Did Stratis Earn its Stripes?
Stratis is a relatively low-priced token hiding in the top 10 of CoinMarketCap. Will it keep investors' interest after becoming one of the most successful gainers following the ICO?
The Stratis ICO is about a year old, and it is high time to review the project's health. Recently, the coin's price doubled out of nowhere and briefly peaked above $10. Even before that, cryptocoin enthusiasts saw a great promise in the project and there are indications that interest is robust for Stratis.
What Stratis Does
Stratis aims to offer mainstream businesses an easy approach to deploying blockchain solutions. This is the main vision set in the White Paper:
"Stratis is a powerful and flexible blockchain Development Platform designed for the needs of real-world financial services businesses and other organisations that want to develop, test and deploy applications on the blockchain. Stratis blockchain apps can be developed in pure C# and can also utilize the Microsoft .NET framework, while also taking advantage of the powerful Stratis APIs and framework. Stratis significantly simplifies the development process for creating Blockchain applications and accelerates the development lifecycle for blockchain development projects." - Stratis White Paper
This makes the building of a blockchain much more accessible compared to other approaches, such as the Solidity language or a requirement of C++ for working with the Bitcoin blockchain.
Stratis has a primary blockchain but also allows users to build sidechains. Stratis is also popular in the gaming world, as a system for storing weapons or other in-game data. But it also promises to help banks and other financial organizations to easily fit with their current technological skill and approach. The option to use sidechains differentiates Stratis from Ethereum. In Ethereum, creators of distributed apps are forced to use the main chain, possibly clogging it. Stratis allows the building of sidechains and uses the token to pay for the computational power of the network.
The creation of sidechains would also generate new tokens. But those tokens may be pegged to Stratis and also use Proof of Stake consensus. The benefit of Stratis is to offer Blockchain-as-a-Service, allowing companies to deploy the solution faster by a simpler coin distribution, instead of going through an ICO. Stratis offers a ready-made service, making the user experience smoother, which is highly important in gaining trust and standing out from other projects.
The Stratis Community
Another positive feature related to a project or a token is the presence of a lively, dedicated community. Stratis has been able to attract many developers who already use the C# language and know the well-tested technologies related to it. The developers and educators call themselves the Stratis Army, and according to users, there is always someone available to give advice and troubleshoot.
Stratis is a project constantly improved with new ideas and additions for user-friendliness. A detailed roadmap for 2017 is in place, with tasks to be completed in each quarter.
"At Stratis we are dedicated to building and nurturing a global .Net and C# blockchain developer community." - Stratis Academy
The founder and CEO of Stratis, Chris Trew, is well-known and active in popularizing the project.
Stratis the Coin
Stratis started 2017 with a price of around $0.20. Like many other cryptocurrencies, its price started climbing sharply around April and May, reaching a short-term peak above $10 and a market capitalization above $1 billion. Since then, the price has halved, with other short-term spikes in interest which seem wholly speculative.
|Stratis Price (As of August 1 2017)||Market Capitalization||24-Hour Trading Volume|
|$5.00||$512.9 million||$9.5 million|
Stratis has had one of the biggest spikes in price since the ICO- with gains of up to 85,000% year-on-year for the earliest buyers. This would dwarf even the gains of Ethereum in 2017, as well as other dramatic spikes in cryptocoins. While some of the price gains are speculative, for others Stratis is a promising project that may be even more popular with developers than the Ethereum blockchain.
[caption id="attachment_253" align="alignnone" width="756"] source: coinmarketcap.com[/caption]
The Stratis project partners with many well-established cryptocurrency companies. Stratis is available for purchase at:
The Stratis ICO was launched in the summer of 2016 and completed around December last year. The token sales were available for a Bitcoin payment to a specialized escrow service.
The first announcement was made on June 14th on the BitcoinTalk forums, outlining the problems that the project aims to solve.
Stratis cannot be mined, and the network uses Proof of Stake, as consensus is reached by the influence of token-holders. The creator team held less than 15% of the tokens right after the ICO, to be used in marketing, incentives, partnerships and to support developers.
|Total Number of Tokens||Distributed to Community||Held by the Team|
|98 million||85.7% (84 million tokens)||14.3% (14 million tokens)|
Earlier investors who sent Bitcoin to the Stratis account received a larger distribution of tokens. The price of the tokens was set after the ICO, and Stratis traded around $0.01 in August 2016.
The Future of Stratis
Stratis seems a well-supported project with a robust developer base. There is still no clear data on which companies would start building solutions on Stratis. What is known is that Stratis blockchains are integrated with the Microsoft Azure cloud service, and this would allow a company to quickly build and deploy a distributed application. According to the company's press release, during the London Blockchain Expo, several large companies showed interest in cooperating with Stratis. But the project would need to get several corporate projects before really catching mainstream attention. According to experts, a price between $10 and $20 is a possibility. Stratis is most often compared to Ethereum, and there are speculations that its market price could spike suddenly, much as Ethereum moved from $8 to above $300.
The Stratis founders also sought new sources of funding beyond the token sale to further develop their Blockchain-as-a-Service and consultancy businesses. The Consensus 2017 is just one of the expos where Stratis is present and active. Based in London, the project indeed has access to the best names in the cryptocurrency industry and to mainstream business investors.