What is Stratis (STRAX)?
Overview and Purpose
The realm of blockchain is no stranger to real-world applications.
It seems that just about every other day, you see some random use case pop up or some new kind of innovation that will take the industry forward.
Whether it be in the medical industry or the financial industry, you can be sure that blockchain can be integrated in some shape or form.
Within the cryptocurrency sector itself, while most of what you tend to see is usually geared around finance, there are a couple of solutions out there catering to some real-world applications.
But how many do you see that cater to developers themselves so that they can build what they want, address any real-world problem, and establish a niche for themselves?
Well, nearly every blockchain that you see has some kind of developer support or another, and that’s extremely important, though there’ll be an obvious difference as to the capabilities.
Having a large community of developers can be a sure-fire way to increase your blockchain’s adoption and its service lineup.
One such blockchain platform that is all about providing the right tools to developers, which we’ll be looking at here, is the Stratis Network.
Stratis is probably among the earliest of various blockchain development platforms.
Initially, it was a platform where developers could make their own private blockchain.
What Stratis wanted to do back then was have their platform be a premier blockchain-as-a-service (BaaS) geared towards organizations.
But since then, it has expanded its scope, and it now wants to create a bigger blockchain development network, one that can compete with the likes of Ethereum and NEO.
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Key Features
So, once again, Stratis is a BaaS platform that enables developers to create their own protected blockchain networks.
These protected, custom blockchains built with Stratis’ development framework function as sidechains.
So, what role would the Stratis chain play here? It simply offers those core security and operational mechanisms.
Think of something along the lines of Ethereum’s L2s (Layer 2) or Cosmos‘ “Internet of blockchains.” There will be obvious differences, no doubt, but the core aspects aren’t that dissimilar.
Stratis employs both the .NET development framework of Microsoft and C#, a popular programming language.
Through C#, blockchain developers may easily write any smart contract code they want on Stratis-based sidechains.
Because of how popular and widely used such technologies tend to be within the developmental world, Stratis can potentially open up opportunities for the broader adoption of blockchains by firms.
Stratis, as you might have guessed by now, is best known within the world of blockchain for its BaaS-centric sidechain development tools.
But, interestingly, it even functions as this blockchain consultancy business that provides firms with various other decentralized cloud-based services or products.
A lot of the time, such products employ the core network of Stratis but tend to be designed more for business clients who do not require or simply don’t prefer to release their own sidechain networks.
The Stratis blockchain has deployed several architectural features commonly associated with Bitcoin, such as the UTXO transactional model, which also happens to be among the two major account mechanisms utilized within modern blockchains.
The other one would be the account-based model that Ethereum has employed.
For UTXO, transactional security is probably its biggest strong point, and due to Stratis positioning itself for corporate usage, the security of blockchain transactions can be an extremely vital consideration.
But unlike Bitcoin, Stratis uses Proof-of-Stake (PoS) as its consensus or transaction validation mechanism.
This has the added benefit of being quicker and more energy-efficient when compared to the Proof-of-Work (PoW) mechanism that Bitcoin uses.
Not to mention that custom-made sidechains that are connected to Stratis aren’t locked to PoS validation.
For instance, there’s the Cirrus sidechain, which happens to be Stratis’ primary sidechain and was developed by its own team.
It utilizes the Proof-of-Authority (PoA) consensus mechanism.
Besides transactional validation, another key aspect of Stratis are full nodes, which serve as the primary pillars that maintain network operations and consensus.
On Stratis, a full network node can be written utilizing that .NET framework within C#, which is in line with Stratis focusing on supporting such technologies.
Full nodes can validate and process transactional blocks on the primary Stratis chain.
They might also be utilized within the block validation procedure on the sidechains that are connected to Stratis.
Stratis’ full nodes are known for their versatility, largely due to their support for three validation models, namely PoA, PoS, and PoW.
If it’s PoW validation that’s enabled on a full node, the node may even get to participate on Bitcoin’s blockchain, where they can mine blocks and play a role in securing its network.
How Does Stratis (STRAX) Work?
Blockchain-as-a-Service (BaaS)
As we stated earlier, Stratis describes itself as a BaaS platform, providing several products that enterprises and services may use.
But what does that really mean?
Well, it means supporting the deployment and development of smart contracts, private blockchain launches, operating full nodes, providing ICOs, and providing Proof-of-Identity applications; basically, most of the services it provides fall under that umbrella.
As far as scalability goes, it utilizes sidechains, so that transactional burden can be somewhat eased, and recently, the team announced a new L2 scaling solution that uses “cutting-edge ZK technology.”
Development and Deployment
As a developer, what you can be sure of is that you’ll have a lot to work with here, and creating things can be a straightforward endeavor with the technologies it supports.
The biggest representation of this would be the one-click deployment feature that Stratis offers.
Due to its ease of use, any developer can swiftly deploy their own customizable sidechain that has several out-of-the-box features associated with the parent chain.
Just imagine. A whole network is only a click away. But that one-click deployer isn’t just limited to Stratis.
You can even use it to deploy sidechains to other prominent platforms like Ethereum, Bitcoin, BitShares, and Lisk, all while being able to use features that aren’t natively provided.
Integration with Other Blockchains
Besides what we already went through earlier, there is an emphasis on cross-chain interoperability here, and that’s apparent.
But how is it achieved? With sidechains, of course! Sidechains are basically independent blockchains linked to Stratis.
They help facilitate the exchange of assets, value, and data between various networks, allowing for that much-sought-after interoperability.
So, by employing sidechains, developers may create decentralized applications capable of interacting with several blockchains, which may further expand the potential of building inventive and interconnected solutions.
Such interoperability can even open up possibilities for integration, collaboration, and using features or assets from various distinct blockchain ecosystems.
It allows Stratis to be incorporated with current blockchains or protocols, enhancing its own utility and flexibility in the process.
STRAX Tokenomics
Token Supply and Distribution
Like with any blockchain protocol, Stratis has its own native token that fuels its ecosystem.
Going by the ticker STRAX, the token has no maximum supply, which could make it an inflationary token.
As for its circulating supply and total supply, they’re both roughly the same, with over 1.9 billion tokens.
As for how much it’s worth, the price is currently around $0.08, and according to the chart, it is on a downward trajectory.
Utility and Incentives
Following its recent shift to StratisEVM, its previous STRAX token has now been replaced by a new one.
This new token may be used to make transactional fees and gas payments inside the network while enabling firms to run smart contracts and buy access to the numerous products or services that Stratis has to offer.
Token holders also have the ability to stake, which supports the governance and security of the network.
In exchange for doing that, they may earn rewards.
How to Acquire and Store STRAX
Purchasing STRAX
So, are you intrigued by Stratis and are looking to get some STRAX tokens?
Well, you can do that by heading over to exchanges like Binance, where you can engage with several buying options, provided you have registered on them and completed KYC, of course.
If you already have some other tokens with you, like USDT, then you can use that to just do a simple swap to get what you want.
Storage Solutions
But once you have those tokens with you, consider storing them somewhere safe, like a hardware wallet, for instance, which can store your funds offline, rendering them safe from the numerous threats lurking online.
Conclusion
Future Prospects
The corporate realm is now moving increasingly into the blockchain space.
In other words, blockchain adoption is looking to increase even more, and Stratis stands to benefit from this.
How? because of its incorporation of technologies that are known for being developer-friendly and its focus on interoperability and scalability.
Challenges and Considerations
However, like with any blockchain network you see nowadays, it’s not without its own set of problems.
For one, if you’re thinking of investing in its native token, then do know that it hasn’t been performing that well lately.
Then there’s the problem of regulation.
Every now and then, there’s always the chance that something could go wrong.
Cryptocurrency, it seems, still has a ways to go before that stops being a problem.
We Coin-Labs.com provides only objective information about Stratis (STRAX).
Therefore, we are not responsible for the investment decision in Stratis (STRAX) and the resulting loss.
Stratis (STRAX) Basics
Here are some factors that investors should consider before investing in Stratis (STRAX).
| Cryptocurrency Features | Stratis (STRAX) (STRAX) |
|---|---|
| Publisher or Developers | Stratis Group Ltd. |
| Headquarters (Registration Number) | |
| Symbol | STRAX |
| Platform | |
| Published Date (CMC Registration) | 2024-11-01 |
| Max Supply | No limit |
Reliability Score of Stratis (STRAX) in 2024
These are indexes mesuring the investment reliability of Stratis (STRAX) conducted by Coin-Labs.com.
| Investment Reliability Rating Items | Scores and Current Status |
|---|---|
| Company Activation Rate | / 10.0 CAR |
| Communication Rate | / 10.0 CR |
| Technology Transparency Rate | / 10.0 TTR |
| Development Participation Rate | / 10.0 DPR |
| Listing Status on the World's Top 10 Exchanges | Listed on 3 Exchanges |
| Number of Available Pairs Worldwide | 71 Pairs |
| Market Cap of the Cryptocurrency | 143,279,948 USD (Rank #280) |
The table above shows the result of investment suitability evaluation for Stratis (STRAX).
Check out how we evaluate cryptocurrencies on the crypto rating description page.
Stratis (STRAX) Price
Here are the price and recent trading volume of Stratis (STRAX). (Data of 2024-11-02 00:36:00)
| Price Items | Price and Trading Volume of Stratis (STRAX) |
|---|---|
| Stratis (STRAX) Price | 0.045 USD |
| Price Change 24h | -2.15% |
| Price Change 7d | -6.01% |
| Trading Volume 24h | 36,189 USD |
| Trading Volume Change 24h | -7.80% |
Cryptocurrency Metadata
You can check the development status and social media information of Stratis (STRAX) through the links in the table below.
| Metadata Source | URL |
|---|---|
| π Official Website | |
| π White Paper | |
| π°οΈ Source Code (GitHub) | |
| π¦ Twitter | |
| π€ Reddit | |
| πΊ Message Board |
Where to Buy Stratis (STRAX)
Here are the top ten world crypto exchanges where traders can buy Stratis (STRAX) in 2024.
| Top10 Exchanges | Listed Status | Page URL |
|---|---|---|
| Binance | Listed | https://www.binance.com/en/trade/STRAX_USDT |
| Coinbase | Not listed | |
| Kraken | Not listed | |
| KuCoin | Listed | https://www.kucoin.com/trade/STRAX-USDT |
| Bitfinex | Not listed | |
| OKX | Not listed | |
| Huobi | Not listed | |
| Bitstamp | Not listed | |
| Bybit | Not listed | |
| Gate.io | Listed | https://www.gate.io/trade/STRAX_USDT |
Frequently Asked Questions
What is the current price of Stratis (STRAX)?
Stratis (STRAX) price today is 0.045 USD. Furthermore, the price of Stratis (STRAX) has fluctuated by -2.15% from 24 hours ago, and by -6.01% from a week ago.
Where is Stratis (STRAX) listed?
Currently, it is listed on a total of 3 among the world top 10 exchanges.
What is the market cap of Stratis (STRAX) now?
Currently, Stratis (STRAX) has a market cap of 143,279,948 USD, which is ranking 280 among cryptocurrencies worldwide.
How much is the trade volume of Stratis (STRAX)?
Currently, 0 STRAX coins are circulating through 71 market pairs. As a result, in the last 24 hours, 36,189 USD of STRAX coins were traded in the market.
