Stratis Turns More Advanced and DeFi Friendly With the STRAX Blockchain Launch

The blockchain technology has come a long way in over a decade since the first cryptocurrency was introduced. It has been constantly changing the landscape of financial systems and also gaining widespread adoption across different industry sectors. The public blockchains have been instrumental in helping businesses overcome various challenges by ensuring transparency, data integrity and automation. The latest innovations to come out of such blockchains is the concept of Decentralized Finance (DeFi) which has the potential to provide financial services to a majority of the unbanked population.

As the demand for blockchain solutions continues to rise, Ethereum protocol remains the first mover in this sector by introducing dApps to the masses. However, the requirements for enterprise blockchain solutions are vast and there is a lot of room for improved alternatives to fill that space.

Stratis Group Limited, a UK-based company is one of the few projects that have successfully created alternative blockchain solutions that address the needs of various businesses. The Stratis ecosystem is wholly built on an open-source proprietary Stratis blockchain and supported by a suite of products to help develop enterprise-grade blockchain applications. To simplify the process of creating and deploying blockchain solutions, Stratis provides a BaaS (Blockchain as a Service) platform, using which developers can create highly scalable native C# and .NET applications.

Development tools provided by the platform allows developers to readily incorporate the Stratis full node to create autonomous dApps through efficient utilization of sidechains and smart contract functions. The ecosystem also includes products like Stratis Identity – an identity management solution on the blockchain, Stratis STO platform – for projects to host crowdfunding campaigns, crypto wallets, and more to provide an end-to-end blockchain development solution to its userbase.

Stratis Group also has a team of professional blockchain developers who are ready to help businesses with their goals by creating tailormade blockchain solutions for them.

Constant Innovation at Stratis

The Stratis blockchain ecosystem continues to evolve each day as its team constantly works towards the development of new features while improving the existing ones. As a result, the team has recently revamped the entire blockchai5rrn infrastructure supporting the ecosystem. The original Bitcoin-based Stratis blockchain and its accompanying STRAT token have undergone an upgrade to the newer and much better STRAX blockchain and its namesake native token.

The new STRAX blockchain adds agility to the proven Stratis ecosystem as it prepares to serve the changing industry needs. It is supported by an updated roadmap, technological and security enhancements and improved tokenomics that makes participation in the Stratis ecosystem more rewarding. With STRAX, Stratis will be able to support DeFi projects and higher transaction rates, among others.

The transition from STRAT to STRAX is in process with the project allowing existing STRAT token holders to swap them for STRAX. With the first phase of the swap ending on November 12, 9 AM GMT, the company has provided clear instructions on how to go about the token swap process in one of its recent blog posts. It will also be releasing an extraction tool for phase 2 of the swap process that will end in October 2021. With all the swapped STRAT scheduled to be burnt, leading crypto exchanges are also making appropriate changes to the listing.

Few popular crypto exchanges including  Crypto.com, Bittrex, Binance, Bithump, and Upbit have already announced the scheduled changes. Based on the snapshot of STRAT tokens in their accounts, these exchanges will be swapping them to STRAX on behalf of its users. Once the process is completed, STRAX trading pairs will be made available in the coming days.

Learn more about the STRAX Blockchain here – https://www.stratisplatform.com/2020/09/25/introducing-strax/
Read about the STRAX token swap at  https://www.stratisplatform.com/2020/10/15/strax-token-swap/