audius

Audius crypto (AUDIO): Your DeFi Music Streaming Platform

The cryptocurrency business has practically taken over the entertainment industry, even engulfing the music industry. Given the joys and solace provided by music and the significance of the income generated annually, there have been worries that musicians need to be appropriately rewarded for their work. Audius (AUDIO) argues that integrating cryptocurrency into the music industry might close this gap. As a result, it has sought to develop a decentralized music-sharing and streaming protocol powered by the blockchain network to allow artists to manage how their music is monetized while also connecting directly with listeners.

 

 

Audius website

What is Audius (AUDIO)?

Audius, a decentralized music streaming platform, lets users directly fund musicians with its native cryptocurrency, AUDIO. Audius hosts approximately 100,000 musicians and over 6 million unique users as of December 2021. According to Audius, music curators will earn 90% of the revenue in AUDIO tokens, while node operators (stakers) supporting the Audius network will receive 10%. Audius is a layer 2 blockchain system built on the Ethereum sidechain POA Network. 

In 2020, Audius moved its content management system to the Solana blockchain to improve performance because of the rising demand for streaming video. AUDIO, its native coin, stays on Ethereum. Stakeholders can vote on network upgrades using AUDIO, an ERC-20 governance token. You can unlock special perks by staking AUDIO coins.


How Audius Works?

Audius promises to overcome the difficulties that musicians experience in the music industry, such as music rights, royalties, and ownership, by allowing anybody to share, sell, and stream music. Unlike typical music distribution platforms, Audius does not compensate artists based on the number of times their songs are played. It also considers artists' activity on the site, how they connect with fans and general user engagement.

Artists may use Audius' decentralized nodes to upload and distribute their tracks. There are various methods for artists to monetize their audio output without giving up ownership. By confirming their social media accounts, they may obtain Rewards by reaching the Top 5 Weekly Trending Tracks, Top 5 Weekly Trending Playlist, Top 10 Monthly API App, and first track upload.

Audius also allows artists to interact with their community through artist tokens. Holders of artist tokens get unique access to token-restricted material such as unreleased tracks, remix competitions, and so on.


Unique Features of Audius

Audius provides its users with unique features; here are some of them, each detailed separately.

Content Nodes

These nodes host, maintain, safeguard, and manage material without the artist's interaction. These nodes are solely responsible for ensuring the availability of music content on behalf of the music creator. 

AudSP

This serves as a decentralized storage system that aids in file distribution throughout the Audius protocol. It ensures that the platform has a democratic user interface while facilitating a familiar user experience that is simple, quick to navigate, and highly scalable.

 

 


Discovery Nodes

These nodes are dedicated to allowing fans to discover music material on the network. It serves as an indexing technique for metadata users to effectively query on the network.

Contents Ledger

The Audius Content Ledger is a decentralized procedure that allows Audius network artists to govern their income splits and track content and the content ownership structure. 


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This page is last updated on 2023-03-02 12:21:46
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