Stratis is both a platform and a coin. As a platform, Stratis is a powerful blockchain development platform designed for organizations that want to develop, test, and deploy blockchain-based applications. Stratis is written in the powerful C# (pronounced C-sharp) programming language. The programming language is also used by organizations and businesses that want to develop on top of Stratis. C# is a broadly-adapted programming language used worldwide by businesses that are Microsoft-technology based, thereby making the programming language an ideal choice for business.
How Stratis Works
Stratis provides something called a private blockchain that’s separate from the main Stratis blockchain. This allows an organization or business to develop its own blockchain-based application without having to concern itself with the mail Stratis blockchain. It also allows organizations to develop, test, and deploy their applications without having to worry about in infrastructure needed to host and run those applications since Stratis provides all of the necessary infrastructure.
The advantage of using your own private blockchain instead of a blockchain like bitcoin’s are that transaction times are comparatively fast, and block sizes are customizable to the application’s needs. Moreover, an organization can define things like rate of inflation, controlled transactions so that only specific users can submit transactions, and extra space for metadata on each block – all of these things can be customized by an organization wanting its own custom blockchain.
Mining Stratis
Like bitcoin, there’s a limited supply of Stratis – 98 million coins. All of the coins were available for use shortly after launch in August 2016. As a result, Stratis cannot be mined yet there’s an alternative way to earn Stratis. Stratis is a 100% proof of stake token.
Staking Stratis
You stake Stratis coins by using their official Stratis Wallet Client. The process basically works like this: you buy some Stratis at an exchange, install and configure the Stratis Wallet Client, configure your wallet, and then stake your Stratis. A new Stratis block is derived about once per minute, resulting in 1 new Stratis, or about 1,440 Stratis per day. The Stratis are divided among the people staking their Stratis with more going to those that stake more. Since not all Stratis holders stake their Stratis, those that do stake see a rate of return of about 1.5% (and this will vary depending on the number of people staking their Stratis). This approach makes it possible to participate in the Stratis network without having to have any specialized computer hardware – all you need is the official Stratis Wallet Client.
Buying Stratis
You buy Stratis at an exchange – the following support Stratis (the letters in brackets indicate the currency pair you can trade):
- binance.com (STRAT/BTC)
- hitbtc.com (STRAT/UDST)
- livecoin.net (STRAT/USD)
- bittrex.com (STRAT/ETH)
- poloniex.com (STRAT/BTC)
- bittylicious.com (STRAT/GBP)
Stratis Wallet
Although you can store Stratis on an exchange, it’s recommended that you store Stratis in the official Stratis Wallet Client so that you can stake your Stratis. You download the Stratis Wallet Client here: https://stratisplatform.com/wallets/ – installation and configuration directions are available on the website.
Conclusion
This article described Stratis, how it’s different from bitcoin, how to stake Stratis, how to buy Stratis and the Stratis wallet.
