Category: Uncategorized

What is Stratis?

Stratis is a blockchain development platform created to provide solutions to businesses wishing to make use of blockchain technology but may be lacking the technological know-how or sufficient capital.

The platform allows users to create and deploy blockchain-based applications using a simple programming language that is familiar with many developers; C+ and Microsoft ’s.Net framework.

Stratis aims to simplify the process of blockchain adoption for companies and make it cheaper by allowing the companies to deploy their blockchain applications on the Stratis blockchain using the Stratis infrastructure.

In a nutshell, Stratis is a Blockchain–as–a–service platform that offers turnkey solutions for blockchain adoption in the financial sector.

With the solutions that they offer companies can enjoy blockchain solutions at a fraction of the time and cost that it would ideally take them.

Stratis also allows privacy into blockchain solutions by enabling private sidechains on its platform. Below are some of the unique features of the Stratis platform that allow it to offer the solutions that they do effectively.

Stratis Full node

This is the backbone of the Stratis platform and it implements both the STRAT and BTC protocols. Full Nodes are able to autonomously validate block transactions and serve the blocks and transactions to other networks.

The full node is an open source software built in C#, several features can be excluded or included depending on the user’s preferences.

Stratis sidechains

Side chains are a unique feature of the Stratis blockchain which is supported by the Stratis full node. The technology behind this is quite complicated and is referred to as a Two-Way Federated Peg.

A simple illustration of how this works is this:” think of a side chain as a foreign country and the Stratis mainchain as the user’s home country. The federation secures an amount of the foreign currency (in this case APEX), which it can loan to sidechain visitors in return for depositing STRAT.

When a user returns home, they can relinquish their APEX and withdraw the equivalent amount in STRAT on the main chain.”

Side chains are also written in C#.

Stratis Academy

Stratis has an Academy that helps developers learn how to use the Stratis blockchain. This is very necessary as blockchain technology is an emerging technology that is unfamiliar to many developers.

The Academy also helps the users to make sound applications of the Stratis blockchain across different sectors of the economy. This will go a long way in enhancing the adoption of blockchain technology in the market.

What is the problem that Stratis Solves?

Blockchain technology presents a lot of opportunities for businesses across the spectrum.

Blockchains such as Ethereum have allowed businesses to set up decentralized applications to simplify processes and make them more efficient.

As much as this has worked well for a number of businesses, it has not sufficed for businesses seeking a form of privacy and control over their systems.

For example, businesses have no control over the course of development of the ethereum blockchain and any attack on this blockchain could significantly impact on their private business. In addition, Solidity is the only programming language used on the Ethereum blockchain.

This programming language is not familiar with many developers who may be willing to work on the Ethereum blockchain. This makes the learning curve very steep for many would be blockchain developers.

It is because of these inherent weaknesses in the existing blockchains that Stratis was conceptualized. The hope is that through Stratis this problems will be addressed and this will allow large-scale adoption of blockchain technology.

Stratis has created an integrative system that combines the unique strengths of the bitcoin blockchain with its own unique capabilities to offer a better blockchain solution to the market.

How does Stratis Solve the problem?

Stratis offers blockchain as a service to companies to bridge the gap between the solutions offered by the large public blockchains and the specific needs of private businesses.

Stratis has employed various strategies to make it possible for companies to fully utilize their platform to their advantage. For example, companies do not need to support an entire blockchain network and incur huge costs because they can access what they need directly.

This makes it very affordable for companies to try out the Stratis blockchain and customize for themselves unique solutions. Let us look at methods that Stratis has devised to get around this:

1. One- click deployment

This feature enhances ease of use on the Stratis platform. With just a click a user can deploy an entire sidechain from the main Stratis blockchain and customize it to suit their needs.

Not only that but with yet another click the user deploy a side chain to other major blockchains such as Ethereum, Bitcoin, and BitShares among others. This will allow the user to tap into unique features of the linked blockchains.

2. Side chains

As mentioned earlier, with just a click a user can deploy a private side chain that is customizable to the user’s needs.

Once deployed, the user can make changes on the private sidechains that will not affect the other chains in the network. The deployed side chain is highly customizable to suit the needs of the business.

In addition, the deployed chain retains all the security features present in the parent chain. The user can also choose which features to adapt from the parent chain and which ones to leave. These are some of the reasons that make private sidechains very enticing to businesses.

As much as companies may be tempted to use well known of public blockchains such as Bitcoin or Ethereum, with a private blockchain they will be able to have control over the chain and its development. Also, Stratis has significantly faster confirmation times.

3. Fiat gateway integration

This feature being built onto the Stratis blockchain will allow for the integration of fiat currencies into the platform through a gateway.

This means that companies will be able to move fiat currencies to the blockchain through the creation of digital tokens that are equal in value to fiat currencies. With this feature, businesses can remain compliant with regulatory systems even as they transition to the Stratis blockchain.

4. ICO platform

Startis is developing an ICO platform that will allow blockchai projects to launch their ICOs on the Stratis platform.

5. Three tier architecture

The Stratis platform utilizes a three tier architecture that is similar to that of Microsoft.

This is another feature that will make it easy for the numerous programmers familiar with Microsoft’s software to be able to adapt easily to Stratis.

6. High scalability and performance

With the increasing demand for blockchain technology, blockchain software needs to be highly scalable in order to meet this demand.

There needs to be infrastructure in place that will be able to handle the demands placed on it without giving in, failure to which there will be a resultant compromise in the integrity of the system.

An example of congestion in the system has been witnessed in instances where the bitcoin blockchain has not been able to complete transactions in the stipulated time.

This effect can be detrimental for businesses when processes cannot be completed in the stipulated time which could eventually mean losses for the business. Ideally, all blockchains should allow room for expansion to cater for increased volumes of transactions.

As this has not been the case, Stratis has created an option for flexible blockchains that can be configured to ideal chain sizes and block sizes to suit a company’s transactional needs. This allows companies to tailor make their unique blockchains that will be ideal for them.

What makes Stratis better than its competitors?

Other Blockchain as a service platforms include Lisk and Ethereum. Ethereum is well known of due to its features that allow for the development of smart contracts and decentralized applications.

Unlike Ethereum, Lisk offers the option for side chains similar to Stratis. However, Stratis uses C++ while Lisk uses Javascript for programming. This makes Lisk more publicly available and on the flip side, Stratis is more appealing to users who value privacy.

Stratis also competes with the Bitcoin blockchain and it presents the following superior advantages:

• Stratis uses the same code for its main chain as well as the side chains. Due to this, the resulting interface is compatible with the main chain allowing the chains to interact. This allows the private chain to incorporate new features from the main chain easily. However, it is up the business to decide whether they want to maintain this interactive interface with the main chain.
• Unlike other blockchains, Stratis allows for the deployment of private blockchains that businesses seeking some form of privacy and control can utilize.
• Stratis allows developers to fully customize the private chains to suit their business needs.
• Stratis allows business to utilize cloud computing. This means that businesses can deploy their blockchain based applications on the cloud and not need to maintain the network for themselves.
• Stratis allows for one click linkage with other blockchains such as Litecoin, Dogecoin and Ripple among others.
• Stratis allows for the integration with fiat gateways which allows for seamless transfer of fiat currencies.
• Stratis uses C# and Microsoft’s .net as the primary programming language for its blockchain. This is more familiar for most developers globally as opposed to Solidity which is used on the ethereum blockchain.
• Stratis has a three tier architecture which is similar to that of Microsoft. This makes it easy for developers to navigate the blockchain.

How can Stratis be categorized?

Stratis is a blockchain as a service platform that allows for dapps to be built on it and STRAT is a cryptocurrency.

Stratis’s vision of Security?

Stratis is a blockchain project with all the inherent security features of the blockchain.

Stratis utilizes cryptography to create security for the transactions on its platform. In addition to this Stratis utilizes KYC and AML services which are integrated on the platform via a technology reffered to as Onfido. Startis is in the process of developing a Breeze wallet which should launch soon.

This will allow users to store funds securely.

Examples of Stratis use cases / applications.

Startis offers Blockchain solutions, a service that can be utilized by fintech businesses to adopt blockchain technology with ease.

Moreover, it allows for the creation of private blockchains which can be used by private businesses to customize their own blockchains that suit their business needs.

The side chains carry the same security features as the main chain and they can be accessed via lite clients and  APIs.

In addition, these side chains can be linked to other public blockchains from which they can get additional features. When businesses launch their private blockchains on the Stratis blockchain they are able to save a lot on costs.

Stratis also allows businesses to use their technological resources so that the businesses do not have to start developing their blockchains from scratch. Launching on the Stratis blockchain allows the companies to make use of the features present in the major blockchains.

• Partnership with Earthtwine

Stratis formed a partnership with Earthtwine to create the world’s first blockchain for seafood.

The plan is for Stratis to create private blockchains, tokens and applications for Earthtwine’s global seafood tracking systems. Earthtwine will enjoy all the features of the Stratis blockchain including fiat gateway adoption.

This could potentially transform the sea food industry by creating efficiency in the system. Stratis can also be beneficial in creating transparency in medical research, in provenance tracking, in identity management and in data recording and management.

Perhaps the most innovative feature of the Stratis blockchain is the development of the highly flexible and adaptive sidechains.

As much as the public blockchains such as bitcoin and ethereum have a lot to offer to users, Stratis has gone the extra mile to offer a customizable solution that appeals to private business models.

Their choice of programming language has also created a gentle learning curve for developers transitioning to the blockchain. The success or otherwise of the Earthtwine project will be a great predictor of how Stratis will fair in the market eventually.

 WHAT IS BASIC ATTENTION TOKEN?

Basic Attention Token (BAT) is a token created to solve the numerous problems facing digital marketing. It is a product built on the Ethereum Blockchain Technology as well as an ERC-token and the aim of the platform is to decentralize the digital advertising marketplace, thus leaving users, publishers and advertisers to dominate by eliminating whatsoever form of a third party like the trackers, middlemen and frauds, that create a problem for the current market place.

The Basic Attention Token makes use of the Brave Browser to achieve its goal because it is built to withstand trackers and malvertisements and also to record user’s attention through its ledger system.

Aside from solving the problems associated with digital marketing, the Basic Attention Token is also used as a means of exchange i.e. a currency. This token is exchanged on the platform between the participants which would include advertisers, users and publishers. It would be used for the purchase of attention-based advertising services on the Brave Browser. The usefulness of the token is solely dependent on the attention derived from the users of the platform.

The attention of the user is monitored by the browser based on the ads and content viewed by a particular user. This way, publishers, users and advertisers are rewarded with the right amount of token they all deserve. All of these are achieved through the use of the smart contract

WHAT IS THE PROBLEM THAT BASIC ATTENTION TOKEN SOLVES?

There are numerous challenges facing the digital marketplace and it has affected all the participant in the marketplace. The major problem is the presence of so many intermediaries between the advert and the user. These intermediaries include training desks, agencies, mobile and desktop network exchanges, demand side platforms, rich media vendors, yield optimization. All of these intermediaries lead to the high price of advertising budget.

Every participant (user, publisher and advertiser) usually bear the brunt of the fees one way and another. For instance, publishers get to pay a lot for advert servicing, fees for the campaign, monitoring and deployment. Users on the other end suffer from the various unnecessary ad which eats deep into their data plan and battery.

More so, users suffer a lot from privacy violation as a lot of their personal information is being used against them. The advertisement marketplace also suffers from fraudulent practices as hackers are able to deceive advertisers and users with malevolent bots used for the generation of fake traffic. It’s a two-way thing as advertisers suffer from fraud, users from malvertisements.

In the long run, publisher’s revenue falls as Facebook and Google more of the money and enjoy the growth process, most users employ the use of ad blockers to prevent incessant and necessary ads.

Also, publishers have been unable to make money from other value services. For users, they are continuously violated and robbed of their privacy, battery and data while advertisers are unable to be effective in what they do as they lack the right info on what they pay for and they also suffer from poor targeting giving users a greater chance of ignoring adverts.

 

HOW DOES BASIC ATTENTION TOKEN SOLVE THE PROBLEM?

All of the problems encountered in the advert marketplace is due to the fact that it operates on a centralized platform. The BAT platform aims to ameliorate these challenges by providing a decentralized advert exchange that would eliminate the presence of the numerous intermediaries in the market place thus leaving just the user, advertiser and publisher to interact and make use of the best opportunities that avail them. This is achieved through the use of an attention token built on the blockchain technology and the brave browser.

The brave browser is an open-source, fast and privacy-based browser that prevents trackers and ads that are invasive. This browser comes with a ledger that gauges the attention of users so as to recompense publishers adequately and accurately. Afterwards, the Basic Attention Token, a decentralized token for advert exchange comes into play. This token employs the use of the smart contract, a feature on the Ethereum blockchain technology to automatically carry out operations.

The user attention is gotten from the token through the engagement of the user with an advertisement. Through the browser, contents that are relevant to the viewer determines the ad that would be shown to the user. Also, external interference is impossible since its through a secured platform. Since the ads shown is what is relevant to the user, there is a 90% chance for a successful transaction. This way, users’ privacy is respected and they earn for viewing adds based on the metrics employed.

Same way, publishers would be given some token as rewards also based on the attention of a user. The more tailored an ad is, the higher the increase in revenue. Although, advertisers would not get any token, they are the mainstay of the platform. They are responsible for the provision of content that would determine the success and profit of the network.

As regards fraud, it is virtually impossible to hack into the system to create malicious bots due to the dual presence of the blockchain and brave browser.

WHAT MAKES BAT BETTER THAN ITS COMPETITORS?

There are numerous platforms around the world that stand as competitors to what the Basic Attention Token offers. One of such competitor is Reddit Gold which is a product of reddit. This product is limited to the platform and all it does is to grant its member access to features on the platform. There is no incentive for the publisher and user like is seen in the BAT platform where users are given free tokens for viewing ads.

Another edge which the BAT platform has over its competitors is the fact that they operate on the blockchain technology. Through the use of the blockchain, security through decentralization is guaranteed. There is no possibility for a hack or third-party interference. More so, through the use of the smart contract, the transaction is done speedily and effortlessly. It also ensures that the user’s data is kept away from external parties, placing priority on its user.

Also, the BAT platform does not restrict its user to a particular site or function. It gives its users liberality to interfere with whatever they want to, unlike Blendle which limits its function to stories alone. Much more than the benefits accrued to the platform, BAT places more emphasis on the user.

HOW CAN BASIC ATTENTION TOKEN BE CATEGORIZED?

• Rewarding

The platform rewards both the publishers, the user and the advertiser. The publisher and user get BAT tokens for providing ads and viewing ads respectively while advertisers enjoy higher conversion. This serves as an incentive to want to participate more in the activities of the platform in question. This gives room for a coordinated operational model and would increase the effectiveness of digital marketing.  More than solving the problems that the digital marketplace suffers from, it also provides a steady means to uphold their system. The way rewards are distributed are systematic and based on some laid down criteria and calculations. Tokens generated on BAT platform are available to be exchanged among the participating individuals who include the publisher, advertisers and users of the advertising system.

• Advertising

The major goal of the Basic Attention Token is to provide a more effective and focus-oriented advertising marketplace. Advertisement before has been once sided and had derived the major participants their joy. Users have been deprived of their privacy, a larger chunk of their data life suffers and there is a reduction in battery life. This leaves them with no option but to install ad blockers. This way, the advertisement is not effectively done.

Publishers therefore do not get high returns of their revenue as they get to pay a lot to the middlemen to get ads up and running while advertisers are usually unable to achieve effectiveness and are also victim to fraud. Basic Attention Token increases the efficacy of digital advertising as a result of its token development that encourages security to all parties involved as well as increases the attention of the user to the ads. High and increased revenue also ensures that advertising is well done on BAT platform.

• Currency

The Basic Attention Token apart from being a tool for solving major problems in the digital market, it is also a means through which service and online features can be purchased. Only through the token can one become a beneficiary of the platform. The reward gotten from participation can be used to buy digital products like pictures, data, applications, games and its features, etc.

 

WHAT IS BAT’S VISION ON SECURITY?

A major and highly remarkable challenge facing digital advertisement has been that of security. The influence of middlemen and even hackers has created a huge nuisance to users, the publishers of adverts as well as the advertisers. This is why Basic Attention Token is the answer and solution to all of the challenges mentioned. It operates on a system that offers resistance to attacks poised at its platform. It has incorporated Brave, a browser that portends high immunity against pseudo adverts that could be intended to invade its platform. This high security system has been able to raise the effectiveness of advertisement on BAT blockchain. Tracking by external parties is available on BAT platform, as well as an in-built mechanism that points out the truly safe ads rather than the malicious ones.

The blockchain technology provides decentralization which reduces or totally eliminate the presence of middle men. In the centralized system where middle men were, there was a lot of hack possibility and this led to loss of huge amount of money to the hackers as they created fake bots that deceive users, generating fake traffic. This way, advertisers lose revenue to them. Using BAT eliminates the possibility of such reign, placing more focus on just the user, publisher and advertiser with other party included. Every operation is done automatically through the smart contract.

EXAMPLES OF BAT’S USE CASES/APPLICATIONS

The Basic Attention Token serve a lot of purpose of which the chief is Advertising. Now, through the use of BAT, advertising can be more specific and targeted towards a particular demography. This allows small scale businesses to participate effectively in the digital market place, as they can run their ads towards specific users at a low cost.

Some other times, publishers sometimes have content that they reserve for their subscribers alone. The BAT token could be a medium through which publishers can share these contents since users ordinarily do not really participate in having to subscribe. The content could be bought and sold for friends e.g. if the reserved content could be beneficial to known friends, the token could be used to purchase it for these friends.

BAT could be used for voting or commenting. This is a more secured and trustworthy means to determine the validity and reliability of such vote and comment. This way, one can determine actually users of the site. It also provides proof that whosoever voter or commented is real and not just some random thing like robots. The Publisher can use the platform to reduce the high rate of negative comments and cyber bullying.

Furthermore, BAT can be employed to buy goods and services on the Brave browser. Some of these goods could be pictures, data, applications etc. Normally, publishers make them available to the users through subscriptions. However, this model as not been truly effective since a lot of users find these subscription plans as very expensive. With the BAT token in utilization, users can get these features by paying a certain amount of token to the publisher.

Another possible use cases of the Bat token are its use in game platforms as provided by publishers. Although, this is not so common, there are a lot of possibilities that the token might influence its popularity. Game features, tools etc. can be purchased using the token which would give room for better enjoyment. Also, news platform could provide users with news regarding latest events for a specific amount of token.