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Stratis is one of several blockchain-as-a-service projects (BaaS), and initially focused on company logistics. In the two years in which it was developed, the purpose of the project has expanded significantly and, as we head towards the end of 2018, Stratis is a real development network competing with NEO and Ethereum.
While Ethereum was the first blockchain network to use smart contracts, Stratis could have an edge over the first Ethereum engine. This advantage depends on the programming language used by each project. Where Ethereum uses the proprietary Solidity language, Stratis uses the well-known C # for the Microsoft .NET framework. This means that there are already millions of developers who can program on Stratis.
Stratis quickly moved to reach Ethereum. They were able to launch an alpha version of smart contracts in May and an alpha version of sidechain support the following month. This was enough to put Stratis on a par with the major networks of smart contracts.
Since Stratis uses C #, it is actually a preferred solution for many established companies. These old technology companies on guard may not have blockchain programmers, but they have an excess of programmers who are familiar with C # and the .NET framework. It is almost certain that they would choose this solution rather than having to learn Solidity. In fact, in October 2018 Stratis announced that they had become Microsoft Silver partners.
Stratis said that by the end of 2018 they will have production versions for their full-node, side-chain and smart contracts. There are other features that will be released before the end of 2018, and once these production releases are live, the old guard companies will have a platform that will allow them to easily build their own private blockchain solutions securely on a Stratis side chain.
With Stratis's production capabilities so close to release, let's take a look at the technology behind this project, as well as the STRAT cryptocurrency that provides gas for the network.
Stratis Review: What is Stratis?
Stratis has been designed as a stand-alone blockchain with a C # development toolbox to allow others to create their own chains that benefit from the security of Statris's core chain. This will allow existing companies to take advantage of blockchain technology in a secure way without the need to spend too much money to hire new blockchain developers or to migrate existing software onto a new platform.
At the basic level, Stratis is a corporate version of Bitcoin. However, it improves on Bitcoin by being faster, more scalable and moving away from the Proof-of-Work, a resource-intensive consensus mechanism. And then it gets even better by adding smart contracts, decentralized applications and side chains.
Stratis has also brought blockchain to all legacy programmers, since it is built in C #. This makes the development of the blockchain easily accessible to over 6 million C # programmers.
In addition, Statis has its own consulting services and a Stratis Academy that allows developers and organizations to gain a deeper understanding of how they can build on the Stratis platform. Stratis leaves these companies that may not know where to start with blockchain to start well.
Stratis Review: The STRAT Coin
Stratis has chosen to use Proof-of-Stake as a consensus mechanism and has a native currency that uses the STRAT ticker. As PoS currency there is no need for expensive hardware to extract the currency, and there is an enormous drainage of our resources. It is a low-inflation cryptocurrency and users can generate rewards through the execution of a masternode.
A masternode requires a participation of 250,000 STRAT, and from November 25, 2018 is worth $ 179.337 for the price of a coin of $ 0.717348. Obviously this is not for most of us, but Stratis has advanced the notion of creating lower-level nodes with smaller stake requirements.
STRAT is primarily a utility token as it is used to provide gas for the network. Obviously it is also used by some as a speculative investment, and is quoted on a dozen different exchanges. The largest trading volume is on Binance, followed by Bittrex and Bithumb.
The $ 0.717348 price of 25 November 2018 gives STRAT a market capitalization of just over $ 71 million and makes it the 58th most valuable currency listed on Coinmarketcap.com. Stratis reached its all-time high of $ 21.21 on January 8, 2018 and steadily declined in 2018.
Stratis had its ICO until June / July 2016 and was one of the first successful ICOs.
Stratis fought in 2018
One of Stratis's biggest moves in 2018 was the launch of an ICO platform in May, just as the bear market returned after a brief April break. While this seems that Stratis's leadership may be a bit out of reality, on the whole it remains a strong project.
The fall in the price of the STRAT currency can be attributed to the bear market in cryptocurrency in 2018, and even at the price of $ 0.717348 the currency has increased by more than 10,000% from its ICO price of $ 0.007 just over two years ago. This is a nice two year return.
Stratis has been included in the Microsoft Azure marketplace at the beginning of 2018 and in October 2018 it became a Microsoft Silver Partner, which promises even faster growth for the platform.
Stratis has moved quite slowly however, when compared to other similar projects. Many have captured and overcome Stratis, although the project is catching up now that production nodes, side chains and smart contracts are almost ready.
Stratis has had an initial advantage, but the initial enthusiasm for the project has not been transformed into a large amount of early adoption. The partnership with Microsoft is huge, but there have not been any other great partnerships for Stratis. Perhaps this will change now that Stratis is a certified official silver partner.
Stratis Review: Conclusion
Because the first successful ICO Stratis has had a good start, and the project remains solid today, but has not been able to take advantage of its early successes and may have been predicted.
Its strong technology and partnership with Microsoft are both excellent factors, but the project has not yet seen a large amount of adoption. We hope that the launch of production nodes, side chains and smart contracts will increase its growth curve.
Although the STRAT token has been damaged by the cryptocurrency bear market in 2018, it remains above 10,000% from its ICO price, and is extremely impressive. Without a doubt, the first investors are quite happy with their earnings.
The launch of an ICO platform during a cryptocurrency bear market may not seem like the best idea, but if you look deeper you will see that the ICO has raised more than $ 22 billion in 2018, which is about four times the total ICO of 2017.
The use of C # to create a corporate blockchain solution may not seem like an exciting use of the new technology, but this is just the basic type of use that could end up dominating the business landscape. Once a production product is ready, Stratis could see a long line of legacy technology companies lined up to use their C # based blockchain technology.
There is much promise in Stratis, but it remains to be seen whether this will translate into concrete results.
Stratis
Rating:
3.5
– Review of
Steve Walters.
