STRATIS REVIEW: Stratis Beginner’s Explained – STRAT
★ WEBSITE ➤ https://stratisplatform.com/
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What is Stratis?
Stratis is a blockchain development platform for enterprise businesses to easily create applications on specific, private blockchains. The Stratis API framework enables organizations to speed up their blockchain creation and simplify the development process involved with it.
Although the company is primarily targeting financial institutions, any business interested in incorporating blockchain can benefit from the project. They’ve even recently partnered with a seafood company, Earth Twine.
Stratis takes a more hands-on approach to implementation than other blockchain projects. Beyond building the platform, the team offers consulting services to businesses who may need guidance in working with their technology. They also work with clients in building out and hosting decentralized applications so they can fully understand their smart contract needs.
How does Stratis work?
Stratis isn’t a coin. It’s a Blockchain-as-a-Service (BaaS) platform that facilitates the development of blockchain-based applications. Using the Stratis lite clients, side chains, and robust APIs, you don’t have to support an entire blockchain network.
As a BaaS platform, Stratis hosts the blockchains running on the network through the cloud. There’s no need to maintain a full client node to access or work with your specific blockchain. This frees up resources for organizations who otherwise would have spent a significant amount of time and resources doing so.
Similar to Ark, Stratis focuses on ease-of-use through the implementation of a one-click blockchain deployer. You can quickly deploy a customizable sidechain with many out of the box features found in the main parent chain. An entire network is just one click away.
The one-click deployer expands further than the Stratis blockchain, though. You can also deploy a sidechain to other major platforms like Bitcoin, Ethereum, Lisk, and BitShares tapping into features that aren’t offered natively in-house.
Each blockchain that you deploy using Stratis is a private sidechain. Sidechains allow for customizability while still taking advantage of the secure infrastructure of the parent chain.
Additionally, you can make changes to your specific blockchain without affecting the other chains on the network.
Fiat gateway integration
The team is building the platform in such a way that businesses can transfer traditional currencies on the blockchain as well. Put simply, the platform will use a digital token equal to the traditional currency being transferred.
With this, organizations are able to remain compliant while still taking advantage of the new technology.
Stratis is built on a Bitcoin Full node platform using C#, Microsoft .NET, and the NBitcoin library. The team chose to use C# rather than C++, the primary language of Bitcoin Core, because it’s easier to maintain and more prevalent in business applications.
Stratis is comprised of three components that control separate layers of the blockchain node:
Stratis Bitcoin Full Node
Stratis Bitcoin Full Node interacts with the Interface Layer, Infrastructure Layer, and Node Policy Layer. The node is effectively in charge of the APIs, user interface, and rules for storing and verifying transactions.
LibConsensus is directly from Bitcoin Core and provides part of the code for the Consensus Layer to establish what’s considered a valid block.
NBitcoin fills in any remaining gaps of the Consensus Layer and also deals with the messages between nodes in the Network Layer.
Stratis Team & Competitors
The team is headquartered in the United Kingdom but has members spread across the world. Several people on their management team are well-versed in enterprise software development using .NET and C# – a positive sign considering those are the project’s two primary languages.
Stratis is an interesting Backend-as-a-Service platform facing stiff competition from other reputable projects. The company has a solid management team with deep knowledge of the underlying protocol architecture as well as multiple years of experience working with enterprise clients. The enterprise market is large enough that it’s feasible for several of these BaaS projects to succeed.
With one-click deployment support for other blockchains, organizations can take advantage of the features of unique features while still utilizing the Stratis development platform.
Beyond that, the Stratis team’s dedication to full support through their blockchain consultancy gives clients the help they need to flourish in this new and oftentimes confusing blockchain ecosystem.