain remains secure and trustworthy, providing a solid foundation for various applications and use cases.

To enhance privacy, Stratis incorporates innovative features such as sidechains. Sidechains allow for the segregation of specific transactions and data onto separate chains, which helps to preserve privacy by keeping sensitive information off the main blockchain. This approach allows for selective disclosure of information, ensuring that only the necessary details are shared while maintaining privacy for users and their transactions.

Stratis also supports smart contracts, which can be programmed to handle privacy-related functionalities, such as secure data storage and controlled access to sensitive information, further strengthening privacy measures within the platform.

Industry-Specific Solutions

Stratis has developed industry-specific solutions tailored to address the unique requirements and challenges of various sectors. By conducting in-depth research and leveraging the expertise of onboarded advisors, Stratis has gained a deep understanding of different industries and their specific needs. This knowledge has enabled the development of blockchain solutions that cater to sectors such as finance, supply chain, healthcare, and more. These industry-specific solutions are designed to streamline processes, enhance transparency, and improve efficiency within their respective domains.

For example, in the financial sector, Stratis offers solutions like the Stratis Identity Platform, which focuses on identity management and authentication to enhance security and combat fraud. In the supply chain industry, Stratis provides solutions for traceability and provenance, enabling transparent and auditable tracking of goods throughout the supply chain. Healthcare solutions from Stratis aim to improve data interoperability and security, facilitating the secure sharing of patient records and enhancing collaboration among healthcare providers.

By delivering industry-specific solutions, Stratis is committed to addressing real-world challenges and providing practical blockchain solutions that can drive innovation and transformation within different sectors. These solutions leverage the unique benefits of blockchain technology, such as immutability, transparency, and enhanced security, to deliver tangible value and meet the specific needs of industries seeking to leverage the potential of blockchain technology.

Stratis’s Main Features: Development Languages, Developer Tools, Academy and more

Stratis offers a range of features that make it a comprehensive blockchain platform. These features include smart contract functionality, a Proof-of-Stake consensus algorithm, interoperability with other platforms, sidechains for scalability, a decentralized accelerator for project funding, and a dedicated academy for blockchain education. Additionally, Stratis provides a secure and energy-efficient blockchain infrastructure, industry-specific solutions, and a native token (STRAX) that fuels transactions and incentivizes network participation. These features collectively enable developers and businesses to build, deploy, and benefit from blockchain solutions confidently and efficiently on the Stratis platform.

Development Languages

Stratis offers a development environment that is familiar and accessible to developers, particularly those with experience in Microsoft technologies. One of the notable aspects of Stratis development is using C# as the primary programming language. C# is a widely used and powerful language within the Microsoft ecosystem, and Stratis leverages its capabilities to enable developers to build blockchain solutions with ease. Using C#, developers can leverage their knowledge and skills to create smart contracts, implement business logic, and interact with the Stratis blockchain.

In addition to C#, Stratis supports other popular development languages such as .NET Core and JavaScript. This multi-language support expands the accessibility of the platform, allowing developers from different backgrounds to participate in blockchain development using their preferred programming languages. By providing a range of development languages, Stratis promotes inclusivity and ensures that developers can choose the language they are most comfortable with, enabling a broader community of developers to engage with and contribute to the Stratis ecosystem.

Developer Tools

Stratis provides a comprehensive set of developer tools and resources to empower developers in building blockchain solutions. One of the key tools offered by Stratis is the Stratis Full Node, which serves as the backbone of the Stratis blockchain network. The Full Node allows developers to interact directly with the blockchain, access transaction data, and deploy smart contracts. It provides a robust foundation for developers to build and test their applications securely.

Stratis also offers a range of Software Development Kits (SDKs) and APIs that facilitate seamless integration of blockchain functionality into applications. These SDKs and APIs provide developers with the necessary tools and documentation to interact with the Stratis blockchain, including features like transaction handling, smart contract deployment, and accessing blockchain data. The availability of these developer tools simplifies the development process and accelerates the creation of blockchain-based solutions on the Stratis platform.

Stratis Academy

Stratis provides comprehensive documentation, code examples, and tutorials through the Stratis Academy, an educational resource dedicated to blockchain knowledge sharing. The Academy equips developers with the necessary insights and guidance to understand blockchain concepts, learn about Stratis-specific functionalities, and start their blockchain development journey. By offering a combination of developer tools, SDKs, APIs, and educational resources, Stratis empowers developers with the necessary resources to build, deploy, and innovate on the Stratis blockchain platform.

Decentralized Accelerator

The Stratis Decentralized Accelerator (SDA) is a unique initiative to provide funding and support to blockchain-based projects. With over $10 million dedicated to the SDA, it is a decentralized funding mechanism for innovative projects built on the Stratis platform. The SDA operates through on-chain governance, ensuring transparency and community participation in the decision-making process.

Through the SDA, blockchain projects can access funding to bootstrap their development and bring their ideas to fruition. The funding provided by the SDA catalyzes project growth, enabling teams to focus on building their applications and solutions without the constraints of traditional fundraising methods. This decentralized approach ensures that promising projects receive the necessary resources and support to thrive, fostering a vibrant innovation ecosystem within the Stratis community.

The SDA has already supported several successful projects, showcasing its effectiveness as a funding platform for blockchain ventures. By providing financial resources and a decentralized governance structure, the Stratis Decentralized Accelerator plays a vital role in nurturing and advancing the development of blockchain-based projects, contributing to the overall growth and success of the Stratis ecosystem.

Cross-Chain Interoperability

Stratis emphasizes cross-chain interoperability, enabling seamless communication and interaction between the Stratis blockchain and other blockchain platforms. Interoperability is achieved through sidechains, which act as independent blockchains linked to the main Stratis blockchain. These sidechains facilitate the transfer of assets, data, and value between different blockchain networks, enabling cross-chain interoperability.

By leveraging sidechains, developers can build decentralized applications (dApps) that interact with multiple blockchain platforms, expanding the possibilities for creating innovative and interconnected solutions. This interoperability opens up opportunities for collaboration, integration, and utilizing features and assets from different blockchain ecosystems. It enables Stratis to be integrated with existing blockchain networks and protocols, enhancing the flexibility and utility of the platform.

Stratis’s cross-chain interoperability not only promotes collaboration between different blockchain platforms but also allows users and developers to leverage the strengths and benefits of various ecosystems. It paves the way for enhanced scalability, improved functionality, and increased adoption by providing a bridge between different blockchain networks. By facilitating seamless communication and interaction across chains, Stratis empowers developers to create robust and versatile applications that harness the strengths of multiple blockchain platforms.

Sidechains

Stratis sidechains are a key component of the Stratis blockchain platform, offering enhanced scalability and flexibility. Sidechains are independent blockchains linked to the main Stratis blockchain, allowing the execution of specific functions and applications separate from the main chain. This architecture enables developers to create and deploy custom sidechains tailored to their needs, providing a scalable solution for various use cases.

Sidechains offer several benefits, including improved performance and throughput by offloading certain transactions and computations from the main blockchain. They provide a dedicated environment for executing smart contracts and deploying applications, reducing congestion on the main chain and enhancing overall network efficiency. Sidechains also enable developers to experiment with new features, protocols, and consensus mechanisms, fostering innovation within the Stratis ecosystem.

Sidechains also enable interoperability between different blockchain networks. By leveraging sidechains, developers can facilitate the transfer of assets, data, and value between different blockchain platforms, promoting cross-chain interoperability. This opens up possibilities for collaboration, integration, and utilizing features from various blockchain ecosystems, expanding the capabilities and reach of applications built on the Stratis platform. With the flexibility and scalability offered by sidechains, Stratis provides a versatile and adaptable blockchain infrastructure that can accommodate a wide range of decentralized applications and industry-specific solutions.

Security model and communication with the main chain

A Two-Way Federated Peg solution facilitates the communication between the main chain and the sidechains in Stratis. This solution allows STRAX to be passed to and from a sidechain, and a federation controls the gateway through which they pass. The federation consists of 3 or more members who have control of the sidechain. This mechanism ensures that the sidechains remain secure and harmonizes with the main Stratis blockchain.

The security model for Stratis sidechains is based on a Proof of Authority (PoA) consensus algorithm, which is also dependent on a federation. The usage of PoA represents a major step forward from the alpha release of Stratis sidechains, which used a Proof of Work (PoW) algorithm. PoA algorithms are not only suitable for sidechains but are also employed by Stratis’ Distributed Ledger Technology (DLT) solutions.

One way of understanding sidechains is to think of a sidechain as a foreign country and the Stratis mainchain as the user’s home country. The federation secures an amount of the foreign currency (in this case, the sidechain’s unique currency), which it can loan to sidechain visitors in return for depositing STRAX. When users return home, they can relinquish their sidechain currency and withdraw the equivalent amount in STRAX on the mainchain.

To facilitate this process, Stratis provides a modified STRAX wallet and a sidechain-specific wallet. Users can deposit STRAX on the sidechain and in return, they receive the sidechain’s unique currency to spend on the sidechain. This process ensures that the sidechain operates in harmony with the main Stratis blockchain and that the value of the STRAX token is preserved.

What is the STRAX Token?

The STRAX token is the native cryptocurrency of the Stratis blockchain platform. It is a fundamental component of the Stratis ecosystem, enabling various functionalities and interactions within the network. As a utility token, STRAX is used for value transfer, fueling transactions, and facilitating the execution of smart contracts on the Stratis blockchain.

The STRAX token can be obtained through exchanges that support its trading, making it easily accessible to users and investors. It provides liquidity and serves as a means of exchange within the Stratis ecosystem, allowing users to participate in various activities and services offered on the platform. STRAX token holders can participate in staking and masternode deployment, earning passive rewards for securing the network and supporting its operations.

Stratis also offers wrapped STRAX (wSTRAX), which is an ERC-20-compatible token available on the Ethereum blockchain. wSTRAX provides interoperability between the Stratis and Ethereum ecosystems, enabling users to leverage the features and benefits of both platforms. It can be traded on decentralized exchanges and used in Ethereum-based applications, expanding the utility and reach of the STRAX token beyond the Stratis network.

Is Stratis (STRAX) a Good Investment?

Stratis offers a decentralized blockchain development platform that enables Microsoft developers to build blockchain solutions using familiar programming languages like C#. This approach aims to lower the barriers to entry for developers and promote wider adoption of blockchain technology. Additionally, Stratis emphasizes cross-chain interoperability through its sidechain infrastructure, allowing for seamless interaction with other blockchain networks. This capability opens up opportunities for collaboration, integration, and utilizing features from different ecosystems. By focusing on industry-specific solutions and offering a range of development tools and resources, Stratis aims to cater to the diverse needs of enterprises and developers in the blockchain space.

How to own STRAX?

One way to own STRAX is to go through a centralized crypto exchange. The first step is to create a Gate.io account and complete the KYC process. Once you have added funds to your account, check out the steps to buy STRAX on the spot or derivatives market.

Take Action on STRAX

Check out STRAX price today and start trading your favorite currency pairs:

• STRAX_USDT