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Token Swap FAQ

As the voting has now ended the next stage is the Token Swap process from STRAT to STRAX. We have received several questions we would like to address in this short FAQ.
 

When is the STRAX swap window?

The Strax Swap window is from the 15th of October 2020 until the 12th of November 2020 at 9 AM GMT.
To be eligible to receive STRAX Tokens on day one you will require to perform the token swap during this period.

Will there be an additional participation window to complete the swap?

Correct. An additional participation window will exist until the 15th of October 2021 at 5 PM GMT.
Token Swap requests during this period will be subject to a manual validation process.
Please note: Token Swaps made after the initial Token Swap window will be based upon a snapshot taken at 9AM on the 12th of November 2020. Any balance acquired after the snapshot will not be accepted in the Token Swap.

Will STRAX tokens be burned?

Correct. STRAX Tokens that remain unclaimed will be irreversibly destroyed on the 16th of October 2021.

I have tokens on Cirrus, Do they require to be swapped during the first participation window?

No, the tokens on cirrus can be swapped from Cirrus to STRAX once the STRAX blockchain is live.

When will a Block explorer be available on the STRAX blockchain?

On the 12th of November once the STRAX Mainnet is live.

How many STRAX will I receive?

STRAX are distributed on a 1:1 basis. 1 STRAT can be swapped for 1 STRAX.

Once I have swapped, when do I receive my STRAX Tokens?

On the 12th of November once the STRAX Mainnet is live.

Will STRAX have exchange support?

We are in contact with several exchanges. Those who are in support of the Token Swap will make their announcements and define their preferred processes.

What will happen to the name “Stratis” on exchanges?

The name Stratis will stay the same. Only the token ticker will change from STRAT to STRAX.
 

What happens if there are unclaimed balances after the swap window has passed?

STRAX Tokens that remain unclaimed will be irreversibly destroyed on the 16th of October 2021.
 

Where can I find a guide on how to swap my tokens?

The simple steps can be found here: https://www.stratisplatform.com/2020/10/15/strax-token-swap/.

How to find out how many STRAT has been swapped to STRAX till date?

The current Token Swap progress can viewed by running the Extraction Tool: https://github.com/stratisproject/StratisFullNode/blob/master/src/SwapExtractionTool/README.md

Please show an example of a swap transaction?

https://chainz.cryptoid.info/strat/tx.dws?f38158dd941882ee9d9bf70c19e52a9f36bcf74b6e1a354c664bb327f0ffcf54.htm
The ‘Raw transaction’ you will see that the exact amount of STRAT is added as the value on the vote of an OP_RETURN script. Look up OP_RETURN burn you will see that it is a legitimate way of making coins unspendable which leads to burning them.
 

When will STRAX trading markets be live?

 This will be announced by the respective Exchanges who support the Token Swap.

Can I still stake STRAT till the last day of he swap first participation windows?

 Yes, but you will require to swap from STRAT to STRAX before the 12th of November 2020 at 9 AM GMT to be eligible to receive STRAX from day one.

Why doesn’t my STRAX wallet sync?

The STRAX Mainnet is not operational until the 12th of November 2020.
 

After I have performed the swap, why haven’t I received my STRAX?

 You will receive the STRAX tokens once STRAX Mainnet is operational on the 12th of November.

Which blockchain enhancements will be integrated when STRAX Mainnet is live?

  • Block Reward Stake increase
  • Block Time Reduction
  • Chain Transactions
  • Cold Staking
  • Dynamic Membership
  • Removal of StratisX Legacy nodes
  • SegWit Activation
  • Sidechain Incentivization
  • Time reduction in Cross-Chain Transfers

 

Where can I receive additional support?

For further technical support on the swap procedure, you can join our support channel on Discord at https://discord.com/invite/9tDyfZs where we have personnel standing by to assist you.

As always, we would like to thank our community for their continued support.

STRAX Token Swap

The STRAX Token Proposal vote has now come to a close, resulting in a vast amount of token holders voting in favour of the STRAX proposition. You can find a summary of the final vote statistics below.

Total Weight: 7907384.1935404 STRAT
Total No Weight: 2.46% [194185.77115927]
Total Yes Weight: 97.54% [7713198.42238113]

We are now progressing with the Token Swap and are now able to detail the process further and publicize dates that the token swap will commence. We must clarify that the STRAX Token will supersede the existing STRAT Token. As such, all future development activity will be undertaken against the STRAX Blockchain on the StratisFullNode codebase.
Significant effort has gone into both the development and acceptance testing to ensure the Token Swap process is as smooth and seamless as possible. Rest assured that we have spent a great deal of time assessing the Token Swap procedure, ensuring that the end result brings the most benefit to the Stratis ecosystem.
The Token Swap process is just the beginning for the vision we have for the STRAX Blockchain. As mentioned in our previous announcement; no longer are we constrained by legacy codebase clients maintaining the network, allowing innovations and new feature integration to be achieved much more efficiently. Furthermore, the revised tokenomic structure and dynamic masternode membership will provide further incentive for token holders to participate in securing the network, further increasing levels of decentralization.

For further clarity, please refer to the below Token Release Schedule for the STRAX Token.



We must highlight that the above charts reflect the assumption that all STRAT Tokens are swapped for STRAX Tokens. STRAX Tokens that remain in the Token Swap Allocation will be burned after participation windows close.
Third-party services that are utilizing the STRAT Token are actively being encouraged to supersede any support of the STRAT Token for the STRAX Token at the end of the initial Token Swap period. If you are a service provider and have any questions or have not been contacted, please reach out to us via our Discord Server or at [email protected].

Swap Process

As the initial Token Swap window has now come to a close, please follow the updated STRAX Token Swap process, found here.

Participation Windows

The STRAX Token Swap window be available until 5PM GMT on the 15th October 2021. Token Swap requests submitted during this period will be subject to a defined process. A detailed process guide for requesting a Token Swap after the STRAX Token Swap window will be released in due course.
The remaining Token Balance within the Token Swap Fund will be irreversibly burned on the 16th October 2021.

Token Distribution

STRAX distribution will be performed by an automated script that will be executed on 12th of November 2020 crediting those who have participated in the initial Token Swap period
Token Swap requests after the initial Token Swap period (NOW (15th October 2020) until 9 AM GMT on 12th November 2020) will be subject to an additional defined manual process to prove ownership of funds instead process defined above.

Exchange Support

We are happy to announce that the Token Swap will be supported by several exchanges. Announcements from the respective exchanges that are supporting the Token Swap will become available in due course, highlighting any deposit and withdrawal freezes of the STRAT Token.

Introducing STRAX

Since the inception of the Stratis Token and the Stratis Blockchain, there have been several innovative developments that have come out of Stratis’ Research and Development team(s). When the Stratis Token was initially issued, it was upon a blockchain that was maintained and secured by a modified instance of Bitcoin.
A multitude of factors has driven the Stratis Platform development over the past four years; we are very fortunate to have a strong community of blockchain specialists and enthusiasts. An innovative internal team complements this community with Stratis’ business development, engaging with over 50 company executives to understand the challenges and pitfalls with successfully integrating blockchain technology through digital transformation.
Stratis stayed true to their promise of developing a Blockchain Development Platform on the .NET Core Framework in C#, known as the Stratis Platform. This development introduced several innovative products and features that can only be supported if the newly developed Stratis Full Node maintains the network. Furthermore, thanks to general enhancements made possible by Stratis’ design decisions through the development of the Stratis Full Node, properties of the blockchain can be improved to create higher levels of efficiency.
In addition to technological advances achieved through design and development practices, there are also crucial changes to the ecosystem and tokenomics of the blockchain. Efforts have been made to introduce such features; however, those actions are reliant upon the Stratis Blockchain being maintained by the Stratis Full Node, and not the legacy staking wallet. Something that has not been possible due to the trust-less and decentralized nature of the Stratis Blockchain, properties that we, of course, wish to retain.
Because of challenges presented with the Stratis blockchain, we have opted to perform a Token Swap to a newly provisioned blockchain, incorporating innovative features and crucial changes to the tokenomics of the Stratis Platform. By completing a Token Swap and creating a new blockchain, multiple improvements and feature additions can be achieved without fear of maintaining a heterogeneous network and introducing multiple forks and votes. Furthermore, the minting of additional tokens will enable the continued development of the Stratis Platform and assist further growth of the platform through third-party engagements and relationships.
This document describes the purpose of the STRAX Token, the features inherent on the STRAX Blockchain and details the STRAX Token supply and distribution.

STRAX Initiative

The creation of the STRAX Blockchain provides a vanilla environment for the STRAX Foundation to begin rapid growth, utilizing the blockchain technology platform that has been developed over the past three years. We realize that the landscape within blockchain technology is rapidly changing, creating a need for re-alignment of priorities and apparent business adoption. The existing development of a blockchain development platform, built from the ground-up on the .NET Core Framework enables flexibility and allows us to develop in an agile manner without barriers, blocking development.
The launch of the STRAX Blockchain will see a simultaneous release of an updated roadmap, highlighting the initial goals and objectives that will be set forth for the team. We believe that our platform provides a fantastic platform for the development and deployment of DeFi based Smart Contracts. This is thanks to our utilization of an enterprise development language and framework, one that undergoes significant review and is heavily scrutinized by a seasoned audience. Furthermore, our ability to scale through the use of sidechains in a decentralized manner removes challenges that are currently experienced by heavily utilized and congested platforms. A focus on the digital transformation of traditional finance will pave the way to introducing new services on the Stratis Platform. By providing a trusted environment alongside incentivization schemes for third-parties to deploy alternative financial solutions.
In addition to a focus on DeFi, a significant number of tokens have been reserved to incentivize network growth. These tokens will be employed to encourage the migration of mature and established projects deployed on alternate platforms. These projects will be hand-picked and targeted by the Stratis Foundation, assisted by Stratis Consultancy to ensure the seamless transition to the Stratis Platform, as proven with prior engagements. The introduction of such projects on the Cirrus Sidechain will fuel the network, creating opportunities for masternode operators through the utilization of on-chain solutions developed by Stratis, such as; Stratis IdentityTrust.
The Stratis Platform has seen us deliver many functional products, ranging from wallets that incorporated innovative and truly trustless privatization features, to packaged solutions for businesses. This year has seen a significant focus on researching and developing private blockchain solutions, to cater for those dealing with sensitive data; an unequivocal need. The development and integration of features such as confidential data handling and channel management are crucial when providing a platform for real-world businesses. As we move forward, advancing development tools and surrounding libraries will become a significant focus, enhancing the developer experience when deploying on the Stratis Platform. Through existing research and development, a wealth of internal knowledge and more importantly, blockchain expertise, Stratis is geared to flourish in the Blockchain 4.0 landscape.

Blockchain Enhancements

Several optimizations have been incorporated into the Stratis ‘STRAX’ Blockchain; these enhancements provide many benefits for users of the platform. These optimizations range from introducing a revised tokenomic model to technical enhancements that provide increased on-chain security with the potential to increase levels of decentralization further. Community-focused features such as dynamic masternode membership will undoubtedly captivate interest from existing and those who are new to the Stratis Platform.
A high-level overview of the most notable enhancements can be found below.

Block Reward Increase and Cirrus Sidechain Incentivization

The block reward has been altered, so each mainnet block produced provides a reward of 18 STRAX, thus adjusting the annual inflation rate from 0.5% to just over 10%.
Of the 18 STRAX block reward, 9 STRAX is retained by the block producer. The additional 9 STRAX are sent to the CIRRUS Sidechain and distributed to all block producing Masternodes.
This alteration to the block reward, coupled with the sidechain incentivization provides a necessary revamp to the Stratis tokenomic design. These changes increase Staking Rewards for those staking the STRAX Token to over 150%, as an example, those currently receiving 1 STRAT Staking reward per day, will now receive, on average, 13 STRAX, per-day; based upon current staking weights on the Stratis Blockchain.

Block Time Reduction

Block Time has been successfully reduced to 45 Seconds, thus providing a higher Transactions Per Second and a decrease in time for transaction validation. To put this into context, this reduction in Block Time equates to the creation of an additional 208,050 Blocks in a calendar year.

Cold-Staking Activation

The activation of Cold-Staking provides holders of the STRAX Token the ability to obtain through ‘Staking’ STRAX Tokens that are held within an offline wallet, such as a Ledger Nano.
This provides additional security and has the potential to increase levels of decentralization through more security conscious holders participating in securing the network through staking.

Cross-Chain-Transfer Time Reduction

Through feedback received from the development community and through our efforts to increase adoption rates of our Stratis Smart Contracts solution, the STRAX Blockchain will offer a reduced time-window for performing cross-chain transfers.
Historically, such transfers would be subject to an eight-hour delay to ensure transaction validity. This window has now been reduced to under for mainnet transfers of STRAX to CRS. Improving on this Cross chain faster payments of 50 STRAX or less are processed in just over 15 minutes (25 Confirmations).

Improvement to Blockchain data stores

As part of the Stratis Full Node development for STRAX, we have rearchitected our existing datastores with Google’s LevelDB data storage solution. Such a change has seen drastic improvements to synchronization times whilst also bringing a reduction in memory consumption and disk space usage across all nodes.

Increase of OPRETURN Capacity

The size of a standard OP_RETURN (nulldata) output has been increased to 83 bytes, to match the size used on the Bitcoin network. This expands the potential utility for such transactions on the STRAX Blockchain, as it will be simpler for nodes to get their transactions propagated when the additional space is required. For example, where it would previously only be possible to store a single transaction ID or block hash, it is now possible to store two. This is useful for attestation protocols or for tagging specific transactions with additional metadata or signatures.

Masternode Dynamic Membership

The introduction of Masternode Dynamic Membership provides the ability for new block producers to join the federation with ease, further increasing the levels of decentralization and security of the Cirrus Sidechain. The new functionality enables anyone meeting the defined collateral requirement to create a vote requesting their unique mining key be added to the federation. Existing federation members will autonomously vote in favour of such a request if the mining key is valid and collateral requirements are met.
To ensure consistent block production and block timings on the Cirrus Sidechain, online federation members must remain online. As it stands, those who do not remain online and subsequently miss their block production slots are currently not penalized. In parallel to the STRAX Blockchain launch, additional rules will be introduced on the Cirrus Sidechain. These rules will autonomously enforce the removal of federation members who consistently miss their mining slots, this, in turn, results in a fair distribution of block rewards transferred from the STRAX Block production and ensures a consistent block time.
Dynamic membership also provides the ability for new block producers to join the federation, further increasing the levels of decentralization and security of the Cirrus Sidechain.

Masternode Collateral Increase

In addition to the implementation of Dynamic Membership, after careful consideration, we have also opted to increase the collateral requirements for new Masternodes joining the federation. Currently, only 10K STRAT is required to operate a block producing Masternode on the Cirrus Sidechain.
This change is necessary to increase the levels of distributed staking weight on the blockchain. With the newly introduced tokenomics, offering a share of 9 CRS Tokens for every mainchain block produced, the incentive is clear. Existing Masternode operators will retain their current collateral requirements; however, if you are removed from the federation due to missing mining slots, your historic collateral requirement cannot be honoured.

Removal of Legacy Node Support

The STRAX Blockchain will initially only support interconnectivity between other instances of the Stratis Full Node. We will be removing support of any other staking nodes, such as the legacy Stratis Token Node and Stratis QT Nodes. The removal of legacy node support removes the complexities associated with a heterogeneous environment, providing confidence in expected behavior with newly enabled features.

Segregated Witness Activation

Segregated Witness (SegWit) will be activated on the STRAX network by default. SegWit capability has been actively used on the Bitcoin network (among others) for an extended period and has proven itself to be a robust protocol improvement. Usage of SegWit provides several benefits to the STRAX network.

  • A significant increase in the number of transactions that fit in each block, thus increasing transaction throughput of the STRAX Blockchain.
  • Increased transaction security, as transaction IDs are no longer malleable.
  • A built-in upgrade path for future updates to the script language used in STRAX transactions.
  • The ability to introduce new types of transaction signatures and scripts. i.e. Schnorr signatures and taproot.

 

STRAX Roadmap Items

Stratis DAO
To further aid in the growth of the Stratis Platform,  the deployment of a decentralized autonomous organization contract will take place on the Cirrus Sidechain, with the sole purpose of funding developers building solutions using Stratis Technologies. The DAO Contract will enable token holders the ability to vote for funding of teams and individuals who are actively developing solutions on the platform. An allocation of 5,000,000 Tokens from the initial distribution will be set aside to fund the Stratis DAO Contract.

Stratis Oracles
The development and deployment of Stratis Oracles on the Cirrus Sidechain will enable the development and deployment of new decentralized applications that were previously not possible. The introduction of decentralized, secure and reliable Oracle Service will provide a collection of ever-growing external data points that can be used to build applications for any use-case.

DeFi Software Library 
A team will be constructed with a sole focus on developing decentralized finance solutions, deployable on Stratis Technologies such as the Cirrus Sidechain. A focus on existing popular solutions that have been made available on alternate Blockchain platforms will enable us to efficiently deliver an initial library of DeFi Applications, ready for immediate deployment for truly decentralized finance solutions.

Proof-Of-Stake V4
We already have several optimizations and new features that we plan to integrate into the Proof-of-Stake to both improve security and increase the level of possible scale. A lot of our innovation can be accredited to our developments within both private and non-private blockchain solutions. Features developed within either environment are transferrable, within reason, thanks to our feature-based solution. Expect features such as; Private Data, Channels (sharding) to be introduced as well as improvements to transaction finality and nothing-at-stake complexities.

Ethereum Interoperability 
Following up on the successful development of a ‘Blockchain Bridge’ that enabled interoperability between Stratis’ DLT Solution and Hyperledger Fabric; a focus on achieving Ethereum interoperability with the Cirrus Sidechain will become a goal. This development will enable the seamless transition of existing Ethereum solutions and will enable existing Stratis solutions to leverage Ethereum dApps if and where necessary.

Unity Gaming Software Development Kit
The Unity SDK and other technologies within the .NET Family are a significant focus for Stratis in 2020. Integration within the Unity development focus will continue to be a focal point for further development.

IoT Software Development Kit
The Stratis IoT SDK will contain libraries that simplify building applications interacting with Stratis Technologies to manage devices and security—providing an ability to interconnect IoT devices to Stratis Blockchain Technology through an ultra-lightweight client.

Python Software Development Kit
According to recent polls, Python has become one of the most popular programming languages as of recent times. To attract audiences from different development backgrounds, an SDK will be provided to facilitate developers building solutions on top of Stratis Technologies.

Stratis System Contracts
Thanks to the successful implantation and activation of SegWit on the STRAX Blockchain, we are now able to incorporate what we refer to as ‘System Contracts’ on the STRAX Blockchain. This enables us to incorporate logic that is validated autonomously by the network, much like Smart Contracts, but only a strict set of System Contracts will be deployed; subject to a majority signal.

Stratis Mobile Wallet for iOS and Android (Token Support and DEX Support)
The Stratis Mobile Wallet will be extended to offer Cirrus Sidechain support, enabling users to keep track of SRC20 Tokens and SRC721 Assets on their mobile device. In addition, we will be supporting the Stratis Swap project by including support to enable decentralized exchanges of tokens from within our mobile application.

Token Purpose

STRAX is the cryptographic token that will fuel the Stratis Blockchain and can be used to purchase and/or operate certain services via the Stratis Platform. Subscribers (and current holders of STRAX) are able therefore to use STRAX:

  • to receive a token on a sidechain that can be used to execute smart contracts;

 

  • as collateral to operate masternodes via the Stratis Platform which can result in Subscribers receiving fees;

 

  • to purchase customizable private sidechains (developed by Stratis) that are connected to the Stratis Blockchain (these can be used by the Subscriber to run their own initial coin offering or security token offering),

 

  • subscribe to ICOs and security token offerings that are run by certain third parties using the Stratis Platform; and

 

  • pay for various goods and services using a small number of third-party payment processors.

 

Token Swap Detail

In addition to the technological, functional and tokenomic advancements that are made possible by the transition to a new blockchain. We are also proposing the additional minting of 25,000,000 STRAX Tokens.

Proposed STRAX Supply

The STRAX Token Supply will mirror that of the STRAT Token Supply with an additional creation of 25,000,000 STRAX that will be reserved by the foundation. The additionally minted STRAX Tokens will be employed by the foundation to further grow and boost the Stratis Platform, with a goal of widespread adoption and utilization of Stratis Blockchain Technologies.

Figure 1: STRAX Token Supply


Figure 2: STRAX Token Employment

Additionally minted tokens will be held by the foundation when the STRAX Blockchain is initially created. However, these STRAX Tokens will not be employed immediately; instead, they will be issued over five years.

Figure 3: STRAX Initial Distribution


Figure 4: STRAX 2021 Distribution

Figure 5: STRAX 2022 Distribution

Figure 6: STRAX 2023 Distribution

Figure 7: STRAX 2024 Distribution

Figure 8: STRAX 2025 Distribution

Allocation Definitions

The allocation of STRAX Tokens has been split into three different collections; this provides a clear view of how the tokens will be employed to benefit the Stratis Platform.

Network Incentivization

The Network Incentivization allocation will be utilized to encourage the growth of the public blockchain offerings, primarily through providing bounties and funding hackathon prize pools. As an example, this allocation would fund a global hackathon aimed at developing blockchain solutions within a specific vertical.

Foundation

The Foundation allocation relates to tokens that will be utilized to fund the continued development of the Stratis Platform and contribute towards future business development to accelerate the growth of the platform. As an example, this allocation could be used to fund continued development of the platform and contribute towards day-to-day operations.

Enterprise Incentivization

The Enterprise Incentivization allocation is reserved incentivize enterprises and beneficial third-parties to utilize applications deployed on the Stratis Platform. As an example, this allocation could be used to target successful businesses already utilizing blockchain technology and incentivize them to migrate their solutions to the Stratis Platform.

Proposal Vote

To both clarify and ensure that the community of STRAT Token holders are in favour of our approach to mint additional tokens; we have opted to perform an on-chain vote. This vote will determine whether the detailed approach will be supported and ultimately executed to allow the further growth of the token and associated Stratis Platform and technologies.
We envisage that the vast majority will indeed be in favour of the proposed changes to token supply inherent with the creation of the STRAX Blockchain. However, we understand and are sensitive to the fact that the current Stratis Blockchain is a truly decentralized network, secured and maintained by a large number of staking nodes, both validating and producing blocks. We understand and appreciate that it would be unfair to dictate such changes to the tokenomics and overall token supply without the support of those who have made the current developments possible, the token holders.
With the above in mind; we will hold a 14-Day voting period where token holders can vote in favour or against the proposed changes to the increase in token supply. Each vote will be weighted with a value equal to the balance of the respective voting wallet, to ensure a fair vote and discourage malicious voting.
Such voting functionality has been incorporated into the Stratis Core Wallet, enabling a user to download and install the latest version and cast their vote, whether that be in favour or against the proposed changes.

Participation Windows

The STRAX Token Swap Voting window will be from NOW until the block closest to 17:00 GMT 9th October 2020.
To cast your vote and have an impact on the proposed actions, you must vote within this timeframe, votes made past this date will be not counted in the final vote outcome.

Voting Process

Ensuring the voting process cannot be manipulated to be in favour of a particular outcome is crucial. Therefore, we have opted for an on-chain weight-based vote similar to Proof-Of-Stake consensus.
The voting function records the balance of the voting wallet and their desired voting decisions, whether that be in favour or opposition to the proposed changes. A transaction is created for every address that holds a balance greater than 1 STRAT Token within the wallet. If your wallet has been particularly active, this can equate to several transactions, only a small transaction fee is associated with each vote.
At the close of the voting period, all on-chain addresses will be scanned within the defined voting window, balances of addresses voting in favour will be totalled and compared to those voting in opposition.
For clarity, please refer to the below example.

  • Token Holder A votes ‘In Favour’ with a STRAT Balance of 1000
  • Token Holder B votes ‘In Opposition’ with a STRAT Balance of 500
  • Token Holder C does not cast a vote with a STRAT Balance of 2000

The above scenario would result in an ‘In Favour’ decision.
It’s important to note that funds moved from the wallet will not count towards the voting decision. Furthermore, suppose you do make regular transactions within your wallet, as a result of the in-built privacy features contained within our wallet software. In that case, your addresses may change, resulting in your vote not counting towards the final voting decision.
Voting is made simple by the introduction of new Voting functionality within the latest wallet.

After performing the vote, it is recommended that no further transactions are made from the wallet. You can continue to stake without impacting the vote.
Stratis Core 2.2.1 is now available and can be used to cast your vote in, binaries for all major operating systems can be found below.
Windows x64
Windows x86
OS X
Linux (DEB)
Linux (TAR)
Please direct any questions to our Discord server where a member of the team or our community will be happy to assist.

Stratis Update #13

This bumper-update incorporates key internal development updates along with key information relating to Stratis Technologies and its partners.
A significant amount of focus has been placed on bringing value to our public blockchain solutions, specifically the Cirrus Token associated with the Cirrus Sidechain. This of course inherently brings a benefit to the Stratis Token.
Stratis public blockchain offerings play a significant role in providing a level of decentralisation to the more privatised blockchain solutions.
We hope that this update has provides you with some insight into the activities at Stratis HQ. Our team of distributed developers and professionals have been working relentlessly to bring Stratis Technologies to the forefront of the Blockchain Software Vendor space.
Moving forward, we will look to shift towards providing a quarterly update as this enables us to deliver much richer content for the respective projects we are working on internally.

Development Update:

The Stratis Full Node has provided a solid foundation for further development of features associated with a corporate environment. A combination of our existing extensive knowledge in blockchain technologies and the pre-existing development ethos that ensured extensibility and flexibility of our code; has enabled truly rapid development of new features.
Features such as Stratis Membership Services (SMS), Stratis Channels, Private Data, Blockchain Interoperability, and many more have been incorporated into the solution, resulting in a truly enterprise-ready solution. In addition to these stunning features, we have also developed our own Certificate Authority that comes packaged with the DLT Solution.
As with all of Stratis’ Enterprise-Ready Technologies, these solutions provide the ability to remain resilient through highly-available implementations and also scale horizontally, allowing the solution to grow with both adoption and utilisation.
More in-depth information and documentation will become publicly available in the coming months, including a blog-post for each respective Stratis Product Offering.

IdentityTrust

As we began developing solutions for specific industries, it became evident that a robust identity solution would be required to remove the employment of a centralised digital identity management solution that has become the standard.
This realisation resulted in the further development of an existing Identity product, however, the design has been altered to leverage Smart Contracts. Resulting in a truly decentralised, Self-Sovereign, and claims-based identity solution.
The concept of Self-Sovereign Identity (SSI) is that the digital identity of an individual is wholly owned and controlled by the individual as to who it belongs to. Segments of this identity can then be shared with individuals, organisations, and agencies, etc. with this control being administered by the individual.
A new, re-designed mobile application for both Android and iOS has been developed to complement the newly developed Identity solution. Furthermore, the production instance will utilise the Cirrus Blockchain, both rewarding Masternode Operators and providing a truly decentralised solution.

Asset Management Toolkit

In August 2018, Stratis became the first company to publish a blockchain-based WebApp on the Azure Marketplace, the Stratis ICO Platform. As time progressed, the ICO Platform was further developed to suit the needs of the individuals and companies emerging within the space, this saw the delivery of the Stratis STO Platform that incorporated many changes. Several of those changes being a direct result of our interaction with the Securities Exchange Commission via our partner, Gluon.
Once again, as Stratis Technologies grow with further development, we are presented with the opportunity to revisit solutions and further develop them to leverage these advancements. This is in addition to significant graphical changes to the user-interface to greatly improve user-experience.

As with all of Stratis’ showcases, Stratis IdentityTrust support is available and encouraged by default, highlighting our commitment to ensuring public blockchains are utilised where applicable. To further remove any hindrance of trust, token creation and issuance are now governed by a Smart Contract, enabling a truly trust-less token offering.
Whilst the platform can be employed to issue tokens on-chain to represent shares of a company or entity. It can also be leveraged as an Asset Management System to inventorise physical assets. Furthermore, through industry expert input and design and the platform is geared to become an accredited financial asset management system when combined with a Stratis DLT offering.

SupplyTrust

Another addition to the Stratis product offerings is Stratis SupplyTrust; a blockchain solution for logistics, and supply-chains. Delivering transparency, efficiencies and trust within traditional supply-chains through digital transformation.
Manufacturers, producers, wholesalers, distributors, and every participant within a supply-chain can utilise SupplyTrust product to gain a definitive understanding of the lifecycle of a product.
 
Internet-of-Things (IoT) technology provides the perfect synergy with Blockchain Technology when both delivering solutions within logistics and addressing the issues of trust and security inherent within these environments.
Data such as; temperature and humidity sensors, vibration sensors, and location data are crucial pieces of information. Hashes of this data can be stored on-chain, utilising existing IoT devices to provide transparency and confidence in a solution.
More information revolving around IoT and Stratis Technologies will be announced in due course. The decision to design and develop blockchain solutions leveraging the Microsoft .NET Framework has enabled us to wholly utilise the benefits of a rich ecosystem found with the Microsoft .NET Family.

Interoperability

We are fortunate to have a wealth of in-house experience within enterprise environments, enabling us to foresee scenarios that are all too common in a typical enterprise IT infrastructure.
This knowledge and business acumen drove the design and development of a Blockchain Interoperability Solution. We appreciate that technology decisions made within major corporations are not always consistent, furthermore, we understand that partners and vendors of the aforementioned corporations may also have existing relationships with alternate software vendors.
Blockchain Interoperability paired with the integrated support of established business communication standards forms a highly palatable blockchain solution. For both those who have already performed an internal Proof-of-Concept and are ready to take it to the next phase; alternatively, established businesses who are seeking to implement a blockchain solution whilst retaining compatibility with any relevant third-parties.
The solution currently offers full support for Hyperledger Fabric and can support any platform offering Turing complete Smart Contracts. It is also important to highlight that our Blockchain Interoperability Solution is not solely focused on enterprise deployments. In addition to the clear benefits, it brings to enterprise environments, support for leading public blockchain solutions enables and encourages the migration from alternate public blockchain solutions.

Private Data & Chain-Channels

When it comes to corporations utilising blockchain solutions, data privacy is imperative. To put that into context, envision a blockchain solution that incorporates data and input from multiple organisations.
Whilst data stored on the respective ledger may not be humanly readable, i.e. a hash of data. Legislation and governing policies will undoubtedly frown upon and restrict the sharing of senstivive data. Therefore, a solution that provides the ability to restrict and control access to the aforementioned data is crucial if it is expected to be implemented in a production environment.
The development of Stratis Private Data and Stratis Chain-Channels and combined utilisation provides organisations the ability to store sensitive data within a separate ledger, whilst retaining a relationship with the primary ledger. This concept allows for role-based access controls to be put in place for such data to be accessed.
Furthermore, expiration dates can be enforced for privately stored data, ensuring that data is purged after a defined period or event. Such functionalities are crucial when considering regulatory requirements such as the General Data Protection Regulation.
These features are essential when considering the adoption of such technology within corporate and enterprise environments. The ability to promptly develop and integrate such features is a testament to the extensible foundations developed by Stratis.

Infrastructure as Code

As we brace ourselves for Enterprise Deployments of Stratis Technology, we recognise that we must not be tied to a specific Infrastructure-as-a-Service Solution with the solution we provide. Furthermore, it’s also imperative that we can ensure consistency with supported deployments to aid the support process if an issue was to arise.
Enter Kubernetes.
We have now designed and implemented both development and production environments for both public and private solutions leveraging Kubernetes. The utilisation of Kubernetes allows us to take advantage of the feature-rich framework provided.
This enables, but is not limited to;
• Simple Command Deployment
• Resiliency
• Self-Healing Solutions
• On-Premise, Hybrid or Cloud environment support

Wallet Update

The updated Stratis Core Wallet has completed its extensive release candidate phase and will shortly be released. We will actively encourage stakers to migrate to this wallet as it is the only released wallet that signals for Cold-Staking activation.
The current status of Cold-Staking activation can be viewed on the community ran stratis.guru website.
Stratis Core 2.0 incorporates a change to the way wallets are stored on disk, this change results in significant increases in performance resulting in a greater user-experience when restoring and/or resyncing a wallet. Additionally, there has been a change to the User-Interface as a whole to increase the overall experience.
The Cirrus Core Wallet has also seen enhancements, similar to the aforementioned changes to the Stratis Core 2.0 Wallet. There have also been some changes to the way user-addresses are displayed, specifically within the Token Management panel, as a result of community feedback. The release of the Cirrus Core Wallet will follow shortly after the release of Stratis Core 2.0.
Feedback received by the community is truly invaluable and enables us to confidently release our wallet software. We would like to thank those that participate in the community testing and provide their feedback through the relevant channels.

Stratis Academy

The Stratis Academy has undergone a restructure. This results in developers being able to navigate the Academy more pragmatically.
More importantly, in addition to the restructure, public API’s for all Stratis Networks is now available and ready to be interacted with. This enables developers to interact with Stratis Blockchains without the need to have their own fully synced node.

Descriptions and examples have been created for all available endpoints too, ensuring there is an adequate explanation as to what you can expect from the endpoints.
https://academy.stratisplatform.com/swagger/


 

Hackathon Update

Following on from the successful Stratis Smart Contract Challenge that saw several fantastic business use-case developments using Stratis Technology. Another Hackathon has been launched, specifically focusing on how Stratis Blockchain Technology can assist with the current pandemic.
The #BlockchainCOVID19 Hackathon is an opportunity for developers to build software solutions that tackle challenges that have been highlighted by the current coronavirus (COVID-19) pandemic.
Stratis Blockchain Technology can provide efficiencies, clarity, transparency, and traceability within one of the many industries affected by the current pandemic. A number of these industries have been highlighted on the #BlockchainCOVID19 landing page. To further assist developers, both new and current, additional content has been incorporated in the Stratis Academy as well as a rapidly deployable development network within Docker to get you started right away.
There are still 19-Days left to submit your solution to the #BlockchainCOVID19 Hackathon. With three cash prizes available for selected winners, this is a great opportunity for developers to invest time into either growing or demonstrating your blockchain skills to build a solution that can truly make a difference.

Jonny Fry joins Stratis Advisory board

Jonny Fry co-founder and CEO of TeamBlockchain Ltd, is a Blockchain, Crypto, Digital Assets and funds specialist, with over 25 years’ experience as CEO of an asset management business which he floated on the London Stock Exchange with over £1Billion under management.

His focus has been on the dynamics of financial innovation, advising on how Blockchain, Digital Assets are being used in the commercial world, he is also a regular speaker on these topics in the UK and overseas.
He writes a weekly analysis that takes over 20 hours to research and write called Digital Bytes, which subscribers then use the content and create their own branded version to send to staff and clients offering insight to some of the developments in the Blockchain and Digital Asset sectors. This is now used by a variety of professional advisors, corporate brokers, accountants, lawyers, business schools, universities, trade bodies and corporations globally.
He is Non-Executive Chairman of Gemini Ltd, which is regulated by the FCA, a Co-founder of The British Blockchain Frontier Technology Association (BBFTA) and sits on the UK All Party Parliamentary Group on Blockchain (APPG Blockchain).He has helped a number of blockchain business and is an advisor for several companies helping them with their strategic growth and managing corporate and reputational risk.

Stratis Monthly #12

Stratis has started the year strong, engaging with several Enterprise organizations to demonstrate the power of the Stratis Platform and the benefits blockchain can bring into their traditional practices.
Interest in Blockchain Technology and adoption has shown an increase, this is evidenced by 61% of C-Level Executives at Enterprise Organizations having Blockchain as a high priority for their digital transformation. It is also evident in the market with conversations that we are having with potential partners, the knowledge of the technology is in line with the forecasted trajectory.
With Supply Chain being one of the very first enterprise use-cases for Blockchain, Stratis’ Business Development Team had a productive meeting with one of the world’s largest logistic companies. This meet enabled Stratis to both highlight and demonstrate the inherent benefits of Blockchain Technology, specifically when it came to the transportation of products sensitive to temperature fluctuation.
Engagements such as these enable Stratis to both exhibit our platform and engage further to develop and deploy Proof-of-Concepts within the respective businesses to truly highlight the efficiencies blockchain can bring to traditional processes.

Stratis in the News

A recent interview with both Stratis Founder and CEO, Chris Trew and Triad Group Plc’s Managing Director, Adrian Leer was undertaken by AIThority.
The interviews touched on where Blockchain industry is heading, within the Enterprise IT environments and what other emerging technologies and start-ups are of interest.
Click the images below to read the interviews in full.

Additional Trading Pairs

Additional trading pairs were added to the Binance Exchange, providing more options to acquire the Stratis Token. Stratis now holds trading pairs with BUSD, USDT, BTC and ETH.

Stratis Core 2.0 RC2

The latest iteration of Stratis Core has been in testing with the community for just under a month now. A final Release Candidate of the Stratis Core 2.0 Wallet is now available for the Community to install and utilise. We envision that this will be the final Release Candidate prior to general release, more importantly, the adoption of this instance of Stratis Core will signal for the activation of Cold-Staking.
Links to download Stratis Core 2.0 RC2 can be found below on our GitHub Releases page.
https://github.com/stratisproject/StratisCore/releases/tag/2.0.0.0-RC2

Stratis Monthly #11

In this bumper issue of the Stratis monthly, we review our progress over December and January. As 2019 came to a close, we announced the launch of our STO Platform and the Stratis Mobile Wallet.
This momentum has continued into the new year with the announcement of a framework partnership with Triad Group – a major milestone for our corporate development – and the conclusion of the Stratis Smart Contracts Challenge.
If that wasn’t enough, we also have another development update in this issue, so get yourself comfortable, ready to enjoy this double monthly update.

Development update

Over the past months, development has focused primarily on ensuring that the platform is wholly ready for business adoption. This includes significant testing of components that will be critical within specific use-cases.
As part of this development, a new product has also been introduced, demonstrating how the Stratis Platform can cater for the supply chain use-cases. Stratis’ supply chain solution is a showcase that will be utilised to highlight how blockchain solutions can bring huge benefits to all parties within a traditional supply chain.

Roadmap Update

Following on from an update that was provided in November, an update on the outstanding roadmap items can be found below.

Proof-of-Stake Sidechains

We will continue to focus on our existing sidechain implementation utilising the proof-of-authority consensus algorithm, this is primarily due to the level of decentralisation that is achieved through the utilised on-boarding process.
With the inclusion of dynamic membership, we can ensure that there is a diverse range of MasterNode operators providing the block production and transaction validation for individuals and organisations utilising Smart Contracts on a public chain.
This allows the current modal to scale and provide a high level of decentralisation and trust for both current and future sidechains.

Stratis Core 2.0

Stratis Core has undergone a facelift to improve the user experience and provide a template to incorporate new and exciting features. The pre-release will be available next week for a round of community testing!

Unity SDK

The Unity SDK and other technologies within the .NET Family are a significant focus for Stratis in 2020. Integration within the Unity development focus will continue to be a focal point for further development.
Expected: Q3

Breeze with Privacy Protocol

As mentioned in our previous update, the implementation of the Privacy Protocol for the Stratis network is reliant upon the successful integration and activation of SegWit. Development for SegWit is now code-complete, however, a significant amount of testing is required to ensure there is no unexpected behaviour introduced.
Unfortunately, this isn’t a quick process and requires some of the best minds at Stratis to ensure a wide variety of edge cases are assessed within a heterogeneous environment.
In addition, we are also exploring the option of activating SegWit on the Cirrus Sidechain to accelerate the process of activation on Stratis.
Expected: Q3

Stratis launches Security Token Offering platform

December saw Stratis take a great step forward with the launch of the STO platform, one of our key development roadmap milestones. We worked closely with clients to ensure the STO Platform is compliant with Securities and Exchange Commission (SEC) regulations, which enables businesses to raise capital by issuing legally permissible, asset-backed securities on the Stratis blockchain.
The response to the launch of the STO platform has been very encouraging and has already generated a great amount of interest in the community and from businesses.

Partnership with Triad

To kick off 2020, we were delighted to sign an agreement with Triad Group, a leading UK provider of IT consultancy services and technology solutions. Triad is an established name in the digital consultancy sector and works with many prestigious clients across the public, private and not-for-profit sectors. We will work closely with Triad to identify where their clients would benefit from blockchain and then help them build business-specific applications on our flexible, easy-to-use platform.
Our first collaborative project is the development of a blockchain-based, end-to-end parcel tracking application, which had originally been designed by Triad on the Ethereum platform and has already been ported across to the Stratis platform.
Matthew Tallamy, Senior Consultant at Triad, has published two blogposts on his experience working with blockchain and why they chose Stratis. Parts one and two of the series can be viewed on LinkedIn.
The collaboration with Triad was many months in the making and is a significant endorsement of Stratis that will open new doors to multiple organisations and businesses. We look forward to a long and fruitful relationship.

Winners of the Stratis Hackathon announced

The Stratis Hackathon was a huge success with nearly 200 developers registering to take part. The high standard and variety of entries was exceptional, making the judging panel’s job a very difficult one! After much deliberation, the judges revealed the top three winners, which are:

  1. US$10,000 First Place: Cirrus Swap by Tyler Pena. The Cirrus Swap decentralised exchange application allows users to hold their own tokens and settle trades on Stratis’ Cirrus Sidechain. As more SRC-20 tokens join the Cirrus Sidechain, the application will make it easier for users to exchange tokens on chain in a decentralised manner, as opposed to utilising traditional methods like cryptocurrency exchanges.
  2. US$5,000 Second Place: Wheelgame by Sergey Ankarenko. In this gambling web application, players log in with a decentralised, arbitrary private key to making it impossible for participants to cheat or gain an illegal advantage.
  3. US$3,000 Third Place: Stratis Signature by Divyang Desai. The Stratis Signature web application allows multiple users to securely create, sign and verify documents which enhances integrity and transparency.

We would like to congratulate all of our winners and thank all participants that submitted entries. We look forward to many more hackathons in the future.

Stratis in the news

It has been great to see all the recent progress at Stratis recognised in the media across many outlets from global newswire Reuters, European publication Government Europa, to several crypto press outlets. This will only continue as we add further functionality to the Stratis platform and win new business.

Stratis Smart Contract Challenge

Attracting nearly 200 participants and 13 high-quality submissions, the online hackathon produced a range of smart contract applications spanning finance, law, identity, trade, supply chain, charity, healthcare and gaming.

US$10,000 First Place: Cirrus Swap

Tyler Pena took the first-place prize of US$10,000 for his Cirrus Swap decentralised exchange application which allows users to hold their own tokens and settle trades on Stratis’ Cirrus Sidechain.
Cirrus Swap is a set of four contracts – BuyOrder, SellOrder, Orders, and JsonConfig – working together with a User Interface (UI) to create a clean user experience for trading SRC-20 for CRS tokens. It means that users only need to open the Cirrus Swap UI and Cirrus Core wallet to immediately begin trading.
As more SRC-20 tokens join the Cirrus Sidechain, for example MEDI, the application will make it easier for users to exchange tokens on chain in a decentralised manner, as opposed to utilising traditional methods like cryptocurrency exchanges. This added functionality will improve liquidity on the Cirrus Sidechain and help the token economy to thrive.
Cirrus Swap demonstrated a proven use case that provides millions in daily value right now. Cirrus Swap’s UI not only works but is aesthetic and intuitive. The contract code is clean, well-tested, and integrates with existing Cirrus contract standards. The project has even put effort into branding – Cirrus Swap could feasibly be a real product with a full team behind it.

US$5,000 Second Place: Wheelgame

This gambling web application was designed by Sergey Ankarenko. Based on a standard multi-player bidding game, players log in with a decentralised, arbitrary private key to make it impossible for participants to cheat or gain an illegal advantage. The ultimate vision behind the application is that it could be extended across the gaming sector, including online casinos.

US$3,000 Third Place: Stratis Signature

This web application for digital signatures was created by Divyang Desai. It allows multiple users to securely create, sign and verify documents. This enhances integrity and transparency, making it perfect for use by enterprises in law, invoicing, resource management, operations and finance.
The judges also commended other notable submissions including the Sale Deed Registry, Passport Agency Office (passport application/renewal), and TrustEvent (decentralised event ticketing system).

Chris Trew, CEO and Founder of Stratis, said: “We would like to congratulate all of the entries in our Smart Contracts Challenge, especially the top three winners. The number of high-quality submissions was extremely impressive and highlights the functionality possible on the Stratis Platform as well as the enterprise and government applications that can be built using Stratis Smart Contracts.
“It was also encouraging to see just how many new developers submitted entries. We pride ourselves on making blockchain easy and this was evidence of how we can encourage smart contract adoption by attracting developers already familiar with C# programming.
“We will now look to take forward the best use-cases in order to add utility to the STRAT token and boost our credentials for enterprise adoption. Following the success of this hackathon, we hope that there will be many more in the future.”

The hackathon ran from 1 November to 16 December 2019 and was open to submissions from individuals and teams from around the globe. Developing on the Stratis Platform, participants were encouraged to build smart contract applications that are useful, easy to use, innovative and impactful.
The judging panel consisted of sector experts, including developers, blockchain gurus and Microsoft MVPs judged the submissions on their utility, usability, creativity, functionality, and design and documentation.
To view all submissions entered into the hackathon, visit: https://stratisplatform.devpost.com/submissions

Stratis Mobile Wallet

Stratis is pleased to announce the launch of the Stratis Mobile Wallet.
The Stratis Mobile Wallet allows you to transfer, receive and store Stratis directly on your mobile device. You can effortlessly send or receive funds by scanning a QR code or sharing your address.
You can import and manage multiple wallets and private keys, and secure these with your biometrics or a PIN. It is based upon the popular and trusted Copay wallet and Bitcore services, used by hundreds of thousands to manage their cryptocurrencies.
 
Currently, the Stratis Mobile Wallet is only available on Android devices, however, we are currently going through the approval process with Apple and the Google Play Store to ensure the Stratis Mobile Wallet is available through the common application installation methods.
We are very keen to continue the development of the Stratis Mobile Wallet to incorporate more features and leverage features of the Stratis Platform. As an example, expect to see both Token Support for the Cirrus Sidechain and Cold-Staking support.
Further updates will be provided once the Stratis Mobile Wallet has gone through the various phases to become listed on the respective application stores.
The Stratis Mobile Wallet can be downloaded using the following link.
Stratis Mobile Wallet

Stratis STO Platform

The Stratis STO platform is now ready to be utilised and deployed to conduct Security Token Offerings. It has been built through regular dialogue with clients that are engaging with the U.S. Securities and Exchange Commission (SEC) guidelines, ensuring it is compliant with SEC regulations. It conforms with both Know Your Customer (KYC) and Anti Money Laundering (AML) laws and has undergone rigorous testing in order to ensure it meets all legal requirements for hosting an STO. These requirements are regularly updated and we will continue to modify its platform as required.
The platform is an adaptation of the existing Initial Coin Offering (ICO) platform and includes additional legal features to ensure it is suitable for security token issuance. It allows companies and organisations to run a secure and flexible web-based application on the Stratis blockchain to issue tokens to investors. The STO platform has been built using C# and the .NET Core, the most popular enterprise programming language on the most widely-used enterprise framework, making it easily accessible for businesses and developers.
Key features of the STO platform include:
Real-time pricing
The platform accepts payment in both fiat currency (USD) and cryptocurrency (BTC and STRAT). It uses currency data from multiple providers to ensure that STO participants benefit from real-time token pricing.
ID-based token issuance
The platform creates unique user IDs that allow the STO administrator to reliably and securely accredit tokens once an individual makes a wire transfer. This ID-based system ensures compliance with KYC and AML laws.
Wallet-based platform for added security
Stratis utilises hierarchical deterministic wallets rather than autonomous smart contracts to add an additional layer of authority and security.
While building the STO platform, we have been working closely with our partner Gluon, a platform that establishes an interconnected network of vehicles, allowing users to diagnose, track and monitor issues using IoT devices, AI and blockchain. We have been assisting Gluon with fulfilling all its legal requirements to register its GLU token with the SEC. Gluon is now in the later stages of the registration procedure and is expected to become the first company to issue a security token on the Stratis platform next year.
Stratis CEO, Chris Trew, said:

“We are delighted to launch our STO platform, one of the key milestones of our 2019 Development Roadmap. The STO platform builds on the functionality of the Stratis ICO platform with the addition of several new features that satisfy the rigorous regulatory requirements needed to conduct STOs. Our STO Platform is highly secure, flexible and scalable, making it easy for businesses of any size to raise money through the tokenisation of their assets.”

 

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.

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