Over the past few weeks since I started this blog I’ve actually been learning a lot about crypto and blockchain technology, funnily enough, thanks to SHIB. Even though I think SHIB is a good project we have to remember it was started as a meme, so the risk of it losing its momentum is very much there.
However, what SHIB did was open my eyes to blockchain technology and all the amazing things it offers. It’s like back when the internet was invented and all these tech companies started popping up. Blockchain is still in its infancy and there’s still a lot of problems that have to be solved; a major problem right now is high gas fees (transaction fees) with the ethereum network, which is the most used blockchain right now. Another problem that negatively affects blockchain technology is all the criminals and scammers who take advantage of decentralization and anonymity to get away with a lot of illegal doings. Although I’m sure these problems will be solved in the future and blockchain technology will become as important as the internet is today.
Now, back to the project in the title, StrongBlock. It’s a great example of how a company can solve a problem within blockchain, that problem is nodes. If you don’t know what nodes are, they’re basically the security system of a blockchain, that’s the best way I can put it, I’m still learning about them myself, but the point is all blockchains need nodes. And nodes are not necessarily super easy to set up, they require some time and technical knowledge, that’s where StrongBlock comes in and makes node creation as easy as a few clicks. The best part about StrongBlock however is that it’s run by a community, it’s the first node provider to reward its node operators, and as of right now they reward handsomely.
Watch this video by Jesse Eckel to learn more about the rewards:
I believe in this project so much that I decided to take out a loan to invest it in a node. This is honestly a really stupid idea and would NOT RECOMMEND anyone do this, simply because if the project fails now you’re stuck with a loan you have to keep paying monthly. However, I decided the reward was bigger than the risk in my situation and if the project fails I’ll still be able to pay back the loan, it’s gonna suck, but I would survive.