advertisement

Are the Blockchain Services at Stratis (STRAT) a Threat to Ethereum?

Stratis | STRAT | Ethereum | Blockchain | Scalability issues | blockchain solutions

 

Stratis (STRAT) is one of such coins in the digital market sphere that has shown signs of making impacts in the blockchain industry. It is no longer news that Ethereum launched to fill Bitcoin’s living loopholes after the latter suffered scalability issues.

Coming from cryptocompare.com:

“Stratis is the native value currency in the Stratis Platform, it fuels the creation of private and public custom blockchains for corporate use. The Stratis Platform offers a one-click deployment system for custom blockchain deployment.

These blockchains can be customized to suit the companies’ needs, and can even be deployed to mimic the features of popular blockchains like Ethereum or Lisk, which can be tested individually or in parallel.The Stratis team will also function as a London Based consultancy agency that will help businesses to deploy the blockchain that best suits them.”

 Following the same trend, Stratis came into existence to salvage existing problems in the Ethereum platform.

Like the Ethereum blockchain, the platform of Stratis can support smart contracts and decentralized apps or dApps. Ethereum was developed using the first Turing complete programming language for blockchain and it is the first decentralized platform to offer smart contracts and dApp. Stratis, on the other hand, is a BaaS or blockchain-as-a-service platform that was created keeping in mind the issues of financial sector corporations.

Stratis claims to be the first to offer private blockchains or sidechains to the users along with dApps and smart contracts. Being introduced in the cryptocurrency market on 12thAugust 2016, it can be said that the developers had the opportunity to study the shortcomings of the Ethereum blockchain and design accordingly.

Ethereum is still stuck at 8 to 25 transactions per second while Stratis implements more advanced technology to execute nearly 20,000 transaction requests per second. However, the Ethereum team is planning on implementing sharding technology that is expected to increase the number of transactions per second by at least 1,000. Sharding is basically the technique to divide a blockchain network into several groups or shards to enhance the network speed and scalability.

When it boasted of literally tossing Ethereum to the abyss of blockchain oblivion, many thought the project is a pipe dream. The perception is however changing. Stratis came up with what it termed Blockchain-as-a-service (BaaS).

Rumors were rife that Stratis was attempting to extend its operations. One of such extensions was, its poise to partner with Microsoft. The plan seems to be true and subsequent indications proved rumor to be true.

KryptoMoney.com publishes latest news and updates about Bitcoin, Blockchain Technology ,Cryptocurrencies and upcoming ICO’s.

Get Latest Cryptocurrency And Bitcoin News

Signup this form below to get latest Cryptocurrency and Bitcoin news, directly in your mailbox

Note:

Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.