The DogData network is designed for dog owners community. It will develop products and services that will help improve the welfare practices of the dogs. However, owning a dog requires a continuous investment. The cost of obtaining a puppy and the running cost of maintenance is on the high side.
The average annual expenditure per dog in the pet marketplace is valued at about 1650 USD. Notably, these values are not constant and can vary largely, depending on the breed. The dog activities, health condition and country of breeding can also contribute to an increase or decrease in the average price per year. Therefore, DogData has developed a token that will help reduce the overall maintenance cost of achieving perfect dog welfare. The Etherbone token can be used to obtain products and services like vaccines and immunization at the DogData 4Dogs marketplace.
The Etherbone token
The aim of DogData is to ease the operations of the dog owners community, while maintaining perfect pet welfare. Thus, the creation of Etherbone Token economy. The Etherbone tokens are an electronic form of discount that is used in purchasing products on the 4Dogs marketplace. There will be a seamless ease of use of the Etherbone token in the DogData economy without restrictions in connected countries. The Etherbone token are minted with a private technology representing the registration of dogs. The Etherbone token can only be utilized as a discount once.
Mining of the Etherbone tokens
All blockchain technology require a mining process which can describe the minting of new tokens within the system. The Etherbone token is no different. However, unlike many cryptos that require cryptographic problem solving, Etherbone tokens are mined and earned strictly by dog owners, breeders and other community participants.
The tokens are earned when network members update their dog information on the immutable private blockchain. Also, when members record dog life events in the DogData data vault, they are paid etherbone tokens that are minted.
The DogData smart contracts contains a few milestones that the dog owner is expected to complete, once completed, they are rewarded with the Etherbone token. The overall dog sale smart contract and other bounty programs that show an expected level of dog welfare are rewarded with the Etherbone token.
In simple terms, the Etherbone tokens are minted to help reduce the overall cost of caring for a dog.
Key Advantages of The Etherbone token
Global Coverage
DogData will be able to market its products and services globally through the Etherbone token. Notably, countries that have laws against cryptocurrency will not be able to stop the functionally of the Etherbone token
Minute transaction fees
The private blockchain employed in this network will in turn reduce the running cost, since all operations are done within the Dogdata Etherbone token economy
Steady and Stable demand for tokens
The demand for the Etherbone token will be steady and strong because a number of dogs owners will be fascinated by the idea of using it as a discounting measure in the 4Dogs marketplace. And the member that cannot earn enough Etherbone tokens will have to buy which will spur a constant demand.
Conclusion
The Etherbone token and its discount capabilities will help to ensure the dog owners community record every of their operations on their pets, since new tokens are minted and earned by recording your activities on the database.
It the last piece that completes the overall functionality of the DogData platform.
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ETH Address: 0x4F70c5e328B15825Fa456a4F32fEeF315ba88FDf