Stratis

What is Stratis (STRAX)?

Stratis (STRAX) is a blockchain platform designed specifically to facilitate the development, testing, and deployment of enterprise-grade blockchain applications. Launched initially as STRAT in 2016, the project rebranded and migrated to its own native blockchain called Stratis with the STRAX token in 2020. As a versatile blockchain platform, Stratis enables businesses to implement blockchain solutions without the extensive technical knowledge typically required for blockchain development.

How Does Stratis (STRAX) Work?

The Stratis (STRAX) platform operates on a Proof-of-Stake consensus mechanism, providing a more energy-efficient alternative to traditional Proof-of-Work systems. It's built using C# and the .NET framework, making it accessible to a vast developer community already familiar with these technologies. This ease of adoption allows enterprises to integrate blockchain into their existing systems more seamlessly.

One of STRAX's standout features is its sidechains functionality, enabling developers to create customizable blockchain applications without affecting the main chain. These sidechains can be tailored to specific business needs, providing flexibility while maintaining the security of the primary Stratis blockchain.

Staking and Mining STRAX

Staking with STRAX

Stratis (STRAX) operates primarily through a Proof-of-Stake (PoS) consensus mechanism. Staking in the STRAX ecosystem enables token holders to participate in network validation and earn rewards. To participate in staking, users need to:

• Hold a minimum amount of STRAX tokens
• Run a Stratis Core wallet
• Keep their wallet online to validate transactions

The annual staking rewards for STRAX depend on several factors, including the total number of tokens being staked network-wide. Stakers are rewarded for validating blocks, with rewards distributed proportionally to their stake in the network.

Mining STRAX

In the traditional sense, Stratis (STRAX) doesn't support mining as it uses a PoS mechanism rather than Proof-of-Work. However, the validation process in the PoS system is sometimes referred to as "minting" or "forging" rather than mining. This process consumes significantly less energy than traditional mining, aligning with growing environmental concerns about blockchain technology's energy consumption.

What is STRAX Used For?

Stratis (STRAX) serves multiple purposes within its ecosystem:

• Transaction Fees: STRAX is used to pay for transactions on the Stratis network
• Smart Contract Execution: Similar to Ethereum's gas, STRAX is required to deploy and interact with smart contracts
• Staking: As mentioned, STRAX can be staked to earn rewards while securing the network
• Governance: Token holders can participate in governance decisions about the platform's future
• InterFlux: STRAX powers Stratis's InterFlux technology, which enables cross-chain functionality with other blockchain networks

STRAX Token Distribution

When Stratis migrated from STRAT to STRAX in 2020, the distribution followed a token swap model. STRAT holders could exchange their tokens for STRAX at a 1:1 ratio. The initial distribution structure was designed to ensure a fair and decentralized network, with allocations for:

• Public token swap (for existing STRAT holders)
• Development fund for ongoing platform improvements
• Strategic partnerships and ecosystem growth
• Team allocations (typically with vesting periods)

Additional Features of Stratis (STRAX)

Stratis (STRAX) offers several unique features that set it apart in the blockchain space:

• Stratis Identity: A Microsoft-certified digital identity solution
• Smart Contracts in C#: Allowing developers to write smart contracts in C# rather than new blockchain-specific languages
• Stratis DLT: A modified version of the platform tailored specifically for enterprise solutions
• Stratis Academy: Educational resources to help developers learn how to build on the platform
• Supply Chain Solution: Built-in tools for tracking products throughout supply chains

Trading STRAX with Cryptohopper

Investors and traders interested in Stratis (STRAX) can easily trade this cryptocurrency on various exchanges using Cryptohopper's automated trading bot. Cryptohopper allows users to set up customized trading strategies for STRAX and other cryptocurrencies, enabling 24/7 automated trading without the need for constant market monitoring. This tool is particularly valuable for trading STRAX as it can help capitalize on price movements while minimizing emotional decision-making in this volatile market.

Whether you're looking to add STRAX to your long-term portfolio or engage in more active trading strategies, Cryptohopper offers the flexibility and tools needed to implement your trading plan efficiently across multiple exchanges.