Quick Overview of the Stratis Blockchain
Stratis seems to be one of the more business focused Blockchains. They have taken a different route in that you can create Blockchain applications using C# and .Net. For the non-developers, C# and .Net are very mature technologies and have an extremely large audience. A Blockchain allowing the use of these tools will only help companies adopt Blockchains at a faster rate. Let’s dig into some details of the Stratis Blockchain.
The Stratis Wallet
The Stratis Wallet is currently available for Mac OS and Windows users. The most current Stratis Wallet can be found here. Once up and running, you should see a screen similar to this:
It is a very straight forward setup and should only take a few minutes. Please note that when you first run the Wallet it will need to Sync the Stratis Blockchain. The time it takes will vary depending on your computer and network connection. Don’t worry, it shouldn’t be days, maybe a couple of hours. After this initial sync, it will take seconds or minutes depending on how often you keep it connected.
One of the great features of this Wallet is that you can stake your STRAT tokens. This basically means you will receive STRAT tokens for staking your current STRAT tokens. The more you have staked, the more frequent your reward. This is by no means a get rich quick scheme, but if you plan on holding them for a while you may as well use them to get some extra.
Important Note!If you do not want to have to sync to the whole Blockchain, Stratis has the Electrum Stratis Wallet. The downside is you cannot stake with this wallet since you will not be Syncing with the Stratis Blockchain. The choice is yours! The Electrum Stratis Wallet can be found here: https://github.com/stratisproject/electrum-stratis/releases/tag/2.7.17
Overall, I think their Wallet is very well done. It reminds me of a normal bank account app, clean and easy to understand. Even if you have never used a Wallet before I strongly believe you could figure this one out very quickly.
If you want to partake in building Blockchain applications on Stratis, you will be using their nStratis Development Framework (SDF). This framework allows for development in C# and .Net as mentioned earlier. This is a smart move to help lessen the learning curve for developers who are new to Blockchains, but familiar with C# and .Net.
The choice to focus on tools related to the Microsoft ecosystem is a great one. It likely helped play a huge part in Microsoft integrating Stratis into their Azure BaaS Program. This should help overall adoption of Stratis as well since Microsoft carries a lot of weight when it comes to trust among bigger businesses. If Stratis went directly to a big institution they might struggle to get their foot in the door. Having Microsoft behind you though will probably make it much easier to get through that door.
What makes Stratis unique?
Stratis stands out because of their focus on using current development tools to build Blockchain Applications. Teaching someone about a new technology, and then requiring them to learn a new development framework/language can be a hurdle. Hurdles such as that make adoption of the technology a lot slower. It can also cause issues when trying to integrate into current systems.
While Proof-Of-Stake is used by other Blockchains, I think this still provides a unique edge for Stratis. There is a lot of debate on which types of ‘Proofs’ are the best to use, but staking seems to have a lot of positive backing. I believe typical users will appreciate being able to earn more STRAT tokens just by staking them. In a sense it is similar to earning interest on money you placed into a savings account.
Stratis will be releasing a ‘Stratis Academy Certification Program‘. The program aims to help developers prepare for Blockchain projects in different industries. It will provide training material, mentoring, and testing infrastructure. This is extremely important to help with adoption and I have not come across another Blockchain looking to implement a program like this. If you have please let me know in the comments section!
The Stratis Blockchain is headed in the right direction for success. I believe they have some niche offerings that should reward them greatly down the road. The focus on educating developers and businesses should allow Stratis to become a strong contender for being a top Blockchain platform. Want to read about another amazing Blockchain? Check out my post on Ethereum!
For discussion, have you had any experience with the Stratis platform? How do you think they stack up to the competition?