Stratis is a Blockchain Development as a service provider that aims to provide developers familiar with the Microsoft environment the ability to utilise blockchain technology.
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- What is Stratis?
- How was Stratis (STRAX) Launched?
- Ethereum interoperability
- Revamped block-times and block-rewards
- Who are the Team Members behind Stratis?
- How to Stake STRAX?
- How much can I earn Staking STRAX?
- Any risk to Staking STRAX?
Stratis is a powerful and flexible Blockchain Development Platform designed for the needs of the real world financial services businesses and other organisations that want to develop, test and deploy apps on the blockchain. Stratis significantly simplifies the development process for creating Blockchain applications and accelerates the lifecycle for Blockchain development projects. Stratis private chain allows businesses to deploy their own customise blockchain without the costs of running their own blockchain network infrastructure.
The vision of the Stratis platform is to become a one-stop shop for all blockchain things, mostly becoming a blockchain-as-a-service (BAAS) platform. Technology-wise, it is a clone of Bitcoin’s core code, with a few enhanced features and written in C# language instead of C++.
Founded in 2016, Stratis is headquartered in the United Kingdom. Above all, Stratis strives to develop blockchain-based solutions for enterprises, with the goal of making the technology ‘simple’.
The outgoing Stratis blockchain, and its associated STRAT tokens, was replaced with the STRAX blockchain and STRAX tokens in 2020.
Other key upgrades afforded by STRAX include, but are not limited to,
The team is based in the United Kingdom but has a decentralized structure with members spreading across the world. Several people on their management team are well-versed in enterprise software development using .NET and C# – a positive sign considering those are the project’s two primary languages. Chris Trew, the founder and CEO, has over 10 years of experience in enterprise IT and was a volunteer developer for the Blitz project. Stratis is competing against other BaaS projects in an increasingly saturated but gigantic space.
Staking is essential to the Proof of Stake consensus mechanism used on the STRAX Blockchain. Blocks are verified and mined by network participants who are willing to set aside a portion of their tokens, effectively freezing them so they cannot be spent. In return, these participants are granted the right to verify transactions and earn bonuses paid in tokens. The larger the number of tokens a participant is willing to stake, the greater the chance they will be selected to mine the next block and earn the associated reward.
There are three options that we have identified for STRAX, Coldstaking with Provider, running a Block Producer Node, and running a Sidechain Masternode.
Check out the Stratis Staking Rewards Calculator to estimate your staking rewards for STRAX.
While tokens are being staked, they are frozen in a wallet. If the wallet is connected to the blockchain network, it is referred to as a hot wallet. Such an arrangement incurs a level of risk as the wallet is effectively exposed to the internet and therefore susceptible to attack.
Cold Staking is inherently safer than staking in a hot wallet since tokens are not susceptible to online attacks while held in an offline wallet.
When running a Block Producer Node or a Sidechain Masternode – Your only risk of your infrastructure setup being compromised.