What is Audius (AUDIO)?
A decentralized blockchain-based platform called Audius allows users to stream and share music.
It was introduced in 2018, and the native token AUDIO powers the ecosystem.
Audius gives music producers complete control over the music they are streaming and sharing while allowing them to engage with their followers and listeners distinctively.
First developed on the POA network but currently residing on Solana, Audius is a decentralized music streaming technology.
Audius was established to address the inefficiencies in the music business brought on by opaque ownership of music rights and middlemen standing in the way of artists and their audiences.
Using its platform, powered by its native AUDIO currency, Audius seeks to connect the interests of artists, fans, and node operators.
Music can be uploaded by artists, distributed, and kept by content and discovery nodes for free listening by fans.
Nowadays, Audius compensates content producers by including their work in weekly trending lists.
Who Are the Founders of Audius?
Roneil Rumburg and Forrest Browning, two businessmen from California, launched Audius in 2018.
Deadmau5 and other musicians from the music business participated in a Livestream event for the 2019 public debut.
What Make Audius Unique?
The four key players in the Audius ecosystem are artists, fans, content nodes, and discovery nodes.
Given that only a small portion of money from the traditional, multi-billion dollar music industry goes to music producers, with whom the industry would only exist in the first place, Audius seeks to transform how music creators are compensated for their labor.
Audius has a distinctive approach to the market, rewarding network participants, such as users and node operators, for their participation in staking, sharing music, and running the network, in addition to its primary objective of enabling music creators to get paid for their music instantly through decentralized streaming services.
How Many AUDIO is in Circulation?
AUDIO’s initial token supply is 1 billion in total. There are 990,636,746 AUDIO coins in circulation.
How is the Audius Network Secured?
Due to the rising demand, Audius decided to move to Solana. Solana was selected, according to the team, for several reasons.
First of all, it costs only $10 for 1 million transactions. It is also quick, with block timings of 400 ms and confirmation times of less than a second.
Ultimately, Solana has over 200 nodes on its mainnet and is decentralized. As an ERC-20 token, AUDIO still supports staking and governance on Ethereum.
Solana is a layer-one blockchain with partial Byzantine fault tolerance and a proof-of-stake consensus method.
It has 200 nodes working globally that can process up to 50,000 transactions per second at their peak.
Solana distinguishes itself from slower blockchains by using a series of coordinated optimizations to attain such amazing speed and by handling transactions in a multi-threaded manner.
How Can Crypto Investors Use Audius (AUDIO)?
Music producers have complete rights over their music and can distribute and stream it over the Audius network in exchange for immediate compensation in AUDIO.
Fans can also use Audius to make playlists and share them with others to receive incentives.
Anyone can stake their AUDIO balances to become a staker, and AUDIO tokens are utilized as rewards.
These prizes are funded by ongoing coin issuance. AUDIO can also be exchanged on the cryptocurrency market to profit from the price difference between buying and selling.
Where to Buy AUDIO?
AUDIO is available on FTX, Binance, Uniswap (V2), BitStamp, and Gate.io.
FAQs
- Is Audius a good cryptocurrency?
Audius is a wise investment. According to AUDIO coin price predictions, it has long-term earning potential due to its rapid growth in the modern music industry.
- Does Ethereum power Audius?
Audius, based in the United States, uses the Ethereum blockchain for its tokens as a decentralized platform.
- Is there a future for Audius?
Our forecasts predict that AUDIO will be green by 2026. In 2026, it’s anticipated that the AUDIO will reach and surpass its peak.
At a minimum price of $0.967246 and an average price of $1.02 in 2026, the value of the digital currency is projected to reach $1.09.
