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About Stratis
Founders and Background
- Founded in 2016 by Chris Trew
- Trew’s background: enterprise IT, self-taught C# programmer, 10 years in IT roles, operated internet marketing and SEO business
- Volunteer developer for Blitz and The Viral Exchange
What Makes Stratis Unique?
- Designed for financial service providers and enterprises to test, develop, and deploy blockchain-based applications
- Offers permissioned, private sidechains, decentralized applications, smart contracts, and privacy and identity verification tools
- Partnerships with Microsoft, International Data Corporation,
Introducing Stratis: A Pioneering Blockchain Solution
The Visionaries Behind Stratis: Meet the Founders
Stratis Group Ltd., the pioneering entity behind the Stratis platform, was established in 2016 by Chris Trew, a visionary entrepreneur. With a keen sense of industry gaps, he founded the company to develop a bespoke, enterprise-focused blockchain platform, which he perceived as a glaring omission in the market at the time. Trew opted to build the platform on the robust foundation of the Bitcoin (BTC) protocol, driven by his conviction that Bitcoin would emerge as a dominant force in the crypto sphere, thereby ensuring the continuous refinement of its codebase over time.
Prior to founding Stratis, Chris Trew’s professional background was rooted in enterprise information technology. Self-taught in the programming language C#, he accumulated a decade of experience in various IT roles, serving esteemed organizations across the legal, aviation, and public sectors, as well as prominent financial institutions like Barclays. Additionally, he successfully operated an internet marketing and search engine optimization business.
Within the crypto and blockchain industry, Trew distinguished himself as a volunteer developer for the innovative cryptocurrency project Blitz, as well as the pioneering social networking platform, The Viral Exchange.
Unveiling the Unparalleled Attributes of Stratis
According to its whitepaper, the Stratis BaaS platform is specifically designed to cater to the needs of financial service providers and enterprises, enabling them to test, develop, and deploy blockchain-based applications while mitigating the overhead and security concerns associated with operating their own networks. By offering businesses the opportunity to run permissioned, private sidechains that seamlessly interact with its primary chain, Stratis facilitates the hosting of decentralized applications, the launch of smart contracts, and the utilization of various privacy and identity verification tools. As outlined in its whitepaper, this approach empowers enterprises to fully customize their platforms, unencumbered by the limitations inherent in relying on a major blockchain, such as Bitcoin or Ethereum (ETH).
Stratis has forged strategic alliances with esteemed organizations, including software behemoth Microsoft, technology markets intelligence firm International Data Corporation, and pharmaceutical blockchain development company MediConnect, among others. Furthermore, the platform has sponsored professional athletes as a means of elevating brand awareness.
Marking a significant milestone, Stratis introduced its novel STRAX-based blockchain in November 2020, accompanied by a revamped development roadmap for the remainder of 2020 and the first half of 2021. This ambitious plan encompasses interoperability with Ethereum, an Internet of Things software development kit, a decentralized finance software library, the launch of a decentralized autonomous organization, and a plethora of other innovative features.
What Is the Circulating Supply of Stratis (STRAX) Coins?
Stratis introduced its inaugural STRAT token, boasting a total supply of 98 million, with a substantial 84 million STRAT (85.7%) allocated during an initial coin offering that concluded in July 2016, generating 915 BTC – equivalent to approximately $600,000 at the time. The remaining supply was distributed as follows: 8 million STRAT (8.2%) was reserved for the Stratis team, 2 million STRAT (2%) for advisors and partners, and 4 million STRAT (4.1%) for bounties and campaigns.
In October 2020, Stratis embarked on a token swap process, enabling STRAT holders to exchange their tokens for STRAX on a one-to-one basis. As part of this transition, a total of 25 million new STRAX tokens were minted, with allocations comprising 8.125 million reserved for the Stratis Foundation, 6.375 million designated for network incentivization, 5.5 million for enterprise incentivization, and 5 million for the Stratis DAO. These tokens will be issued incrementally over a five-year period.
New STRAX is introduced through a proof-of-stake mining process, wherein each block yields a block reward of 18 STRAX, resulting in an annual inflation rate of approximately 10%. The block reward is bifurcated, with half being awarded to the block producer, while the remaining half is allocated to its Cirrus sidechain, subsequently distributed to block-producing masternodes.
The Stratis Network’s Security Mechanisms: A Robust Defense
The Stratis network is fortified by its proof-of-stake (PoS) consensus protocol, wherein nodes must stake STRAX to participate in the block validation process. The likelihood of creating a block increases in proportion to the amount of STRAX staked. According to Stratis, this mechanism enhances the network’s security, as users with a significant stake are less inclined to compromise the network, lest they risk forfeiting their stake or witnessing its value plummet. A consensus among a majority of nodes is required to validate a transaction, thereby ensuring its inclusion in the blockchain.
With the debut of its STRAX-based blockchain in November 2020, Stratis unveiled a slew of innovative security-enhancing features, prominently featuring the ability to “cold-stake” – a mechanism that enables users to stake STRAX through an offline, cold wallet – thereby bolstering network security by facilitating broader participation in the consensus process. Furthermore, the activation of Segregated Witness (SegWit) was announced, which is poised to significantly enhance transaction security by rendering transaction IDs immutable.
Notwithstanding its private company status, Stratis’ blockchain codebase is open source, thereby rendering it accessible for community scrutiny and audit.
Acquiring Stratis (STRAX): A Comprehensive Guide to Exchanges and Marketplaces
STRAX is available for purchase on prominent exchanges, including Binance, Upbit, and Bithumb. It can be traded on spot markets, paired with a diverse range of assets, such as fiat currencies like the U.S. dollar and euro, cryptocurrencies like Bitcoin and Ether, as well as stablecoins like Tether (USDT) and Binance USD (BUSD).
Are you intrigued by the prospect of investing in STRAX or other prominent cryptocurrencies like Bitcoin? CoinMarketCap offers a straightforward, step-by-step guide, expertly designed to educate you on the intricacies of cryptocurrency and facilitate your inaugural purchase.
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Embark on a journey to demystify blockchain technology with Alexandria, CoinMarketCap’s comprehensive online educational platform, designed to illuminate the essentials of this innovative realm.
Remain abreast of the latest developments in enterprise blockchain adoption with insightful articles and expert analysis on the CoinMarketCap Blog.