The aim of Stratis is to provide the perks of the blockchain technology for the financial sector. It is a Blockchain-as-a-service platform (BaaS) that helps corporations to develop solutions and applications.
Any financial company can use their own blueprint to model its own blockchain applications according to their requirements. It allows for much simpler protocols and quickening of the blockchain project development.
How does it work?
Stratis works as the guiding bond that connects and navigates the movement of a financial company towards the wonders of blockchain technology.
Stratis makes customized blockchain with unique and characteristic features through the channel of a third party organization. They can also install their required features into the private blockchain. These private blockchains or side chains are secured by the main blockchain of Stratis. Users can access the chain through lite clients and APIs.
Corporations don’t have to launch their own blockchain platform anymore. They can use the Stratis sidechain to make their own blockchain infrastructure. It saves time and money by limiting the management obligations.
They can also the useful features of the established blockchain platforms, such as Etherum or Waves.
The functional unit of the platform is known as the ‘Stratis cryptocurrency’. Any sidechain, based on the stratis blockchain, will have to use its token to operate their functions. There is a direct link between the main chain and side chain, where it is compatible with any transaction among the chains.
The platform will be designed on C# stratis bitcoin full node platform and framework. This will be developed on the fundaments of the NBitcoin library. Blockchain developer Nicolas Dorier wrote this port of Bitcoin core in C# and. NET, which almost complete. The traditional C++ Bitcoin core source code is not a proper match compared to NBitcoin since it has been developed in pure C# and utilizes the .NET framework.
The team also plans to provide consultation services for the companies, helping them to utilize and develop their programs. Their goal is to manage their operation from London and from where they plan to distribute their services across the globe when required.
The project was funded by an ICO that was held in 2016. It raised a significant amount of funds in Bitcoin and the project was launched. As the time passed by, its value has gained immensely in the market.
The release of the nStratis Development Framework meant a lot for the community. It allows for the utilization of C# and .NET for blockchain development. Stratis team released the program way before the originally scheduled time to provide the users with the option of developing open source blockchain applications on .NET framework.
The results are quite significant as many developers are working on the platform for the development of new applications.
The team also launched Stratis Developer Academy, where educational and promotional services are offered. They train new users, host webinars, proved certification and arrange events. The Stratis Blockchain Hackathon was the first big event hosted by the academy. It provided the perfect opportunity for the developers to show off their skills and ideas.