Stratis (STRAT) Announces Masternodes’ Launch For Its Cirrus Sidechain
Stratis Announces Masternodes’ Launch For Its Sidechain
On Thursday, February 21, 2019, Stratis revealed that the long-awaited, “lower tier Masternodes” is now available for its Cirrus sidechain (https://stratisplatform.com/2019/02/21/stratis-sidechain-masternodes/). As per the claims made, this addition allows Stratis Token holders to
“operate as two different types of nodes on the Cirrus sidechain.”
— Stratisplatform (@stratisplatform) February 21, 2019
For those who are unaware, the use of Masternodes is a result of incorporating PoA, short for Proof-of-Authority. PoA supposedly does not require the computation of complex mathematical problems, but instead relies heavily on Masternodes for blocks creation and blockchain security. Stratis believes this approach is far more beneficial, as it not only ensures a private chain but also
“keeps the block issuers accountable.”
What Is Stratis?
Stratis is a globally-operating firm that seeks to resolve problems associated with the use of blockchain technology within enterprises and aims towards increasing its “implementation on a global scale”. As per its official website, the Stratis Token (STRAT) is the platform’s native token that, “acts as a value transfer vehicle” in its marketplace.
Some of the services that they offer include C# smart contracts (suitable for C# and .NET developers), an established ICO platform, and most importantly, its sidechains, where the latter is proclaimed as allowing businesses to reach new heights.
Getting back to Stratis Masternodes, investors are made aware that there will be two tiers of Sidechain Masternodes suitable for the Cirrus Sidechain, which are none other than the Cirrus Chain Federated Masternode and the Cirrus Chain Multi-Signature Masternode.
Cirrus Chain Federated Vs Multi-Signature Masternode
The Federated Masternode and that of the Multi-Signature appears to differ in the slightest ways. In particular, the former is believed to produce blocks on the Cirrus chain, where “transactional fees and GAS costs” can be earned to execute smart contracts. In order to become a Federated member, investors need to carry 10,000 STRAT.
As for the latter, it works similarly to the former, but the added benefit is its security component, which is believed to be achieved through the multi-signature address. The requirements are 5 times that of the Federated Masternode in STRAT holdings. For the time being, only 101 members will be elected to ensure the notion of decentralization still holds.
The process to express interest in becoming a Masternode will commence on March 6, 2019, reveals the team, which will be done through a “submission page”.
For more information, check out: https://stratisplatform.com/