A Definitive Guide to Stratis (STRAT)

Blockchain has proved to be a force to reckon with. Initially designed to transfer value, tech geeks soon discovered that the innovation could be used for much more. These days, blockchain is used for all manner of applications, from secure messaging to tracking seafood, to voting. Even governments are tinkering with blockchain in a bid to realize more streamlined services. 

However, blockchain still remains out of reach for most organizations – thanks to the massive expenses that go into creating one, and the limitations inherent in most public blockchains. These limitations include scalability issues and their inability to support the private nature of enterprises’ information. Operating on a Blockchain-as-a-Service model, Stratis makes deploying blockchain as easy as signing up for an account. And it’s not just the ease of deploying a blockchain. The platform also allows users to tailor-make their blockchain applications. It even supports provisioning for some of the most popular blockchains – namely Bitcoin, Ethereum, BitShares, and Lisk. 

Hence, Stratis makes for a strong contender for an affordable, customizable, and flexible Blockchain-as-a-Service solution. 

What’s Stratis? 

Stratis is a blockchain framework that allows businesses to create customized blockchain applications. The Stratis platform enables enterprises to expedite their blockchain integration processes by simplifying the procedures required to do so. Beyond providing such a platform, Stratis takes it further by offering affordable blockchain consultancy services to clients. 

How does Stratis Work? 

Stratis functions as a Blockchain-as-a-Service (BaaS) platform. It supports technologies such as side chains and a suite of APIs to facilitate entities to incorporate blockchain without having to build a new blockchain from the ground up. 

#1. Blockchain-as-a-Service (BaaS)

Stratis offers cloud-based blockchain solutions. This means the end-user doesn’t have to maintain the entire blockchain network, saving significant resources both in time and money. 

#2. One-Click Deployment

Stratis enables entities to implement blockchain through the single click of a button. Users can deploy a side chain that has the same features as the parent chain. And for features that are not supported by Stratis, you can explore side chains to the Ethereum, Bitcoin, BitShares, and Lisk platforms. Thus, if an entity wants to experiment with any of these networks or use them in conjunction with the Stratis sidechain functionality, there’s nothing to stop them.

#3. Private Sidechains

Private side chains are one of the major selling points for Stratis. Deploying a blockchain on the Stratis platform grants you a private side chain that’s not just customizable; it also features the high-level security offered by the parent chain. 

#4. ICO Support

Stratis branches beyond offering customizable blockchains to provide an environment for ICOs. Organizations and individuals alike can launch their ICOs anytime via the Stratus blockchain. The network has partnered with identity verification company Onfido to conduct Know Your Customer (KYC) checks for ICOs, as well as with crypto exchange Changelly to give ICO holders the ability to accept over 50 different cryptocurrencies in contributions. 

#5. Stratis and Identity

Stratis also supports an identity ecosystem through which individuals can store identities on the decentralized blockchain, and service providers can verify customer identities. You can use the platform to confirm the identity of owners of potential investments, prove that someone is who they say they are, and so on. You can also use the platform to prove your identity to interested parties while maintaining absolute control over exactly how much information you let on.

The Stratis Architecture

The Stratis network runs on a Bitcoin full node platform using the C# programming language, Microsoft.NET, and the NBitcoin library. 

The blockchain’s architecture is supported by three separate components which we’ll look at below: 

  • Bitcoin Full Node
  • LibConsensus
  • NBitcoin

#1. The Bitcoin Full Node

Stratis’ full node comprises three layers: 

  • Node Policy Layer – responsible for preventing distributed denial of service (DDoS) attack
  • Infrastructure Layer – responsible for managing storage and verification of transactions
  • Interface Layer – consists of API kits to enable developers to readily investigate the state of the blockchain and user interface 

#2. LibConsensus

LibConsensus is a library system based on the Bitcoin Core version and enables networks to verify the validity of blocks. 

#3. NBitcoin

Bitcoin Core supports LibConsensus by providing part of the consensus code. NBitcoin, for its part, fills any remaining gaps. 

Stratis’ C# and .NET

In 2017, Stratis launched the Stratis Development Framework (SDF), which is a set of tools that support the development of blockchain solutions in both C# and .NET languages. The goal was to empower more developers to use the blockchain and build powerful solutions with these universally familiar coding languages. 

This is unlike, say, Ethereum, which employs its own proprietary coding language “Solidity” and one that may lock out many developers. 

Stratis’ Fiat Gateway Integration 

Unlike the majority of blockchains that only facilitate value transfer via their native tokens, Stratis supports the transfer of value in both Fiat and cryptocurrency. This is so to help businesses avoid compliance issues and wild volatilities that are associated with crypto.

As such, organizations can use the platform to transfer both types of currencies, taking advantage of the best of two worlds. It means they can navigate compliance demands in ways that favor them and rely on the stability of traditional currencies while also capitalizing off of the speed, transparency, and affordability of crypto. 

Partnership with Earth Twine

Stratis has partnered with Earth Twine to create ‘The Earth Twine-Stratis Platform,’ the first implementation of blockchain in the seafood industry. The partnership spells a new direction for the seafood industry, well cementing the potential for blockchain to transform nearly any industry.

Announcing the partnership, Stratis said: “Stratis will establish distinct, dedicated blockchains, tokens and applications to integrate Earth Twine’s global seafood tracking solution onto the blockchain. This rapid innovation and development will transform the seafood industry by introducing unprecedented levels of trust collaboration and settlement, in turn, increasing productivity and sustainability.” 

The move was in response to the Seafood Import Monitoring Program’s requirements that from Jan 2018, data for seafood imports should be sent electronically to U.S. Customs and Border Protection. This was in a bid to curb the illegal, unreported, and unregulated (IUU) exploitation of water resources that negatively impact global seafood markets. 

The Stratis Team

Stratis is the brainchild of Chris Trew, an Enterprise IT professional with ten plus years under his belt. He’s also a backend developer with years of experience in C# and ASP.NET technologies. 

Other team members include Krushang Patel, Mahesh Chand, Paul Carrington, Jordan Andrews, Rowan De Haas, Maciej Zaleski, Gustav Stieger, and more. The group has experience cutting across blockchain development, UX/UI design, communications, and technology analysis. 

The Stratis Token (STRAT)

STRAT is the native utility token of the Stratis network. It fuels network transactions and also acts as a value transfer medium in the Stratis marketplace.

Tokenomics of Stratis

On June 29, 2020, the STRAT token is trading at $0.445022, with a market rank of #111. It has a 24-hour volume of $1, 037, 998, and a circulating and total supply of 99, 856, 676. The coin has an all-time high of $22.66 (January 08, 2018), and an all-time low of $0.008483 (August 13, 2016). 

Where to Buy STRAT 

STRAT is available as a market pair with BTC, ETH, USDT, and with Fiat currencies such as the Euro and US Dollar on exchanges such as Binance, Upbit, Bittylicious, HitBTC, WazirX, Poloniex, Livecoin, Bitvavo, Bittrex, and CoinDCX. 

For storage, STRAT holders have three options provided by the team: 

  • Stratis Core Wallet – A staking wallet through which you can send and receive STRAT tokens and earn more when you stake them in the wallet
  • Breeze Wallet – A “lightweight” online-based wallet that supports STRAT and BTC. This means you can pay for things as well as receive payments via either currency. The wallet is available on Windows Mac and Unix.
  • Breeze with Privacy Protocol service – This is a variation of the Breeze wallet with added privacy features such as coin shuffling technology to add an extra layer of privacy for transactions.

Final Words 

In a crowded field of projects offering blockchain solutions, Stratis manages to stand out by offering as-simple-as-click blockchain deployment and provisioning to other side chains of popular blockchains. The company’s team is made of professionals who know what they’re doing and can be trusted to steer the project into a success. If they continue innovating and anticipating industry needs, there’s nothing to stop Stratis from being one of the dominant players in the BaaS space. 


Blockchain as a Service: The Definitive Guide

Blockchain is the technology that powers the vast majority of cryptocurrencies, including Bitcoin, the pioneer user of the technology, and the most successful cryptocurrency. One of the reasons cryptocurrencies have been a hit with users and investors is their high-level security and decentralized nature. It’s blockchain technology, their underlying technology, which affords them these qualities. It’s also the reason why numerous industries are trying to onboard the technology in a bid to optimize their processes.

Blockchain was first used in Bitcoin but has since seen growing use in a plethora of disparate industries – from food to music to governance to diamond mining and more. The technology is remarkable for its unprecedented features. First of all, it’s decentralized, meaning no intervening authority can interfere with its operations. Again, records that it holds are immutable, meaning they can’t be deleted. Then, transactions on the blockchain are open for all participating parties to see. And finally, it’s secured by state-of-the-art cryptography, making it ultra-secure.

These features make blockchain a very interesting proposition for enterprises. But there is one problem: blockchain technology is not cheap. Any company wishing to develop its own blockchain would need to pump a ton of money into the project. When you combine that with the technical nature of the technology, it beats logic for any company to choose that path.

Luckily, companies can utilize blockchain in their organizations without breaking the bank or having to deal with the technical aspects of the technology, thanks to blockchain as a service (BaaS). 

BaaS is a model based on the ‘software as a service model,’ and it works in a similar fashion; only this time, it deploys blockchain solutions.

What is Blockchain as a Service? 

Blockchain as a service (BaaS) is the means by which businesses can subscribe to and access blockchain benefits such as security, transparency, immutability, and trustlessness without having to develop their own blockchain.

Blockchain as a service allows businesses to experiment with smart contracts, decentralized apps, and other blockchain applications with the blockchain provider hosting and maintaining the network. 

 BaaS allows businesses across a wide range of industries to have the best of both worlds – capitalize on the benefits of blockchain while avoiding the cost of maintaining one.  

How BaaS Works

As blockchain becomes more popular, so do more companies wishing to explore its benefits. But creating, configuring, operating, and maintaining a blockchain from the ground up is no easy task. A company would need to invest in considerable manpower and inject a lot of money into the process. It is an incredibly tasking process, both time-wise and financially.

Thanks to BaaS providers, companies can now circumvent the technical complexities and operational costs needed to create a blockchain. They can access one for a fee, while the provider provides continuous back end support functions. 

The BaaS provider support operations such as bandwidth management, appropriate resource allocation system health monitoring, prevention of attacks, incident management, hosting needs, and data security. With this arrangement, a client can focus on improving and streamlining their business operations with the power of the blockchain.

A BaaS provider’s role is very much like that of a web hosting provider. Web hosting providers such as Amazon Web Services or HostGator take care of maintenance and infrastructure of the website, while the website owner runs it from their end.

BaaS may be the unexpected path to deeper and mainstream adoption of blockchain across industries and enterprises. Instead of investing considerable resources in a blockchain – which acts as a barrier to the technology’s adoption, businesses can simply lease one and enjoy a hands-off and convenient use of its revolutionary features. 

Cost of Self-Hosted Blockchains vs. BaaS

The cost of a BaaS varies depending on several factors, but it will always be cheaper than a self-hosted blockchain. For a self-hosted blockchain, a company would need to invest a large amount of money in covering startup costs (developers, hardware, software, licensing, etc.), as well as operational costs (maintenance, bandwidth expenses, transaction and so on). These costs combined can rack up to thousands of dollars.

On the other hand, BaaS pricing uses a pay-as-you-go or plug-and-play model, where a business only pays for using the service for an allocated period of time. This model depends on several factors, including the volume of transactions, number of nodes, peer node storage, payload size on transactions, and so on.

Some BaaS providers determine costs based on an hourly rate, while others use a tiered pricing model where each tier is based on the Units of service consumed. Note that BaaS costs include consultation fees as well as any arising support services as per the contract agreement.

How to Address Baas Security Concerns

While blockchain can help an organization achieve better outputs, the concern about security as well as privacy is not that easily solved. This is because the most well-known blockchains store data on a publicly available ledger. No organization is willing to put its business out there, or so to speak. There is a special need to preserve sensitive data, such as financial records and employee identities. This is addressed by the use of private blockchains, which differ from public blockchains in that only authorized individuals can access records. 

There is also the issue of glitches and bugs, which can occasion serious disruptions and data breaches, leaving the whole system vulnerable. To preempt such situations, it helps to conduct due diligence and thorough research before taking on a BaaS provider. Consider things such as:

  • What are their credentials?
  • What is their longevity in the industry? 
  • What is their reputation? 

It also helps to define your expectations before going to the market so that there’s no confusion on the part of either party. This includes assurances and guarantees that you first need to agree on before signing the contract. 

How to Choose a BaaS Partner

On a normal day, a lot of work goes into evaluating potential business partners. Now when it comes to choosing a BaaS vendor, the process is even more rigorous, just considering the sensitivity involved (safety of company data). Also, there is no precedent or industry best practices and guidelines, making it more important to prudently choose a BaaS partner. Here’s what you should look out for before picking a BaaS partner: 

i) Prior Experience 

Ensure that the BaaS vendor has demonstrable experience in deploying blockchain technology on a similar scale to the one you’re planning for your business. For even more assurance, ask for recommendations from past customers. 

ii) Commitment to Quality

Make it your point to thoroughly vet the potential BaaS provider to gauge their commitment to the highest degree of quality and adherence to standards.

iii) Security Standards

What is the vendor’s attitude toward security? Look for any gaps in the proposed security plan. Address any security concerns that are unique to your business. Remember with blockchain, the importance of a robust security plan cannot be overestimated since even the tiniest bug could lead to major repercussions.

iv) Choice of Operating Systems

Does the vendor have any experience in deploying blockchain for operating systems similar to your organization’s? Also, can they integrate the technology to mesh seamlessly with your legacy systems?  

v) Ease of Use 

Blockchain is already complicated as it is. You need a vendor who will integrate blockchain in your systems in a way that’s easy to use. Employees should be able to navigate the systems without experiencing any difficulty. 

vi) Pricing and Support

Just like with any service, you want value for money for a BaaS. Evaluate different offers and choose the one that offers you the most value in the long term. 

Examples of BaaS Companies

Several organizations have taken the lead in the BaaS space, and the presence of some heavyweights in the list demonstrates the massive potential of blockchain and how it might very well become a dominant force in the future. Let’s take a brief look at each below:

Amazon Web Services (AWS)

This is an offshoot of the powerful conglomerate, Amazon. AWS provides cloud-based blockchain solutions to businesses, regardless of their location. When businesses subscribe to the platform, they have access to a high-performance, secure and reliable “Quantum Ledger Database’ through a platform known as Amazon Managed Blockchain, which was launched in 2018. There’s even an option for companies to request an initial setup – which they call ‘AWS Blockchain Templates’ and manage the service on their own, going forward. Currently, AWS is supporting high-profile clients such as BMW, Accenture, the Singapore Exchange, Nestle, and Sony Music Japan.

IBM Blockchain Platform

IBM has a blockchain platform through which organizations can “easily build and join a blockchain network on-premise, or any private, public or hybrid multi-cloud…” IBM has utilized several strategic partnerships in developing and deploying blockchain, including Chainyard – a blockchain firm, as well as tech company IT People. IBM’s BaaS flagship product is Hyperledger Fabric, which has already seen wide adoption across industries including food supply, media, supply chain, media, trade finance and more.

Microsoft Azure 

Microsoft has a blockchain platform dubbed Microsoft Azure, which enables companies to deploy blockchain solutions, build blockchain-based applications and securely manage data. The Azure platform provides three products that clients can use: Azure Blockchain, Azure Blockchain Workbench, and Azure Blockchain Development Kit.

Azure bills itself as more affordable than Amazon’s AWS, saying the latter is “five times more expensive than Azure for Windows Server and SQL Server.” Companies that wish to explore blockchain technology and are already utilizing Microsoft products such as Logic Apps and Flow may find it cheaper and more convenient to integrate Azure. Microsoft Azure’s clients include General Electric and T-Mobile.

Alibaba Cloud BaaS

Alibaba is known as a major player in the technology space, so it was only a matter of time before it came out with blockchain solutions for its broad base of subscribers. The company’s blockchain platform utilizes Quorum, Hyperledger Fabric, and the Ant Blockchain, to integrate its Cloud’s Internet of Things to enable businesses to track products among other services. Currently, Alibaba deploys blockchain in three levels: enterprise-level, private deployment and blockchain solutions tailored for container services.


Corda is an open-source distributed ledger platform designed by enterprise solutions company R3. On the Corda platform, companies can transact in a decentralized, peer-to-peer platform via the use of smart contracts. Corda’s BaaS has been used by the Royal Dutch Airlines to streamline financial processes and settlements and secure and maintain accurate records. Other clients in Corda’s fold include Monetago and Tradeix. Corda operates based on three principles: interoperability, security, and privacy.

Oracle Blockchain Cloud Service

Oracle’s BaaS seeks to help businesses “increase trust and provide agility in transactions across their networks” via its Hyper Fabric-based enterprise-level and pre-assembled blockchain platform. Through the platform, businesses can deploy blockchain networks for private or consortia use, enroll new members, and utilize smart contracts to achieve trustlessness and accuracy. Oracle’s BaaS is compatible with other Oracle tools, such as identity management and remediation tools.

 Final Thoughts

Blockchain brought with it unprecedented levels of transparency, security, and effectiveness. By utilizing the technology, businesses can dramatically change how they do things – for the better. BaaS can help them take advantage of the technology for this end; without committing a staggering amount of resources. They can focus on what blockchain can do for their business model while leaving the heavy lifting to BaaS operators.

It’s a win-win model for both blockchain and businesses. The more businesses take up the technology, the more they push it to the mainstream. Eventually, blockchain will become this ubiquitous phenomenon of society, much like the internet.