Stratis

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Discover Stratis's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Stratis?

Stratis (STRAX) is a decentralized blockchain platform designed for enterprise developers to create personalized blockchain solutions. It offers scalability, sidechains, and C# compatibility, making it a user-friendly development platform. The native token, STRAX, serves as a utility token for transactions, staking, and masternode deployment, and is used to fuel the Stratis Blockchain.

How is Stratis used?

Stratis (STRAX) is a versatile token that serves multiple purposes within the Stratis ecosystem. Here are some of the key uses of STRAX:

  1. Purchasing Services: STRAX can be used to purchase or operate various services on the Stratis platform, such as sidechains, executing smart contracts, and staking to operate a node.

  2. Staking and Rewards: STRAX is a reward token and can be staked to secure passive returns on the network. Staking involves locking tokens in a network smart contract for a predetermined time, providing a low-risk way to generate returns.

  3. Sending Value: STRAX can be used to send value across the globe in a permissionless manner, making it a convenient means of transferring value.

  1. Customizable Sidechains: Users can create and customize their own sidechains using STRAX, which can have their own consensus and governance mechanisms. These sidechains can also issue their own tokens.

  2. Masternodes: STRAX can be used as collateral to operate masternodes, which can result in subscribers receiving fees.

  3. Token Swap: STRAX is involved in token swaps, where holders need to obtain an EVM-compatible wallet like MetaMask to receive the new tokens.

Overall, STRAX is the main utility token for the Stratis network, providing a range of functionalities that support the development and utilization of blockchain solutions.

How do I store Stratis?

To store Stratis (STRAX) tokens, you can use a cold wallet. Here's a step-by-step guide:

  1. Set up a cold wallet:

    • Go to the "Cold wallet functionality" section and click the "Set up this wallet as a cold wallet" tab.
    • Enter your password and click "Set up cold wallet" to complete the setup.
  2. Generate a new Strax address:

    • Use the AddressOwnershipTool to generate a new Strax address. This tool will create a CSV file with the original Strat address and the new Strax address.
  3. Transfer tokens to the new address:

  • Use the CSV file to transfer your tokens from the original Strat address to the new Strax address.

By following these steps, you can securely store your STRAX tokens in a cold wallet.

How to buy Stratis?

To buy Stratis (STRAX) tokens, follow these steps:

  1. Create an Account:

    • Register on a cryptocurrency exchange that supports STRAX trading, such as KuCoin, Binance, or Gate.io.
    • Verify your email address and identity to secure your account.
  2. Deposit Funds:

    • Deposit funds into your exchange account using a debit card, credit card, wire transfer, or Bitcoin.
    • Ensure the exchange supports your preferred payment method.
  3. Buy STRAX:

  • Navigate to the exchange's trading platform and select STRAX as the cryptocurrency you want to buy.
  • Enter the amount you want to purchase and confirm the transaction.
  1. Store STRAX:
    • You can store your STRAX tokens in your exchange account or transfer them to a non-custodial wallet for added security.

Additionally, you can also use decentralized exchanges (DEX) like Uniswap or Pancakeswap, but the process may vary depending on the DEX and its underlying blockchain.

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History of Stratis

Stratis (STRAX) was founded in 2016 by Chris Trew, who aimed to create an enterprise-focused blockchain platform. Initially, the Stratis Token was issued on a blockchain maintained by a modified instance of Bitcoin. However, in 2020, the STRAX Blockchain was launched, providing a new environment for the Stratis Foundation to grow and develop rapidly. This new blockchain was built from scratch on the .NET Core Framework, allowing for flexibility and agile development without blocking progress.

The initial native token of the platform was STRAT, but in November 2020, the Stratis platform announced the deployment of the new blockchain and the introduction of the STRAX token, which replaced the old STRAT coin. This change allowed for greater flexibility and development without barriers that hindered progress.

Stratis conducted a successful ICO in June 2016, which ended in July 2016, bringing in almost 1000 BTC. The platform eventually developed its own ICO platform in May 2018 for crypto companies looking to launch their own ICOs.

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How Stratis works

Stratis (STRAX) is an enterprise-grade blockchain infrastructure and service provider designed to simplify the integration of blockchain technology into existing business systems. Here's how it works:

Blockchain Infrastructure

Stratis operates its own blockchain, which is powered by the STRAX token. This blockchain is built on the .NET Core Framework, making it compatible with familiar programming languages like C# and .NET. This compatibility allows developers to build blockchain solutions using tools they are already familiar with, reducing the technical barriers to adoption.

Sidechains

A key feature of Stratis is its use of sidechains. Sidechains are independent networks that can be customized to meet specific needs. These networks can host private smart contracts, wallets, and more. Developers can create decentralized applications (DApps) that run on the sidechains or the entire Stratis ecosystem. Users can create completely independent sidechains that use their own consensus and governance mechanisms, and these networks can issue tokens as well.

Proof-of-Stake (PoS) Consensus Mechanism

Stratis uses a Proof-of-Stake (PoS) consensus mechanism, which means that people verify transactions and add blocks to the blockchain based on how much STRAX they hold. This approach is more energy-efficient compared to traditional Proof-of-Work (PoW) networks like Bitcoin, reducing the overall carbon footprint of the network.

Staking and Masternodes

STRAX token holders can participate in staking and masternode deployment, earning passive rewards for securing the network and supporting its operations. Staking involves locking tokens in a network smart contract for a predetermined time, and masternodes are specialized nodes that perform additional functions like governance and voting.

Token Usage

The STRAX token is the native cryptocurrency of the Stratis blockchain platform. It is used for various functionalities within the network, including:

  • Value Transfer: STRAX enables value transfer between users.
  • Fueling Transactions: STRAX is used to fuel transactions on the Stratis blockchain.
  • Smart Contract Execution: STRAX facilitates the execution of smart contracts on the Stratis blockchain.
  • Purchasing Services: STRAX can be used to purchase or operate different services on the platform, such as paying for customizable private sidechains.
Interoperability

Stratis also offers wrapped STRAX (wSTRAX), which is an ERC-20-compatible token available on the Ethereum blockchain. This allows for interoperability between the Stratis and Ethereum ecosystems, enabling users to leverage the features and benefits of both platforms.

Blockchain Identification Services

Stratis provides blockchain identification services, which streamline online identification by tokenizing user data. This approach helps prevent future identity thefts due to data breaches.

Consulting and Support

The Stratis Group supplies consulting services and technical support to businesses seeking to leverage the advantages of blockchain technology. This support includes helping businesses integrate blockchain solutions into their current systems, reducing the cost and technical requirements for adoption.

Overall, Stratis aims to streamline blockchain adoption by providing a user-friendly development platform, scalable architecture, and energy-efficient consensus mechanism.

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Stratis's strengths

Stratis (STRAX) has several strengths that make it an attractive blockchain platform for developers and enterprises:

  1. Ease of Use: Stratis is designed to be user-friendly, making it accessible to developers who are new to blockchain technology. It offers a range of tools and resources, including development kits and the Stratis Academy, to help developers build blockchain solutions efficiently.

  2. Scalability: Stratis is built on Bitcoin and utilizes sidechains, which enhance its scalability and allow for faster transaction processing. The platform's Proof of Stake (PoS) consensus mechanism also contributes to its energy efficiency and speed.

  3. C# and .NET Compatibility: Stratis is particularly appealing to developers familiar with C# and .NET programming languages, as it allows them to leverage their existing skills to build blockchain applications. This compatibility makes it an attractive option for Microsoft developers using the .NET Core framework.

  1. Customization and Flexibility: Stratis enables users to create private sidechains and customize them to meet specific needs. This flexibility allows the platform to serve a wide range of purposes, including the development of decentralized applications (DApps) and DeFi products.

  2. Staking and Masternode Deployment: STRAX token holders can benefit from staking and masternode deployment, which provide a low-risk way to generate passive returns on their investments. The staking calculator helps users predict their returns, making it a more predictable and secure option compared to trading.

  3. Enterprise-Grade Infrastructure: Stratis offers consulting services and technical support to businesses, making it an enterprise-grade blockchain infrastructure and service provider. This support helps streamline the integration of blockchain solutions into existing business infrastructure.

  1. Innovative Features: Stratis has introduced several innovative features, such as the Stratis GBP stablecoin, which provides users with more options for transacting and investing within the network. The platform also has a decentralized accelerator fund to support project development.

These strengths position Stratis as a robust and versatile blockchain platform that can cater to a variety of needs and use cases.

Stratis's risks

Stratis (STRAX) is considered a high-risk investment due to its volatility and potential for manipulation. The risk gauge rank for STRAX indicates that it is currently a high-risk investment, with low values representing high risk and high scores equating to low risk. This assessment is based on factors such as the amount of money required to move the price over the past 24 hours, changes in volume, and market capitalization.

Additionally, trading Stratis involves typical cryptocurrency market risks, including volatility, regulatory changes, cybersecurity threats, and market manipulation. These risks can result in significant losses for investors, making it crucial to thoroughly understand the risks and potential rewards before investing in Stratis.

Investors should also be aware that Stratis is highly volatile, which means its price can fluctuate rapidly and unpredictably. This volatility can make it challenging to predict the coin's performance, increasing the risk of investment.

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Did Stratis raise funds?

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Stratis’s team

  • Chris Trew: Founder and CEO of Stratis, with limited experience in blockchain.
  • Policarpo Guerrero: Director of Operations.
  • Dan Gershony: Stratis Blockchain Developer.

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