Stratis 101: A step-by-step guide to STRAT | finder.com

Stratis: The first blockchain for businesses

We value our editorial independence, basing our comparison results, content and reviews on objective analysis without bias. But we may receive compensation when you click links on our site. Learn more about how we make money from our partners.

What is Stratis?

The first blockchain for businesses

What you need to know about Stratis (STRAT), an end-to-end platform for blockchain development.

The Stratis platform is an enterprise-grade development framework that makes it easy for companies to integrate blockchain technology into new or existing business models.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

What is Stratis?

Icon Symbol Initial release date Algorithm type Max. supply
STRAT August 9, 2016 SHA-256 No max

Stratis is primarily a software platform written in C# and .Net that’s designed to offer businesses an end-to-end solution for blockchain integration. Although interest in blockchain technology has grown across many major industries, the challenges of coding a custom blockchain have made some companies reluctant to adopt this new technology, particularly given the lack of experienced programmers in the field.

Stratis solves this problem by offering a secure blockchain infrastructure that companies can build on to suit their needs, rather than having to develop their own custom blockchains from scratch.

Some of its core features include:

  • Blockchain-as-a-Service (BaaS). Stratis wants to lead the way in terms of corporate adoption of blockchain technology. By employing a subscription model, the Stratis platform plans to offer businesses an easy-to-use blockchain solution for databases and cloud computing.
  • Cross-platform integration. The Stratis platform does not offer some of the features found in alternative blockchain frameworks, such as Ethereum’s method of handling smart contracts. Instead of building the same features directly into Stratis, the platform is built to be compatible with other blockchain frameworks, like Ethereum, so that customers can make use of multiple frameworks within the Stratis ecosystem.
  • Blockchain consultancy. Part of the Stratis business model extends beyond software development and into consulting services. Stratis offers expertise to businesses interested in learning how to implement and leverage the blockchain to improve their workflow, security and data management practices.

Private blockchains in Stratis

Stratis is designed primarily to meet the needs of corporations and major industries seeking to adopt blockchain technology. The Stratis platform serves as the main blockchain layer undergirding many different applications that are built on top of it. Companies can create their own private blockchains that are tailored to meet their specific needs, and have them work on top of the core Stratis blockchain. Even though they are all linked to the Stratis platform, private blockchains are secure and operate independently from one another.

Stratis vs. bitcoin

The Stratis platform includes its own cryptographic token, STRAT, which is used to handle transactions that take place on the Stratis blockchain. Both the larger platform and the Stratis token are actually based on bitcoin, with some modifications and additions such as implementing a proof-of-stake consensus model rather than the proof-of-work model used by bitcoin. As a cryptocurrency, the Stratis token is designed specifically for the Stratis platform, whereas bitcoin can be used anywhere vendors accept it.

Proof of work vs. proof of stake

One of the most revolutionary aspects of cryptocurrencies and blockchain technology, in general, is their decentralized power structure. Instead of every transaction having to flow through one centralized institution, like a bank, transactions happen on a direct peer-to-peer basis over the decentralized blockchain network.

To ensure valid transactions without the need for trust in a centralized institution, blockchain-based currencies typically rely on user participation to validate digital transactions and add them to the blockchain. A majority of users need to agree on the validity of a transaction before it can be verified. The method used to reach this kind of agreement is known as a “consensus algorithm”. There are a variety of different consensus algorithms out there, but two models generally dominate the space: proof of work and proof of stake. Both models require some form of sacrifice in order to participate and offer an incentive in the form of a reward for solving a block.

Proof of work (PoW). Bitcoin and other currencies that use mining to validate transactions use proof of work. Mining cryptocurrencies requires electricity, substantial computer power and often specialized equipment. By performing thousands of difficult mathematical calculations to “solve a block”, miners are doing the work in proof of work.

Proof of stake (PoS).The same general principles of decentralization and community participation apply to proof-of-stake consensus models. Instead of mining, which requires a massive amount of resources, PoS lets users stake some of their existing funds towards solving a block, much like placing a bet.

Where can I use Stratis as currency?

Stratis tokens, STRAT, are the primary unit of currency used within the Stratis platform. Transactions that happen on the Stratis blockchain use the Stratis token. Unlike bitcoin, which can be used as an alternative currency to buy a wide variety of goods and services, STRAT is designed specifically for use within the Stratis ecosystem.

Companies that develop applications on top of the Stratis platform can issue their own, in-house cryptographic tokens based on STRAT to handle transactions that happen within their particular blockchain environment.

Purchasing Stratis

The STRAT token is available on many popular cryptocurrency exchanges, including Poloniex, Bittrex and Bittylicious. Depending on your country of residence and exchange support, you may be able to purchase STRAT directly using fiat currency. In some cases, you may need to use bitcoin or another cryptocurrency to purchase STRAT.

Name Product Deposit methods Fiat Currencies Supported Cryptocurrencies
Cryptocurrency
BTC, XRP, USDT, ETH, NEB, XVG, TRX, NEBL, ETH, NEO, FUN, ETC, BCC, POE, DASH, ELF, ICX, BNB, ZRX, APPC & 80+ more
Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.
Cryptocurrency
Credit card
USD
BTC, BCH, MIOTA, XVG, NEO, ADA, XRP, TRX, ONT, ZIL, GAS, LTC, ZRX, QTUM, ETH, ETC, VET, ICX & 300+ more
CoinSwitch allows you to compare and convert over 250 cryptocurrencies across all exchanges.
Bittrex Digital Currency Exchange
Cryptocurrency
Wire transfer
USD
BTC, ETH, XVG, SC, XRP, DOGE, STRAT, XMR, ADA, OMG, ETC, BCC, XLM, DGB, UKG, QTUM, ZCL, RDD, LTC, NEO, XRP, TRX, ZEC & 120+ more
Buy from one of the largest cryptocurrency exchanges with a selection of over 190+ cryptocurrencies and 3 USD pairings.
Poloniex Digital Asset Exchange
Cryptocurrency
-
BTC, ETH, XRP, DOGE, XLM, ETC, STRAT, LTC, SC, DGB, BCH, LSK, XMR, LOOM, BAT & 50 more
Trade various coins through a global crypto to crypto exchange based in the US.
Credit card
Debit card
USD, EUR
BTC, BCH, ETH, XMR, ZEC, DASH, XRP, ETC, LTC, DOGE, XLM,1ST, ADX, AMP, ANT, BAT, BCN, BNT, BTG, CFI, CVC & 70+ more
Access competitive crypto-to-crypto exchange rates for more than 35 cryptocurrencies on this global exchange.
Cryptopia Cryptocurrency Exchange
Cryptocurrency
-
BTC, BCH, ETH, LTC, DOGE, NEO, XMR, POWR, DASH, PIVX, XEM, OMG, GNT, ZEN, NRG & 500+ more
Buy and sell hundreds of cryptocurrencies with minimal verification on this all-in-one, New Zealand-based exchange.

Compare up to 4 providers

What are the considerations before buying STRAT?

Stratis is an ongoing project that is under active development. While there are risks, such as notoriously volatile markets, when it comes to purchasing any cryptocurrency, the value of the Stratis token may increase as more companies adopt the platform. Speculators who believe the Stratis platform will achieve mainstream implementation may choose to buy STRAT.

What should I keep an eye out for?

  • Code base. As many platforms for blockchain development begin to emerge, the underlying code base may play a large role in user adoption. Stratis is developed in C# and .Net, programming languages that may be less widely used than those implemented by competing blockchain frameworks.
  • Private blockchains. A core function of Stratis is the ability for companies to create private blockchains. For many people, the radical potential of blockchain technology lies largely in the concepts of decentralization, transparency and non-reliance on third-party mediation. Private blockchains may effectively negate all of those features, operating more like traditional databases on closed intranets.
  • Under construction. Stratis is an exciting project backed by a dedicated team, but it’s important to be aware that much of the platform is still under development and has not yet been released.
  • Limited distribution. Potential buyers may notice that a significant number of the existing STRAT tokens are held by a relatively small pool of wallets compared to many other cryptocurrencies.

What’s next for Stratis?

While many facets of the Stratis platform are still in early stages, several upcoming releases are cited on the development roadmap. Some of the next steps for Stratis include:

  • Full node. Many of the core features of Stratis are still under development, including the full node for the enterprise platform. The team behind Stratis is working toward getting this code ready for production.
  • Breeze Wallet. Stratis is working to release the Breeze Wallet, a digital wallet designed on top of a security protocol that anonymizes cryptocurrency transactions.
  • Stratis Identity. Stratis is planning to release a proof-of-concept application in the near future. Stratis Identity is designed to give developers a toolkit for building blockchain-based applications for identity management and provenance.

Frequently asked questions

Image sources: Shutterstock, CoinMarketCap

Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Privacy and Cookies Policy and Terms of Use.
Go to site