NaaS — Nodes-as-a-Service — The troubles of growing — Part 1
Ring (RING.financial) claimed to be a fork of Strongblock… but the differences were many, to begin with.
Strongblock allows the user to create a real node:
- in one of their different locations, (Singapore, London, etc.),
- with a real RPC api (A Remote Procedure Call happens to be the most straightforward form of an API which allows developers to communicate to a server in order to remotely execute code)
- and for 2 different networks (for now) Ethereum and Polygon, with Sentinel coming soon.
The Ring team rode the wave of success of Strongblock by re-using the concept of “creating a node” meaning the users would put in an amount of money to create a fixed income out of something they were calling “a node” on the UI, but it was only a treasury or a fund to invest with and generate the returns to the users.
Ring Financial was also promising a slightly higher daily return than Strongblock, that way it attracted a lot of users in a short time, putting the team with a huge problem in their hands, that they probably never thought about: loads of cash to invest. It’s not easy to quickly find good projects in the crypto space in a short term, for people that clearly never had experience in managing big investment funds.
