Ethereum is one of the most popular cryptocurrencies, and has experienced a giant boost in both price and traffic due to the DeFi (Decentralized finance) wave. Every single transaction on the network is proofed by miners, but did you know that there are thousands of Ethereum nodes running as well? A node stores all information about the blockchain, and it keeps record of transactions. The more nodes running, the more witnesses to all activities, giving the blockchain higher security and making it harder to fake records. That is why nodes are crucial to any blockchain!
For a long time, only miners have been able to make “money” using their computers and miner software to mine Ethereum. Those who have been running nodes have done so mostly based on a “conviction” that it is important, useful, and good. But, it has not been a profitable project. That is sad, after all, the nodes are crucial for the security of the blockchain. That is why the arrival of Strongblock might bring a very necessary change to the Ethereum network, and with time, to other blockchains as well!
What is StrongBlock about?
StrongBlock is a project founded by David Moss, a quite legendary person in the crypto-environment. He has earlier been a leading figure for EOS, one of the leading cryptocurrencies of our days, and he is the leader of BlockOne. Together Thomas Cox, Corey Lederer, Brian Abramson, Konstantin Shkut, Michael Mason, and Jon-Eric Cook, they are the lead team behind the StrongBlock project. But, what is StrongBlock about?
StrongBlock: it is about making the BlockChain Strong
StrongBlock runs a platform in which users can stake the Strong token, and from October 24th, they can also add combinations of Strong/Ethereum and Strong/Link to liquidity pools, and based on this, earn Strong tokens. As a result, people are awarded for mining with their tokens on the StrongBlock platform. But, this is only a piece of the puzzle.
Just as important is the fact, that people can run Ethereum nodes and earn Strong tokens with their activity. If you already have an Ethereum node up and running, you just need to add a few pieces of information to a file, and follow some more instructions, and you will eligible to get Strong rewards. The higher the quality of your, the faster, and the more consistent uptime, the more likely you will be to earn higher rewards. Other users who mine with their tokens (or add them to liquidity pools) can also “vote” for your node by signaling it, and the more people do so with your node, the higher your income will be.
As a result, node owners will be rewarded for their activities, something that will make it way more attractive to actually be a node owner. The way I see it, this will lead to many new nodes as well operated by people who want to supported the Ethereum blockchain, and while doing so, even earn a piece of income. If they do a good job, it might actually turn into a quite profitable activity to run one node. It is also interesting to see that many within the StrongBlock community not only operate one node, but they are running more nodes. What is the result? A more secure blockchain due to many nodes storing and validating the data on the blockchain.
The future of StrongBlock
So far, I have only been discussing how StrongBlock is inspiring and rewarding people for running nodes on the Ethereum blockchain. But, the way I see it, many other blockchains in need of stability and nodes will for sure feel tempted to contact the StrongBlock team in order to invite node owners to secure their very own blockchains. As a result, I can easily see how StrongBlock will help secure other blockchains and reward nodes working with other blockchains as well in the future.
The past of StrongBlock
StrongBlock had a “messy” launch in September 2020, which led to a sudden decrease in price. This frustrated early investors, but the team worked a lot, and they have been very transparent, something that can be seen with the boss himself, David Moss, even active on the Telegram channel of StrongBlock. They have also had an AMA, and they made changes to the mining rules quickly, making it more profitable to mine with Strong tokens than Ethereum and Chainlink. Even though the early investors “lost” quite a lot in the start, they will be “taken extra good care of” as StrongBlock version 2 is released on October 24th, in which those early investors will get access to a more profitable mining pool (compared to those who joined the project and invested at a later point).
In other words, it has been a windy start for the project, but it is clearly listening to the community, and they seem to work hard at making it as good and as efficient as possible. The fact that the team is well known figures from the crypto-world also makes it more trustworthy than many other projects in the crypto- and the DeFi sphere.
Where to learn more about StrongBlock? Where to buy Strong tokens?
You can learn more about StrongBlock, get involved, register your Ethereum node, and mine with your tokens at www.strongblock.com. If you want to buy Strong tokens, the most popular place to do so is currently on UniSwap.