Strong

Strong

STRONG
$3.58%-2.87

Key Metrics

Price$3.58
Real Volume (24H)$23,341.29
Marketcap$494,738.28
Fully Diluted Valuation$3,314,614
ATH$1,217.44
ATH Date10/29/2021, 7:00:15 AM
ATL$3.84
ATL Date11/22/2022, 7:31:53 AM
Circulating Supply400K
Total Supply529K
WebsiteN/A
WhitepaperN/A
Popularity Rank2765
Chart
What is Strong?

StrongBlock (STRONG) emerges as a groundbreaking protocol that seeks to incentivize nodes and simplify blockchain accessibility for all. In the realm of blockchain, two key components play a vital role: miners and nodes. While miners receive compensation for their work on the blockchain, nodes do not receive any rewards, resulting in a significant risk for supporting public blockchains. Addressing this issue head-on, the StrongBlock (STRONG) protocol introduces the StrongBlock (STRONG) community DeFi protocol, designed to incentivize nodes through the utilization of the STRONG governance token.

According to the flash paper, the StrongBlock (STRONG) protocol firmly believes that decentralized and governed protocols must reward the nodes that support the establishment of their blockchains. Nodes serve the crucial purpose of maintaining up-to-date records of all blockchain transactions and providing access to applicants wishing to utilize the blockchain. Despite their pivotal role, nodes do not receive any form of compensation. To tackle this challenge, the StrongBlock (STRONG) protocol harnesses advanced technology to facilitate the rapid hosting, creation, maintenance, and updating of nodes, thereby enabling nodes to receive STRONG tokens as rewards.

Additionally, the StrongBlock (STRONG) protocol endeavors to automate the following functions to ensure nodes are rewarded:

  1. Consistently running a server capable of operating a node throughout the day.
  2. Upgrading nodes and resyncing them on the blockchain.

Moreover, the StrongBlock (STRONG) protocol introduces the concept of Node Universal Basic Income (NUBI), an innovative reward system. NUBI rewards vary based on factors such as the number of nodes, node health, token price, node revenue, and NFT ownership. The STRONG tokens earned through NUBI rewards also serve a governance function within the protocol.

To qualify for rewards, nodes must undergo a specific process. The protocol employs the Nodes-as-a-Service app, enabling the launch of a blockchain node within seconds, paving the way for rewards.

Nodes as a Service (NaaS) empowers anyone to create an Ethereum 1.0 full node within minutes. The process entails providing a name and description for the new node. StrongBlock (STRONG) takes care of hosting and maintaining the node. To initiate the node creation process via NaaS, participants must contribute ten STRONG tokens, which aid in rewards generation and future utilization.

History of StrongBlock (STRONG) The StrongBlock (STRONG) token is backed by a team of blockchain and enterprise software experts, spearheaded by CEO David Moss, CPO Corey Lederer, and CTO Brian Abramson.

Creation of New STRONG Tokens & User Rewards The STRONG token operates on the ERC20 mechanism of the Ethereum blockchain, adhering to the same set of rules. ERC20 tokens are the standard for creating and issuing smart contracts on the Ethereum blockchain. These smart contracts function as protocols on the blockchain, replacing traditional paper-based contracts.

New STRONG tokens are generated through the mining process, which involves staking STRONG tokens in a pool to earn rewards. The mined STRONG tokens are subsequently awarded to the miners.

By mining within the StrongPool, users ensure their tokens remain active and generate earnings. The mining pool rewards gradually decrease to maintain circulation within the community. The new tokenomics model supports a low inflation rate, with rewards primarily stemming from node contributions and supplemented by the remaining pool of STRONG tokens in the StrongBlock (STRONG) community wallet.

Furthermore, the STRONG token implements a token-burning mechanism as a means to create new tokens. Token burning involves sending a portion of tokens to a wallet without a private key, rendering those tokens permanently inaccessible. This burning process effectively reduces the token supply, thereby increasing its market value.

In conclusion, StrongBlock (STRONG) introduces an innovative protocol that incentivizes nodes within the blockchain ecosystem, fostering accessibility and empowering participants. Through the strategic utilization of the STRONG governance token, StrongBlock (STRONG) paves the way for a decentralized future, ensuring the equitable distribution of rewards and facilitating seamless engagement with blockchain technology. Join the StrongBlock (STRONG) community today and embark on a journey towards a robust and inclusive blockchain landscape.

Disclaimer

The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.

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