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Highlights
- Cryptos are manifesting volatility this year as well, with wide and unpredictable swings in their prices
- StrongBlock claims to reward nodes through its DApp platform, and it might launch its protocol StrongChain in future
- Its STRONG token has lost substantially this year, and not much is known about the other token STRNGR
The cryptocurrency space has been having an unpredictable and highly volatile run this year as well. According to CoinMarketCap, which tracks more than 18,700 cryptos, the total market cap of all assets combined was over US$2.2 trillion at the beginning of 2022, but it then declined to as low as US$1.51 trillion by January 24.
From Bitcoin, the largest of all, to popular assets like Shiba Inu and Ethereum, most cryptos are trading below their all-time high prices.
But this subdued run appears to have not dampened the spirits of projects working in the blockchain sector. New altcoins linked to these projects were launched this year, with ApeCoin (APE) token grabbing many headlines in March.
A project titled StrongBlock was also gaining traction at the time of writing, likely due to the conversion of its STRONG token to a new name, STRNGR.
Let’s know more.
What is the StrongBlock project?
A decentralized app (DApp) on the blockchain network of Ethereum, StrongBlock claims to be a Nodes-as-a-Service (NaaS) platform. It has mentioned NaaS rewards to validators in its Light Paper.
The project also seeks to build a protocol StrongChain, to which its NaaS platform can be moved over time.
Also read: APE and WAVES: 2 cryptos that made news in Q1 2022
StrongBlock seems to be targeting nodes that it says can play a key role in validation, but are not rewarded in the same manner as miners.
The platform states that despite the talks around extreme decentralization, power is concentrated in the hands of a few in the blockchain industry, which this DApp may change.
How the project functions and brings the changes it intends is yet to be properly verified.
What are STRONG and STRNGR tokens?
STRONG is known to be StrongBlock’s token. However, the project’s website claims that it has been converted to STRNGR token.
STRONG crypto was listed on CoinMarketCap, and according to the data, its price entered a deep bearish phase after mid-January 2022.
From over US$700, STRONG crypto price fell under US$200 in early March. It has recently entered a double-digit trajectory due to continuous slide.
Also read: Is EGL token a reminder of risks that ail crypto verse?
On its website, StrongBlock claims to have a native token named STRONGER, which is yet to be launched. Not much information is available on STRNGR token, and it is not listed on CoinMarketCap as of yet.
Data provided by CoinMarketCap.com
Bottom line
The wider crypto world continues to be unpredictable, similar to its past record, but new projects and native tokens are being announced.
StrongBlock claims it would reward nodes of the Ethereum network and launch STRONGER as the new token.
The website also talks about the conversion of existing token STRONG to STRNGR. Notably, STRONG token has heavily lost this year.
Any decision on the StrongBlock project and its token should ideally be backed by caution and due diligence.
Also read: What is Sphynx cryptocurrency project and SPHYNX token all about?
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