StratisEVM: Stratis Announced to Migrate to an Ethereum-based Blockchain

Stratis Plans to Migrate to an Ethereum-based Blockchain

Stratis, a blockchain platform that uses Microsoft's .NET Core Framework, has announced a major shift in its strategy: launching StratisEVM, a new blockchain that is compatible with Ethereum. This will allow Stratis to leverage the existing tools and innovations of the Ethereum ecosystem, as well as enable interoperability with other platforms.

Stratis has been developing its own blockchain platform from scratch, with a focus on providing solutions for various sectors, such as Self-Sovereign Identity, Supply Chain, NFT Marketplace, ICO/STO Management and more. However, Stratis faced challenges in gaining adoption, due to the lack of tooling and interoperability with other platforms. Stratis tried to overcome these challenges by building SDKs for Unreal and Unity Gaming Engines and various programming languages, sponsoring .NET conferences and events, and creating projects such as DevEx, which offers static code analysis for Smart Contract development. However, these efforts could not match the growth and popularity of platforms like Ethereum, which have seen record-breaking usage and market capitalisation.

Stratis realised that creating a new platform was not the best way to achieve its goals. Instead, it decided to migrate to an Ethereum-based blockchain, which would offer more opportunities and advantages for its products and future developments. StratisEVM is the result of this decision: a blockchain that runs on the Ethereum Virtual Machine (EVM), which is the core component of Ethereum that executes Smart Contracts. StratisEVM will use the $STRAX token as its native currency, and will support all the features and functionalities of Ethereum, such as Solidity programming language, MetaMask wallet, Remix IDE, Truffle Suite, OpenZeppelin contracts, ERC standards and more.

StratisEVM will also benefit from the innovations and improvements that are happening in the Ethereum ecosystem, such as scaling solutions, layer 2 protocols, DeFi applications and more. StratisEVM will be able to interact with other blockchains that are compatible with Ethereum, such as Binance Smart Chain, Polygon, Avalanche and more. This will open up new possibilities for cross-chain collaboration and integration.

StratisEVM is a bold and exciting move for Stratis, which shows its adaptability and vision in the fast-changing blockchain space. StratisEVM will bring Stratis closer to its mission of delivering a Microsoft-focused blockchain platform that can offer mature tooling and interoperable possibilities.