Chief's Open-Source Overviews | Stratis

This Chief's Open-Source Overviews analyzes the major benefits and advantages of the open-source blockchain and cryptocurrency, Stratis (STRAT) with the goal of helping provide value to the community about this open-source blockchain platform.

Stratis is proof of stake (POS), blockchain as a service platform that helps businesses and organizations implement blockchain solutions.

It house public and private blockchain solutions using STRAT as the token on the platform.

Currently priced at $15.30, STRAT ranked #29 in terms of market capitalization of all cryptocurrencies and tokens.

This guide will explain five major reasons to pick STRAT out of all cryptocurrencies & blockchains:

Stratis is a blockchain platform that helps businesses and organizations implement blockchain based solutions.

It is one of the platforms aiming to be a Blockchain as a service (BAAS) for these businesses and organizations looking to improve their operations.

It is an improved version of Bitcoin's core code and uses the Microsoft.net framework and it's own Stratis framework and APIs to deliver a platform for which businesses and organizations can harness the power of blockchain technology.

If you look at the top 50 cryptos, you will notice quite a few are platforms.

Stratis being a platform that uses C# language and has a consulting firm (Stratis) helping businesses get into the BAAS platform are huge advantages to the Stratis platform.

It also is a smart contract platform just like Ethereum and EOS and a platform for ICOs. They just announced two ICOs are coming to Stratis here in Q1 of 2018.

In recap, Stratis is positioned as a BAAS platform, built on an improved version of the core Bitcoin code, has a consulting firm to help businesses get into its platform, and is a smart contract platform that can handle ICOs.

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As mentioned above, Stratis is a smart contract platform like Ethereum. However one huge advantage Stratis has over Ethereum is that it has side chains, where Ethereum does not.

All Ethereum's smart contracts are deployed on the main chain hence the backlog and its inability to scale.

And all ICOs and smart contracts are grouped together. Scammy ICOs and legit businesses all are tied into the main chain with Etheruem.

And this is a BIG problem. Corporations and businesses do not want their brand ruined because someone else on the chain was a scam or clogged up the network.

Stratis solves this problem and gets rid of that risk with its side chains.

Now each smart contract is its own sidechain that is unhindered by other projects on the network.

With Stratis' platform, you can have a public or private side chain to house an organization or businesses solutions. This allows Stratis to be able to custom tailor private side chains to the businesses or organizations wishes.

And it also solves the problem of businesses setting up pricey mining software. With Stratis being Proof-of-Stake, businesses and organizations can harness the STRAT token and the Stratis platform staking mechanism to solve this problem.

In recap, Stratis solves several problems that Ethereum has with its sidechains. It provides the ability for businesses and organizations to maintain their own side chain keeping all the benefits of a separate brand all while harnessing the efficiency and power of the Stratis main chain.

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Noticing that some businesses and organizations want or need upgraded privacy solutions for their business interactions, Stratis has been working on a protocol and wallet that helps Stratis maintain an heightened level of privacy.

This way businesses and organizations who use the Stratis platform can know that their customer lists, supplier lists, and transactions lists (among other aspects) can remain private.

This privacy feature is called the Breeze Wallet with Breeze Privacy Protocol.

The Breeze Wallet is a Bitcoin wallet that has a tumbling option (powered by Tumblebit) that adds an extra layer of privacy for individuals, businesses, and organizations who value not being able to trace and publicize certain attributes about their interaction on the blockchain.

Tumblebit is a trustless solution that basically shuffles and swaps the remnants of your tokens in a secure manner that makes the traces of your wallet activity "disappear" leaving less traces.

It is in its Beta phase right now and seems to be a distinguishing advantage to the cryptocurrency community with regards to Stratis.

In recap, besides offering private sidechains for businesses and organizations, Stratis offers extra layers of privacy with their platform and wallet. This gives businesses and organizations used to that set-up a blockchain solutions that maintains the same level of privacy they are used to. And this helps tremendously when transitioning businesses and organizations to a new solution.

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The Ledger Hardware wallet is the epitome of safe and secure storage of your cryptocurrencies. Your private keys are never exposed when your crypto is stored of the Ledger.

This is a huge benefit to individuals and especially businesses and organizations who have large holdings of crypto and want to store it safely and securely.

There are only so many cryptos supported by the Ledger Nano S and Stratis is one of those cryptos.

This is huge for Stratis which is a crypto and platform that acts as a BAAS for businesses and organizations. This is true because they require safe and secure storage of their assets at the request of their shareholders and normal business practices.

As a result, Stratis can serve as an all-in-one Blockchain as a service platform because it can offer the additional security that these larger businesses and corporations require.

In recap, Stratis is one of the few cryptos that have the additional security of a Ledger Hardware wallet which allows it to position itself as a full-service BAAS platform with the security necessary to onboard these large businesses and corporations.

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Besides the Stratis consulting firm that helps businesses and organizations get onto the Stratis platform, the way it is coded allows for more developers and programmers to be able to design solutions for the platform.

Instead of C++ like Bitcoin, Stratis's code is written in C Sharp which is an easier and more popular programming language among these enterprises.

This solves the problem that some platforms like Ethereum has in that designers and coders will not have to learn a new language in order to use the Stratis platform.

They can use the current language they are familiar with resulting in faster created solutions and increased implementation for these businesses and organizations.

Also since Stratis's platform is hosted by Microsoft, it makes providing solutions to businesses and organizations who want to use a .net framework quicker and easier. And not every platform has this capability. This only adds to the corporate appeal of Stratis's blockchain.

In recap, solutions on the Stratis platform are easy to implement for businesses and organizations because of the programming language and the hosting technique which Stratis uses. This only adds the corporate appeal of Stratis as a blockchain as a service.

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So why pick Stratis out of all the cryptocurrencies and blockchains?

It:

• is a platform, not just a token,
• deploys sidechains,
• has privacy,
• extremely secure, and
• easy to implement.

This concludes Chief's Open-Source Overviews of the the major benefits & advantages of Stratis.

Hope this provides value to yourself and please feel free to use this as a resource to help answer questions and bring awareness to the open-source Stratis.

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Series

Here are links to the other posts part of this series, Chief's Open-Source Overviews

• NEO | Open-Source Overviews
• PPY | Open-Source Overviews
• ARK | Open-Source Overviews
• STEEM | Open-Source Overviews
• Utopian.io | Open-Source Overviews
• Steemit Part #1 | Open-Source Overviews
• Steemit Part #2 | Open-Source Overviews

Sources:

• https://coinmarketcap.com/currencies/stratis/
• http://www.livebitcoinnews.com/first-two-icos-stratis-platform-will-launch-next-weeks/
• https://steemit.com/cryptocurrency/@blockchainttmft/what-is-stratis-and-why-did-it-rise-by-a-whopping-120
• https://medium.com/@nathan.burgess1/why-stratis-may-be-the-next-big-thing-4629c0038c73
• http://www.nasdaq.com/article/bitcoin-privacy-for-all-breeze-wallet-is-about-to-bring-tumblebit-to-life-cm759386
• https://stratisplatform.com/
• https://medium.com/@Stratisplatform/what-is-stratis-81c63be5d678
• https://stratisplatform.com/2017/09/20/breeze-wallet-with-breeze-privacy-protocol-dev-update/
• https://captainaltcoin.com/what-is-stratis/

Image Sources:

• Blog headers created by myself
• https://coincentral.com/stratis-beginner-guide/

Namaste

@chiefmappster

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Posted on Utopian.io - Rewarding Open Source Contributors

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