Now to the assignment proper.
What do you think about the presence of the Audius platform in the music industry?
Audius Platform in the Music Industry
Let's have a little insight about the Audius platform, the Audius platform was created by Roneil Ramburg and Forrest Browning in the year 2018 bringing to bear thier experience in the blockchain technology to create something which will leverage on the centralize or traditional music industry operations. Now let me proceed with my thought about the Audius platform in the music industry.
Now among the many reasons the Audius platform was created it was introduced to leverage or remove the problem of proof of ownership experienced by music creators or owners, since in the centralized system of controlling music ownership, anybody can manipulate the system and make do with another persons product without his/her knowledge and even gain financially from it.
But then with the introduction of the Audius platform which works on a blockchain technology, it almost impossible to get an hand on another persons work without a proper consultation. This is due to the verification process locked into a decentralized platform.
I also the consider the Copyright aspect of a music production. Now in the conventional system of offering a copyright stamp on a music production, this process can be very tedious considering the fact that it has to go through a record lebel before the vetting and some times the government of the day might also want to have an hand on the work. With all this process, there is time consumption, capital intensive and most of all, no full ownership of a production(in that you have to make out an amount of percentage to this different institutions.
But then the Audius platform has leverage on this in that a music owner can on his/her own Copyright his/her piece of production with full ownership assured.
Another take of mine is the aspect of music financing in the Audius platform and this is very interesting, because here the author of a production has full ownership of the financial outcome of the music he/she uploads. And currently looking at the rate of the token gained from Audius platform, which is AUDIO it is even more profitable now. So music artist on this platform are of great advantage financially.
Therefore with all this advantageous positions and expositions of the Audius platform it is really worth existing on this platform as a musician.
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.
My take on the Governance System of Audius
Now the Audius platform operates on a blockchain that has it base from the Ethereum blockchain. As it operates on a blockchain this makes it a decentralized platform making every members self reliance. But then when we talk about the governance of a blockchain there has to be some level of commitment to the platform for you to be qualified to take part in the governance and witness stake of such platform.
The Audius platform is not an exception when it comes to this level of commitment to be approved to govern. So the platform works with the Proof-of-Stake, were stakers on the platform are the one's with the ability to make decisions on the platform.
Like I said every staker of the Audius native token called the AUDIO has power on the platform. So if there is going to be any adjustments or verification process to be carry out, the stakers serve as the nodes that carry our this process. They has to be 5% of the total staked token in the platform giving a vote to the proposal at hand and the 50% of the vote has to be in agreement to the proposal for it to go through.
I would like to say that am in agreement with this governing process of the Audio platform because it seeks to show that the active and serious participants have the power to verify proposal and effect changes on the platform.
Explain how to do 2 types of staking on Audius complete with illustrations. (Image Required)
How to Stake on the Audius Platform
Now there are two types of Audius staking on the Audius platform namely;
The Node Operator staking
As a Client/Artist staking
We will take it one after the other but before then let connect the Audius platform with the metamask wallet. So first of all I will be connecting the Audius platform to metamask wallet because this is what will enable the staking.
Connecting Audius to Metamask wallet
- First of all log into the Audius platform dashboard source as seen below.
- Then at the top of the platform you will see the metamask wallet logo, then you click on it as seen above then the page below will come up.
- Then click on the open metamask as seen above and the page below will come up.
- As seen above click on the next to bring up the connect button as seen below.
- Now click on the connect button as seen in the screenshot above and the platform will automatically connect to your Metamask wallet. Now let's get to the staking proper.
The Node Operator staking
- Now as seen above the wallet has been connected. Now let's proceed to the connection proceed. By clicking on the service button as seen below.
- After clicking on the service then click on the register new service as seen below.
- After clicking that the page below comes up.
- The page above shows up were you have to choose between the discovery node or content node and the fix in the staking amount which is 200 AUDIO as a minimum amount. So what ever amount we are to choose it Should be either 200 or above. Here inputted 200 AUDIO and then the wallet address and proceeded to click on Register.
- After clicking on the register am asked to confirm with the metamask wallet with that the AUDIO token will be activated for the staking.
As a Client/Artist staking
Now let's proceed to the client staking, now still clicking on the service button I choose one of the top stakers as seen below.
- Then the page below comes up and I proceed to choose delegate button.
- After choosing delegate button the page below comes up which requires me to input the delegated amount, here the minimum is 5000 AUDIO so I proceeded to using that and clicked on delegate as seen below.
- After clicking on the delegate button it gave up the page below asking to confirm with the metamask wallet for the transaction to be completed.
- Clicking on the confirm button make the delegation step complete.
Show the steps to create an account on Audius. (Screenshot Required)
Creating an Account on Audius
- First of all visit the Audius site https://audius.co/ and the page below will open up.
- Then click on sign up for free as seen above and the page below will open up.
- Filling in your Email address and continue.
- Then create your password with the guide lines given on the page as seen above after that click on continue and the page below will come up.
- And then over here you can choose to connect the Audius platform to your social media platform directly so the profile over there can be transferred to your Audius account. Or we just go ahead and set our profile afresh as I have chosen above.
- So I went ahead to set my display name and user name like wise and continued.
- After that I have to choose or follow three artist before I can proceed which I did and proceeded.
- Then I continue after the page above came up.
- Boom I have successfully created my Audius Account and proceed to looking into my blog.
- So having being through with this I can still go ahead and set my profile to a completion.
Explore and explain the features available on the Audius application or website. (Screenshot Required)
Exploring and Explaining the features of the Audius Platform.
Now the features on the Audius Platform are segmented into the Discover, Library and the Playlist.
Discover
Now under the discover we have first the Feed and under the feed it contains the music of the followed artist you have subscribed to as seen below.
Now the next under the discover is the Trending and the trending feature displays music in order of trend or relevance on the platform as seen below.
Now after that the next feature under the Discover category is the Explore and the explore feature shows trends categorically and also displays most searched tracks on the platform as seen below.
Library
Now after the discovery segment is the Library segment which has its own features.
- First is the Favorite feature. This feature shows the track the owner of the platform has marked as his/her favorite as seen below.
- After that is the History and this is like the last played button on our conventional music player showing recently played songs.
Playlist
Here it offers Hot and New tracks on the Audius Platform. This shows the newest adds tracks to the platform for users consumption.
Profile
The next feature is the profile which displays your playlist, uplaoded songs etc as seen below.
Explain in detail how the mechanism of uploading music content on Audius.
Mechanism of Uploading Music in Audius
Now the mechanism of uploading music on the Audius Platform is same as the verification process on blockchains though a bit of here and there differences.
Now on the Audius platform there is two nodes that helps with this uploading processes which are the Content node and the Discovery node.
The content node starts the uploading process where the song uploaded is engulfed by the content node which does the work of verification of the uploaded song. So the song comes up on the platform, the content node takes it up sends it across to other nodes for the voting on the song for it to be vetted as the owners own and store on the blockchain, which is the passed the discovery node.
Now the discovery node will then pick up the process from the content node and does the work of Hashing of the uploaded song which after that is done it is then listed on the blockchain and stamped as the owners own so that no other person can lay claim on the uploaded art.
Now after the discovery node has successfully been listed on the platform it will show successful. And with this the owner of this song uploaded can be rest assured of total ownership of his /her content.
Upload your original music to Audius and show the proof using a block explorer. (Screenshot Required)
Uploading My Music in Audius.
- Here you enter your profile as you had created already, i.e you just sign in and then get to your profile and click on upload track as seen below.
- The page below comes up and you click on the drag image to upload or you browse it from your storage memory.
- After that proceed to uploading the music, but in this case I used a voice recorded music.
- Okay thanks uploaded but bit successful yet so I have to carry out some settings so I click on continue and the page below comes up.
- From here is provide all.yhe information needed for my uploaded music piece and then proceeded.
- Boom my uploading process is complete and am congratulated as a sign of completion.
To look out for my song check it out below.
Conclusion
In conclusion the Audius platform is one very interesting Platform and am glad I took part in this lectures. I would recommend this platform to other music artist for maximum profitability in the music industry.
Thank you.
All screenshots are from the Audius platform