Stratis is not just a Cryptocurrency
Stratis aims to bridge the gap between blockchain technology and commercial application by building a platform which allows for the development, testing and deployment of blockchain-based applications. Stratis does this by providing businesses with all of the tools required to build blockchain-based applications, without the need for businesses to spend large amounts of capital developing their own blockchain network infrastructure.
Blockchain as a Service (BaaS)
Think of the Stratis platform as a blockchain which comes with a toolbox. Businesses can use the toolbox to build their own custom blockchains (side-chains) which branch off from the main Stratis blockchain. These side-chains are secured by the main Stratis blockchain and are fuelled by STRAT; the currency native to the Stratis blockchain.
The inherent advantage to this model is that companies won't have to build and maintain their own blockchain network infrastructure, which requires a lot of resources and technical knowledge. Instead, they are essentially leveraging the Stratis blockchain by using STRAT as payment (or fuel). This can be compared to renting memory on a cloud based service such as Google Drive. Just like renting memory on a cloud based service, if businesses need to expand their blockchain services by creating more side-chains they simply need to rent more space. There is no need to buy expensive physical hardware for storage.
This is Blockchain as a Service.
Stratis Uses C# as it's native Programming Language
The applications built on the Stratis platform are written in C#. Using C# as their native programming language is a great advantage to Stratis as C# is adopted by the majority of developers in the corporate world which the Stratis team are targeting. By making C# their native programming language, Stratis is immediately making blockchain technology accessible to a large range of developers, especially in the business world.
Businesses looking to deploy blockchain-based applications could favour Stratis solely because they are familiar with the C# programming language. It is a lot more convenient to use a platform that implements C# than it is to hire a new team of developers who can write in another, less adopted language such as C++.
Consultancy Services
The Stratis team will also provide consultancy services to their customers, advising them of the best features suited to their blockchain needs and how to implement them. The Stratis team is dedicated to making blockchain technology accessible to the masses, consultancy services will act as a great catalyst to achieving this goal.
Proof of Stake (PoS)
Stratis uses the PoS model instead of the Proof of Work (PoW) model to distribute coins throughout the network and to secure the network. In the PoS model, users are rewarded for holding Stratis tokens (STRAT) in their wallet whilst being connected to the network. The more STRAT you hold, the greater the rewards. This process is known as staking.
Conclusion
It is evident that the Stratis platform has a lot to offer to the business world. Stratis makes the development, testing and deployment of blockchain-based applications easier through BaaS which is fuelled by the Stratis token. The use of the C# programming language makes it easier for developers to transition into the blockchain realm. Consultancy services allow businesses to make the most of the features offered by Stratis platform and the PoS model provides an incentive for users to contribute to the safety of the Stratis network. I will personally be keeping an eye on Stratis and I am excited to see how the platform develops!
Thank you for reading and please leave your thoughts down below!
References
- https://stratisplatform.com/2017/03/20/what-is-stratis/
- https://www.cryptocompare.com/coins/guides/what-is-stratis/
- https://themerkle.com/what-is-stratis/
Well told! I wasn't really good informed on Stratis till now, good job!
Thank you for your kind comments, I'm glad I could be of help!
thanks for the explanation!
I´m keeping an eye on stratis but atm I feel it a little high to start an invest.
What do you think?
I think this is a great time to invest, the market just crashed and the price of Stratis is still quite low. I see Stratis reaching £15 - £20 by the end of the year.
ok, thanks for your assessment.
I´ll definitively think about it.
Congratulations @curiousengineer! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honnor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPBy upvoting this notification, you can help all Steemit users. Learn how here!