Stratis Cryptocurrency (STRAT) Everything You Need To Know

Stratis Cryptocurrency

New millionaires and billionaires are being made every day from cryptocurrencies.

But while there are winners, there are losers, too. Nowadays, everyone is talking about cryptocurrency investments.

But questions remains the same:

  • Which currency should we invest in?
  • What are the best new crypto-coins in town?
  • Where do we store such coins?

Here at CoinSutra, we provide you with detailed information on popular cryptocurrencies. So that you remain better informed about them and can make the best decisions to use them or also to invest in them or not.

Well, one such cryptocurrency which has quietly risen to the top ten list of cryptocurrencies by market cap is Stratis. (STRAT) (Stratis rose to a market cap of $1 billion back on 5th June 2017.)

What is Stratis Cryptocurrency?

What is Stratis

Stratis is a blockchain-based platform which simplifies the development, testing, and deployment of C# applications on the dot NET framework. Stratis will act like a blockchain-as-a-service (BAAS) platform for corporations and institutions. It will help these businesses to implement blockchain technology for various use cases across industries very quickly.

The vision of the Stratis platform is to become a one-stop shop for all blockchain things, mostly becoming a blockchain-as-a-service (BAAS) platform.

Technology-wise, it is a clone of Bitcoin’s core code, with a few enhanced features and written in C# language instead of C++.

But what if you don’t know what any of this means?

Don’t worry; you can still invest in Stratis. I am just telling you these facts to convey why it is such robust technology.

Also, it has sidechains and segwit support meaning, it can incorporate most of the proposals that were initially given for Bitcoin scaling.

Moreover, being a proof of stake cryptocurrency usually opens new ways of earning for investors in the form of staking and masternodes. And yes, Startis too has them, about which I am going to explain further in this article.

What is the Stratis Token (aka STRAT)?

STRAT is the native token (or cryptocurrency) which runs the Stratis platform.

In July 2016, there was an ICO-Initial Coin Offering of STRAT to fund the development and marketing of the Stratis platform.

In this ICO, the Stratis project was able to raise an equivalent of 915 bitcoins (worth $675K).

A total of 98 million STRAT tokens were distributed after the ICO.

Stratis rose from its price of August 2016 which was ($0.023) to today’s price of $0.32.

It has become one of the few currencies to be adopted and implemented very quickly by numerous recognized cryptocurrencies exchanges and wallets such as Poloniex, Jaxx, and Ledger hardware wallets.

Team Behind Stratis

  1. Chris Trew is the CEO and the founder of Stratis. He is a consultant, architect, and technologist with over ten years of experience in enterprise IT.
  2. Nicolas Dorier is a Bitcoin lover at heart but started with Chris on Stratis because of its novel idea. He single-handedly developed the Bitcoin core for Stratis in C# language in just two years.
  3. Dan Gershony is a Stratis blockchain developer. He has over ten years of development experience on the MS stack, mainly in C# dot NET.
  4. Jeremy Bokobza is a Stratis blockchain developer. He is a software developer with a thorough and extensive knowledge of dot NET technologies and architecture, as well as C# development.
  5. Pieterjan Vanhoof is a Stratis blockchain developer. He has extensive experience as a full-stack dot NET developer.

Total Fixed Supply of Stratis

A total of 98 million STRAT tokens were distributed after the ICO, and this is the fixed supply that will ever be available.

Here is what the final breakup looks like:

ICO (85.7 %)84 Million Stratis tokens were allocated to ICO investors
Stratis Team 8 Million Stratis tokens were allocated
Advisors and Partners2 Million Stratis tokens were allocated
Bounties & Marketing Campaigns4 Million Stratis tokens were allocated
Total98 Million Stratis tokens

And of course, as it is  POS currency, new startis tokens will be minted by those who are staking Stratis tokens. (The rate of inflation is 0.5%-1% per annum )

Market Cap of Stratis

As per CoinMarketCap, 99,545,740 STRAT are in circulation, and the current price of each unit is $0.32, which brings its market cap to $32 million.

What is Staking of Stratis Tokens?

Staking is like earning interest or dividends on your holdings. It is 0.5-1% per annum returns on your “staked” amount. Staking helps to secure the Stratis network.

By staking your Stratis tokens you will periodically generate new STRAT tokens as a reward for staking them on a POS blockchain.

So if you have Stratis tokens then use this stratis staking calculator to find out approximately how much tokens you will receive monthly.

How to Buy Stratis Cryptocurrency?

Buy Stratis from Changelly

Buying Stratis directly in fiat currency is a little difficult. But you can exchange your other coins, such as BTC, LTC, or ETH in exchange for STRAT tokens. The procedure is very simple.

You will require the following things to buy Stratis:

  1. Your Stratis address where you would like to get your STRAT tokens.
  2. Some bitcoins/altcoins to exchange for STRAT.

Head toward  Changelly and follow the steps given in this guide.

Note: Though this guide shows how to buy Ripple in exchange for BTC, the process is exactly the same to buy Stratis. 

Buy Stratis from Exchanges

Below is a list of established cryptocurrency exchanges listing Stratis:

Stratis Wallet Options

Stratis a relatively new cryptocurrency which is why it doesn’t have many wallet options available. But to support early adopters, there are a few good options out there for storing it.

After a lot of research, these wallets are the best:

Ledger Nano S

Ledger Nano S
Ledger Nano S

Currently, only the Ledger Nano S hardware wallet supports Stratis storage. The Nano S is simple to use. It can’t be used for staking Stratis, but it will keep your tokens safe. Currently, with the Ledger Nano S, you can secure Stratis, Bitcoin, Ethereum, Litecoin, Dogecoin, Zcash, Ripple, and Dash. Monero is also coming soon.

You can buy Stratis from anywhere and then transfer it to your Ledger address.

This is the safest way to keep your Stratis tokens secure.

StratisX Wallet

This is the official desktop wallet by the Stratis development team. It has all the features to use Stratis safely, and also allows for the staking of Stratis tokens. This is a lightweight wallet which doesn’t download a full blockchain.

Stratis Electrum Wallet

This is an official copy of the Bitcoin Electrum wallet by the Stratis team. It is also a lightweight desktop wallet which doesn’t download the blockchain. It is easy to set up and use in everyday transactions. But it doesn’t support staking of Stratis tokens. It is available on Linux, Windows, and Mac operating systems.

Breeze Wallet

Breeze is the most awaited wallet by Stratis lovers. It is a future wallet which will support Bitcoin and Stratis and will provide seamless exchanges between the two cryptocurrencies. Also, it has Tumbelbit integrated into it which means transactions through breeze wallet nodes will be anonymous. An initial version of the Breeze wallet will not support staking of tokens.

Currently, the beta version of Breeze wallet is available on the testnet.

The Breeze Wallet will be out in a month or two. I will keep you all updated about it.

How Stratis will be used in the real world

Some of the benefits of the Stratis blockchain which will impact the real world are as follows:-

  • Medical Research: Stratis blockchain will enable medical science to solve its publication and research disputes by providing an immutable database of record. Here the reviewer, researcher, and publisher can work with worrying about the legitimacy of the record.
  • Internet of Things: Industry verticles like supply chain, transportation, inventory, and occupation can be impacted by Stratis, bringing everything on the blockchain which is updated by internet consensus in real time. For example, a smart lock enabled by Stratis platform will let you access a fully automated AirBnB residence without any dispute or human interaction.
  • Provenance: It means product verification and tracking. As manufacturing has matured, it has also led to counterfeiting and forgery of original products. But once such products are put on the Stratis blockchain for tracking and identification this problem will solve. For example, see Diamond verification on Everledger.
  • Fintech: In the Fintech space the sky is the limit for Stratis. In this area, Stratis intends to solve problems like trusting Escrows, Identity Theft, Identity Management, clearance and settlement management or KYC compliances with losing the confidence of the customer by leveraging blockchain technology.
  • Stratis Identity: Stratis Identity app can be used for efficient blockchain based identity management and reduce a lot of redundant work from the ground up. It can be used by companies for background verification or by services that require KYC compliances and every time in this usecase the user will be in charge of their data. See here their official usecase description.

Some of these exciting use cases are already in production while some are still being developed.

Stratis vs. Ethereum

Both Stratis and Ethereum support smart contracts. But there is a fundamental problem on Ethereum. Ethereum smart contracts are written in Solidity which is its native language, whereas, on Stratis, the contracts are written in C# language- the common language of the developer community.

Writing smart contracts on Ethereum means a developer needs to learn Solidity first, which has a learning curve.

Moreover, Stratis supports contracts and other blockchain innovations on its sidechains, unlike Ethereum where every contract runs off of the Ethereum blockchain.

But both projects have gotten fair words of praise from the market, and companies like Microsoft support both of them.

Roadmap and Future of Stratis

By observing the present scenario and the development roadmap of Stratis, it looks highly undervalued as it has climbed the ladder of cryptocurrencies.

In the coming days, it will be promising to see how Stratis’s Breeze Wallet performs on the main net.

Here is the roadmap for 2018:

My goal is top three market cap. I see anything else as a failure, so the future looks bright.

– Chris Trew, CEO Stratis

The Stratis Cryptocurrency

Now, at last, the million dollar question:

  •  Should you invest in Stratis?

Well, the answer lies in your objectives and risk appetite.

It is a relatively new cryptocurrency, but it does seem promising.

I hope this detailed analysis helps you in making a good decision. Share that decision with us in the comments below!

If you liked the post, don’t forget to share it with your friends and family on social media! 

Official Stratis Resources:

Below are some links that will keep you updated about Stratis:

Like Stratis, I have covered in depth guide about many popular cryptocurrencies. You can read about them by clicking the link below:

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Howdy, Welcome to the popular cryptocurrency blog CoinSutra. Here at CoinSutra, we write about Bitcoin, wallet management, online security, making money from Bitcoin & various aspects of cryptocurrencies. You can read more about CoinSutra on the “About” page.
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