Audius: everything you need to know about AUDIO

What is Audius?

Audius is a blockchain-based music platform that allows users to upload, share, and stream their own music. The platform aims to decentralize the music industry by giving power back to the artists and fans. Instead of relying on intermediaries like record labels and streaming services, artists can directly connect with their fans and offer their music on their own terms. This results in a fairer and more transparent music world, where revenue is distributed fairly between artists and listeners. 

Audius uses blockchain technology to make music transactions secure and transparent. The platform is built on the Ethereum blockchain and utilizes smart contracts to provide transparency and efficiency in rewarding artists and curators. 

How does Audius work?

Audius operates as a decentralized music streaming platform that allows musicians and fans to interact directly without intermediaries. The platform is powered by blockchain technology and enables artists to upload, verify, and distribute their own music, all without relying on traditional streaming services. This allows fans to directly engage with the artists they support, creating a new level of engagement and transparency in the music industry. The use of blockchain also provides enhanced security and privacy for users, as all data is stored on a decentralized network that cannot be unilaterally manipulated or controlled by a single party. 

The AUDIO token

The AUDIO token serves various functions within the Audius ecosystem. It acts as a means of payment for users to access premium features, unlock exclusive content from artists, and support their favorite entertainers. The token is also used as a reward mechanism for artists and curators who contribute to the platform by creating content and playlists. Additionally, a portion of the service's revenue is reinvested in the Audius ecosystem, creating scarcity in the token and potentially increasing its value. The token is built on the Ethereum blockchain and is compatible with the ERC-20 protocol. There is a fixed supply of 1 billion tokens, and no new tokens will be created. 

Overall, the AUDIO token is an essential component of the Audius ecosystem, benefiting both users and artists by providing the advantages of a decentralized music streaming service. 

The Technology Behind AUDIO

The technology behind AUDIO is built on the Ethereum network and utilizes the custom Audius Chain for managing music files and transactions. This chain operates on a Proof of Stake consensus model using the Tendermint protocol for transaction processing and validation.

Audius provides services to artists and listeners, including direct music upload and distribution without intermediaries. The platform employs IPFS (InterPlanetary File System) to store music files in a decentralized manner, making them accessible to all users.

Audius features an advanced governance system that offers stakeholders a say in decision-making. Voting rights are allocated based on the number of tokens a user holds, allowing the community to make decisions on matters such as protocol upgrades and reward structures.

The primary goal of the technology behind Audius is to create an accessible and decentralized music distribution platform using smart contracts, a sidechain solution, and IPFS for secure and reliable music sharing.

The Audius ecosystem

The Audius ecosystem is a decentralized platform for sharing and streaming music using blockchain technology. The platform consists of various players, including artists, listeners, curators, node operators, and developers. 

• Artists can upload their music to the platform and manage their own profiles. 
• Listeners can browse the music library, stream songs, and follow their favorite artists and playlists. 
• Curators can create playlists and collections. 
• Node operators contribute to maintaining the network. 

The platform uses a peer-to-peer network for music streaming, reducing the costs of hosting music files. Through smart contracts, artists and curators are rewarded with the AUDIO token, which can be traded on exchanges. The Audius ecosystem is governed by a decentralized autonomous organization (DAO) in which holders of the AUDIO token can vote on key decisions. 

Benefits of Audius

What are the advantages of Audius that users are so satisfied with? 

• The platform offers music in very high audio quality. 
• Artists can independently release their music via Audius. 
• Accessible and user-friendly. 
• Community-driven platform. 
• Low transaction costs. 

Drawbacks of Audius

What drawbacks of Audius should users and investors consider? 

• Relatively limited adoption and awareness. 
• Competition from both traditional and blockchain-based music distribution platforms. 
• The platform is influenced by legislation within the music industry. 

Who is the founder of Audius?

The founders of Audius are Roneil Rumburg and Forrest Browning. 

Roneil Rumburg became interested in crypto in 2013 and co-founded Backslash, a protocol aimed at simplifying the sending and exchanging of cryptocurrencies. 

Forrest Browning had previously co-founded StacksWare, a data center management platform for the enterprise market, as part of a research project during his studies at Stanford. StacksWare earned Browning a place on the Forbes 30 Under 30 list for entrepreneurial technology in 2016. 

Rumburg and Browning founded Audius in 2018, and the public launch in 2019 included a livestream event featuring deadmau5 and other well-known figures from the music industry. 

Price forecasts

In 2026 experts expect a minimal price of €0.4900 and a minimal price of €1.64 in 2031.