Stratis: Blockchain-as-a-Service (BaaS)

On July 24th, 2017, Stratis was the 10th top cryptocurrency by market cap at USD $575,430,406, for the equivalent of 210,467 BTC or 2,561,512 ETH, with a circulating supply of 98,475,946 STRAT.

In continuing my series on cryptocurrencies, the next digital currency on the list by market cap is Stratis, coming in at #10 today. My understanding is that Stratis is special because it’s built with Microsoft in mind, but beyond that I know little else.

Could Stratis be an interesting play on an investment in Microsoft? With the #10 spot so hotly contested in recent months, can Stratis keep its recent gains? What specific function does this cryptocurrency have? Let’s dig into the data on Stratis…

“We Make Blockchain Easy For You”

  • Stratis is a flexible and powerful Blockchain Development Platform designed for the needs of real-world financial services businesses and other organizations that want to access the benefits of Blockchain technologies without the overheads inherent in running their own network infrastructure.
  • Stratis: “We offer simple and affordable end-to-end solutions for development, testing and deployment of native C# blockchain applications on the .Net framework.”
  • Stratis offers a turnkey solution that enables developers and businesses to develop, test, and deploy blockchain-based applications quickly and easily, and without the costs and security concerns that would otherwise arise from an in-house implementation.
  • The Stratis platform has been designed to serve enterprise and organizations of all sizes and it’s particularly suited for  those that run their services on the Windows /Microsoft environment.
  • “Being a company that specifically develops tools for the Microsoft ecosystem, it’s only natural that we integrate as tightly as possible with their platform offerings. This undoubtedly will provide greater visibility for our projects and serve to showcase the multiple functionalities that the Stratis Platform can offer.” -Chris Trew, CEO, Stratis
  • Stratis is a worldwide operating company, formed by a distributed team of business managers, developers, consultants, marketing and sales experts. Coordinated by a strong team of blockchain experts, “we combine a solid corporate structure for best business practices with the flexibility for rapid prototyping and deployment.”
  • Stratis is headquartered in the U.K. and incorporated as Stratis Group Ltd..
  • Stratis operates in Asia, Europe and the Americas.
  • The primary markets for Stratis are:
    • Poloniex: Recognized widely as the world’s largest exchange for alternative digital currencies, STRAT is trading as a BTC pairing.
    • Bittrex: “On the forefront of innovation and expansion, we are proud to have been added to Bittrex right after launch day.”
    • HitBTC
    • As a UK resident you can purchase STRAT on Bittylicious.
  • Stratis is not mineable.
  • Stratis: “From Fintech to Internet of Value and emerging technologies, our C# and .Net development, deployment and consulting capabilities can help streamline and accelerate your blockchain project development process.”
  • Stratis is designed with the integration of fiat gateways in mind from the outset. It allows financial organizations to use the blockchain for the transfer of existing currencies that are both readily accepted by mainstream consumers and are not subject to damaging volatility: tokens of value that are simply digital equivalents of regular money. This ‘best of both worlds’ approach means that businesses can maintain compliance in whatever way they see fit, according to jurisdiction and organisational policy, while simultaneously using the blockchain as a store of value – with all the advantages for speed, cost, transparency and stability of currency such a dual strategy allows.
  • Stratis Market Cap History: #VOLATILITY!
    • August 13, 2016: Stratis passed market cap USD $1,000,000.
    • October 28, 2016: Stratis passed market cap USD $5,000,000.
    • Nov 15, 2016: Stratis passed market cap USD $10,000,000.
    • April 02, 2017: Stratis passed market cap USD $20,000,000.
    • April 14, 2017: Stratis passed market cap USD $50,000,000.
    • May 04, 2017: Stratis passed market cap USD $100,000,000.
    • May 22, 2017: Stratis passed market cap USD $200,000,000.
    • May 31, 2017: Stratis passed market cap USD $500,000,000.
    • June 5, 2017: Stratis passed market cap USD $1,000,000,000.
    • Who bought Stratis on June 5th, 2017? Ouch! From a total value then at over USD $1bil, on July 12th, Stratis had a market cap of merely $292,008,000.
  • In Stratis, every private blockchain is configurable, meaning that an organization can choose how large blocks should be, reflecting their own needs for scalability.
  • Instead of using a single ledge for every application, Stratis comprises a host chain from which financial businesses can deploy their own ledgers.
  • Stratis is a Bitcoin C# implementation.
  • The Stratis whitepaper can be found here: https://stratisplatform.com//files/Stratis_Whitepaper.pdf
  • Stratis: “Our proprietary blockchain combines the latest advances in security and stability of Bitcoin with the latest breakthroughs in network speed, scalability and customization.”
  • Stratis private chains allow developers complete freedom to customize their implementation for their specific needs, while the underpinning “parent” blockchain is established enough to give users a high degree of confidence in its security.
  • The Stratis private chain can be accessed by straightforward APIs, meaning that stand-alone applications can rapidly be developed.
  • Stratis uses a three-tier architecture: Client, application, and server.
    • Tier #1: In the client tier, Browsers, Desktops, Mobiles, and IOT (Internet of Things) devices connect to the various services in the application tier. They receive blockchain data by querying the Stratis Chain API via HTTPS.
    • Tier #2: The application tier is composed of the Stratis Chain API, Cloud Stratis Management portal, Cloud Stratis API and Secure Payment Verification (SPV). The application tier handles blockchain requests and SPV proofs for lite clients that do not download the full blockchain. It also provides access to the Stratis Cloud management portal and API.
    • Tier #3: The servier tier consists of the Stratis full blockchain node, the Cloud Stratis hosting layer, and the Stratis payment protocol.
  • $STRAT is the fuel that powers and secures the Stratis blockchain. It is used to pay fees per transaction and as an instrument for transfer of value among participants in the Stratis marketplace.
  • $STRAT is a digital cryptographic token that is freely traded on open exchanges as one of the top cryptocurrencies by marketcap.
  • The Stratis blockchain is based on the Bitcoin consensus algorithm making it one of the most reliable and secure cryptographic tokens today.
  • What is the Stratis Academy? “Stratis Academy is the cornerstone of our aim to nurture a thriving global community for C# and .net developers and Solution Partners implementing Stratis blockchain solutions. We strive to provide an online and in-situ presence by organizing webinars, developer conferences or Slack meetups. From basic mentoring to certifications as Stratis Platform Developer, we help you develop expertise and recognition as a blockchain apps developer.”
  • The Stratis Academy Program is an IP technology and education program to help developers around the world prepare for high-in-demand blockchain projects from different industries. By providing training material, mentoring and testing infrastructure, we seek to introduce the basics and knowledge of modern blockchain technology, implementation, and best practices.
  • Stratis offers rapid, cost-effective blockchain solutions for the Enterprise.
  • The Stratis Group: “Pioneering a new way to run your business.”
  • The Stratis Development Platform allows businesses and organizations to develop blockchain applications in C# utilizing the Microsoft .NET Framework.
  • Info on Stratis wallets here: https://stratisplatform.com/wallets/
  • The Cloud Stratis platform allows developers to quickly provision full blockchain nodes to test their applications. The Cloud Stratis platform can also provision Blockchain nodes for Bitcoin, Ethereum and Bitshares, if the developer wants to develop an application specifically for one of these existing blockchains.
  • The Cloud Stratis platform allows businesses and organizations to test and deploy their bespoken blockchain-based applications in the cloud, without having to maintain the network or full clients themselves. The implementation of the blockchain can be tailored to their needs and accessed via lite clients or APIs.
  • 5 ways Stratis makes blockchain simple:
    • Development tools: Stratis Development Framework (SDF) and our full C# rewrite of Bitcoin’s protocol and consensus algorithm (nStratis)
    • Blockchain hosting environment: (Cloud Stratis)
    • An open-source cryptographic token: ($STRAT)
    • Development & integration services
    • Technical and Business support
  • STRAT is issued at a rate of 1 token per block – every 60 seconds. An incentive users receive when they secure our POS-based network by staking their coins.
  • The Stratis platform, combined with Azure, will allow corporations to rapidly deploy blockchain nodes to support their decentralized applications.
  • Stratis has deployed a template to run a Stratis Blockchain Node on Ubuntu VM: “We see this as a first step towards a deeper integration and partnership with Microsoft in the BaaS arena.”
  • Stratis use cases:
    • General Purpose Ledgers
    • Scientific Data Recording
    • Unity Platform Integration
    • Consensus and Governance
    • Immutability of Records
    • Medical Research: Transparency of scientific publications
    • Provenance: Product tracking and verification
    • Internet of Things (IOT): Data recording and management
    • Fintech: Identity management
  • Why use Stratis? 3 reasons:
    • Decentralization
    • Security
    • Scalability
  • A Proof-of-Stake (POS) cryptocurrency with limited emission and low inflation, STRAT is trading on reputable cryptocurrency exchanges and valued by investors worldwide.
  • Very few companies have experienced in-house Blockchain development resources standing by. By utilizing the Stratis Platform and Stratis consultancy, customers can focus on their business and leave the complexities of Blockchain development to the experts.
  • Stratis: Designed for Security, one-click deployment.
  • Stratis has moved to 100% Proof of Stake (POS) whereby Stratis holders secure the Blockchain by holding tokens in their wallets, allowing them to mature (no transactions in 24 hours), and leaving the wallets open. Investors who ’stake’ their tokens in such a way can earn Stratis in reward – a bit like earning interest on their holdings. POS is fairer for all and several thousand times more cost effective than POW: It doesn’t require any mining equipment so it isn’t subject to spiraling running costs and mining centralization.
  • Blockchain-as-a-Service: BaaS enables an off-the-peg approach to blockchain use, placing it within the reach of any organization.
  • BaaS allows developers to test and deploy their bespoke blockchain-based applications in the cloud, without having to maintain the network or full clients themselves.
  • Stratis offers decentralized app hosting: As well as offering the services integrated in its own blockchain, Stratis specializes in providing hosting and consultancy for decentralized applications (Dapps) on top of the Ethereum blockchain. This enables a complete off-the-peg approach to smart contracts.
  • Chris Trew on the question: Where Do you see Value in Stratis?
    • “Probably the most obvious answer is that it has Technical Value. By developing Stratis in C# .NET we are opening a door onto one of the largest development communities for business line apps. Stratis will bring blockchain development out into the open making it accessible to the wider developer community where hopefully, it will become a household name.
    • You don’t need to have any experience making blockchains to be able to get started.
    • Then of course, our lead Framework Developer, Nicolas Dorier, brings exceptional technical expertise to the project, having already put serious time and effort into the Nbitcoin protocol on which Stratis is built. NBitcoin replicates the security and consensus model of Bitcoin giving it value above and beyond other blockchain development platforms. It preserves the most valuable features of blockchain technology, its distributed, decentralised and immutable nature but still allowing for individual customization making it unique in its approach; we think the community will love what we are building.”
  • Chris Trew on Stratis’ value to prospective clients:
    • “We are providing a full tool kit for blockchain provisioning from start to finish. Businesses will be able to work in-house to deploy blockchain apps – utilizing their own development resources and their existing business infrastructure. This means big savings for them.
    • Stratis also gives them the ability to easily tailor a blockchain to their specific needs whether public or private, and issue their own tokens and assets classes secured by our robust technology.
    • Businesses should save further time and money from Stratis’ lite client that is online, worldwide, 24/7 and it doesn’t require heavy computer resources.
    • Prospective clients should also know that we have a consultancy arm to support them and providing training to in-house developers so that they can seamlessly integrate into this new technology and get the most from it.”
  • The Stratis Bitcoin Full node (NStratisis developed on top of the NBitcoin library, a near-complete port of Bitcoin Core written in C# and .NET by Nicolas Dorier.
  • NStratis is an innovative C# fully validating node configured to Stratis’s own needs.
  • The Stratis Platform and all its components are built upon NStratis.

“Stratus’ greatest value is in putting Blockchain into the hands of regular developers. In so doing it enables more people to apply blockchain to their specific problems, bringing use cases forward more quickly and accelerating blockchain’s full potential to society.”

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