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What is Stratis?

2018-12-19 | Stratis

STRAT is a cryptocurrency used on the Stratis platform. It is used as a medium for transactions within the platform and to create chains for corporate use. The Stratis team envisions offering blockchain as a service, which means blockchain solutions that can be easily accessed and implemented by companies while being supported through the expertise of the Stratis Group. Use of the platform by companies will take a subscription, which enables the Stratis Group to support their customers. Furthermore, they will offer consultancy services to develop blockchain applications for the needs of specific businesses.

The Stratis platform has been developed based on the Bitcoin protocol. However, in the case of Stratis the platform has been rewritten in C# and .Net, which many businesses and their in-house development teams are already familiar with. Because of this, introducing blockchain technologies to a business with the Stratis platform should give much less friction than some of the other alternatives that use less popular coding languages or even languages that are exclusive to a single blockchain platform. By using familiar languages and frameworks, Stratis hopes to bridge the gap between extremely specialised blockchain developers and businesses. With their consulting services and ongoing support of the platform users, Stratis takes a much more hands-on approach to the implementation of blockchain services in businesses compared to other development platforms.

The native currency STRAT is used to handle transactions on the Stratis blockchain. This is not intended as a currency to be used like Bitcoin, but rather as a means of transacting within the platform. Businesses that opt to use the Stratis platform, through sidechains, can create their own tokens based on STRAT. The platform also intends to enable the use of smart contract that will require STRAT to run.