[Why did Stratus explode? Explanation of Stratis from Tech and Cryptocurrency YouTube personalities]
Dear fellow Steemians,
As is common in the cryptocurrency space, people start to get curious about tokens once they have experienced huge growth. Why have they grown so much? What do they offer which other cryptocurrencies don’t offer?
UK-based blockchain startup Stratis is one of those which has experienced a phenomenal 120% growth over the past week.
While other coins have experienced even higher growth, not one of them is in the Top 100 list on CMC, meaning that Stratis has shown much more potential to be a viable project with a solid use case. There are certainly coins outside of the Top 100 which have great potential, but they are much more speculative than the ones within the Top 100, considering that the Top 100 represent over 90% of the cryptocurrency market.
Below I summarize explanations about what Stratis is from two of my favourite sources. Although there are many cryptocurrency YouTube personalities, two of the most unbiased and helpful ones I know are @ivanli and @boxmining, both of whom are also on Steemit. I strongly suggest you visit their channels to learn from them.
@Boxmining is great because his videos are relatively short and to the point, he gives information not just about the tech but also the potential use cases and he posts videos which are easy for the layman to understand. So let’s summarize what he has to say about Stratis:
- Stratis is “Blockchain for Dummies”. It caters to businesses who want to integrate blockchain technology but who do not have developers who are familiar with the complex programming languages of Bitcoin and Ethereum
- To that effect Stratis uses the C Sharp (C#) language which is much more ubiquitous and easier to use than the programming language Bitcoin uses which is C++
- Stratis is hosted by Microsoft which provides a turnkey solution to businesses wanting to use blockchain technology on the .net framework.
- Stratis is a great way for companies to experiment with blockchain technology with minimal expertise and resources
- Stratis is based on the Bitcoin protocol which provides reliability, scalability and decentralization. Bitcoin is based on c++ which is highly efficient but also complicated to program.
- One of the many use cases for Stratis is for video games whereby gamers can safely and securely store and trade weapons & objects in a decentralized manner while preventing the duplication of items and people exploiting the system. This is a booming industry. Stratis offers a solution which enables developers or users to learn the programming language required within just one week.
- The Stratis token is maintained through a primary blockchain but also allows you to build private in-house custom blockchains (sidechains). Businesses can set up sidechains which are secured by the primary chain
- Ethereum Enterprise Alliance (EEA) try to do something similar with the Ethereum network which makes use of smart contract which are useful but complicated to program. Note that Stratis however also makes use of smart contracts.
- Stratis allows for contracts to be facilitated using sidechains unlike Ethereum which clogs up the network by obliging people to use the main Ethereum blockchain
Watch the video for yourself and subscribe to his channel/follow him on Steemit to support him:
@ivanli who goes by the alias Ivan on Tech on YouTube goes deeper into the tech behind the project:
- Bitcoin is not just designed as a replacement to money, it is also a database which provides transparency and security and other aspects of blockchain
- Stratis offers tools and API’s to developers. An API is a tool you can use as a developer to help you solve your particular problem
- It is much harder to pitch using Solidity (EEA tries to do this) than it is to pitch using C# (Stratis) due to the much higher level of complexity of the language
- The Bitcoin protocol which Stratis is built on offers security and stability while the sidechain which businesses can create with Stratis offer the ability to choose parameters like block time and block size
- Stratis will take the Bitcoin protocol (blueprint) and develop a full node implemented in C# using the proven architecture of Bitcoin
- Programmer called Nicolas Dorier implemented a Bitcoin protocol in C#. Stratis is using it but with modifications. Stratis copied this client and now have two full nodes, the new modified one being called the Stratis full node.
- Bitcoin is made of 5 layers - Interface, network, node policy, infrastructure
- Some parts of the original version Nicolas created are so important that Stratis will not modify them, namely the consensus and network layer. Stratis however will tweak the interface, node policy and infrastructure layers to develop the functionalities that Stratis needs.
- Programmers often refer to a three-tier architecture: the client, application and the server
- Client consists of browsers/applications/desktops - what the user interacts with. E.g. When programmers develop an iOS app they can use Stratis’s API to communicate with the Stratis sidechain. Basically the client interacts and with the Stratis API via the internet.
- The applications are the libraries and frameworks programmers use.
- The server tier consists of a full Stratis blockchain node, the cloud Stratis hosting layer and the Stratis payment protocol
- Bitcoin has a huge problem, namely scalability. How will Stratis address this?
- Every private blockchain is configurable (e.g. they can choose their own block sizes and block times)
- Instead of using single ledger for every application, Stratis supplies a host chain from which financial business can deploy their own ledgers depending on specific requirements - offers versatility of extensive 2.0 platform, secured by host blockchain but tailored and administrated by the owning organization
- Stratis employs the Proof of Stake (POS) approach to consensus which aligns with interests of end users which doesn’t require specialist mining hardware
Follow him on Steemit and watch the full video here:
WHY DID STRATIS GROW SO MUCH?
I had some guesses as to why this might be but decided to make a post on Reddit to ask the question to others who potentially have more knowledge. Below are what I thought were the most likely reasons garnered from those posts
What do you think of Stratis? What are its potential limitations?
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