Stratis is a blockchain-as-a-service platform that provides a variety of products and services for businesses, including private sidechains, full nodes, smart contract development and deployment, an ICO platform, and a proof-of-identity application.
Stratis features its own blockchain, which is powered by STRAX, a native token that can be used to buy and consume services like smart contract execution and sidechain payments.
STRAX is a Proof of Stake system, which means that no mining is required to use it. The Stratis team made the supply of coins and coins in circulation visible by posting them on the blockchain. Instead of mining coins, users in PoS lock some of their coins for a certain length of time to secure the network and earn interest on the coins that have been locked. The more coins a bettor has, the more likely they are to be chosen to build the next block.
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