[Audius - Decentralized Music Platform] || Crypto Academy / S5W3 || Homework Post for @wahyunahrul || BY @saarah

in hive-108451 •  2 months ago 

Greetings to Everyone

Hope you all are fine and in good health!

Today i am going to participate in the Home Work Task of Season 5 Week 3 Which is "Audius - Decentralized Music Platform" given by the Professor @wahyunahrul .

I am very excited to attempt this homework task and, I would like to say thanks to Professor @wahyunahrul on his remarkable efforts in Crypto Academy.

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Question# 1

What do you think about the presence of the Audius platform in the music industry ?

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Music is an art that serves as a relief to many. This combination of tones and vocals has become an essential part of almost every individual along with their specific tastes. It has become a huge source of entertainment for people of all ages. Especially the youth is highly impacted by this. They simply love to listen and enjoy the art. They are completely involved in music whether driving a car, attending some sort of party or function, in different shops, or even when falling asleep. Music for them, not only serves as a stress reliever but also a source of joy and pleasure.

Along with the advancement in technology, the music industry is also evolving. Many of the artists are now emerging and gaining a huge fan following. Besides that, there are also a huge number of artists who are not able to bring their music to the global level. The reason can be the lack of financial resources or also the fear of getting copied by some other musician. The solution to this problem is provided via BlockChain by Audius.

Audius is a decentralized music streaming platform that empowers music artists and assists them to monetize their talent. Being loaded with social networking features, the platform assists music content creators to show their talent and grow their fan following.

Audius has revolutionized the music industry in the following ways

Copyrights

The most occurring issue in the music industry is copyright. A lot of new artists suffer from music theft. Having no claim, their music gets copied by some other artist leaving behind the dust for the original creator. Audius solved the issue and provides ownership to the original content creators through its blockchain technology. Being a decentralized platform, only the person who owns the token is considered as the owner and creator of that masterpiece.

Profit claims

Audius provides the content creators to own complete profit earned on their content. Usually, a big amount of profit goes for the publishers and other media partners. However, Audius provides the whole profit to the artist only without any interference from media partners.

Monetization

A major problem that most artists face when working on online platforms is monetization. Different platforms as Spotify and Youtube deduct a major amount for monetizing the whole content. Audius provides the facility to its artists and provides them complete monetization and with almost no deduction.

Publicity

Getting publicity is the most important aspect of the music industry. To be a successful artist, you must have a big fan following. It costs a great amount and time for artists to raise their fan following but Audius has also solved this issue. Through its blockchain technology and social networking features, the platform ignites your talent and help you grow by making your content reach the global audience.

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Question# 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 ?

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The governance system used by Audius has made it a full and fair decentralized platform. Audius’s decentralized infrastructure is driven by the core principle of Governance. In the governance process, the Token holders of the audio use the on-chain proposals to enact changes to Audius that allow them to directly shape the future iterations.

With the governance system, the users or the token holders have their own voice on the platform. They can vote for the changes, features, can raise queries, and report any negligent behavior through the governance system. For sure the platform has provided the power to music influencers that the music industry failed to give.

Unlike the centralized music industry, the Audius platform provides complete transparency. It supports its music content creators to protect their rights and decisions. Even related to the amount paid to the musicians, or copyright issues on songs, or involvement of the third parties, the platform protects and strengthens its artist as compared to other platforms and the music industry.

The most significant factor is the foundation structure of the platform that is Ethereum Blockchain which makes it completely decentralized and secured. The ERC-20 token also called the Audio serves as the security mechanism for the platform. This token serves for the governance process and the token holder is provided with the facility of on-chain voting. So undoubtedly, the governance system has made the platform fully and fairly decentralized.

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Question# 3

Explain how to do 2 types of staking on Audius complete with illustrations. (Image Required)?

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Being a completely decentralized network built on Ethereum, the stats and content on Audius are indexed by a growing network of a third-party node operator.

The two types of staking on the Audius platform are

  1. Operator staking
  2. Staking delegation

Operator staking

Node operators on Audius are used for the purpose to validate data and information. The operators are expected to stake the tokens to maintain the content and data stored on the platform and also for better liquidity and smooth operations.

As the node operator stakes more Audio tokens, the security level of the platform increases as well. The process requires you to purchase as many Audio tokens along with highly sophisticated software for the tokens to serve as node operators. The minimum staking number must be 200,000 AUDIO to serve as a node operator.

Staking delegation

The Audius platform introduced a 2nd type of staking as the staking as node operator was becoming much expensive. The staking delegation includes the staking of delegated audio tokens to node operators and then distributing the reward gained according to the delegators. The type is cheap and lets every token holder participate in staking.

Follow the simple steps for staking delegation

To begin with, you will be needed to connect the protocol with your wallet. Go to the Audius platform after downloading Meta Mask and click on the token.

Then you need to click on the option Explore the Dashboard.

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You’ll have an option “connect metamask”, click on it and enter the Password

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Then on clicking the “unlock connect” option, click next

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Click on the “service” tab. Then select “figments” from the list of node operators.

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Click on delegate and add the amount of tokens. For this node operator, you will be limited to adding 5,000 tokens

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Select the option of “connect with metamask”

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The last step is to pay the network fee.

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Question# 4

Show the steps to create an account on Audius. (Screenshot Required)?

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Here is a complete and step-by-step guide showing the account creation process on Audius.

Go to the link https://audius.co
Click the option “sign up free”

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Click the “continue” option to sign-up using email address else go for the option sign up with meta mask

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Create a strong password using both alphabets and numbers

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You can set up manually or can continue with Twitter or Instagram

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Then simply enter your name and add a profile picture along with your user name

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Get started by following at least 3 artists on the platform.

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Within a while, you will get your account ready to use.

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Question# 5

Explore and explain the features available on the Audius application or website. (Screenshot Required)?

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The Feed
The feed is the homepage that will show the posts of other artists, your activities on the platforms, and reposts. You also get the filter option to what you want to see. Just go to the top right corner and select all posts, original posts and repost.

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Through here you can like, play, share, or even can repost the content. You can also add your favorite track to your playlist by clicking the three dots below. Here you can also select the options as visit track page, visit artist page and embed.

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On visiting the track page, you will notice the details of that track as Reposts or Favorites, etc

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On visiting the artist page, you will see the tracks of that particular artist, his albums, fan following, playlists, and buttons such as share and follow, etc.

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Profile page

Profile page contains all your posts, uploads, and details that you can also edit. You can also edit your personal details and profile picture by clicking on edit profile. You will also find the options of the playlist, followers, and following. Also, you can upload your own track from here.

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Explore
The feature will provide you with the content of your taste according to your previously liked posts.

Trending
This feature provides you with the most popular tracks. Also, you can filter the trending songs under the category of the day, month, and all time. You can also select your particular genre or can select all genres to enjoy different categories.

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Trending
This feature provides you with the most popular tracks. Also, you can filter the trending songs under the category of the day, month, and all time. You can also select your particular genre or can select all genres to enjoy different categories.

Library
This feature provides you with the tracks that you selected as favorites. Also, you can select history to see your previously listened tracks.

Playlist
The feature provides you the playlists that you liked or you can also add a new playlist manually.

Settings
On clicking the three dots, on the left top corner, you will get the settings option. This will show you the platforms for mobile and desktop, themes, or any verifications pending from your social media platforms.

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Sound and Rewards

You will find this feature below settings. This will help you see your rewards and audio balance. Also provides the option of sending or receiving Audio tokens and "connect other wallets" options.

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Question# 6

Explain in detail how the mechanism of uploading music content on Audius?

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The uploading mechanism of content on Audius is interesting and secure as well. The mechanism involves a few steps to let the content available for the audience. Generally, several nodes work together to upload the content and to maintain its quality.

The process of uploading is as follows.

  1. The artist or the creator uploads the content
  2. The uploaded content reaches the content node and store its data
  3. Then comes the referencing process in which the data is transcoded and is assigned a unique code called the reference code. The code is used to identify the track on the Audius platform.
  4. The additional copies of the data are generated and then it travels to the two other content nodes.
  5. The track gets devoted to the user’s profile and then the discovery node records the transactions.
  6. The discovery node hash and index it and notify the user.
  7. The content gets successfully uploaded.

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Question# 7

Upload your original music to Audius and show the proof using a block explorer. (Screenshot Required)?

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From the Audius platform, click upload tracks

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Click browse to open files in the system and then select the file you want to upload

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Then select a mood and genre for your content and add artwork. Tag the people you want and then simply click continue.

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Click on “continue” and within a few minutes, the content will be uploaded.

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Conclusion:



Audius is providing reliable source and platform to the music lovers, creators and producers by helping them with the monetizing of their content. And by the help of Decentralization they have more control over it compare to other music networks. After attempt of this home work I got to know about new platform where we can earn easily by the music uploading and sharing.

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Note :

All the images of the have been taken from the audius.co .

CC:
@wahyunahrul

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My Transferred History #club5050

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