StrongBlock Software Aims To Make Ethereum More Secure

StrongBlock, the software created by Block.one developers that launched EOS, aims to make the Ethereum network more secure by rewarding people that operate full blockchain nodes as we are reading more in the latest crypto news.

Strongblock tapped Chainlink’s decentralized price oracle technology to help it out and hopes to make DeFi on ETH more secure.  The team of former executives from the crypto startup Block.one which raised $4 billion in an ICO to launch eOS, today launched a new decentralized finance protocol which will change the way blockchain networks reward people who secure them. With a focus on DeFi, the newly released StrongBlock protocol will set the sights on improving Ethereum, not EOS as many thought.

We are excited to announce that the StrongBlock DeFi protocol will be launching on Tuesday, September 29, 2020!

— strongblock.io (@Strongblock_io) September 22, 2020

According to the platform, there’s worth in compensating all node operators whether they are miners or not. With StrongBlock, the blockchain users can reward the node operators and they can earn rewards by staking tokens on the platform. With the incentives in check, a Defi project could use StrongBlock to attract high-quality node operators to ensure the security of the protocol. The platform will start with the ETH blockchain which houses most of the Defi applications. Moss commented that the company was approached by some of the bigger protocols but didn’t say more. However, the question remains why the company won’t work on EOS with the $4 billion of investors’ money?

 “Would you [rather] go to Disneyland? Or would you go to a small gathering on the side of the road with a giant ball of string with a couple of amusement rides? Most people would choose Disneyland. Ethereum became Disneyland for DeFi and everything else.”

Moss commented that Block.one, the creators of EOS didn’t provide more support to those that are building on the protocol which is why he left the company. StrongBlock’s founder added that he will consider expanding the new Defi protocol to other blockchains but it’s not his main priority right now:

 “Our goal is to shine a spotlight on the most undervalued group in blockchain: nodes. Our ‘DeFi with a purpose’ protocol creates a true public good by rewarding nodes, providing more stability to blockchains, and increasing visibility to the nodes that keep blockchains running.”

Strongblock has its own governance token STRONG which distributes to node operators that use its network. All holders can vote on proposals to upgrade the network which can also sell those voting rights to strangers on secondary markets.