Nowadays, you will find most people talking about cryptocurrencies. Well, this was to be expected especially with the recent developments in the crypto world. Over the years, more and more cryptocurrencies are being introduced with each of them either bringing something totally new to the world or improving on the limitations of the predecessors. With all these new cryptos, it is easy to get mixed up on which one to go for as every crypto has something unique. You need not worry! I will give you well detailed information on one of new altcoins.
In this article therefore, we are going to discuss in detail the history of the Stratis cryptocurrency, its founders and some of its features. This is aimed at giving you a better understanding of it.
History of the Stratis Cryptocurrency
Stratis is described as a blockchain platform that simplifies tests, deployment and development of C# application on the dot NET framework. These helps companies and other businesses implement the use of blockchain systems in their daily activities and hence increasing the speed of the company.
The founders of this cryptocurrency envision a crypto that will be a one stop shop for every blockchain thing hence becoming a blockchain as a service (BAAS) platform. The team behind this cryptocurrency include:
Chris Tew – He is the founder of Stratis platform and currently the CEO. He is also an architect, consultant and technologist who has over 10 years of experience in the tech world.
Nicolas Dorier – is a Bitcoin enthusiast but started working with Tew because of the novel of this new platform. He was able to develop the Bitcoin core that was used to create Stratis in C# language in about 2 years.
Dan Gershony – is one of the developers of this coin. He has a good experience in the tech world and his skills come in handy in the development of new systems or repairs of the entire Stratis platform
Jeremy Bokoza – also another Stratis developer. He has experience in the dot NET tech.
Pieterjan Vanhoof – also another developer in the platform.
Understanding Stratis Cryptocurrency
Some of the steps in the platform include:
Develop – The Stratis platform allows users to develop blockchain apps that are in C# hence utilizing the Microsoft dot NET framework. The platform assists users by integrating blockchain solutions according to your business requirements and also defining their blockchain strategies.
Test – The platform allows users to quickly provision blockchain nodes which they can test in their applications. Additionally, it can also provision nodes for Bitshare, Bitcoin and Ethereum if a developer wants to have applications for already existing blockchains.
Deploy – After the above steps, the platform gives the developers a chance to deploy their application to the cloud without having to maintain full clients or a network by themselves. The development and implementation of the application can be monitored and tailored to specific need through the APIs or Lite clients.
The platform therefore simplifies the development, testing and deployment using C# and in turn acting like a BAAS platform for institutions and cooperations.
The Stratis platform was first launched in June 2016 which was also its first ICO. This was because the foundation needed funding which was going to help develop the crypto further. Over 900 Bitcoins were contributed and over 95 million coins were created during this time.
Stratis POS (Proof of Stake)
The Stratis platform uses a Proof of Stake algorithm which is a little different from Ethereum’s and Bitcoin’s Proof of work. Here the blockchain aims at achieving a distributed consensus.
Stratis Tokens (STRAT)
This is the official crypto coin in the Stratis network. The Strat is considered as the native token in the Stratis network. In 2016, the coin raised to $7.71 which was about 49,000% increase in just ten months.
This currency can be quite difficult to purchase using a fiat currency. However, you can also use other currencies to purchase this coin. You simply purchase a different cryptocurrency like Ether or Bitcoin, and then use a crypto exchange platform to change for Strat coin.
Wallets are online platforms through which you can store your cryptocurrency. Finding the right wallet is always an uphill task especially if you are new to the cryptocurrency world. Since Strat is still a relatively new crypto, finding the right wallet can be quite easy. Some of the wallets you can consider to use include;
Breeze wallet – well, this is still the future and is still not yet introduced. It will be able to support both the Stratis and Bitcoin cryptocurrencies. Additionally, it will be able to exchange any of the two cryptocurrencies seamlessly.
Ledger Nano S – as per now, only Nano is capable of supporting the Strat currency. This hardware is quite easy to use and secure enough that you won’t have to worry about your Strat coins. However, the Nano S can’t be used to stake the Strat.
Stratis Electrum wallet – this is the wallet for the Stratis cryptocurrency. It is a light weight wallet that happens to be an identical copy of the Bitcoin Electrum wallet. It was created by the Stratis tech team in the aim of providing its users with a wallet for the Strat coin. However, this wallet also doesn’t support staking of the Strat.
Stratis X Wallet – This is the official desktop wallet that was created by the Stratis tech team. This wallet can support all the features of this cryptocurrency. Additionally, it allows staking of the Stratis cryptocurrency.
In conclusion, I hope with the above descriptions, you now have a better understanding of the cryptocurrency. As you have seen, this cryptocurrency has undergone major developments since its launch and we are still expecting more from the tech team. If you are looking for a well-structured crypto with a well-equipped tech team, then this crypto is for you.