Stratis (STRAT) Review (UPDATED 2018): A Beginner’s Guide| VKOOL

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What is Stratis?

Stratis is a blockchain development resource that offers sidechains which don’t’ affect the usability of the primary blockchain. Businesses can modify it to adjust to their select features, all in an easy to access manner.

The full customization makes it useful for people who want a unique experience tailored for their respective business.  If more support is need you can rely on the team to offer their consultation when needed. In order for a blockchain to be secured, you’d have to use their STRAT token. We’ll go over in detail all that Stratis has to offer.

Fundamentals of Stratis

Unlike a full blockchain network, users can start using this as a way to develop individual applications. The use is simplified to help meet people’s demands when operating what’s known as a BaaS or Blockchain-as-a-Service.

BaaS

A cloud is set up instead of having to maintain a full network node. With this easier access it allows people to start developing instead of worrying about storage space and limitations to data.

Easily Deployed

A simple one-click blockchain allows people to start customizing and enjoying a network without the added effort. This simplicity allows users to start taking advantage of a sidechain for several other platforms beyond Stratis such as Ethereum and Bitcoin.

Private Sidechain

Stratis is both customizable and private to help prevent the loss of or exposure of sensitive information.  This sidechain makes it usable without affecting the quality of other chains linked to your network.  The use of smart contracts ensures that the sidechain is not touched by any potential token scam.

Fiat Currency

In the future this will allow for the transfer of fiat currency. This will allow the exchange of their token for an equal pricing to fiat.

ICO Possibility

In the future thy will have a fully accessible platform to set up an ICO, and as of now they offer a live demonstration featured on their website. This also takes advantage of the Stratis platform. Soon this will become more than a test with real-world applications.

How it Functions

The framework they use includes the Microsoft built .NET that is coded on C#. This is particularly useful for businesses software. The C# language is particularly useful for programmers who want to build a customizable experience.

There’s even a Stratis Developer Academy which hopes to educate would be developers as well as already active members of the community.

The way their blockchain functions is through the use of 3 separate kinds of nodes. They use Bitcoin to handle communication between nodes. LibConcensus is used for the consensus layer to validate a block. Finally there is Stratis Bitcoin Full Node which has direct communication with each layer.

Stratis Staff and Competition

The CEO has an expertise in C# and ASP.NET and has worked extensively on blockchain since 2013. The company is incorporated out of the UK and they offer their email and Twitter handle as methods of communication.

In the role of technical development is Nicolas Dorier, who taught companies about .NET. He also developed NBitcoin and that’s why it’s a part of Stratis.

Competition

There are several different competitors which use the same framework in BaaS. Sidechain enabled platforms exist like Ark and Rise, and they also offer the use of many kinds of programming languages.

Lisk is yet another competitor which uses the coding language JavaScript with even more sidechains.

What makes Stratis unique is that they use Proof-of-Stake algorithm, which allows for a majority consensus when making a decision as opposed to hiring delegates to represent the majority opinion. Proof-of-Stake is also easier to manage and does not require time consuming or labor intensive mining.

STRAT Value

Stratis token STRAT has bene able to enjoy a rise in its profit since it was introduced. It hit a high of nearly $20 at a certain point, and has stabilized to around the $10 range. This is also available on major marketplaces like Bittrex and Poloniex. They claim that it has a low risk for inflation and that it uses updated blockchain tech.

There are also different forms of storage mentioned on their website.

Buying STRAT

The places to buy STRAT include Upbit, Binance, Bittrex, Poloniex, Livecoin, HitBTC, Coinrail, Cryptopia, Abucoins, and several other sites.

With these marketplaces you can exchange it for your ETH, BTC, USDT, KRW,EUR, GBP, and even USD.

Storing STRAT

There are currently 4 different methods of storing STRAT.

Official Wallet

This is the most useful of wallets if you’re interested in accruing interest. By retaining STRAT you’re able to get even more of it when using this wallet.

Electrum

This fast wallet allows people to quickly send and receive STRAT. This can be downloaded to any Mac, Windows, or Unix based platform.

Breeze Wallet

This beta wallet is only offered to people on the Mainnet community and it offers enhanced security.

Hardware

You can use hardware like a Ledger Nano S which ensures that only you have access to your funds in a secure location.

Stratis vs Ethereum

Ethereum uses a blockchain that is more traditional and heavily used in the crypto community. This is right now the 2nd largest coin next to Bitcoin, and it is offered by many different marketplaces in exchange for alt coins. This is also valued much higher at a cost of $950 per ETH, and with a market cap of $92,876,737,374 USD.

Stratis vs Neo

Neo use a blockchain that was based out of China and they are often described as being the Chinese Ethereum. They offer smart contracts which enable many of the common programmer languages. Neo has gained a lot of exposure and it as increased greatly in value since its introduction. They are also majorly powerful in China which is a major hub for cryptocurrency.

Stratis vs Ardor

This public blockchain was written in Java and uses what is known as a child chain. This makes it customizable for the user and allows it to be hosted from the major Ardor blockchain. This was released in 2017 and is described by the developer as being easily moved with less “bloat” than the average blockchain.

Stratis vs Waves

Waves offers a blockchain and easy to use wallet that offers dividends of 1% per month when the full node is activated. They intend to be used as a token in all ICOs. Their multi-currency wallet is updated as of now with a total of 98,081 wallets created. The transfer of funds is made easy and they even offer the ability to mine with ease on a fully decentralized platform.

Stratis vs Ripple

Ripple has been adopted by some financial institutions and has seen a rise in its popularity. It uses a secure ledger which is available across the globe with much less fees than centralized currency. They have partnered up with many kinds of financial institutions since it saves them money and is easy to apply. This is used by major credit unions as well.

Stratis FAQ

  1. How to buy Stratis?
    A lot of different marketplaces offer it including Poloniex, Bittrex, Upbit, and many others.
  2. Where do I find Stratis coin news?
    A great source is their official Twitter or Stratis website.
  3. What’ a solid Stratis price prediction?
    No one can accurately predict for certain but this has since risen in value since it was released into the public.
  4. Best place to buy Stratis?
    This depends on what kind of currency you’re looking to trade with as most only offer BTC and ETH trading.
  5. Where to buy Stratis with USD?
    Southxchange, and Livecoin offer it for USD, and Trade by Trade and HitBTC provide exchanges for USDT.
  6. What is Stratis?
    A blockchain development tool that is particularly suited for financial based businesses. This offers privacy and ease of use.
  7. Where can I find Stratis news?
    We highly advise to visit their social media such as Twitter page or even their official website for updates.
  8. Is there a Stratis coin Reddit page?
    Their Reddit page is: https://www.reddit.com/r/stratisplatform/
  9. How to buy Stratis instantly?
    Many marketplaces offer fast interactions ,it just depends if you want to exchange for crypto or fiat currency.
  10. Where can I find the Stratis whitepaper?
    The full whitepaper is listed here: https://stratisplatform.com/files/Stratis_Whitepaper.pdf
  11. Where can I find a Stratis wallet?
    We recommend vising their official website where they list preferred wallets.
  12. What’s a good Stratis prediction for 2020?
    Predictions are impossible to truly reveal with there being so many unanswered questions.
  13. Is there a Stratis Wiki page?
    As of this review there’s only a Bitcoin Wiki page which has limited information.
  14. What is the official Stratis Twitter?
    Here it is: https://twitter.com/stratisplatform?lang=en
  15. Can I buy Stratis with credit card?
    Marketplaces only offer exchange for major crypto and some offer it for EUR, USD, GBP, and USDT.

Summary

Stratis offers a lot more adaptability than a standard blockchain and it uses coding language in C# that is easy to modify than other languages. This offers the ease of use through sidechains that are still secure and won’t interfere with the main network, the cloud storage also prevents the need to have to store things on expensive rigs. STRAT is offered on many kinds of marketplaces, making an easy to acquire token.

It’s still working on what may be a useful ICO strategy for people to start their own tokens. This may be particularly useful since it can be done without interfering with a main network. The team behind it also has an extensive background and seems to have a good understanding for creating a reliable blockchain network.

Peter Lehmann

Peter is a blockchain investor and cryptocurrency writer at Vkool.com. Since 2014 Peter has advised blockchain startups and ICOs on content marketing, strategy and business development.

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