What Is Stratis (STRAX)?

Introducing Stratis

Stratis (STRAX) is a blockchain development platform designed with the needs of businesses and developers who seek to develop blockchain solutions in mind. Stratis started as a Bitcoin-based project and has evolved into a comprehensive solution that simplifies blockchain development, offers privacy features, and supports smart contracts.

Origins of Stratis

Stratis was founded in 2016 by Chris Trew, a visionary in the blockchain space. The project's primary goal was to simplify blockchain development for businesses. To achieve this, the Stratis team created a versatile platform that combined blockchain with powerful tools and technologies, making it easier for enterprises to build decentralized applications (dApps) and blockchain solutions.

The project initially used the Bitcoin blockchain but later transitioned to its own blockchain in 2020, rebranding its native cryptocurrency to STRAX. This transition allowed Stratis to have greater control over its technology and tailor its features to meet the specific needs of its users.

Utility of $STRAX

Blockchain as a Service (BaaS): Stratis offers a robust Blockchain-as-a-Service platform that empowers businesses to develop, deploy, and manage their own customized blockchains without the complexities of building one from scratch. This BaaS model accelerates blockchain adoption in various industries, from finance to supply chain management.

Smart Contracts: Stratis supports smart contracts, enabling developers to create self-executing agreements that automate processes and reduce the need for intermediaries. These contracts are integral to various decentralized applications and provide a secure and tamper-resistant way to conduct transactions.

Privacy Features: Privacy is a crucial aspect of blockchain technology, and Stratis addresses this with its privacy features. The platform offers privacy-enhanced transactions, ensuring that sensitive information remains confidential while still being recorded on the blockchain.

Sidechains: Stratis introduces the concept of sidechains, which are separate blockchains connected to the main STRAX blockchain. These sidechains allow for scalability and customization, making it possible to develop specific solutions for various use cases without affecting the main network's performance.

Tokenization: Stratis can be used to tokenize assets, whether they are real estate, stocks, or any other type of property. This facilitates fractional ownership, liquidity, and easier transfer of assets on the blockchain.

Cross-Platform Compatibility: Stratis offers support for C# and .NET, making it accessible to a wide range of developers familiar with these languages. This ease of development attracts enterprises and developers looking to leverage blockchain technology.

Community and Ecosystem: Stratis has a vibrant community and a growing ecosystem of applications and services built on its blockchain. This demonstrates its potential for long-term growth and adoption.

Tokenomics of $STRAX

In 2016, Stratis introduced the STRAT token, which currently boasts a total supply of 98 million STRAT tokens in circulation. During the initial crowd sale, 84 million tokens, equivalent to 85.7% of the supply, were successfully sold. Stratis' ICO was remarkably successful, raising 915 Bitcoins, valued at around $600,000 USD at the time. The offering price for Stratis was $0.01 per token, and Microsoft played a significant role in supporting the fundraising efforts.

The remaining token supply was allocated as follows: 8 million tokens (8.2%) for the Stratis team, 2 million (2%) for advisors and partners, and 4 million (4.1%) reserved for bounties and campaigns. Stratis operates on a Proof-of-Stake (POS) algorithm, and the expected annual inflation rate ranges from 0.5% to 1%, contingent on the amount of staked holdings, with no new coins being mined.

At its inception, STRAT was established on a blockchain secured and maintained by a modified version of Bitcoin. As the blockchain industry evolved, Stratis proposed the development of a new blockchain, featuring the STRAX coin, an overhaul of data storage, and a Token Swap to facilitate platform expansion and the introduction of new features. The STRAX blockchain was designed to replace the existing StratisFullNode codebase.

The majority of STRAT holders expressed their support for this proposition, and in October, the platform executed a token swap at a 1:1 ratio. As part of this update, an additional 25 million STRAX tokens were created, slated to be issued over a five-year period. Of this supply, 8,125,000 tokens were allocated to the foundation, 6,375,000 for network incentivization, 5,500,000 for enterprise incentivization, and 5,000,000 went to the Stratis Decentralized Autonomous Organization (DAO).

$STRAX Price

On October 9th, STRAX experienced an impressive 85% price surge, setting a new record for the token. This remarkable price surge had cryptocurrency enthusiasts and investors alike curious about its origins and potential consequences. This concentration of trading activity raised eyebrows in the crypto community, sparking discussions about its impact on the token's value.

Adding to the intrigue was the revelation that a single wallet had managed to accumulate a staggering 1.8 million STRAX tokens within just 12 hours. This accumulation represented approximately 1.2% of the total STRAX supply, raising questions about the motivations and intentions behind such a significant move. Lookonchain data highlighted this substantial accumulation, fueling further curiosity about the factors driving the sudden price surge.

As we look back on the situation, the cryptocurrency market continues to watch and speculate on the developments surrounding STRAX. The motivations of the large wallet holder and the potential implications of this price surge remain topics of interest and discussion within the crypto community.

$STRAX Future Developments

Stratis plans to introduce a straightforward and efficient staking pool solution, making it easy for $STRAX token holders to stake and earn rewards for securing the network. The focus here is on simplicity, mirroring the user-friendly approach of the existing Stratis blockchain, ensuring that the chain can be secured with ease, even for individuals with limited technical skills. Additionally, Stratis will explore the possibility of Staking-as-a-Service to allow token holders to stake without the need to manage hardware.

In addition to their current Stratis solutions and ongoing developments, they will implement a bridge to connect the Ethereum Mainchain and other EVM-based blockchains. This bridge will enhance the interoperability of the $STRAT Token and StratisEVM blockchain, marking a significant step toward creating a versatile and interconnected platform, a much-needed feature in the space.

Disclaimer: This material is for information purposes only and does not constitute financial advice. Flipster makes no recommendations or guarantees in respect of any digital asset, product, or service. Trading digital assets and digital asset derivatives comes with significant risk of loss due to its high price volatility, and is not suitable for all investors.