Audius is a blockchain-based platform that brings together music producers and music listeners. It aims to eliminate the problems that can occur in the traditional music industry. The native cryptocurrency of the Audius platform is AUDIO. In this article, we will look for answers to questions such as what is Audius (AUDIO), what does Audius (AUDIO) do, what are the advantages of Audius (AUDIO).
What is Audius (AUDIO)? What Does It Do?
Audius is a music streaming platform that brings music producers and listeners together and facilitates transactions between them. On centralized music platforms, artists may experience problems such as low revenues, delayed royalty payments, restricted control. Audius aims to be a solution to the problems of the traditional music industry .
On Audius, which is based on Ethereum, all users can freely distribute and stream music . Those on the listener side are free to discover a wide range of music . Social network integration allows music to spread easily among listeners. Audius also helps artists to secure their work. Audius has a decentralized network structure, and creates music that is dated and unalterable.
Audius aims to enable artists to meet directly with listeners, and to pass on the revenue generated by the intermediaries to the artists. The most listened songs and playlists on the Audius platform are rewarded with AUDIO, the project’s native token. The Audius platform uses AUDIO, the project’s native cryptocurrency, for transaction fees, network security, governance rights, rewards, artist payments. In addition, users who “stake” their AUDIOs also open the door to passive income.
What Advantages Does Audius (AUDIO) Offer?
Audius aims to transform the music experience by bringing a decentralized approach to the music industry, acting as a direct bridge between artists and users. The advantages it provides to realize this are as follows.
Decentralized Structure:
Audius strives to bring an innovative perspective to the music industry with its decentralized structure. To this end, it eliminates intermediaries and offers an ecosystem where listeners and artists can interact directly. Artists can upload their music directly to the platform and connect with listeners.
High Scalability:
Audius offers parallel processing capabilities and fast block generation time. This ensures that the Audius platform is not overwhelmed by thousands of users and large amounts of content.
High Artist Income:
In the traditional music industry, artists’ revenue shares may remain low. Audius focuses on providing an environment where artists can earn high revenues. Artists earn on the AUDIO token based on the number of listens to their music, royalties and revenue from users.
Low Transaction Fees:
Audius charges low fees for transactions carried out on the platform. This alleviates transaction costs that can be high in the traditional music industry.
Copyright Management:
Audius prefers transparent copyright management for artists and rights holders. The very essence of blockchain technology is that it provides a secure infrastructure for registering and tracking royalties and automatically realizing payments.
Community Engagement:
Audius cares about being a community-based platform. Users on this platform can discover, share and interact with the content inside. In addition, community members can participate in governance processes, make decisions about the future of the platform and voice their opinions.
Easy to Use:
No knowledge of blockchain or crypto is required to use the Audius platform. Audius, which offers an easy-to-use interface to its users, aims to serve everyone rather than the crypto world with this feature.
How does Audius (AUDIO) work?
The Audius network hosts three distinct groups: artists, listeners and node operators. Node operators are divided into content and discovery nodes. Some of these nodes serve to store and add content to the blockchain. The other part brings artists together with the audience.
Artists interested in content nodes can host their own music on their interface without being involved in other nodes. Artists who host their content additionally receive content encryption keys. This is how they have additional control over their music.
Only artists who want to host their content for uploading to the platform are matched with a random content node. If a content node becomes unavailable, the blockchain automatically replaces it with a new node without involving the artist.
Who are the Founders of Audius (AUDIO)?
Roneil Rumburg (Co-Founder & CEO) – Forrest Browning (Co-Founder & CPO)The Audius platform was created in 2018 under the leadership of Roneil Rumburg and Forrest Browning and launched in 2020.
Roneil Rumburg has extensive experience in computer programming and has honed his skills in the blockchain and artificial intelligence sectors. Forrest Browning, the other co-founder of the Audius platform, is the founder of StacksWare, which he started as a project at university. Forrest Browning was also included in Forbes‘ list of successful people under thirty.
If we need to give a common information about these two names, we can say that they are fans of electronic music.
To sum up, Audius is a decentralized music streaming and sharing platform that offers its users the opportunity to interact directly with artists. It brings artists and listeners together, with its focus on eliminating the middlemen in the music industry. It strives for a fairer, more sustainable economy for the music industry and a richer music experience. With its decentralized structure and innovative approach, Audius promises to lead the transformation of the music industry in the future.
What Other Things to Know about Audius (AUDIO)?
To find out a little more about Audius, it is worth taking a look at the answers to some of the questions below.
Is AUDIO a token? Or is it a coin?
Coin is a cryptocurrency created on its own blockchain. A token is a cryptocurrency that does not have its own blockchain and is created on an existing blockchain. Since Audius does not have its own blockchain, it is a token.
Which blockchain is the AUDIO token on?
The AUDIO token is on the Ethereum blockchain and uses the ERC-20 standard.
Is AUDIO token mining done?
AUDIO is a utility token. Therefore it cannot be mined.
How to buy AUDIO tokens?
To buy AUDIO tokens, it is sufficient to create a membership on ICRYPEX. Once the membership process is complete, it’s fast, easy and secure to trade other cryptocurrencies including AUDIO token.
How to Become a Member of ICRYPEX?
After visiting www.icrypex.com from a browser, you can click on the “SUBSCRIBE” button at the top right of the page, fill in the required information and you can easily create your membership.
From mobile devices, primarily;
Android users can download our app by clicking here, Apple users by clicking here and HUAWEI users by clicking here. After logging in to the application, you can click on the menu icon at the top left, then click on “SUBSCRIBE” to fill in the required information and easily create your membership.
