What To Know Before Investing in Strongblock

The Blockchain space has witnessed disruptive growth since Bitcoin began to rule headlines, and from the start, blockchains like Ethereum have struggled to keep pace with demand. In turn, Layer 2 scaling solutions have become a vital solution for addressing problems with network performance. While several have enjoyed good reviews, Strongblock seems to stand out. 

Strongblock positions itself as a Blockchain solution that relies on the concept of decentralization to create a world that makes it easier for anyone to participate, support, and be rewarded on the Blockchain. 

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What Is Strongblock?

Built on the Ethereum network, StrongBlock is a decentralized finance protocol. You can think of it as a blockchain/crypto startup created to be a Blockchain-as-a-Service (BaaS) company. Like Oracle, but for the blockchain. According to Markets and Markets, the BaaS market is projected to increase at a compound annual growth rate of 90.1%, from $632 million in 2020 to $11,519 million by 2026. This new service is analogous to the ten-year meteoric rise of Infrastructure as a Service (IaaS) and Software as a Service (SaaS).

The original EOS blockchain founders created StrongBlock to improve the security of DeFi. The coin was created by the team in February 2018, and the introduction of their Blockchain-as-a-Service in 2020 represented a significant milestone.

The StrongBlock protocol is a paradigm for increasing decentralization in a decentralized world. Its team believes that DAO governance and adequate community incentive models are the best ways to promote blockchain adoption, and they utilize multi-chain, third-party nodes and data oracles to increase efficiency.

The protocol's most attractive feature is known as Node-as-a-service (NaaS). For starters, this feature appeals to all essential people in the decentralized transaction process—miners and nodes—to reward participation. In a typical Blockchain transaction process, miners are rewarded for their computing efforts. Nodes are not. Strongblock changes this by incentivizing people who purchase nodes with a daily reward. 

Strongblock has established itself as the industry standard for evaluating, authorizing, and rewarding nodes. The protocol highly values third-party nodes as a disruptive method of blockchain governance. This merit-based reward system contributes to the network's overall performance.

How Do Nodes Work In a Transaction? 

Nodes are required for a cryptocurrency or blockchain to function efficiently. 

Nodes communicate with one another, forming a network densely packed with information such as transaction histories and stored, received, and transmitted data.

All blockchain transactions must go through nodes, which validate the transactions using a 'consensus process,' sometimes known as an algorithm. Before a transaction is agreed to be final, many nodes must concur that it is authentic through 'confirmation.' 

Many volunteer organizations and users, for example, are running full Bitcoin nodes to aid the Bitcoin ecosystem. Its network has approximately 9,700 public nodes running as of 2018.

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What Are Strong Nodes? 

Because Strongblock is built on Ethereum Blockchain, $STRONG nodes support the Ethereum network and reward node operators with Node Universal Basic Income (NUBI). This income is paid for helping to maintain the Ethereum network. The reward is calculated on a "per Ethereum block" basis. 

Strongblock allows its nodes to prioritize the safety and security of decentralized platforms while also compounding token value for token holders and ensuring node sustainability. The network's stability, functionality, and scalability are designed to help drive demand for public blockchains.

Strong nodes run as NaaS, hence they require no hardware. Strongblock takes care of the necessary resources for a monthly fee. 

Though the nodes currently operate only on the Ethereum network, it's on the road to becoming Blockchain-agnostic in the near future.  

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Why Invest In Strongblock? 

The question, of course, is whether Strongblock is a good investment. Before buying $STRONG, the platform's native token, here are factors to consider. 

1) Strongblock is truly revolutionary: 

The concept behind the Strongblock NaaS makes it an attractive service in the Blockchain space. It differs from other popular dApps as it focuses on rewarding nodes on its network in order to aid decentralization and ensure that Blockchain transactions are processed seamlessly. 

$STRONG is a high-quality cryptocurrency with a wide range of technical applications that is part of one of the fastest-growing blockchain ecosystems.

2) Incentives:

For each node, there’s a daily reward of 0.1 $STRONG. If the price stays the same for 100 days, you will have your initial investment back. Then you continue to collect rewards as profit on your investment. 

This is enticing for the decentralization space because a trusted node like Strongblock's nodes is great for ledgers, consensus, and confirmations. 

3) Sweet passive income: 

The rewards are almost entirely passive once the node is purchased. All that is required is that you pay the node's monthly service cost. Then, when you're ready to receive your rewards, you may claim the $STRONG and do anything you want with it. 

The most obvious way to utilize your incentives is to pay for things like rent, food, a car, and other expenses. The ease with which you can convert your $STRONG to cash is determined by your location. If you are a citizen of the United States, one of the simplest ways is to convert $STRONG TO USDC and cash out on Coinbase. 

You can also just take your initial investment and reinvest your profit in new nodes. You are setting yourself up for success by receiving your initial investment back since you are less anxious and less likely to make mistakes. Even if the markets experience a sharp correction, you will be less affected and will be able to persevere more easily - especially if you are a novice investor.

In addition, compounding your strong rewards is another option worth exploring. Compounding refers to the ability to take your $STRONG rewards and use them to create new nodes.

It will take 100 days to recoup your initial investment of 10 $STRONG if you build your first node with 10 strong. You now have 10 $STRONG (if you didn't spend any) to use to make another node.

$STRONG has a lot of potential as a passive income source; you can earn 0.1 $STRONG per 7000 ETH blocks, which is now around 6400 per day = 0.091. You can claim as much as you want, but you should understand the fees that come with it, such as gas and a monthly NaaS maintenance fee of $15. 

Be forewarned.  You will not be able to collect rewards if you do not pay the fee before the due date. The smart contract will delete your node if you have not paid after a specific length of time—presently 30 days.

4) Great team: 

StrongBlock is backed by an experienced team of enterprise software developers and blockchain developers. The majority of them were also EOS network core developers. David Moss, the CEO; Corey Lederer, the CPO; and Brian Abramson, the CTO, lead the teams.

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How To Create A Strong Node

You'll need your 10 $STRONG tokens in a MetaMask wallet, as well as enough ETH to cover the $15 first month maintenance charge and all gas fees. Check gas at any of the gas tool estimation sites, such as EthGasStation, EthGasWatch, EtherChain, or ethereumprice.org/gas for an exact figure.

Then go to https://app.strongblock.com/. Simply do the following:

1. Connect to Metamask
2. Click ‘Create Node’
3. Approve Metamask
   

And you’re done. 

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Strong Tokenomics

Strong is a coin based on the ERC-20 standard. $$STRONG has a maximum quantity of 528,886 tokens. On Medium, you can learn more about Strong tokenomics, and on CoinGeko, you can monitor the current circulating supply. 

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Where To Buy $STRONG

Strong tokens can be purchased on the Uniswap DEX (and other aggregators), as well as the KuCoin, Gate.io, and Hoo exchanges.

Uniswap has the largest liquidity, and KuCoin has the most CEXs.

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Price Prediction 

Like that of other cryptocurrencies, $STRONG's price is volatile and fluctuates.

The $STRONG/USD pair is trading at $393 as of the 15th of February, 2022. The token's trading volume has increased by 13 percent since yesterday. On the other hand, the market capitalization has risen by 13% in the last 24 hours to $53 million. $STRONG is ranked #542 on the crypto market.

Digital Coin Price has an optimistic outlook, with their peak price standing at $2,577 by 2028, based on $STRONG price projections for the coming months. According to the analytical site, $STRONG is expected to reach $805 by the end of 2022.

Meanwhile, Coin Data Flow has the most upbeat prediction for the token. The firm expects the price to reach $1000 by the end of this year, and $1500 by the beginning of 2024. By 2028, the price could reach $81K, according to a long-term prediction.

I believe $STRONG has a very good chance of breaking outside the $1000 barrier in the near future. The majority of cryptocurrency experts feel that the goal is highly achievable. The coin's price could easily double to reach $1000.

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How Is Strongblock Making Money From This? 

StrongBlock, like many other blockchain startups, is still in its early stages. It has been in operation since 2018, with their NaaS going live in December 2020.

To be able to offer a decentralized BaaS, StrongBlock is presently developing both its technology and its network of node operators. StrongBlock's business model is BaaS, which entails providing blockchain-agnostic infrastructure services, such as node renting. Furthermore, with their NaaS offering, they are democratizing the capacity for non- technical people to participate and profit by simplifying the node setup and management process.

Is Strong A Risky Investment? 

Any investment in Strong should be considered 'high risk' with the potential for 'high profit' until StrongBlock proves its concept, ability, and business model.

But with high risk comes the potential for high rewards.

Conclusion

A robust user-centric community and an experienced team of engineers support the token. All of these things contribute to my belief that $STRONG is an excellent investment and that the price will almost probably rise in the near future.

It's also worth remembering that the current return is ridiculously generous, designed to incentivize and build the community of node operators; as a result, expect reductions due to halving over time. However, there is some positive news: Strong is nearing commercialization.

As a beginner, it's best to seek help from someone who knows their way around the crypto world, including how to set up your wallet, buy, and operate your Strong node.