Audius (AUDIO) is the native platform token of the Audius streaming protocol. AUDIO is staked for security, feature access, and governance and earned by artists, fans, and node operators who drive Audius.
Audius is a blockchain-powered music streaming service that is taking the music industry by storm. Powered by the native Audius token (AUDIO), Audius is changing how artists and fans interact by creating one of the most cutting-edge music platforms available. The Audius music platform is similar to popular audio streaming services such as Spotify and Soundcloud.
Audius empowers musicians by giving them full control of their music and the ability to create exclusive and unique fan experiences. Using a decentralized, incentive-aligned network of node operators, the platform enables artists to generate time-stamped, immutable records of their music.
The platform utilizes the Audius token, artist tokens, and third-party stablecoins, along with a decentralized storage solution. Also, the Audius ledger allows artists to share audio and query metadata efficiently.
Audius uses a “unique track encryption scheme paired with a programmable mechanism to unlock user-specific proxy re-encryption keys for content”. Furthermore, Audius utilizes a decentralized governance protocol. This gives artists, fans, and node operators the ability to make decisions about changes and upgrades to the protocol.
Powered by the native AUDIO token, artists are paid directly each time somebody streams their music. No longer do artists have to wait for months, if not years, to receive a lean cut of their earnings. Audius provides a range of fan engagement opportunities that connect artists with their audiences.