Immediately after its launch, Stratis garnered a lot of attention. The project – despite being new – bagged partnerships with giant corporations like Microsoft and Earth Twine. This led to the project being hyped up in the cryptocurrency market. Debates ensued and supporters regarded the project to be a strong contender for Ethereum’s position in the market. Stratis brings some fundamental additions to Ethereum’s model. The changes proposed and brought by the platform were responsible for the bullish sentiments regarding the cryptocurrency.
However, one has to note that Ethereum is one of the original cryptocurrencies and the queen of the market. Competition with the queen is not easy and altcoins can get burned quickly. In this guide, we will delve more into what Stratis is and why is it considered to pose a threat to Ethereum.
What is Stratis?
Stratis is a decentralized platform that enables enterprises to create and deploy decentralized applications. It is essentially a blockchain development platform. The model, although having fundamental differences, is considered similar to Ethereum’s because both platforms are working on decentralized applications.
Stratis was designed to become the one-stop shop for all cryptocurrency needs. It is working as a Blockhain-as-a-Service (BaaS) with the aim of making dApp creation easier and more accessible in order to utilize the full potential of the smart contract technology.
Startis decreases the entry requirements to the market as developers are only required to have basic knowledge of C# in order to use the blockchain technology. Moreover, the platform acts as a toolbox and guides developers throughout their journey. The platform also has sidechain capability. Through sidechains, Stratis provides nearly ready blockchains that can be customized by enterprises through minimal efforts.
Future outlook
While initially Stratis was surrounded by a lot of hype and was regarded to rival Ethereum, that sentiment has died down. Stratis stands at a rank of 167 in the market – not a position where an altcoin can compete with the second largest cryptocurrency. The project has interesting and valuable contributions to the crypto market, but if the team want to overthrow Ethereum then increased efforts are needed. However, that does not mean Stratis is not a good investment in itself, just that the hype may have blown out of propotion.
At the time of writing, the cryptocurrency stands at a price level of $2.46. STRAX coin could not reach anywhere near its all-time high of $22 during the bull run of 2021. According to the estimates of Wallet Investor, Stratis token is expected to be operating at $4 in a year’s time while the five-year price is projected to be at $12. Digital Coin Price projects the price to be at $8 by 2026.
