Howdoo is setting itself up to take on the world of social media. It seems from looking over the available information that it wants to do a little bit of everything. It seems at first glance to want to be facebook, and instagram and youtube and anyone else that publishes media or content of, well, any kind. They are taking a big swing, so let's try and dig into what's going on here and how they plan to do it.
Their website, which you can check out here
, claims that "Howdoo combines every type of content: streams, posts, messaging, image and video sharing, blogs, community interaction and eShops. Want a total social experience? You got it." Howdoo users will experience "a fairer, clearer, higher-quality social media experience where you’re always in control." But what does that mean, and how will they put it all together?
Well, the angle they are taking is that content creators and influencers have to manage a host of different products to get their content out into the world. Each different avenue for media having a different interface, different rules, different economic conditions and agreements, different fees, etc. So what they are proposing is to take that all away and give you what you used to get from one, or many, handfuls of sites and put it all together in one place. You can manage all your content, and streams, and revenue all in one spot. Also you get to decide on how you want to earn. Do you want to go for likes and shares, do you want to put up a paywall, maybe subscriptions are your thing, they claim you control how you monetize your content. Sounds enticing.
There will also be eshops and network operator rewards. You will earn by selling things, or by providing financial or technical services to users. These are integral to the platform, but don't seem to get as much fleshing out on the website. But having those other forms of revenue will expand even further the potential user base for the platform.
So, there is all this monetizing...where does the money come from? Are users just ponying up the cash to pay for all this content? Well, yes and no. The users will opt in to earn from advertising, and content creators earn a cut on their channels. The advertisers will have multiple models to choose from, and I am going to be honest here, I really don't understand all the acronyms that were thrown out there. Suffice it to say it looks like they have options. They pay for advertising, users then opt in to earn from advertising, and the users then pay for content with their advert watching proceeds. All of this needs a medium of exchange... the µDoo.
Now, you may be wondering, how are we this far into a crypto article and we haven't talked crypto yet? Well that's the whole idea. Howdoo is trying to target average users, everyday people, non-crypto based influencers and content creators. They are keeping the crypto of it all a little bit in the background. That's to say, you don't need to be a crypto enthusiast to understand what they are doing or use the site. The µDoo will be the medium of exchange that really provides the utility to move value around the ecosystem. You can earn your µDoos right along side getting your likes.
The µDoo was initially launched as an ERC token. When the chain launches the µDoo will move onto it's own chain. Right in the Howdoo platform there will be an integral wallet. Your wallet will manage your µDoo but is also going to be a multi-chain wallet. Also right within the wallet there is planned to be a way to exchange that µDoo to other crypto or to fiat or to buy µDoo with fiat and crypto. They are also planning a debit card that allows you to spend your µDoo. This fluidity is all critical to their approach of going after everyone, not just the crypto world. Your advertisers can buy in fiat and work with the platform to launch their campaigns which will allow users to earn µDoo. That µDoo bounces it's way around the platform to content creators, influencers, eshop owners and network operators. Then wherever it lands it can be spent seamlessly as fiat. At least that's the plan. The platform itself does all the heavy lifting and crypto legwork for the users.
Now, if you are already a crypto enthusiast and the tech doesn't bother you at all you are good to go as well. The µDoo coins will be listed and traded on exchanges and will be able to come in and out of the Howdoo wallet just as any other crypto. So no worries, the crypto enthusiast is covered as well.
So what about the nuts and bolts of the chain. The chain uses Delegated Proof of Stake (DPOS) for it's consensus mechanism. This is a common enough protocol that has been used on many notable chains with varying degrees of success. The chain promises free transactions and relies on representative delegates. Those delegates come in two types, Super nodes and Seed nodes. These nodes will be dispersed around the globe. There will be far more Seed nodes which will work to proxy requests and receive answers from the Super nodes. The Super nodes are the producers for the chain and will handle the interactions with the smart contracts. These are the nodes that actually write the blocks after validating transactions.
It looks like this project has a huge idea and has set some lofty goals. Within the industry/industries they are taking on they are very diverse. They are coming right at a whole bunch of heavy hitters. But as a blockchain they are very focused. The chain doesn't look like it's trying to do too much, or needing other outside projects to have success. They have a product in mind and they are using the blockchain to deliver their product. Now, are they as decentralized as the POW chains, almost certainly not. But, are they more decentralized than the private companies they are attempting to compete against, almost certainly so. I am looking forward to watching how this plays out. They really are using blockchain to deliver their product rather than making a blockchain their product and hoping it delivers. It should be a great show to watch.
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