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Stratis (STRAX) is an enterprise-grade blockchain infrastructure and service provider. The firm supplies consulting services and technical support to businesses seeking to leverage the advantages of blockchain tech. The network is unique because it enables anyone to create private sidechains and leverage blockchain identification services.
What Problems Does Stratis Attempt to Fix?
Stratis was designed to rectify a variety of problems. For one, it reduces the cost and technical requirements for businesses seeking to integrate blockchain solutions into their current business systems. The system streamlines the onboarding process, so that everyone can benefit.
Lack of Network Participation
In the past, getting users to participate in network validation services required some skill. For one, there were costs associated with PoW networks in terms of mining rigs and technical barriers like setup. Thankfully, Stratic eliminates these concerns with its approach
The open and simplistic nature of the Stratis blockchain extends to validation services as well. Anyone can stake their tokens and run a full node to secure rewards. Staking is a great low-risk way to generate returns over time. When you stake your tokens, they are locked in a network smart contract for a predetermined time.
Another major concern for Stratis’ developers was congestion issues. Networks like Ethereum dominate the sector but suffer from high fees due to network congestion. Stratis introduces a PoS consensus mechanism that provides 60-second block times to improve performance.
Benefits of Stratis
There are a lot of benefits that Stratis offers the market. For one, the network streamlines the creation, deployment, and testing of Dapps. The platform drives corporate blockchain adoption by making the best aspects of the technology accessible to all.
Users can customize their side chains to meet specific needs. This flexibility enables the Stratis environment to serve nearly any purpose. Users can create completely independent sidechains that use their own consensus and governance mechanism. These networks can issue tokens as well.
To be success full in the DeFi sector you need to cater to the Ethereum community. Stratis recognized this fact early on. They made the entire protocol ERC-2o compatible which helps with developer onboarding. It enables creators to expand their Dapps to the Stratis network without reprogramming.
Stratis enables businesses to host crowdfunding events. The network supports ICOs (Initial Coin Offerings) and other launch methods. ICOs are a cost-effective way for startups to access funding internationally. There have been billions raised by ICOs since 2017. The protocol can also be set up to support security tokens.
Another unique feature of Stratis is that it supports cold staking. Cold-staking is a term used to describe staking tokens offline. This approach is more secure. It also reduces the overall carbon footprint of the network. Compared to Ethereum or Bitcoin, Stratis is much more sustainable in terms of electrical consumption required to remain valid.
How Does Stratis Work?
Stratis can provide high performance to the market due to its advanced blockchain. The Stratis blockchain is an open public network that provides blockchain-as-a-service (BAAS) in a trust-less manner. Here are some of the best features that make Stratis stand out against the competition.
It’s all about sidechains in the Stratis ecosystem. These independent networks can be customized to meet a huge variety of needs. These networks can also host private smart contracts, wallets, and more. Developers can create Dapps that run on the sidechains or the entire Stratis ecosystem, which is another major benefit.
There has been a push by enterprise clientele to leverage blockchain identification services to help cut down on cyber-attacks and identity theft. Blockchain identification services are faster and provide more insight. They are also more cost-effective which has helped drive adoption further.
The Stratis proof-of-identity application streamlines online identification. Users open an account and provide data to Stratis. Stratis then tokenized your identification. This token can be used to share your identity with other apps without sharing your information. This approach helps prevent future identity thefts due to data breaches.
The SkyDream Mall is a metaverse that was recently announced by the development team. This immersive 3d environment will leverage the full technical capabilities of Stratis to provide users with a powerful experience. News of Skydream Mall drove the Stratis token’s value up 200%.
STRAX is the main utility token for the network. This flexible digital asset originally entered the market under the name STRAT before changing the name in 2020. STRAX can be used to send value across the globe in a permissionless manner. It’s also a reward token and can be staked to secure passive returns on the network.
Another major upgrade planned for the coming weeks is the launch of the British pound stablecoin, Stratis GBP. Stablecoins derive value from third-party assets which enables them to avoid market volatility.
Stratis utilizes a Tindermint (PoS) consensus mechanism. PoS systems eliminate the use of miners and replace them with the average users. There are no special tools needed to stake your tokens and secure returns. Staking is a better option than trading for most people because there is no mystery in regard to your reward payout.
The staking calculator enables you to see exactly what your returns will be when your staking period ends. You can improve your returns by increasing the number of tokens you stake. In this way, staking takes the mystery out of securing crypto returns.
Stratis Blockchain Technologies, led by Chris Trew launched Stratis in 2016. The London-based firm officially established STAX in 2020 as part of its drive to support advanced DeFi functionalities. Today Stratis is a popular project in the market.
How to Buy Stratis (STRAX)
Currently, Stratis (STRAX) is available on the following exchanges.
Binance – Best for Australia, Canada, Singapore, UK and most of the world. USA residents are prohibited from purchasing most tokens. Use Discount Code: EE59L0QP for 10% cashback off all trading fees.
Gate.io – This exchange was established in 2013, and is one of the more popular & reputable exchanges. Gate.io currently accepts most international jurisdictions including Australia & the UK. USA & Canada residents are prohibited.
WazirX – This exchange is part of the Binance Group, which ensures a high standard of quality. It is the best exchange for residents of India.
Stratis – Enterprise Blockchain is a Great Place to Start
Stratis is part of the greater movement to service large enterprise clientele. The crypto market continues to make the pivot towards these large investment firms as part of its legitimization process. Protocols like Stratis help to bridge the decentralized and centralized economies in a way that is beneficial for the entire market.
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