Stratis is a platform that makes use of a blockchain technology, similar to other platforms for cryptocurrencies. This technology helps users create and share their identities using the secure blockchain. Also, Stratis allows the development of C# applications using the .Net framework. Stratis aims to help users who want to develop their own blockchain projects by improving the entire process. The platform aims to bring the benefits of blockchain technology to every user. The blockchain is based on an algorithm known as the Bitcoin consensus algorithm. The platform competes directly with other cryptocurrency platforms like Ethereum and NEO.
What is it?
The platform makes use of the token $STRAT. It basically runs the platform. This token is considered to be an improvement over Bitcoin which is considered as the standard. This token makes use of the Proof-of-Stake concept. It is traded as a Bitcoin pairing.
Where to buy $STRAT?
The Initial Coin Offering (ICO) of the $STRAT took place in 2016, in July. Using this ICO, the project aimed to raise Bitcoins which could then further the development of the platform. It can be bought, traded, and exchanged on the following websites, Poloniex, Bittrex, and Bittylicious (for residents of the United Kingdom).
There are a number of wallets that can be used for the $STRAT coin. For beginners who want the options of sending, receiving, or staking their coins, Stratis recommends the use of the Staking Wallet. For those who want to just send and receive coins without performing any of the other functions, Stratis has an Electrum Client called Stratis Electrum. This will circumvent the process of downloading the entire blockchain, saving time and resources for the user.
The $STRAT coin need not be mined. The mining process involves expenditure of a lot of resources. Instead of this, the Stratis platform makes use of the Proof-of-Stake model. Using this model, those who have acquired the $STRAT coins can use some of their coins as a stake. These coins can be counted as a stake or a bet that is in favour of solving a block. Each time a user sends and received tokens over the network, or if coins used as stake count towards securing the blockchain, the proof-of-stake network rewards the user with more coins. The $STRAt token is issued in a 1:1 ratio, that is, each user will receive one token per block. This happens almost every minute.
The price of the $STRAT coin stayed at or was close to $0 (USD) till about April–May 2017. During that time, the coin saw an increase in price. There was a good increase in the price of the coin in June 2017 and then the price gradually dropped. The price spiked again around November and December of 2017. This spike continued well into January 2018. This spike coincided with a solid increase in demand for cryptocurrencies around the world as the number of investors increased. This could be linked to an increase in the price of Bitcoin, resulting in a huge outpouring of interest from investors keen to find the next big cryptocurrency. The price of the $STRAT coin dropped off gradually after January 2018. As of the fourth week of April 2018, one $STRAT coin was worth about $6.11 (USD). A table with the historical price trend for the $STRAT coin is presented here:
Risks associated with $STRAT
While $STRAT is considered a potentially good cryptocurrency, it might not be the best idea to invest in it. This is because of a variety of reasons. For one, since no one person has control over the virtual currency blockchain, governments around the world are either restricting the use of cryptocurrencies or banning them altogether. If this happens, investors may suddenly find that their investments have been erased. In this case, it would be a tremendous loss. Also, the volatility of the cryptocurrency market is well-known. Even with the $STRAT coin, it can be seen that the spike in interest in Bitcoin inflated the price of $STRAT and then when the interest faded, the price of $STRAT also reduced. This kind of volatility is not good for an investor who would like to see good returns on their investment. It is strongly recommended that investors consider traditional avenues for investing their money. One good segment for investing is mutual funds. These appreciate well over time and the returns can be considerable based on the plan that the investor has opted in on.
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