Stratis (STRAT) Project Introduces Masternodes for the Cirrus Sidechain
Staking 10K or 50K STRAT allows for a new layer of network security on the first sidechain attached to the Stratis network.
Stratis (STRAT), the proof-of-stake network, introduced new developments, adding two forms of masternodes. The so-called low-tier masternodes will support the Cirrus sidechain, a blockchain attached to the main Stratis network, where C# smart contracts would be deployed.
“The latest addition to Stratis Masternodes allows holders of the Stratis Token to operate as two different types nodes on the Cirrus sidechain. This, in turn, will result in operators obtaining fees for both transactions and smart contracts that execute on the chain,” the Stratis team announced.
The first type of node is a Cirrus Federated Masternode, allowing for block production and receiving fees from smart contract execution. This type of node requires 10,000 STRAT. There is also a Multi-Sig Masternode, requiring 50,000 STRAT, which allows for multi-sig access.
Initially, Stratis will only allow 101 Masternodes on the Cirrus sidechain. In the future, the number of nodes will vary, and entities may join and leave the network. The coins for the collateral will need to be held in a special wallet on the sidechain, for staking and block production.
The signup for a Masternode will start on March 6, when the Stratis project will open a preliminary signup for those interested in staking coins to produce blocks.
The Cirrus private chain will use proof-of-authority, as the nodes would be known and be able to produce blocks without heavy calculations. This would allow for node operators to rely on regular hardware, not requiring a special commitment beyond staking the coins.
Stratis aims to build sidechains both as a form of scaling, and as private blockchains for business. The project is unique for its usage of C# to create smart contracts.
STRAT market prices have picked up in the past weeks, increasing from recent lows of around $0.84, up to nearly $1. STRAT has been hurt by the bear market, and has been unable to get close to the peaks above $20. The project also sees relatively slim trading volumes, still awaiting a recovery as it has been excluded from the group of larger, very liquid altcoins.
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