Audius is a decentralized music streaming platform where artists can host their music for free and earn revenue. The platform utilizes the AUDIO token to compensate artists and provide voting rights in the governance protocol. By leveraging Blockchain technology, Audius decentralizes and makes music files resistant to censorship through a global network of content nodes. This article explores the concept of Audius (AUDIO) and how to purchase Audius (AUDIO) with TRY.
Audius (AUDIO) Overview
Audius is a decentralized music streaming platform designed to empower both fans and creators. Unlike traditional music platforms, Audius allows artists to host their music for free, start earning revenue without record label deals or intermediaries, and provides a platform for both established and emerging artists to upload music, access stream metrics, and build a follower base with fewer financial barriers compared to other services.
The native crypto token of Audius, known as AUDIO, plays a vital role in the platform's operations. AUDIO, an ERC-20 token, also has a version packaged on other Blockchain networks like Solana. This token is used to compensate artists for their creative works published on the platform. Additionally, AUDIO token holders can run nodes, participate in the network's fee sharing, stake their tokens to increase content visibility, unlock unique badges, and earn voting rights in Audius' governance protocol.
Audius operates through a desktop and mobile application, allowing users to discover and listen to music. It offers familiar features such as creating playlists, browsing genres, and checking out trending songs and artists. Artists can customize their profiles with tracks, albums, playlists, and showcase collected or created NFTs.
What sets Audius apart from centralized streaming platforms like Spotify and Tidal is its use of a global network of content nodes instead of a central server. These content nodes use Blockchain technology to store copies of music files on multiple computers worldwide. Files are indexed on AudSP, a decentralized file system based on the InterPlanetary File System (IPFS). Artists have the option to run their own content nodes for more control over music distribution or allow Audius to distribute it across the network.
Audius' decentralized structure enhances its resistance to censorship and flexibility. Nodes not only host content but also make the content discoverable. Discovery nodes simplify the process of finding new tracks for listeners by indexing metadata for all Audius content. Node operators earn AUDIO tokens from the protocol's annual 7% token issuance and register their nodes with an active stake in the protocol's pooled fee pool.
Artists on Audius can earn AUDIO tokens in various ways. Tracks featured in the Top 5 Weekly Trending Songs or Top 5 Weekly Trending Playlists earn artists tokens. Musicians can also earn tokens by verifying their X or Instagram accounts and uploading their first content pieces to Audius, encouraging active engagement with the platform.
Listeners, artists, and node operators, along with AUDIO token holders, participate in the Audius governance protocol. This decentralized autonomous organization (DAO)-like system follows the core principles of Web3, allowing users to have a say in the platform's future development. Governance proposals can address new feature integrations, copyright structures, reward allocations, and more, enabling the community to collectively guide the platform's evolution.
Initially built on the Ethereum Blockchain, Audius has transitioned its content management system to Solana. This transition was necessary to efficiently manage the platform's rapidly growing user base. Audius aims to maintain its decentralized structure while leveraging Solana's scalability to provide a better experience for users.
By utilizing blockchain technology, Audius stands out as a pioneering platform in the music industry, offering a decentralized, artist-friendly alternative to traditional music streaming services. Its innovative approach empowers artists to retain control over their music, earn fair compensation, and engage directly with their listeners.
Purchasing Audius (AUDIO) with TRY
Binance TR is the most suitable cryptocurrency exchange for investors in Turkey looking to buy Audius (AUDIO). Easily create an account on Binance TR to buy and sell over 100 cryptocurrencies, including AUDIO with TRY.
Opening an Account on Binance TR
Creating an account on Binance TR is straightforward. Visit the trbinance.com website and proceed with the 'Create Account' step. Provide essential details like email address, phone number, name, date of birth, nationality, and Turkish ID number when prompted. After entering the required information accurately, email/sms verification will be carried out to confirm your details. Upon completion, proceed to the second step of identity verification (KYC).
Verifying Your Account on Binance TR
Identity verification on Binance TR is a security procedure that must be completed before starting crypto buying and selling. This process serves to protect both the user and the cryptocurrency exchange. You can choose to verify your identity either from your phone or through the official Binance TR website. Note that you will need your mobile phone to perform identity verification through the website.
Depositing TL on Binance TR
You can easily deposit TL into your Binance TR account through all banks. With Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, Türkiye Finans, you can deposit TL 24/7 and engage in uninterrupted transactions. For other banks, you can use FAST to deposit amounts up to 50,000 TL 24/7. Deposits above 50,000 TL from other banks are processed within EFT hours.
Buying AUDI Coin with TL on Binance TR
After depositing funds, navigate to the 'Buy-Sell' option in the top menu on the Binance TR website to proceed with purchasing AUDIO coin with TL.
About Binance TR
Binance, the world's largest cryptocurrency exchange by trading volume, launched Binance TR specifically for cryptocurrency investors in Turkey in 2020. The cryptocurrency exchange, headquartered in Istanbul, can be accessed through trbinance.com.
