Stratis

What is Stratis?

Coin Stratis, or STRAX, is the official currency of the Stratis platform. Last thing a set of Blockchain as a Service (BaaS) solutions.

STRAX has several uses. Firstly, it is an integral part Stratis blockchain protection and its smart contracts. Secondly, STRAX serves medium of exchange in the Stratis ecosystem, which is used to pay for products and services.

When the Stratis crypto project was launched, it worked on STRAT token The total supply of Stratis coins was 98,000,000.

In 2016, Stratis held an Initial Coin Offering (ICO), during which the project sold 84,000,000 STRAT tokens and managed to raise approximately $600,000 in the form of Bitcoin. The remaining 14,000,000 STRAT were distributed as follows:

• 8,000,000 – Main team;
• 2,000,000 – Advisors and Partners;
• 4,000,000 – Bounty program and other campaigns.

When migrating to a new blockchainStratis introduced the STRAX token. The total supply is 125,000,000 STRAX. In addition, the project announced the minting of an additional 25,000,000 Stratis tokens. These tokens are minted by Proof of Stake (PoS) consensus algorithm. They were distributed as follows:

• 8,125,000 – Fund;
• 6,375,000 – Network incentives;
• 5,500,000 – Stimulation of enterprises;
• 5,000,000 – Stratis DAO.

STRAX comes with built-in annual inflation rate 10%. Therefore, it is extremely important to do proper research before making any purchasing decisions.

The chart above will help you take a closer look at the price history of STRAX and the current price of Stratis.

What are the main features of Stratis?

Stratis is an ecosystem of BaaS solutions. Its founding team based the platform on Bitcoin code. However, Stratis was written using C# programming languageunlike Bitcoin which uses C++.

In addition, Stratis is the first project to use .NET Framework from Microsoft.

It provides all the necessary tools needed to create and run a wide range of applications based on blockchain technologies. Moreover, Stratis Sidechains allow businesses to create their own blockchains that work alongside the Stratis blockchain. These new blockchains are capable of storing their own tokens tied to the STRAX coin.

This is an open source project. This means that anyone can access the code base.

As discussed in What is Stratis The Stratis token, STRAX, is one of the main components responsible for the security of the network. Stratis works using Proof of Stake (PoS) consensus mechanism. This means that network participants must STRAX rate to facilitate the process of creating new blocks and verifying transactions.

Stratis includes unique feature into a PoS mechanism, where participants who stake large amounts of Stratis tokens have a higher chance of mining a block. This improves network security.

Miners receive a block reward of 18 STRAX tokens.

Another element that ensures the security of the entire Stratis ecosystem is Stratis Sidechain masternodes. Anyone who meets the equipment and support requirements can become Masternode. They receive crypto rewards for their services.

V What is Stratis In the section we established that Stratis initially ran on the STRAT token. The project developed a new blockchain and launched it at the end of 2020 under the name STRAX.

The STRAX blockchain has received many new features and improvements including higher block rewards, block time reduced to 45 seconds, faster cross-chain transfer times, activation of SegWit, and the introduction of cold staking and dynamic masternode membership, among many other improvements.

Who developed Stratis?

The Stratis crypto project was launched in August 2016 by Stratis Group Ltd. It is a London-based blockchain company founded Chris Trew. However, he was not the only participant in the Stratis platform. Chris Trew with Guy Brandon and Nicolas Dorier published a white paper by Stratis.

One of the main reasons Trew decided to introduce the Stratis platform was to offer blockchain-based solution for large enterprises. At the time of the project’s founding, this problem had not been solved in any major blockchain project.

Chris Trew is a seasoned professional in the IT industry. He has worked in a wide range of sectors including government, legal, finance and aviation. Trew began his journey into the world of cryptocurrencies by volunteering with Blitz and Viral Exchange.

Be sure to check the Stratis price and other details on the tracker above.