Stratis: Blockchain Token – What is it?

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Estimated reading time: 2 minutes, 36 seconds

Episode 22 of Blockchain Token – What is it? we cover Stratis. In this series, we will cover the different types of blockchain platforms and cryptocurrencies on the market right now.  We’ll give you a quick description of each blockchain/token, its function, who is their competition and where you can learn more.

Stratis is a development platform for organizations and financial services to develop, test, and deploy applications on the blockchain. They differentiate themselves from other development platforms by using a native C# (C-Sharp) coding language that easily integrates into the Microsoft .NET framework and is easier to maintain. They hope to bring companies and businesses “blockchain-as-a-service” (Baas); making it easier for these organizations to utilize technology without the need for concerns of all the infrastructure and security typically required to build your own blockchain system. They would not have to worry about maintaining the network or clients themselves.

Stratis is trying to make it simpler and easier to develop and deploy complex blockchain applications through using their platform that has common languages and frameworks for development.

With Stratis, business’ can develop their own customized, private blockchains or sidechains that do not need the typical infrastructure and overheads of running their own blockchain system. Stratis provides the infrastructure and basis for these business’ to develop on. This allows developers to build these systems while allieviating concerns over cost and security of creating an in-house blockchain network.

Stratis’ architecture follows that of Bitcoin, and their network is open source. Their network runs both Bitcoin core nodes, as well as the built in NStratis C# nodes. The Bitcoin Core node, trusted and proven to work, is intended to aid in speeding up development of their platform, while retaining the functionality during the development process.

Because Stratis will serve as an overarching blockchain network, any sidechains or private chains built on the platform will be compatible and easy to transfer between.

The Stratis token, $STRAT, serves ultimately as a technical value, as a type of fuel for the Stratis blockchain, and is used to run certain transactions or protocols on the network, as well as serving as their means of value transfer in their marketplace.

To sum it up, Stratis is a blockchain development platform, running it’s own blockchain, with the ability to develop on top of their platform and create your very own chains that are interoperable with the Stratis network.

Stratis has some competition that includes: Ethereum, Lisk, Ark, Ardor, Rise, and HyperLedger. Most of these platforms focus on sidechains and Blockchain-as-a-service, although Ethereum does not really offer this, there is some overlap.

For more info on Stratis, check out: https://stratisplatform.com/ and /r/stratisplatform/


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