To those working in the cryptocurrency industry, it is no surprise that the digital financial landscape is evolving almost every second. Among such technological developments, the concept of the node as a service (NaaS) on the blockchain gas gained immense popularity thanks to the latest project named StrongBlock. NaaS provides developers with the necessary infrastructure and tools to set up and operate blockchain nodes, providing an option to operate entire blockchain nodes independently. However, a node refers to a device that keeps the transaction history of a blockchain. The StrongBlock project aims to transform the way blockchain networks function. It is a vast area that requires extreme knowledge. Unless you lack enough knowledge to navigate through the blockchain network, it can be a daunting area to venture into.
In this article, we will discuss StrongBlock and how it works.
What is StrongBlock (STRONG)?
Since blockchain is a vast area and requires extreme knowledge to navigate through it, some users may find it extremely difficult to utilize it. The StrongBlock project was designed to eliminate this difficulty and help such users create a blockchain-compliant node quickly while compensating them for running it.
Simply put, StrongBlock is a Node-as-a-Service (NaaS) network that facilitates the creation of nodes for blockchains such as Ethereum (ETH), Polygon (MATIC), EOS ( EOS), etc. Before the introduction of StrongBlock’s NaaS concept, running Ethereum nodes needs an outstanding knowledge of blockchain as well as the ability to code. In summary, one requires either a high level of effort or skills to perform these actions.
Now, the introduction of StringBlock has resolved this issue, automating and neutralizing the processes involved. Users are able to create a node in a few seconds with the help of the StrongBlock platform. The native token of StrongBlock is STRONG, which will be rewarded to users who add their nodes. The STRONG token is a governance token that gives users the power to make decisions about the network’s future.
What are Strong Nodes?
A Strong node that stores the transaction history of the blockchain and supports the Ethereum blockchain. Users who operate with a Strong node will be rewarded with a ‘Node Universal Basic Income’ (NUBI) depending on the number of Ethereum blocks they give to the blockchain’s upkeep.
Strong nodes operate as a service and do not need any kind of hardware to operate. This is why anyone who has zero technical knowledge and skills can create a blockchain-compliant mode in seconds and earn money from it.
The rewards will depend on several factors such as the price of the token, the number of nodes, non-fungible token (NFT) ownership, and node revenue.
How Does a StrongBlock Work?
The ‘Node Universal Basic Income’ (NUBI) is continuously provided via the StrongBlock protocol. The company uses the STRONG token to fund these NUBI payouts, and it will eventually use NFTs in the future.
Those who have obtained the STRONG token in this way contribute to the governing council of the StrongBlock protocol. As the protocol develops, the community can address the possible incentive deficiencies in a number of ways. User’s continuous contributions per node, renewal fees, lowering NUBI, burning STRONG for NFTS, and developing NUBI classes are all used to gauge the incentives they receive.
In two ways, you can utilize the nodes within the StrongBlock. Firstly, the Bring Your Own Node (BYoN) provides flexibility and expertness while customizing your node. Secondly, with the help of BYoN nodes, users will get additional opportunities than the NaaS nodes via future additions. For NaaS, the monthly fee is around $14.95, whereas for BYoN, it is different.
What is a STRONG Token?
The STRONG token is the native token of StrongBlock and also an Ethereum-based ERC-20 token that operates on the Ethereum network. It is currently trading at $23 with a $10 million market capitalization. The circulation supply is 400,000 and over 90% of the supply was already burnt in 2020.
Since STRONG is a governance token, it will gradually lead to the decentralization of StrongBlock by providing users with the power to make decisions depending on the amount of tokens they hold. With every new node, StrongBlock is still burning the STRONG tokens to maintain a deflationary supply of tokens.
Is StrongBlock is Good Investment?
If you are a crypto enthusiast, then you can consider StrongBlock a promising project, with which you can earn passive income by launching Ethereum nodes. If certain things like your financial goals, your organization’s vision, and the return on investment are all aligned, you can actively participate in the project and receive STRONG tokens as rewards.
However, since the crypto market is highly volatile and there are high gas fees involved in these investments, it is crucial to conduct proper research before putting money into this project.
Conclusion
StrongBlock is revolutionizing the way individuals engage with blockchain technology by making node operations accessible to everyone, regardless of their technical expertise. Through its innovative Node-as-a-Service (NaaS) model, users can easily set up and manage nodes while earning rewards in the form of STRONG tokens. This not only democratizes participation in blockchain networks but also creates opportunities for passive income. Its commitment to accessibility, community governance, and innovation makes it a significant player in the future of decentralized networks.