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Stratis Monthly #10

Last month, we provided a comprehensive update on our development roadmap and corporate news. As part of our ongoing commitment to keep the community across the latest developments, we also intend to publish a review of 2019 at the end of December. For those who just cannot wait to hear more, tuck into the latest news from the month of November.

Development Update

A high-level summary of the key developments can be found below.

Stratis Full Node

  • .NET Core 3.0 Upgrade
  • Implemented SQL Wallet feature for Sidechain Wallets
  • Improvements to SQL Wallet
  • RPC Call alignment with Bitcoin Core
  • Support for Bi-Directional Messaging in SignalR
  • Testing of LevelDB implementation

Block Explorer

  • Enhancements to Block Explorer catering for Smart Contract data
  • Various improvements to Indexer API

Stratis Smart Contracts Challenge in full swing!

We now have over 180 developers registered to take part in the Stratis Smart Contracts Challenge and win their part of the US$18,000 prize fund. The response from both community members and the wider developer network has been exceptional and from the discussions we have had with participants so far, we are anticipating some truly innovative submissions as we approach the 16 December deadline.
Amid the excitement, the recent ruling that cryptoassets and smart contracts are valid in English law shows the very real potential of these applications. After all, the statement was based on “not what they would like the law to be, but what they believe English law to be now”. Not a bad time to be building Stratis Smart Contracts in C#.
We would encourage you to continue to share the hackathon with your friends and contacts – even if they are not currently involved in the space, this is a fantastic opportunity for any C# developers to kick-start their blockchain journey.

Stratis in the news

Stratis was in the news again this month as the launch of the Stratis Smart Contracts Challenge was featured in the media. The announcement of the hackathon appeared in Financial IT, Crypto Ninjas and Enterprise AI. We are glad to see these publications supporting our online hackathon!

Latest research: blockchain to create major cost-savings in the supply chain

We continue to see widespread adoption of blockchain and DLT led by some of the world’s largest companies. In particular, there is growing industry focus of blockchain’s role in the supply chain to improve business processes, unlock cost-savings and restore the trust of consumers.
A new study has found that the implementation of blockchain technology in supply chains could save businesses in Western Europe $450 billion in logistics-related costs. The report found that 60% of companies overpay their supply chain vendors and 70% have ‘visibility gaps’ between the initial supplier and internal clients’ systems.
In the food industry alone, a Juniper Research report revealed that blockchain will save $31 billion by 2024 through the streamlining of supply chains, efficient food recall processes and “simpler regulatory compliance.”
Meanwhile, in the automotive industry, a survey of 314 vehicle manufacturing executives found that 62% believe DLT will be a disruptive force in the industry within three years.
This is encouraging news for enterprise adoption of the Stratis Platform, an enterprise-grade development platform on which businesses can deploy bespoke blockchain solutions in C# and .NET.

Stratis Monthly #9

The primary development focus during October was exchange readiness and preparation for the Stratis Hackathon hosted on Devpost. The hackathon has received attention from a number of established hackathon contestants and we expect the number to increase throughout the coming weeks.

Development Update

A high-level summary of the key developments can be found below.

Stratis Full Node

  • Improved mempool handling of dust transactions
  • Increased wallet security by removing password caching logic
  • Stabilised various integration tests with regards to sidechain operations
  • Refactored database locking
  • Improved reliability of the PoA miner resulting in the avoidance of missing blocks
  • Aligned RPC methods with Bitcoin Core 0.18
  • Greatly improved RPC Response times.

Wallet

  • Improved performance of the SQL Wallet
  • User-Interface updates to the support SQL Wallet
  • Testing and stabilising the SQLite Wallet integration
  • Optimization of the Wallet Feature
  • Bi-directional alignment of unconfirmed wallet transactions
  • Improved the performance of console updates for the wallet
  • Added improvements and features to the hackathon wallet
  • Improvements for token management screen in Cirrus wallet

Sidechains

  • Implemented improved network rule registration across the Cirrus networks
  • Improved transaction history for Cirrus Core
  • Various fixes and improvements with regards to cross-chain transfers on Cirrus

Smart Contracts

  • Performance improvements for smart contract execution via caching
  • Updated smart contracts tutorial for latest full node release

Roadmap Update

The development focus this year was to continue enhancing the Stratis Platform, incorporating new features as detailed on the Stratis 2019 Roadmap.
These features play a key role in Stratis being an attractive viable option for developers and organisations blockchain needs.
It is crucial for us to remain agile and actively develop solutions that bring a significant benefit to the platform. This has resulted in a number of key items being prioritised over items listed on the Stratis 2019 Roadmap.
Development efforts have been shifted to deliver alternative technologies that will bring further value to the Stratis Platform, as an example, the Segregated Witness (SegWit) development on Stratis is now code complete and is due to undergo our rigorous test cases to ensure compatibility within a heterogenous environment. SegWit facilitates the future scalability of the Stratis blockchain by giving an effective increase to the size of the blocks permitted on the network.
Furthermore, it opens the possibility of improvements to the transaction scripting language. This means that functionality that may previously have required a hard fork can now be implemented safely on the network. It also lays the groundwork for technologies such as Schnorr signatures and Merkelized Abstract Syntax Trees (MAST), that can again be leveraged to gain scalability benefits.
The implementation of the Breeze Privacy Protocol also becomes achievable with the activation of SegWit on Stratis Mainnet. We expect the Breeze Privacy Protocol functionality to be the first delivery of extended functionality once SegWit is activated by majority of block producers move to a SegWit supported node.
In addition, further development and refactoring of the Stratis Full Node to ensure like-for-like response times (in comparison to StratisX) when interrogating the node via Remote Procedural Call was a significant focus. Along with the complete re-development of the Stratis Full Node Wallet Feature, to significantly amplify the ability to scale and ensure data integrity. This ultimately provides current and future exchanges and third-parties the ability to utilise the Stratis Full Node as opposed to our legacy node that is currently leveraged.
Distributed Ledger Technology (DLT) has also received considerable attention, the further development includes the integration of a Certificate Authority and end-to-end encryption allowing private blockchain implementations to remain private and secure. The addition of memberships services and ‘token-less’ support for the Proof-of-Authority Consensus Algorithm are also additional features that have been incorporated into our DLT offering.
These additional developments have not drawn the focus away from all items listed on the Stratis 2019 Roadmap. You can expect a significant number of deliverables to be released prior to the close of the year.
A brief summary of the Stratis 2019 Roadmap can be found below:

Stratis Payment Gateway

We have been working closely with MediConnect to understand their business requirements and assisting them with both documenting and designing the Payment Gateway infrastructure. As we move into 2020 we will continue to liaise with MediConnect to provide a functional Payment Gateway that can be repurposed for similar use-cases.

Stratis STO Platform

The Stratis STO Platform has received significant attention to cater for the upcoming Gluon Security Token Offering (STO). Requirements have been fed directly from the U.S Security Exchanges Commission (SEC) as part of Gluon’s application, ensuring the platform meets the needs of an approved Security Token Offering.

Stratis Mobile Wallet

Development is being undertaken to make a mobile wallet available, the current focus is on porting an already established Mobile Wallet Service to support a Proof-of-Stake network and the Stratis networks, including Stratis and Cirrus.

Unity SDK

A Unity plugin has been a focus for 2019, we have successfully tested NStratis in Unity, however, a full production release of a Unity plugin will not be available until next year.

Stratis Sidechain Masternodes

The development of the Stratis Sidechain Masternodes to support the Cirrus Sidechain was a major development for Stratis in 2019. Currently all block producers on the Cirrus Sidechain are publicly operated Stratis Sidechain Masternodes, maintained by holders of the Stratis Token who meet the collateral requirements.

Breeze Privacy Protocol

The integration of the Breeze Privacy Protocol becomes possible with the implementation of SegWit, initial designs focused on integrating the Privacy Protocol being implemented natively, however, with the introduction of SegWit, it makes this integration possible with a significantly lowered network disruption.

Java & JavaScipt Support

An intermediary service supporting other programming languages is a development that will attract developers with expertise outside of the .NET ecosystem. The integration of JavaScript support is heavily tied with the Mobile Wallet deliverable.

Proof-of-Stake Sidechains

A design has been in place for Proof-of-Stake Sidechains, however, this development requires a significant amount of focus and resources were allocated to other important aspects of the business. As a result, the design will be re-assessed in the coming year.

Stratis Core 2.0

The makeover of Stratis Core is underway, focusing on providing a new User Experience (UX) whilst catering for further developments and integrations into the desktop wallet.
Since the conception of the Stratis Core User-Interface the developments of the Stratis Platform have changed dramatically, meaning there are more features to incorporate in the GUI (Graphical User Interface). A change of design was the best way forward to ensure that all these new features have a home without impacting the user experience.

As we move into next year, the focus for private distributed solutions will grow significantly to accommodate business adoption within the private sector whilst also catering for those who wish to utilise a public network with an associated cryptocurrency.

Stratis Smart Contracts Hackathon underway!

It’s an exciting month for Stratis and developers with the start of the Stratis Smart Contracts Challenge. The Stratis Hackathon will run for six weeks until 16 December 2019 and you can enter now for the chance to win up to US$10,000 for first place with a total of US$18,000 up for grabs. Just go to our Devpost page and follow the instructions to enter.
The hackathon is part of the Stratis Academy initiative to reduce barriers to entry for developers entering the blockchain space. As a result, significant effort has been put into simplifying the set-up process to make it as easy as possible for both new and existing developers to get started in a ‘click and play’ environment. Entrants can find a full tutorial, including instructions and examples, on the Stratis Academy website.
We are grateful to C# Corner for their sponsorship of the event and to our judging panel, which includes developers, blockchain gurus and Microsoft MVPs. Already, over 35 participants have signed up to take part and we’re very excited to see the new and innovative applications of Stratis Smart Contracts in C# that emerge from the hackathon. Watch this space!

Partner update – Gluon moves forward with SEC submission and grows fuel industry product, Petromo

Gluon has been making headway with its registration with the U.S. Securities and Exchange Commission (SEC). Having begun the registration process last year, Gluon is now in the later stages of the procedure. Stratis is working closely with Gluon to assist with the submission process so that Gluon can begin its token offering.
The business is also developing positively. Petromo, Gluon’s enterprise product which monitors fuel inventory, is expected to expand its footprint in the U.S. from 40 live locations to over 400 by the end of Q1 2020. Built for the widely used Gilbarco Veeder-Root system, Petromo’s IoT hardware allows users to monitor their fuel inventory remotely on their mobile devices. It is currently monitoring 4 million gallons of fuel per month at its 40 live business locations.
Gluon has also received approval from Gilbarco for the development of a third-party backend office system which will also be a part of the Gluon platform.
Stratis has been working with Gluon since January 2018. Gluon’s technology platform establishes a secure network of interconnected vehicles, allowing users to diagnose, track and monitor issues using IoT devices, AI and blockchain.

Partner update – MEDI distribution process begins

It’s been just over four weeks since MediConnect closed its ICO, raising 432,685.64 STRAT and 104.33 BTC for its pharmaceutical solution to protect patients both on and offline.
Participants in the ICO are now being asked to create a Cirrus Core Wallet address and submit it to the ICO platform. This will allow the token distribution to run smoothly and efficiently. Detailed instructions are provided on MediConnect’s website.

Stratis in the news

Stratis continues to feature in the news as our CEO, Chris Trew, authored an article in Crypto Globe on Why Blockchain Will Be One of History’s Key Technologies. In the piece, Chris suggests blockchain can have a similar far-reaching impact as the other great technological leaps in history and help to define the ‘Fourth Industrial Revolution’.

Stratis Monthly #8

The main focus of development in September was adding features to improve the stability of the wallet and adding functionality to the Stratis Full Node so that it is ready for exchanges.

Development Update

A total of 179 commits were made during the month of September, encompassing 437 file changes and 14,791 additional lines of code to the Stratis Full Node. A summary of the key developments can be found below.

Wallet

  • Created wallet repository feature
  • Undertook extensive optimization of the wallet repository feature
  • Added support for both database-per-wallet and multi-wallet-database to wallet repository
  • Added cold-staking support to wallet repository
  • Future-proofed wallet repository for use with federated transfers
  • Updated wallet feature to use new wallet repository feature
  • Added SignalR support for multiple wallets and accounts for Cirrus Core
  • Updated API to expose SQL based wallets
  • Stratis Core and Cirrus Core updated to use new SQL Wallet with latest SBFN codebase
  • Various bug fixes and performance improvements
  • Updated a large number of test cases related to the wallet feature to use the wallet repository

RPC

  • Optimized “gettransaction” and “listaddressgroupings” RPC methods
  • Aligning of RPC calls with Bitcoin Core
  • Bug fixes for RPC calls

Certificate Authority Service

  • Introduction of ‘Roles’
  • Handle issuance and revocation of certificates
  • Check the revocation status of any given certificate
  • Implementation of an API to manage accounts and associated certificates

Smart Contracts

  • Caching of contract code, for smart contract execution performance improvements
  • Caching execution results between mining and validation for smart contract performance improvements

Testing Update

The wallet is a fundamental part of the Stratis Blockchain. In order to ensure future scalability, we have redesigned that key component to take advantage of a database engine rather than rely on the JSON file format.
In order to prove the wallet is functioning as expected and can cope with a large volume of transactions, we have further developed our test environment specifically for the purpose of testing the functionality and performance of the wallet, more so than ever before.
This test environment is based on a private blockchain and a large set of wallets with an even larger number of coins (i.e. UTXO). The test scenarios include creation of new wallets, filling them with predefined sets of coins and finally building and sending transactions on a significant scale.
This setup allowed us to uncover and fix wallet-related defects as part of an ongoing effort to make our solution faster, more scalable and more robust.

Hackathon announced – Stratis Smart Contract Challenge

We have announced the Stratis Smart Contracts Challenge, an online hackathon which will begin on 1st November and run through to 16th December 2019. A total of US$18,000 is up for grabs with a first place cash prize of US$10,000, second place prize of US$5,000 and third place prize of US$3,000.
The challenge is to develop smart contract applications that can have a big impact. They should be useful, easy to use, innovative and capable of being applied across a wide range of industries. These include banking and financial services, international trade and commodities, supply chain, energy, identity, Internet of Things, government, healthcare and medicine, automotive and gaming.
We are very excited to see how contestants harness Stratis Smart Contracts in C# to develop a set of varied and innovative use cases.

Partner update – MediConnect successfully closes ICO and proceeds with proof-of-concept

It’s been a significant month for our partner, MediConnect, who closed its ICO at the end of September. MediConnect also completed the workflow for its proof-of-concept (PoC) and began the integration of UK Meds, an online pharmacy and partner of MediConnect, to the PoC platform.
Stratis is developing the MediConnect blockchain as a bespoke solution based on the Stratis blockchain. The PoC is designed to trace medication through the supply chain from the point at which it is manufactured to its prescription by medical professionals and purchase by patients.

Stratis features in the news

Stratis CEO, Chris Trew, has been featured in the news recently as he discussed topics including the move towards a cashless society and the important role smart contracts can play in business.
In a piece titled Blockchain and the cashless society in Financial IT, Chris discusses the growing momentum pulling businesses, financial institutions and central banks away from a centuries-old system based on banknotes to one built on blockchain. In another piece featured in Business Cloud, Chris discusses how Smart contracts have potential to speed up business and could revolutionise how companies operate in the same way as the cloud or AI.

Stratis Monthly #7

It may have been August, but it was another busy month for Stratis, filled with updates from our developers. The main focus was the release of the block explorer for Cirrus and Stratis networks and improving the stability of the Cirrus Sidechain.

Development Update

A total of 47 commits were made during the month of August, this encompassed 320 file changes and 7,694 additional lines of code to the Stratis Full Node. A summary of the key developments can be found below.

Stratis Full Node

  • Partially refactored the full node’s feature discovery mechanism and continued refactoring work to improve overall architecture surrounding network consensus rule registration
  • Utilizing the Stratis Coherence Suite to ensure release stability

Cirrus Sidechain

  • New Cirrus wallet feature to issue custom tokens and interact with them
  • Improvements for stability of the Cirrus miner
  • Feedback improvements from Cirrus’ cross chain transfer store to better log information to the console
  • Fixed unconfirmed balance issues with Cirrus’ federation wallet

Smart Contacts

  • Porting of Azure workbench sample smart contracts
  • Improvements to smart contract receipt querying
  • Fixes for smart contract storage access bug

Stratis Core Wallet

  • Fixes for wallet transaction history
  • Updated cold staking feature to include wallet feature explicitly
  • Performed extensive performance testing and optimization of wallet database
  • Created new SQLiteWalletRepository database store for wallets
  • Added option for multiple wallets per database or one database per wallet
  • Identified some reusable code and interfaces in the wallet database
  • Added support for various RPC methods including GetAddressGroupings to wallet database

Block explorer

  • Release of the block explorer for Cirrus and Stratis networks
  • New improved responsive User Interface (UI) for the block explorer

Business Updates

Further to our development update, our business development team were also busy with a number of key engagements detailed below:

Stratis Listing on Crypto.com

We are pleased to have this month listed STRAT on Crypto.com, the global payments and cryptocurrency platform. You can see the full announcement here: https://blog.crypto.com/crypto-com-lists-stratis-strat/
Users that hold STAT in the Crypto.com app are being rewarded with the offer of a STRAT staking bonus, operating on a monthly basis. Full details of the scheme and the MCO Staking Booster can be are available on the exchange’s blog post here: https://blog.crypto.com/crypto-com-app-strat-staking-bonus/

Stratis & the Technical University of Munich

Stratis was invited by the Technical University of Munich (TUM) to contribute to its survey on Entrepreneurial Financing.
TUM is one of Germany’s most prestigious universities and regularly features highly in the Times Higher Education World University Rankings and QS World University Rankings®. It is known for its strong science and technology research and close ties to business and industry.
We were pleased to contribute as part of our support for unbiased, respected research that leads to the advancement of blockchain technology.

Kookmin Bank visit to Stratis HQ

One of the hottest topics with enterprise clients right now is Digital Transformation, or ‘DX’ as it called by IDC, one of the leading analyst houses. IDC’s research shows that between 2013 and 2017, companies engaged in digital manufacturing, as one example, grew both their revenue and profits steadily, while non-digital manufacturers saw both their revenues and profits fall by between 2% and 3% year-on-year.
It is clear that for businesses to succeed in the modern age, they have to understand DX. This is especially true in the banking industry where so-called ‘challenger banks’ are entering the market with radical new, mobile-only propositions to slash costs and appeal to the current generation of digital natives who have grown up with smartphones.
The Stratis team was therefore pleased to welcome senior members of Kookmin Bank, one of the largest in Korea, to the Stratis offices in London recently to discuss our technology. A wide range of topics were covered, centering around the bank’s interest in the role of blockchain in Digital Transformation. According to IDC, by 2021, 82% of revenues derived from DX will be ecosystem-driven and blockchain is a key technology for establishing the trust necessary for those ecosystems to thrive.

 
 

Stratis Monthly #6

July saw the successful release of the Cirrus Sidechain, secured by the Cirrus Sidechain Masternodes. By performing rigorous testing within our Stratis Coherence Suite, we were able to ensure a smooth release. This shows the benefit of Stratis Coherence Suite to cater for full end-to-end testing within a short time frame, enabling developers to have complete confidence in the public release of a product.
Shortly after the release of the Cirrus Sidechain, the first smart contract was executed on-chain – an ERC-20 equivalent named SRC-20 which allows anyone to issue their own token with just a few clicks within the Cirrus Core wallet. This landmark moment was the first time a smart contract has ever been executed on a platform built entirely from the ground up in native C# on Microsoft’s .NET framework.
We now look forward to releasing Cirrus Core 2.0 in the coming weeks, bringing one-click token issuance and full token management allowing you to manage issued tokens with ease.

Development Update

A total of 79 commits were made during the month of July, this encompassed 388 file changes and 5,613 additional lines of code. A summary of the key developments can be found below.

  • Enhancements to P2P Feature
  • Improvements to Mempool
  • Cirrus Network changes
  • Optimizations to Federation Wallet
  • Improved P2P error handling
  • Development of account-based wallet model
  • Updates to Token Support within Cirrus Core

SegWit Update

Development of the Stratis implementation of SegWit has been proceeding smoothly. Both mining and staking of SegWit transactions and blocks has been tested, with these test scenarios becoming a permanent part of the integration test suite. Additional test coverage has been added to verify interoperability of SegWit-capable nodes with nodes running older software on the same network. This will help to ensure a seamless upgrade in future.
Several improvements have been made to the Stratis Full Node’s mempool implementation, enhancing its support for SegWit transactions and validation of all transaction types in general. Regression testing will soon begin, after which SegWit functionality can begin to be activated on the Stratis mainchain.

Stratis Academy

We are also pleased to announce the Stratis Academy is now open-source, allowing anyone to contribute and suggest changes via GitHub.
A new article has been added. detailing the Smart Contract deployment process on the Cirrus Sidechain.
https://academy.stratisplatform.com/SmartContracts/DeployingSmartContract/deploying-smart-contract-on-cirrus.html
In light of the Stratis Academy becoming open-source, we are excited to announce we will award a total of 1000 STRAT to the top three contributors in August. The prize fund will be split into 500 STRAT/300 STRAT/200 STRAT to the first, second and third winners, based upon contributions made.

Stratis appoints Luther Pendragon

Stratis has appointed Luther Pendragon to lead its corporate communications strategy. Luther Pendragon is a communications agency with a 25-year track record of advising clients around the globe. It will advise Stratis on its communications and marketing activities as we target new enterprise customers and further build our developer base.

Uganda backs Stratis partner MediConnect in fight against fake drugs

The Ugandan government has signalled its support for MediConnect’s blockchain solution, which runs on the Stratis platform, to tackle the country’s counterfeit medicines problem.
It follows a meeting in July in Kampala between MediConnect, the President of Uganda, Yoweri Museveni, and other high-level government officials.
A delegation including Dexter Blackstock, CEO of MediConnect, explained how it is developing a blockchain solution to track and trace drugs all the way through the supply chain. According to Ugandan National Drug Authority, 10 per cent of drugs prescribed in the country have counterfeit copies sold on the market. The meeting attracted media coverage in the UK and Africa, examples of which can be seen at: Cointelegraph-Uganda to Deploy MediConnect’s Blockchain Platform for Tracing Fake Drugs; and Nottingham Post-Dexter Blackstock gets support to tackle Uganda’s fake drug problem.
Dexter Blackstock, CEO of MediConnect, commented: “We see this as an important opportunity for MediConnect to form part of Uganda’s national infrastructure and protect its citizens by ensuring all drugs in circulation are authentic and safe.”

Stratis contributes to teQatlas research into blockchain benefits

Stratis was pleased to contribute to research by Swiss-based market intelligence provider teQatlas. We took part in their recently published report “Emerging Technologies for SMEs: Blockchain, AI and IOT, Use Cases, Opportunities and Challenges”.
The full report is behind their paywall, but our CEO and founder, Chris Trew, is named-checked as a contributor here. Stratis also features in the teQatlas Products & Services directory on their website here.
One of the issues highlighted by the report is how SMEs mistakenly think emerging technologies such as blockchain are for large enterprises. The study shows how firms can use them to optimize their business processes, cut costs and outperform the competition.

Leading university ETH Zurich puts focus on Stratis in technology study

Stratis has taken part in a study on the inner structure of distributed ledger technology by prestigious Swiss technical university ETH Zurich.
It is part of a European research project called FuturICT2.0. The project is looking at ways of harnessing innovative technologies to tackle threats such as resource shortages, climate change and economic dislocation. It brings together expertise in cutting-edge areas such as big data, AI, and blockchain.
One aim of the research is to devise new financial incentive systems to foster sustainable community behaviour and Stratis was pleased to be one of first projects they chose to look at.

Stratis Monthly #5

The month of June focused on the delivery of the Sidechain Masternode release for the Cirrus Sidechain. This delivery was successfully made on-time on the 1st July 2019, allowing anyone to perform cross-chain transfers and actively begin developing Smart Contracts in C# to deployed on the Cirrus Sidechain.

Development Update

A total of 53 commits were made during the month of June, this encompassed 131 file changes and 4,217 additional lines of code. A summary of the key developments can be found below.

  • Introduction of time off-setting and WAN emulation within Stratis Coherence Suite
  • Improvements to feedback from the Address Indexer
  • Enhanced logging for several components of the Full Node
  • Optimizations to Address Indexer
  • Development of Stratis Masternode Dashboard
  • Revisions to the exchange of peer address data during node handshake
  • Additional diagnostic API endpoints
  • Improvements to feedback from the Collateral Checker
  • Corrections to accuracy of wallet staking balance
  • Increased throughput possible for federation wallet transactions
  • Efficient signing of larger transactions

In addition to the development of the platform, the business development team have been busy engaging with prospective clients and organizations within the blockchain space.

Stratis working with global provider of market intelligence, IDC

Stratis is playing its part in the debate on the development of blockchain technology and the wider market. We are working with International Data Corporation (IDC), a global provider of market intelligence and advisory services for the technology market.
Many of the world’s largest enterprises use input and advice from IDC to make technology buying decisions and formulate strategy. Stratis is a member of IDC’s Research Innovation Council on blockchain, where it contributes alongside some of the technology sector’s best known and most innovative companies.
According to a report earlier this year from IDC, Worldwide Semiannual Blockchain Spending Guide, worldwide spending on blockchain solutions is forecast to be nearly $2.9 billion in 2019, an increase of 88.7% from the $1.5 billion spent in 2018. IDC expects blockchain spending to grow at a robust pace over the 2018-2022 forecast period with a five-year compound annual growth rate (CAGR) of 76.0% and total spending of $12.4 billion in 2022.

Stratis presents to Industrial Bank of Korea

Stratis presented our DLT Solution to 75 delegates from Industrial Bank of Korea, headquartered in Seoul, South Korea.

South Korea is a hot spot for DLT technologies and this was a valuable opportunity for us to showcase our products and services in front of one of Asia’s most influential financial services groups.
We are also discussing future opportunities to present to similar trade delegations from major businesses in sectors such pharmaceuticals, healthcare and financial services.
With the launch of our Cirrus Sidechain Masternodes this month, it will now be easier, cheaper and faster for developers to build DLT and Smart Contract functions bespoke to their business needs. Stratis is committed to making it easy for businesses to adopt blockchain solutions and we believe our technology can greatly benefit large enterprises and financial services companies as well as government organisations whose systems operate within Microsoft’s .NET framework.

Stratis attends All-Party Parliamentary Group on Blockchain

To keep up with the latest thinking on the impact of blockchain, Stratis is participating in the All-Party Parliamentary Group (APPG) on Blockchain. We have attended evidence sessions at Westminster to gain insights from contributors from all corners of the industry.
The APPG states that its mission is: “To ensure that industry and society benefit from the full potential of blockchain and other distributed ledger technologies (DLT) making the UK a leader in blockchain/DLT’s innovation and implementation.”
Sessions this year have looked at blockchain and finance, the creative industries, next-generation services, healthcare, energy and environment. Members of parliament, government officials and industry leaders attended the sessions and have been presented demonstrations of real-world blockchain applications designed to educate policymakers.
As blockchain is becoming increasingly mainstream, it is vital that the benefits of the technology are highlighted to government organisations and businesses and we look forward to contributing to the APPG in the future.

Stratis listed in influential EU Blockchain initiative

Stratis was recently listed in the European Union Blockchain Observatory and Forum. The project was launched in 2018 to accelerate blockchain innovation and the development of the blockchain ecosystem in the EU and to help cement Europe’s position as a global leader in this transformative new technology.
Its mission is to monitor blockchain initiatives in Europe, produce a comprehensive source of blockchain knowledge, create a forum for sharing information and opinion and make recommendations on the role the EU could play in blockchain.
Observatory and Forum partners include ConsenSys, the University of Southampton, the Knowledge Media Institute at the Open University, University College London, and the Lucerne University of Applied Sciences.
Stratis is listed on the organization’s website as an open source project, multinational in scope, with a long-term vision to develop blockchain technology in C# on Microsoft’s .NET framework.
The Observatory and Forum’s June newsletter includes publication of an academic paper on Blockchains and Digital Assets Blockchains and Digital Assets by the University of Southampton. One of its conclusions is that “appropriate regulation is positive and will benefit all actors”.

Stratis Monthly #4

As we move closer to the release of the Stratis Sidechain Masternodes, we have progressed extremely well with the current focus almost exclusively centring on testing and finalizing any outstanding items prior to the community testing phase.

Development Update

A total of 109 commits were made during the month of May, this encompassed 392 file changes and 14,219 additional lines of code. A short summary of the developments relating to the Stratis Sidechain Masternodes can be found below.
• Improvements to wallet transaction tracking
• Enhance the stability of the peer connectivity
• Reduction in indexing resource consumption
• Implementation of ‘burning’ STRAT for Sidechain withdrawals
• Optimization of the Federation wallet
• Introduction of a dynamic fee/reward for Masternodes
In addition to the core development, work has also been undertaken to deliver an additional wallet catering for the Cirrus Sidechain. A preview of the Cirrus Core wallet can be found below.

The Coherence Suite plays a pivotal role in allowing us to test edge cases within short timeframes. When testing many interconnected blockchain nodes it is important to monitor the overall network health through log interrogation. Contrary to the single instance scenario where a number of log files are relatively small, the whole network log monitoring is a more involved task.
Utilizing the Exception Viewer tool within  the Coherence Suite, the log monitoring begins before the node itself has started. A precise design of the NLog configuration targets specific components with additional tracing provided by Fody.
When the nodes are running, we periodically execute a scan across the whole network and automatically classify logs based on predefined rules. This approach allows us to pinpoint key areas of interest.

Stratis Monthly #2

Another month has passed since our initial monthly update. This month the focus has primarily revolved around the development of the Sidechain Masternode.

Full Node Development

During the month of March, the Stratis Full Node team has delivered 2 releases. A total of 124 Pull Requests were merged into the codebase during this period.
Development for the most part continued to focus on stability and performance of the Full Node. In addition, attention has been drawn to RPC capabilities to ensure readiness of exchanges transitioning to the Full Node. This is a crucial step in moving to a network secured entirely by the Stratis Full Node.
The most notable changes and enhancements to the Full Node is listed below:

  • Addition of RPC methods for exchange support
  • Addition of various API endpoints
  • Denial-of-Service prevention
  • Improvements to the node’s Peer-to-Peer layer
  • On-going improvements to our unit and integration test suite
  • Reduced memory footprint

The latest version of the Stratis Core wallet contains the 3.0.3 version of the Full Node and can be obtained from our wallets page below.
Stratis Wallets

Sidechain Development

The development of Masternode features is nearing completion, including key developments to greatly improve the end-user experience.
Major developments during March can be found below:

  • Added functionality to Sidechain Dashboard
  • Creation of PowerShell Core setup script
  • Design of on-chain registration
  • Implementation of collateral management
  • Implementation of voting endpoints

A preview of the Sidechain Dashboard can be found below, the dashboard will be used to monitor and manage the Sidechain Masternode.

Privacy Protocol for STRAT

As mentioned in our community Discord last week, we are actively developing a Privacy Protocol solution for STRAT.
The further development of the Privacy Protocol will include a new version of the Breeze Wallet with enhanced security. In addition, we are working on bringing Segregated Witness support to the Stratis network to enable native Privacy Protocol support.
These are exciting developments that will bring further utility to the Stratis Token, offering the ability to improve the level of privacy with the STRAT token.

Full Node on Microsoft Azure

As a result of our relationship with Microsoft we received a Tweet from the Microsoft Azure twitter account highlighting the Stratis Full Node’s availablility on the Azure Marketplace.

London Blockchain Expo Global 2019

In less than four weeks, the Blockchain Expo Global 2019 will kick off. It’s an exciting time for us particularly as we will be arriving with several innovations under our belt. The Blockchain Expo Global is all about showcasing where blockchain is heading, and we have speakers scheduled to talk about two key Stratis technologies: Smart Contracts and DLT.

Stratis is once again a Platinum Sponsor for this event and will be showcasing our newly designed booth and can be found on stand 461.
Be sure you visit by obtaining a ticket from https://blockchain-expo.com/global/

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