28th Mar, 2018

Bi-Weekly Update 28th March

Welcome to another bi-weekly STRAKS update. We apologise to the community for the delayed release of this update. As we seek to establish and improve our internal processes and procedures, delays and miscommunications are unfortunate but largely avoidable. Your patience and support as a community is much appreciated as STRAKS grows organically. Please rest assured that we are working tirelessly in making STRAKS a successful project, and building value for all our investors and community members, alike. Lack of updates or responses is NOT and never will be an indication of an “exit scam”, “dead coin” or other colourful discrediting descriptions.

In what follows, we have provided some reminders, additional information, tech-previews, status updates and finally, calling an end to the bi-weekly update process.

Segregated Witness Transactions

To date, five SegWit transactions have been processed on Mainnet, the latest two after the recent Yiimp codebase update by STRAKS core dev Ekam. These changes have been accepted into the official Yiimp repo, which is fantastic as STRAKS is now, by default, included in any new Yiimp pool setup and simply needs to be enabled by the host. The STRAKS explorer has also been updated to highlight SegWit transactions.

  1. 248fd400a9583cbdfd7201ec64f2956e6d6804ea7e182e38e4b8a3c4b436cff8
  2. 7dd5e3397a91ef135647639cf6e7cf0d7897f6376b83520aaf75e75b76bc76ea
  3. f729065b24497a99e3152372ef63b96b79228d0b6134e894cb3dcba47d2727f6
  4. 2eba5babdf76c2c61c73374e0f3dfad64d39e41c9c18a6b5a93270e33f551247
  5. a44a1658cf20d052554aebdf734279254c47d851a3a25595b2fd169c7e8f80ba

STRAKS Unicode Characters

The following unicode characters have been selected to indicate STRAKS digital currency in an abbreviated form in-line with Bitcoin and fiat currencies. We hope the community will embrace these symbols when accounting in STAK.

STAK: (U+A7A8)
µSTAK: (U+0282)

Discord Sweepstakes

For users new to STRAKS or simply looking to get involved in the community, a channel that runs hourly sweepstakes/giveaways every day, has been made available on Discord. Prizes vary from a few STAK to tens of STAKs every hour. Get involved today on Discord here: https://discordapp.com/invite/PM9j5XQ

STRAKS Community Forum

We’d like to remind our community that STRAKS has a dedicated forum (see link above) that also acts as a STRAKS knowledge base. Please seek specific support queries, and offer suggestions that you’d like to track on this forum, and both the community members and the STRAKS team will look to provide assistance and commentary.

We appreciate that many issues and suggestions are posted on Discord. We apologise that many are not addressed directly and maybe are missed by the team altogether. However, https://straks.co will allow us to track your suggestions, answer issues directly but more importantly provide a valuable resource for all the community to reference for similar issues - thus lessening the frustration for all parties concerned.

Social Media

A new STRAKS Telegram channel has been created that now allows comments. We hope that it will provide another community outlet and further attract new members.

Additional links for reference:

Development Progress

STRAKS Android/IOS Wallet

Months ahead of scheduled, we are pleased to announce that the STRAKS Android wallet will be released for closed beta testing this week, with the IOS version following shortly thereafter. The wallet is a port of the highly valued and utilised Bitcoin Breadwallet:

  • STRAKS breadwallet is a real standalone STRAKS client. There is no server to get hacked or go down, so you can always access your money. Using SPV mode, STRAKS breadwallet connects directly to the STRAKS network with the fast performance you need on a mobile device.

  • STRAKS breadwallet is designed to protect you from malware, browser security holes, even physical theft. With AES hardware encryption, app sandboxing, and verified boot, STRAKS breadwallet represents a significant security advance over web and desktop wallets.

  • Simplicity is STRAKS breadwallet’s core design principle. A simple backup phrase is all you need to restore your wallet on another device if yours is ever lost or broken. Because STRAKS breadwallet isdeterministic, your balance and transaction history can be recovered from just your backup phrase.











Beta testing of the Electrum wallet for STRAKS is in full force and we have not identified any major bugs as of yet that would delay a full release to the public. Once we are comfortable with the stability of the codebase we will announce its release.

For more information related to Electrum and its architecture please see the general documentation at: http://docs.electrum.org/en/latest/







We are pleased to announce that STRAKS’ Data Dashboard is scheduled to go live soon. As a reminder, all the supporting APIs necessary to give full visibility of all relevant statistics have been built and are now publicly available via the STRAKS explorer API. Further announcements will be made on its public release.




Implementation is on track. Core functionality is coming together and is now being integrated with a payment API. We are looking forward to the community having a direct voice in how STRAKS evolves as a digital currency.



Marketplace core functionality is being tested and work is progressing at a steady pace.

The marketplace is key in demonstrating STRAKS utility as payment for goods and services. Demonstrating the speed and capacity of STRAKS blockchain as a valuable technology solution via the STRAKS marketplace, for those retailers and businesses looking to adopt a blockchain payment solution, will significantly reduce the barriers to adoption.

External Services


We are pleased to announce that STRAKS has been added to Crypto-Coinz.net. A fantastic resource in calculating mining profitability, looking up Masternode data and has a wide gamut of cryptocurrency related information.



We would like to remind users that STRAKS is also on Coinlib.io, another excellent resource and alternative to CoinMarketCap. A nice feature is the ability to compare price movements across multiple coins:

Coin Comparison:https://coinlib.io/compare/2018-01-01/STAK/BTC/ETH/XRP


Another invaluable resource for analysing STRAKS is CoinGecko.com, which provides a wide range of statistics and data.


Community Contributions

We’d like thank the various community contributions over the past weeks, whether it is voting for exchanges, creating social media videos or simply spreading the core value proposition of STRAKS to fellow colleagues, family and friends. We encourage further engagement by the community in supporting STRAKS and making your weekly swap proceeds more valuable to you as a recipient.

A big thank you to Discord member freeman#8085 for creating a python module for interacting with the STRAKS explorer API, I’m sure many of you will find this useful. We will be in contact to donate some STAK for your efforts.


We are pleased to announce the addition of community member Brian McMichael (mrmcmichael#3014https://github.com/brianmcmichael) as a STRAKS Supporter. He has made some excellent contributions to the project that include the faucet (https://straks.network/faucet) and STRAKS stickers, not to mention his well considered opinions and thoughts that guide many community members of STRAKS.

We are also please to announce the addition of soulhacler#4356 (The Coin Kings) as a STRAKS Supporter. He has been an excellent advocate for STRAKS and has shown great initiative in promoting STRAKS through his YouTube channel (https://www.youtube.com/watch?v=L0TLFYXdvTU)

Note, the “Supporters” role on Discord has a few additional permissions and have access to beta releases by the team and are invaluable in shaping the community experience for STRAKS.



Unfortunately we have received updated communication from HitBTC that STRAKS listing has been delayed further and no additional information was forthcoming off their representatives with regards to the exact nature of the delay. Although we are immensely frustrated by the delay and share similar sentiments to that of the community, please be aware that as a relatively new coin we have minimal positional power and thus need to exercise patience and restraint in our demeanour towards HitBTC, and similarly the community towards the STRAKS team with regards to this matter.

HitBTC have now stated that, I quote, “STRAKS will be listed in April”. Notably, given the recent delays, please use the latter as only a tentative schedule. We expect to be subjected to further possible delays as HitBTC have their own internal processes and procedures to follow. We will continue to push for a specific listing date but cannot guarantee specific timings, so please refrain from extensive posts about specific timings of HitBTC listing.

Finally, when we receive a firm date, whether it is April or even later, you can be rest assured that the community will be informed directly.


The STRAKS team are keen supporters of decentralised exchanges and we believe that CryptoBridge is an excellent example of a fully functioning and accessible decentralized exchange. We encourage the community to support CryptoBridge in its endeavour to become a leading exchange and trade as many altcoins as you can, but specifically, STRAKS only! Your support will indirectly help STRAKS gain further exposure, volume and liquidity.


Next.Exchange Voting

Free Next.Exchange voting is still live and STRAKS has over 1000 votes. We appreciate the immense efforts of the community to getting STRAKS to this signficant milestone. We highly encourage the community to submit their daily free vote by accessing the link below.


SouthXchange BTC Voting

Thus far STRAKS has gathered 542 votes. We strongly encourage the community to contribute towards the public listing voting process, if they are interested in seeing STRAKS on SouthExchange. If a top 3 placement achieved by this Wednesday, it would guarantee STRAKS a listing.

Votes are submitted by sending BTC to the address (123yK6b5i8dDQozwdgYPgZ8XUdzbWbk2HN) where 1 vote = 0.001 BTC.


Other Exchanges

The STRAKS team will continue to pursue additional exchanges where the opportunity exists for successful listing and adds value from cost-benefit perspective. In light of HitBTC delays, we may consider expediting the pursuit of additional exchanges in the interim. Please note, however, that listing on exchanges has become very difficult for various reasons, but we will persevere and approach opportunities as and when identified.

We encourage key community members to assist in introducing STRAKS to various exchanges through their own personal contacts and influence. A significant STAK bounty will be paid on successful listing and 4 weeks ex-post trading of STRAKS.


Please refrain from overly disseminating your own insecurities and concerns that only seek to taint the HitBTC listing process, or provide a random link to Github activity as an indicator of development progress as it is detrimental to the overall STRAKS community and how it is perceived. We’re not asking for blind faith but only rational judgement based off long term results, similar to any other coin or solvent entity.

On using Github as an indicator of progress; we can confirm that it is one of the worst ideas to-date. Much of the work we do, as is the case for STRAKS Android wallet and Electrum, is done via private repositories, which are then released and added to the STRAKS github. Please refrain from using STRAKS github as a measure of activity or progress.

Many of the community members should be leading by example given their seniority and experience but instead we see continued irrational opinions and bizarre justifications that demonstrate incompetence or complete absence of intellectual thought. To the latter members, If you are for some reason disgruntled and own significant STRAKS, but experienced enough to offer solutions and implementations then we will reward you handsomely. Key being “implementation”, as the current team is busy with the current roadmap.

End of the Bi-weekly

We would like to announce the end of weekly/bi-weekly updates. This will be the final bi-weekly update. The overall benefit has been minimal, and the development team have always maintained that excessive transparency was a double edged sword and not good for STRAKS. Many of you might be fully aware of the fact that the development process from both a business and programming perspective can take time, and at times the updates are/have been very underwhelming but this has exposed STRAKS to undue event risks and selling pressure. Quarterly, annual and significant events - that is the standard in the business world, and we’ll try and follow a similar process. Dates will be announce in due course.