Audius - Decentralized Music Platform | Crypto Academy / S5W3 | Homework Post for @wahyunahrul
Welcome once again to another wonderful episode in the crypto Academy community. Before I present my homework post, I would like to acknowledge the professors and the crypto Academy community for making such an educative lecture possible. Today’s topic is technical Decentralized Music Platform
Without wasting enough time I would present my homework post systematically based on the questions from the professor @wahyunahrul.
1.What do you think about the presence of the Audius platform in the music industry
Music is the art of blending sounds with melody, rhythm, and harmony to express feelings, and it is one of the most popular forms of entertainment in the world. Music is essential because it can improve one's mental health and have a beneficial impact on people's mood; it is also a universal language that can bring people together.
The music industry aids in the creation, promotion, and management of music. It serves as the link between the composers and the listeners. There have been various technological and blockchain advancements around the world to discover solutions to challenges in all aspects of life, including music. I'm pleased to report that Blockchain technology has improved music by developing Audius.
Audius is a decentralized platform that allows any musicians, whether or not they are signed to a label, to share music, stream music, and establish a fanbase. Roneil Ramburg and Forrest Browning, both Blockchain experts, launched this platform in 2018.
Audius presence has had an impact on the music industry in terms of music ownership, monetization and reducing cost and time spent on third parties.
Since then, there have been concerns with song theft, which continues to this day. People plagiarize music that has been developed by others. As a decentralized platform, Audius enables song owners to retain ownership of their tunes. It uses Blockchain technology to store information in a ledger that no one can alter, as well as produce a valid Digital Copyright.
Typically, music producers must join a record label and earn when a promotion is successful in selling. The Audius platform has simplified monetization and reduced the cost and time spent searching for a reputable music label. This technology rewards music creators every time their song is streamed by earning AUDIO, a cryptocurrency. Aside from making monetization easier, it allows music creators more freedom by giving them complete control over their work.
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Audius has been successful in attracting a large number of investors to the platform. The total amount of active AUDIO tokens is 314 million, with 6,600,366 unique users and 87,926,999 API requests this month. The price of AUDIO token is currently 2.33.source
Audius was able to form a partnership with Tiktok. It's also a wonderful venue to promote music.
2. With the governance system used by Audius, do you think that system has made Audius a fair and fully decentralized platform? If not, please provide your personal suggestions for the system that Audius uses to make it more fair and decentralized.
Audius has become a fair and fully decentralized platform as a result of the governance system, which allows Audius users to participate in the governance voting protocol. Users can use the AUDIO token to suggest new features or comment on improvements to existing ones. Allowing users to vote on features will help in the improvement of the platform.
For every governance proposal there’s a proposer (the address making the proposal), Description (the details of the governance proposal), For (the number of votes for the proposal) and Against (the number of votes against the proposal). A proposal can only pass if more than 5% of all staked $AUDIO votes and more than 50% of the votes in favor of the proposal.
I believe Audius has created a fair and totally decentralized platform with this criteria for the governance system.
3. Explain how to do 2 types of staking on Audius complete with illustrations. (Image Required)
The two types of staking are
Staking AUDIO tokens to become a node operator. This requires you to spend more money on AUDIO tokens and a computer, making the process more difficult.
The other option is to join a node operator and split the earnings with them, which is the simplest option.
You must connect to a Metamask wallet and have AUDIO tokens in it to stake.
How To Connect Metamask Wallet
- Visit audius
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- click on Eplore Dashboard
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- click on Services
- click on Connect Metamask
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- Select Metamask operator
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- click on open Metamask
- Unlock Metamask
How to stake as a client
STEP 1
- Download Matemask wallet.
- Connect Matemask wallet, go to services and choose a node operator you want to delegate to.
STEP 2
- Select delegate in the top left corner
STEP 3
- Enter amount of AUDIO tokens you want to stake and select delegate
4. Show the steps to create an account on Audius. (Screenshot Required)
This is how to create an Audius account
STEP 1
- Visit the website audius.io
- Select Sign up free
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STEP 2
- Enter a valid e-mail
- Click continue
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STEP 3
- Enter password twice
- Password must contain numbers
- Password must be difficult to guess
- Both passwords must match
- Password length must be at least 8 letters
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STEP 4
- You are allowed to link your account to Instagram and twitter to complete the sign up.
- You can also do it manually which i chose
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STEP 5
- You have to upload a profile picture
- Add a name that will be displayed on your profile
- Add a username or handle( a unique name that can be used to identify you)
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STEP 6
- Follow at least 3 Artists to continue the sign up
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STEP 7
- Wait for a while for account to be ready
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STEP 8
- Click on start listening at the top right corner
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5. Explore and explain the features available on the Audius application or website. (Screenshot Required)
PROFILE
Your profile is where you can update your picture and cover picture
You can also know more about your account at your profile, your followers and number following
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TRENDING
Trending page is where you can see the current top most streamed songs and artists.
Mostly the best songs trend so it is easy to identify them.
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FEEDS
The homepage, Feeds is where you will see songs and posts of artists you are following
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MUSIC PLAYER
This feature is used to control the songs you are listening
It can be used to forward songs ,repeat and also shuffle through
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SETTINGS
Settings can be used for different purposes
It can be used to change appearance
It can be used to change password too
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6. Explain in detail how the mechanism of uploading music content on Audius.
Audius has two types of nodes: content nodes and discovery nodes.
When an artist uploads audio, the content nodes save it and convert it into a reference code. The information is sent to two network nodes.
An onchain transaction is created to show that the track exists on Audius and that the metadata is associated with the user who uploaded the content.
The discovery node accepts the data from the onchain, hashes it, and indexes it when it has been confirmed. When the content appears on the discovery node, the upload is complete
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7. Upload your original music to Audius and show the proof using a block explorer. (Screenshot Required)
How to upload your track
STEP 1
Open your profile page
Click on Upload track
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Step 2
You can choose to drag and drop the track there
Or click on “browse to upload” and select the track
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Step 3
Click on continue after selecting the track
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Step 4
Complete your track by adding art work
Choosing the genre
Choosing the mood of the track
Writing a description of the track
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Step 5
Wait for track to be uploaded
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Step 6
Track upload is complete.
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CONCLUSION
Technology has had a significant impact on the planet in every element of existence. Blockchain technology has proven to be quite useful in resolving global challenges. Audius is a platform that focuses on making music creating more accessible which is part of Blockchain technology's wonderful job.
By granting legitimate Digital copyright to their content, Audius has helped in the protection of musicians against song piracy. Also with no third parties involved, the Audius platform has made music monetization easier and simpler. It has also allowed musicians to have more control over how they organize, manage, and commercialize their work. Owners of songs no longer need to contract with a record label to receive money.
Professor @wahyunahrul deserves special credit for introducing this class.