Stratum (STRAT) platform is a Blockchain-based platform which simplifies the development, deployment, and management of Blockchain applications and solutions. The platform allows the creation of distinct, private Blockchains which third parties can launch and customize them to their needs. The platform is a Blockchain-as-a-service (BAAS) platform that helps business and corporations to integrate the Blockchain technology in any use across various industries.
History of Stratis
Stratis platform is a Proof-of-Stake system that was first developed by Chris Trew in 2015. STRAT, which is the token of the platform, was released in August 2016 through an ICO which raised a total of $544,000 in Bitcoin.
How Does Stratis work?
The platform offers a clear functioning Blockchain for enterprises and corporations by simplifying the development of Blockchain applications in C# language. It’s a platform designed to serve businesses and organizations of all sizes in creation and writing of smart contracts on new unique sidechains. The Stratis coin is required on the Stratum platform in order to create and develop these Blockchains and sidechains. Various industries are developing the technology including medical, financial, and the manufacturing industries.
The platform allows a means of tracking through the supply chain of industries, providing a transparent database of records in medical research and solving major problems in the financial technology industry such as identity theft, clearance and settlement management, hence boosting the trust of their customers.
The Stratis token (STRAT) is a Proof-of-stake (PoS) coin, so it is not mined like Proof-of-Work (PoW) coins. So you can earn coins on the coins you already have by enabling your wallet for staking. You first have to own the token and send the token to your Stratis wallet, then enable your wallet for staking. You have to ensure you are connected to the internet during the staking period on the Stratis wallet.
Benefits of Stratis
Stratisplatform allows the creation of a new chain from the primary chain (sidechain) without affecting the primary one. Smart contracts written on this platform have a unique sidechain. This allows companies writing smart contracts to avoid the risk of losing money in case the primary chain is compromised.
Stratis is using Proof-of-stake protocol enabling holders of the token to earn more simply by holding the tokens. In this reward system, if you own 10% of the Stratistoken, you can mine 10% of the proof-of-stake block. This mitigates the problem associated with Bitcoin and other proof of work technology whereas more coins are mined, the transaction speed slows.
The coin had an opening price of $0.0138 during the initial coin offering with a total of 39,420,289 tokens sold. The total tokens that will ever be in circulation is 98,671,624 STRAT. In December 2017, the total market capitalization was over $1 Billion.