Digital currency platform; a brief look at Stratis Core

Digital currency platform; a brief look at Stratis Core

The period we are living in now is characterized by unprecedented breakthrough and advancement in technology. This has revolutionized every aspect of life especially the financial aspect. Apart from the physical currency that we trade in, there is an increasing emergence of what is known as crypto-currency. This currency is a virtual asset that is designed using strong cryptographic encryption, which provides financial security and anonymity just like the recently introduced Stratis Core Wallet. Crypto-currency unlike other physical currency does not operate a central banking system but is controlled through a distributed ledger technology called a blockchain.

This block chain serves as the database for public transaction. Bitcoin being the first form of crypto-currency has long been alternated by other crypto-currency including the recent STRAT. This is a digital currency enabled by Stratis Core for staking, which in turns enable mining on the Stratis network. The history of crypto-currency dated back to 1983 when the then American cryptographer by the name David Chaum developed an unknown cryptographic E-money called "ecash". He later implemented this idea in 1955 by producing the early kind of crypto electronic payment that what was called "digicash". This uses software to withdraw money from a bank, encrypted with designated and specific encrypted keys before it was sent to the recipient. This allows the digicash to be untraceable by the bank that issued the note, the government or any third party.

Since its initial implementation, crypto-currency has experienced tremendous improvement and advancement just like the Stratis QT platform, which is an upgrade on its preceding project. The first decentralized and widely known crypto-currency was created in 2009 by Satoshi Nakamoto a pseudo developer. This crypto-currency known as Bitcoin has now become a point of reference for other virtual currency. It is recently not only used to secure information and communication but also to do money transfers across the virtual world.

Crypto-currency is also easy for ordinary people to purchase, use and sell. The first step is getting a virtual wallet like Stratis QT wallet used for Stratis and Bitcoin. This wallet has now been upgrade to the new C# wallet, which has led to improvement on this platform. Then use this wallet to create a peculiar public address. This public address will be used to transfer and receive funds across the digital network. A crypto-currency wallet is a digital software program that can be used to store private and public keys. It can also work with various blockchains, which enables the user to receive and send virtual currency and also keep track of their transactions and balance remaining in their wallet. The wallet unlike the physical counterpart does not store currency, it only just keeps record of the transactions saved in the blockchain.

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