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Stratis [Old] (STRAX) isn’t just another cryptocurrency. It was built for businesses - not speculators. Launched in 2016 as STRAT and later rebranded to STRAX in 2020, it was designed to let companies build private blockchains without hiring a team of blockchain engineers. Its biggest selling point? You didn’t need to learn Solidity or Python. If you knew C#, you could deploy a blockchain in minutes using tools tied to Microsoft’s .NET framework.
How Stratis [Old] Started - and Why It Mattered
Chris Trew, a former IT professional with experience at Barclays and other large enterprises, saw a gap: companies wanted blockchain, but most platforms were too technical or built for crypto enthusiasts, not corporate IT departments. So he created Stratis on top of Bitcoin’s codebase. The idea was simple - use Bitcoin’s proven security and reliability, then layer on enterprise tools.
In its early days, Stratis raised $600,000 by selling 84 million STRAT tokens at $0.01 each. That’s over 90% of its total supply. Microsoft even helped promote the project, which gave it credibility among enterprise buyers who trusted Microsoft’s backing. The token was later renamed STRAX when Stratis launched its own independent blockchain in 2020, moving away from Bitcoin’s code to a custom-built chain optimized for speed and enterprise use.
What Made STRAX Different From Other Coins
Most blockchains force developers to learn new languages. Ethereum needs Solidity. Solana uses Rust. Stratis didn’t. It let developers use C#, the same language millions of enterprise developers already knew. That meant companies could use their existing teams to build blockchain apps without retraining them.
It also offered Blockchain-as-a-Service (BaaS). You could spin up a private blockchain with one click using Azure or AWS. No manual setup. No complex configuration. Just pick your settings, hit deploy, and your blockchain was live. This was huge for banks, logistics firms, or supply chain companies that needed control over their data without the overhead of building from scratch.
Stratis used proof-of-stake (PoS), not proof-of-work. That meant it used way less electricity than Bitcoin or Ethereum before its upgrade. Users could cold-stake their STRAX - meaning they locked coins in offline wallets and still earned rewards. This made the network more secure and accessible to everyday holders.
It also activated SegWit early, fixing a known issue in Bitcoin called transaction malleability. This made transactions more reliable and reduced the risk of failed payments.
Why Stratis [Old] Isn’t Used Anymore
Despite its clever design, Stratis never broke into the top 100 cryptocurrencies. At its peak, it hovered around #300 on CoinMarketCap. By 2023, it had dropped to #3729 - practically invisible in a market with thousands of coins.
The problem wasn’t the tech. It was the ecosystem. While Ethereum grew into a global platform with thousands of dApps, DeFi protocols, and NFTs, Stratis stayed narrow. It didn’t support complex smart contracts. It couldn’t compete with Hyperledger or Quorum for enterprise adoption. And as more companies moved toward Ethereum-compatible solutions, Stratis’ unique advantage - C# compatibility - became less compelling.
In 2023, the Stratis team made a major decision: abandon the STRAX blockchain entirely and rebuild on Ethereum. They launched StratisEVM, an Ethereum Virtual Machine-based platform that lets developers use C# to write smart contracts - now compatible with Ethereum’s entire ecosystem of wallets, exchanges, and tools.
The Big Switch: STRAX to StratisEVM
As of late 2024, the original STRAX blockchain is no longer active. All old STRAX tokens were replaced with new tokens on the StratisEVM chain. If you held STRAX before the switch, you had to swap them through an official portal or supported exchange. Wallets like Ledger and Trezor updated their firmware to support the new tokens, but many users missed the deadline - and lost access to their holdings.
The migration wasn’t smooth. Some exchanges didn’t support the swap. Others delayed it. Community forums were full of confused users asking, “Where’s my STRAX?” and “Why didn’t I get notified?” The Stratis team issued guides, but the lack of clear communication hurt trust.
Today, the old STRAX token is worth $0.02392 USD (as of November 2025), but it’s essentially dead. No new blocks are being mined. No new transactions are processed. The only value left is in the form of historical interest or as a collectible asset.
What’s Left of Stratis Today
The original Stratis project still exists - but only as StratisEVM. The team has shifted focus entirely to the new Ethereum-based platform. Developers can now write C# smart contracts that run on Ethereum, interact with Uniswap, connect to MetaMask, and access DeFi protocols - something the old STRAX chain could never do.
The move makes sense. Ethereum has over 100 million wallet addresses. Stratis had a few thousand. By joining Ethereum, Stratis gains access to a massive user base. The C# angle remains its unique edge - no other major platform lets you build Ethereum smart contracts in .NET.
But here’s the catch: the original Stratis [Old] is gone. You can’t buy STRAX on Binance or Coinbase anymore. You can’t stake it. You can’t send it. The blockchain is frozen. If someone tells you they’re selling STRAX, they’re either selling old tokens with no value - or trying to scam you.
Who Should Care About Stratis [Old] Now?
Only three groups should care:
- Former holders who didn’t swap their tokens - they need to check if any exchange or wallet still supports the old chain (unlikely).
- Blockchain historians studying how enterprise crypto projects rise and fall.
- C# developers looking for a way to enter Ethereum development without learning Solidity - they should look at StratisEVM instead.
For everyone else? Stratis [Old] is a footnote. A well-designed idea that ran out of steam. Its legacy lives on only in the new StratisEVM platform - which is still unproven, but at least has a fighting chance.
Stratis [Old] vs. StratisEVM: Quick Comparison
| Feature | Stratis [Old] (STRAX) | StratisEVM (New) |
|---|---|---|
| Blockchain Type | Independent PoS chain | Ethereum Virtual Machine |
| Programming Language | C# for full nodes | C# for smart contracts |
| Smart Contracts | Very limited | Full Ethereum compatibility |
| Consensus | Proof-of-Stake | Proof-of-Stake (Ethereum) |
| Current Status | Decommissioned | Active |
| Token Symbol | STRAX (obsolete) | STRAX (new ERC-20) |
| Wallet Support | None | MetaMask, Ledger, Trezor |
Common Questions About Stratis [Old] (STRAX)
Is STRAX still a valid cryptocurrency?
No. The original STRAX blockchain was shut down in 2024. The token no longer functions on any active network. Any STRAX you hold today is not usable for transactions, staking, or trading on major exchanges. The only value it has is as a historical artifact.
Can I still mine or stake STRAX?
No. Mining was never possible on STRAX - it used proof-of-stake, not proof-of-work. Staking was possible until the blockchain was decommissioned. All staking rewards stopped after the migration to StratisEVM. If you see any site offering STRAX staking, it’s a scam.
What happened to the STRAX tokens I held before 2024?
If you held STRAX on an exchange, most major platforms automatically swapped your tokens for the new StratisEVM version. If you held STRAX in a personal wallet, you had to manually swap them through the official Stratis portal before the deadline. If you missed it, your tokens are now worthless. There is no recovery process.
Is StratisEVM the same as Stratis [Old]?
No. StratisEVM is a completely new platform built on Ethereum. It uses the same name and logo, but the underlying technology is different. The old STRAX blockchain was a standalone chain. StratisEVM is an ERC-20 token on Ethereum. They’re not compatible.
Should I buy STRAX today?
Only if you’re buying the new StratisEVM token - and even then, proceed with caution. The original STRAX has no value. Many exchanges still list the old token by mistake. Always check the contract address. The new StratisEVM token is deployed on Ethereum, not its own chain. Never send ETH or other crypto to an old STRAX address - you’ll lose it.
Final Thoughts
Stratis [Old] was ahead of its time in one way - it understood that enterprise adoption needed familiar tools, not flashy tech. But it was behind in another - it didn’t adapt fast enough. The crypto world moves quickly. If you’re not part of the biggest ecosystem, you get left behind.
Today, Stratis lives on - but not as STRAX. It lives as StratisEVM, trying to carve out a niche for C# developers on Ethereum. Whether it succeeds is still up in the air. But the original STRAX? It’s done. A well-intentioned experiment that ended in obsolescence.
If you’re looking to get into enterprise blockchain, skip the dead coins. Look at the living ones. And if you’re a C# developer? Try StratisEVM - but make sure you’re on the right chain.
4 Comments
Puspendu Roy Karmakar
Man, I remember when Stratis was the talk of the dev shops in Bangalore. C# on blockchain? No way we’d need to learn Solidity-just stick with what we knew. It felt like Microsoft was quietly building the future, and we were just along for the ride. Shame it didn’t stick.
Evelyn Gu
I mean… I just… I don’t know… I had STRAX in a Ledger, and I swear I read the email, I did, I even printed it out, but then my cat knocked over my coffee, and I was distracted, and then I forgot, and now I’m just sitting here staring at my wallet thinking… is this real? Is this what happens when you’re not paying attention? I lost like $400, and I don’t even know if I can cry about it or laugh about it or just… just go eat a sandwich and pretend it never happened.
Tina Detelj
Stratis [Old] wasn’t just a blockchain-it was a quiet rebellion against the cult of gas fees and the dogma of ‘if it’s not on Ethereum, it’s not real.’ It was the last bastion of practicality in a world that turned crypto into a reality show. C# developers didn’t want to be influencers-they wanted to build. And now? We’re all just chasing tokens like kids chasing ice cream trucks. The real tragedy isn’t the lost coins-it’s the lost intention.
George Kakosouris
Let’s be real: Stratis was a vanity project masquerading as enterprise tech. The C# angle was a gimmick-nobody in Fortune 500 IT was writing blockchain nodes in C# in 2018. They were using Hyperledger Fabric, which had real support, audits, and legal teams. Stratis was a glorified dev tool with a token. And now it’s a graveyard. The migration wasn’t botched-it was inevitable. The only surprise is that it lasted this long.