Audius AUDIO Price $ 0.205

Audius is a blockchain-based platform that functions as a music-sharing streaming protocol. It is community-owned and controlled by artists themselves and hopes to give “the freedom to share, monetize, and listen to any audio” to everyone. It also hopes to increase the transparency surrounding the music creation and distribution markets.

Essentially the platform has three types of users that work together via the incentive-aligned mechanics of Audius. These are artists, fans, and service providers. Artists provide content for the platform, fans consume the content, and service providers help with app traffic, streaming songs, and securing the network.

AUDIO is the platform’s native cryptocurrency and has a total supply of 1104821182.

What are Audius’ key features and how does it work?

Five core components form the Audius network and on top of which its products can operate smoothly. These are the AUDIO token, content nodes, content ledger, discovery nodes, and governance.

Content nodes host content and permission access to the content. They are user-operated on behalf of artists. The content ledger stores all of the data within the Audius protocol. Discovery nodes, like content nodes, are user-operated. They index the Audius content ledger and enable metadata to be easily retrieved. 

Governance of the Audius platform is in the hands of token holders and network participants. For each token that a user stakes in the protocol entitled the owner to one vote. Proposals related to both technical aspects and nontechnical aspects can be made and implemented via the governance process. This includes new protocol features, token distribution, staking rewards, and much more.

What can AUDIO be used for?

The AUDIO token is used for three main functionalities on the platform. This includes security, feature access, and governance. In more detail, node operators stake AUDIO to run the Audius protocol and secure the network. The larger their stake the more chance a node will have of being used by fans and artists. Artists and curators can stake the coin to receive access to exclusive Audius features and services. Features could include artist tokens, badges, and earnings multipliers.

As mentioned before, token holders who stake their AUDIO can receive votes to take part in governance.

Where can you buy AUDIO?

AUDIOis available for trading on the following CEXs and DEXs listed here. The most popular platforms with the highest liquidity are Binance, Huobi, and KuCoin. The price of AUDIOwill vary depending on the choice of exchange and overall market conditions. For up-to-date and historic data for AUDIOmarket prices, please view the price charts on this page.