TJKoury / hoge_stuff

Geek Repo:Geek Repo

Github PK Tool:Github PK Tool

Develop With Hoge

There are many ways to develop decentralized apps in the current Ethereum ecosystem.

Using a token for app utility offers many benefits, and choosing Hoge gives developers some unique advantages.

A few benefits of using a token for app development

  • Add cryptographically secure utility without a centralized database to track keys / addresses
  • Allows for identifying/interacting with user accounts, without needing personal information
  • Enable features for users based on token usage (i.e., holding a certain amount, or for an amount of time)
  • Track interactions with other addresses / smart contracts, create innate relational data models
  • Use tokens as in-app rewards / payment

Token Types: Utility vs. Equity

Some tokens are meant to be used for a specific purpose. The value of these tokens is speculative, changing with the markets perception of their use-case. Usually these tokens are associated with a single app or type of functionality (like advertisement or gaming).

Others are securities, issued by companies to investors as a way to share in the success of the enterprise. These are "equity" tokens. The benefit of equity tokens lies in their value going up due to efforts of the company. Investment is made based on the company's potential, and success yields profit.

Both Utility and Equity tokens can be useful, but have drawbacks:

  1. Are heavily reliant on a third-party
  2. Can change arbitrarily
  3. Lock developers into an ecosystem / specific use-case
  4. No control over issuance

Revenue Models: Paying for a service vs. asset ownership

Traditionally, apps are fee-for-use: a user pays a fee for access to features, whether up-front or by giving their attention to a third-party (in the case of advertiser-supported apps).

Another way of allowing access is through owership of digital assets (like NFTs) associated with a crypto address. This model is gaining popularity for a few reasons, including:

  • No recurring costs
  • Users do not have to give up anything to gain access
  • App developers do not need to build engagement / billing systems
  • Cross-promotion / branding opportunities

App developers gain revenue by issuing digital assets, or owning digital assets whose value increases with the increase in added utility.

Why use Hoge

Hoge is a meme-token, and is deflationary by using a burn / reflection mechanism.

It is an open-source brand, and has no default use-case or ecosystem.

About

License:Apache License 2.0