Hello, every person.
Welcome to this post. Hopefully, all of you will be good and enjoying your health with the grace and blessings of Almighty Allah. Today, I am here to present the homework post for dear professor @wahyunahrul in Week 3 of Season 4 of Steemit Crypto Academy. The lecture was very awesome and I will make a task post for it. So, let's start our task without any wastage of time.
There are some questions that are asked by the professor as the assignment for this week and I will try my best to explain them in the given order.
What do you think about the presence of the Audius platform in the music industry?
There are some things that had been the source of entertainment for man and these things are writing, reading, plays, dramas, films and many more. Music is also one of them. There are such music lovers present in the world that gets mental peace while listening to their favorite music and they specifies a special time for music in their daily lives. Such a great attachment of music with the humans is really appreciable.
Some people love to listen to rock music while others used to listen to peaceful and evaluated poetical and classical songs or kinds of music. The musicians that create the music with their great efforts demand good remarks from their audience. There are also some unpeaceful scenes in the history of the music industry. There are many cases when the music that is created by a musician is copied by the other musician and becomes the source of fame for the plagiarist musician.
There are also many cases when the musician remained unpaid for their efforts. To overcome this situation, the entry of decentralization was very important for the growth of the industry so that the real owner of the music can get rewards for their efforts. So, this is done by the development of a Decentralized Music platform named Audius.
As we all know that the blockchain technology is growing day by day and it has affected all the fields of life. So, the Music field has also tasted the taste of Blockchain technology. Yes, blockchain technology has also entered the field of music. This is done with the development of a Decentralized Music Blockchain platform known as Audius.
Audius platform is a blockchain music platform that was developed by Roneil Ramburg and Forrest Browning in 2018. Thanks to both of these great personalities to provide such a great turn to the music world. The main purpose to develop this great decentralized blockchain platform was to provide real ownership to music, provide clarity to the music industry, and reward the musician for their efforts.
Some of the things that the Audius platform has contributed to the music industry are as follows.
- Eradication of Fakeness:-
Like all the other industries, the music industry has also been a ground of fakeness and unpeaceful. The history of music is full of such cases when the work of an unknown artist became the source of fame and reward for another artist. Popular music artists play with the efforts of the poor unknown artists. With the development of the Audius platform, as a Decentralized platform, the fakeness, and content-stealing is reduced as the musician on the Audius platform can upload their own music and this music cannot be copied by the other artists in Audius. In this way, a peaceful environment has provided to the music industry.
- Cheap Way to provide Music:-
In past, when a singer wants to get a song to the public then, first of all, his song was sent to third parties and these third parties get control of the music and issue extra charges for the issuance of the song. In this way, the music reached the public after a heavy cost. But, with the development of the Audius platform, the singers can upload their music to the public at very low costs and the music lovers can enjoy the music instantly on the Audius platform.
- Less Time Requirement:-
As I have described earlier that in past, the issuance of a song was a time-consuming process as the third parties are involved in the issuance of a song. But decentralization of the Audius platform has reduced the time required for the music to reach the public. Now, the users can enjoy the music whenever and wherever they want.
- Complete access to Reward:-
In the traditional music industry, before a song is released to the public, it is given to a particular music company that gives its logo or watermark to the music before releasing it. In this way, the writer or creator of the song is rewarded with a very low amount and the companies get most of the reward. But in the Audius platform, there is no need of using any logo company to avoid the copyright of the song. The creator of the songs can get 100% rewards for their efforts in creating the music. The more the music is liked by the public, the more will be the reward given to the musician.
The Audius platform has also provided a worldwide approach to the musician of the world. Now the singers can upload their music from anywhere throughout the globe and the audience can enjoy their favorite music or their favorite singers throughout the globe. In this way, the musician can get a global fan following and they can modify their skills according to the taste of their audience.
Besides these, there are also many other impressive factors that the Audius platform has contributed to the music industry.
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.
I believe that the Audius platform is a fair and fully decentralized platform for the music creator and music lovers. There are several reasons for this belief. One of the reasons that make me believe the decentralization of the platform is the voting system in the platform. The users of the platform can take part in the decisions of the platform and show their response towards any decision openly by utilizing the AUDIO tokens. Users can make changes to the platform by participating in the voting window. 1 vote is worth 1 AUDIO token and thus the more AUDIO tokens a user has, the more will be its voting power in the platform. So, this thing is proof of the decentralization of the Audius platform.
Another important factor that is claiming the decentralization of the Audius platform is the transparency of the system. In the traditional centralized music industry, the logo companies that avoid the copyright of the music got most of the reward of the song and the creator of the song only got a minor reward, and this reward was not transparent for the audience. But in the Audius platform, the reward of the singer or musician is transparent for the users and there is no involvement of logo companies. So, the transparency of the system makes it decentralized.
I believe that the governance system of the Audius platform is decentralized because this platform is built on the Ethereum blockchain which is one of the most popular and best-decentralized blockchains. The ERC-20 token of the Audius platform is AUDIO that makes the ecosystem of the platform, more secure and healthy. Thus, I think the Audius platform is a decentralized platform.
Point to be improved...
Besides all, one thing that is, I think, used to be improved is the consensus mechanism of the platform. There are actually two nodes in the platform. One is the Content node and the second one is the Discovery node. The selection of both of these nodes requires a number of AUDIO tokens to store that are of high worth. So, this thing shows that the platform is based on the PoS (Proof of Stake) consensus mechanism that asks the users to stake an amount of AUDIO token.
This thing can be improved by developing a new consensus mechanism which is Delegated Proof of Stake (DPoS). This consensus mechanism can be used in the platform to reduce the heavy load on users for being selected as any of the nodes. This is my little suggestion to improve the decentralization of the Audius platform.
Explain how to do 2 types of staking on Audius complete with illustrations. (Image Required)
As we have discussed that the Audius platform is based on Proof of Stake so there are two types of staking in the Audius platform that are as follows.
One type of the stakig on the Audius platform is the staking that is done by the operators of the nodes. As we have discussed before that there are two types of nodes in the platform. One of them is the Content node and the second one is the Discovery node. The operators of both of these nodes have to stake the AUDIO token. The purpose to stake the tokens is to increase the security level of the system. The more the AUDIO tokens are staked, the more will be the security of the syestem.
The Audius platfor requires a minimum of 200,000 AUDIO tokens to be act as a node and take part in the decision making process of the system. The more will be the AUDIO tokens staked by the node operators, the more will be power of that node to make powerful decision in the platform. So, if a node operator want to make a successful decision, firstly, it have to store a huge amount of the AUDIO tokens.
The staking of AUDIO tokens by the nodes is of great benefit for the platform as well as the node itself. The reward in the form of AUDIO tokens will be distributed among all the nodes according to their staking in the form of AUDIO tokens. So, to become a powerful and successful node operate, it is necessary to stake a huge amount of AUDIO tokens.
The second type of staking in the Audius platform is Delegated staking. As the word shows on its own that the type of staking in which the AUDIO tokens are delegated by the investors to the nodes. In this type, the users of the platform delegate their staked AUDIO tokens to the node operators and get the percentage reward in return, proportional to their delegation.
Most of the users cannot manage to stake a huge amount and act as a node so they delegate their AUDIO tokens to different nodes and get rewards. The reward percentages are distributed by the node operators among all the delegators on weekly basis. The more the investor has delegated to the node, the more will be the reward given to the investor in return.
Let's discuss the method to stake the AUDIO tokens on the Audius platform. So, have to follow these steps.
First of all, download an Ethereum wallet that supports ERC-20 tokens like MetaMask and send some AUDIO tokens to the wallet.
Open the official page of Audius Dashboard and go to Servicesoption, as mentioned in the below screenshot.
- Now, click the Connect MetaMask option shown on the top right side.
- Click the Open MetaMask option in the popped-up menu.
- Your MetaMask extension will open. Now, enter the password and click the Unlock option.
- Click the Next option in the MetaMask extension window.
- Click the Connect option in the same window.
- The wallet will be connected. Now, select the node in which you are going to delegate the staking. I have chosen the Figment option.
- Click on the Delegate option present on the new-appeared page.
- Now, enter the number of AUDIO tokens that you want to delegate. The minimum amount should be 5000 AUDIO tokens. After entering the amount, click the Delegate option.
- Click the Confirm with MetaMask option.
- Now, confirm the transaction from the MetaMask extension window by clicking the Confirm option. I cannot perform this as I do have not enough funds.
So, we can delegate the AUDIO tokens by this method. A percentage of reward will be sent to us by the node operator according to the delegated amount.
Show the steps to create an account on Audius. (Screenshot Required)
Now, I am going to create an Audius account via the official website of Audius. To create an account on Audius, we have to follow these steps:
- First of all, go to the official website of Audius Platform and click the Start Listening option, located at the top right corner.
- Now, Click on the Sign Up option in the left-side menu.
- Enter your e-mail address and click the Continue option.
- Enter the password of the account that you want to set. Click the Continue button.
- Now, click the I'd rather fill out my profile manually option, as shown in the below screenshot.
- Enter the username, display name, upload the profile picture and click the Continue option.
- You will be asked to follow at least three artists. After selection, enter the Continue option.
- Your account will be created. You can see my account has been created in the below screenshot.
So, this is the simple method to create an account using the website of the blockchain platform, Audius.
All the above screenshots are taken from Audius.co
Explore and explain the features available on the Audius application or website. (Screenshot Required)
Now, we will discuss some features that are present in the Audius mobile application. So, have a look.
- Profile Page:
The first feature of the Audius app is the profile menu. Here we can see our profile details, edit our profile details, see the followers and followings, check the posts that we have shared (reposts), view our playlists, and upload a new track.
Another feature of the Audius application is the Favorites menu. Here we can view the tracks, albums, or playlists that we have made our favorites. We can quickly switch to this feature whenever we want to listen to our favorite music immediately.
There is also a feature where the users can explore the music according to their will or wish. They can get the music according to their mood, any playlist, or artist.
|In For You menu, the users can find the music which is related to their likings or taste. The people that they have followed will show there.||Users of the Audius platform can also explore the music according to their mood like chill, upbeat, intimate, etc. in the mood menu.|
|Users can explore the music or tracks of the particular playlists in the playlist menu.||They can also explore the music of their favorite artists in the artist menu of explore.|
Another impressive feature of the Audius platform is the trending page of the app. In this feature, the users can access and listen to the trending tracks, artists, playlists, or music of the time. They can also change the timeframe to week, month, or year. This feature helps the users to be aware of the current trend of music in the Audius platform.
- Your Feed:
Another feature of the Audius platform is the "Your Feed" menu of the application. This is considered to be the homepage of the Audius platform. Here the users can find and listen to different kinds of music, related to different artists and different albums. The users can rate the music, repost it, like the music from there.
- Search Box:
There is also a Search Box located on the top right corner of the application. We can search different tracks, artists, playlists from this feature. Now, I am searching for the account of a dear professor on this platform. So, have a look.
So, these are some important features of the Audius platform that make the platform, a unique source of effective place for the music industry.
Explain in detail how the mechanism of uploading music content on Audius.
As we have discussed before that there are two nodes in the Audius platform. Both of these nodes are involved in the uploading of music on the platform. Whenever a musician uploaded a music file on the platform, the music is received by the content node. The content node of the platform accept the music and create a reference code of the music file and transfer this code to two other content nodes.
After that, the track or the music file is uploaded to the platform and the content creator becomes the owner of the music. This means that the music file that is uploaded by the content creator is stored in the blockchain and becomes accessible for the listeners in the profile of that music creator.
After that, there comes the role of the discovery node. The discovery node creates the hash of the transaction and indexes the data that is verified by the content node. The role of the discovery node is to ensure the ownership of the content creator that has uploaded the track or music. After its job, the discovery node sends a notification to the content creator that his/her music has been successfully uploaded on the Audius platform.
A complete mechanism of the music uploading on the Audius platform is shown in the above screenshot. This image is taken from the WhitePaper of Audius platform.
Upload your original music to Audius and show the proof using a block explorer. (Screenshot Required)
As we have discussed all the details about the Audius platform in the above sections. So, now I am going to upload music on the Audius platform. The following steps should be followed:
- First of all, open the official website of Audius. Open your profile and go to the Upload Track option.
- Now, click the Drag-and-drop a track here, or browse to upload option on the new page.
- Select the music file from your computer and click the Continue option as shown in the below screenshot.
- Now, complete the track details like Track Name, Tag for your music, Catagory, and Mood. Also, add the thumbnail picture for your music file. Then click the Continue option.
- Your track will be start uploading. As you can see that loading has reached to 1%.
- The uploading process is still in process.
- The process of uploading has been completed as you can see in the below screenshot.
- The music has been successfully uploaded on the Audius platform and you can see it in your profile. As I have.
So, this is the method to upload music on the Audius platform.
As we know that Blockchain technology has entered every field of life so it has also touched the music industry. Audius platform is a decentralized music blockchain where the artists can upload their music without any mess. As well, the listeners can also find their favorite tracks and singers on this decentralized platform. No third party is involved in the uploading of music or listening to music.
It is based on the Proof of Stake consensus mechanism. There are two types of nodes. One of them is the content node that stores the music file on the blockchain and the second one is the discovery node that ensures the ownership of the music creator. Both of these nodes have to have to stake a number of AUDIO tokens to act as a node. So, this is a great evolutionary turn in the music industry.
So, that's all about the homework post for this week. Hopefully, all of you will like this post. I loved to attend the class of dear sir @wahyunahrul.