Stratis [New] (STRAX)

What is it?

Token: Stratis (STRAX)Stratis (STRAX) is the native cryptocurrency token of the Stratis platform. It operates as a proof-of-stake (PoS) token, meaning holders can earn rewards by staking their STRAX tokens to secure the network. STRAX is instrumental in several features of the platform, including transaction fees and the execution of smart contracts.

Platform: Stratis PlatformThe Stratis platform is a blockchain-as-a-service (BaaS) provider that enables organizations to develop, test, and deploy blockchain-based applications using the .NET framework. Unlike other blockchain platforms, Stratis focuses on offering solutions that are familiar to developers who have experience with Microsoft products. This approach reduces the learning curve for enterprises wanting to integrate blockchain technology into their existing infrastructures. Stratis aims to bridge the gap between the blockchain world and the corporate environment.

What is it used for?

STRAX is primarily used to compensate participants who support the network by staking, acting as an incentive to ensure the network's security and functionality. Additionally, it is utilized to pay for transaction fees and run smart contracts on the platform. Enterprises and developers who want to deploy applications or utilize services on the Stratis platform might also need STRAX as a form of payment or as a stake.

Who created it?

The Stratis platform and its STRAX token were founded by Chris Trew, an entrepreneur with a background in enterprise IT and cloud computing. Chris, along with a team of developers and professionals, sought to create a blockchain platform tailored to the needs of businesses, particularly those familiar with the Microsoft development environment.