Full description of Stratis
Stratis represents a blockchain-as-a-service (BaaS) platform that simplifies the development process by offering C# and .NET frameworks. Both of these programming languages have been utilized by developers for a while already and are familiar to the market while Solitidy and other languages for smart contracts are pretty new and complex which results in numerous bugs in the code.
With the help of Stratis, businesses can build their own private blockchains without having to operate the whole infrastructure. The project targets businesses of all sizes with the key focus on those who run their services in a Windows/Microsoft environment. The platform is fueled by a native
Cryptocurrency (?) STRAT and run by a London-based consulting agency that helps its clients create custom chains in accordance with their needs.
Stratis BaaS model
On the platform, Stratis offers its users the following set of the out-of-the-box components:
Private chains
Smart contracts
One-click deployment system
ICO platform
Stratis Identity solution
Businesses don’t have to develop all these items from scratch and maintain the costly infrastructure as Stratis takes all these headaches on itself. The platform takes the responsibility of managing the
Blockchain (?) networks and distributed ledgers via cloud computing and helps its customers to refocus their efforts to improve their own businesses.
Initially targeting the financial sector, Stratis has expanded its coverage and now offers its services to many other types of businesses. Also, in late 2018, Stratis was listed on the Microsoft Azure’s marketplace in the BaaS segment.
In December 2019, Stratis released the Security
Token (?) Offering platform compliant with US law and making it possible to raise funds on the blockchain in a fully legalized way.
Business use cases for Stratis private chains
Stratis offers businesses not only blockchain as a service but also strives to become a turnkey solution provider for companies that want to create customized blockchains for their own use. The platform allows launching private sidechains that are fully connected to the main Stratis blockchain and help companies with the following tasks.
First, sidechains make it possible to deploy custom applications without having to maintain the whole network. This helps businesses to significantly cut costs and at the same time gives access to the secure and stable solution as all the sidechains are connected to the main well-tested blockchain.
Next, sidechains are quite easy to use which reduces the time that companies need to develop and test their blockchain-based apps. Also, there is an option for launching your own cryptocurrency which can be used for purchasing gas to run smart contracts. Companies can customize different operational aspects of their sidechains, such as
Block (?) sizes, transaction management and ways of how metadata is stored.
Finally, although sidechains operate independently, they are still compatible with each other which simplifies the transfer of value within the system.
Real-life Stratis use cases
Some of the benefits that Stratis provides the real-world businesses are the following:
Medical research. With Stratis, medical research companies can easily solve their publication disputes as all the data will be stored in an immutable database. Reviewers, researchers, and publishers will be able to work with the research data without having to worry about its legitimacy.
Internet of Things. Such industries as transportation, supply chain, and inventory can make use of the blockchain synchronized with the IoT devices and updating the real-world information in the real-time.
Supply chain. Stratis can help to resolve the problem of tracking the products’ sources and counterfeit by storing the supply chain information in an immutable way on the blockchain.
Fintech. In the Fintech space, Stratis can be implemented in various ways helping to resolve the problems of trustless transactions, Identity Theft, Identity Management, KYC compliances, and many others.
STRAT token
The native cryptocurrency used on the Stratis platform bears the STRAT ticker. The project released the tokens during the initial
Coin (?) offering that took place in July 2016.
With the help of this initiative, the project managed to raise 675 thousand USD worth of bitcoins that were used for the development of the product. 98 million STRAT tokens were distributed to investors. STRAT is available for trading on many reputable
Exchange (or Cryptocurrency exchange) (?) platforms including Bittrex, Binance, and Bithumb. It can be stored on a native Breeze and Stratis Core wallets that are available for download on the official website or on third-party wallets such as Jaxx and Electrum. For those who want to get enhanced protection of their funds, a hardware
Wallet (?) Ledger Nano S can also be an option.
New tokens are created with the help of the Proof-of-Stake (PoS) mechanism which is energy-efficient compared to the Proof-of-Work (PoW) algorithm. Also, STRAT holders can stake their tokens and get periodically rewarded by the system.
The Stratis team
Since Stratis was launched while the level of competition in the blockchain industry was relatively low and projects didn’t have to prove their expertise with relevant profiles on Linkedin and other social media platforms, there is no information about the project founders except for that listed on their website.
Chris Trew is mentioned on the project’s website as the CEO and Founder. He has extensive experience in the financial sector as prior to founding Stratis he has worked for some of the top financial institutions for more than 10 years. He is also a consultant, architect and a backend developer specializing in ASP.NET and C# technologies.
Krushang Patel is listed as the Head of Communications and the second person in the project. He has 15+ years of experience in retail and international import/export having worked with more than 10 different countries.
- Exchange symbol (?): STRAT
- Cryptocurrency type (?): Token (?)
Stratis for developers
Stratis social sites
Source: NOMICS
