Swap Audius (AUDIO)

AUDIO is a token powering Audius network — a decentralized music streaming and sharing service. Audius was launched in 2019 and by late 2021 has attracted an impressive bunch of partners and sponsors. 

Since the advent of streaming services (or even the whole modern music industry), the artists’ compensation for their work has been a hot topic. The artist traditionally gets only a small part of their music’s revenue, which doesn’t seem fair, since they are the one with the talent. 

Enter the blockchain technology: as it’s maturing, it’s becoming increasingly obvious that this technology could serve the artists and listeners alike — for one, it could rectify the revenue distribution imbalance in the music industry. So, Audius was born. The network’s architecture, simplified, consists of:

• Content nodes — the nodes hosting and sharing content with the artists’ permission;
• Content ledger — to keep all the information about artists’ content, their rights and other data, put there straight by the source and tamper-proof;
• Discovery nodes — the nodes keeping the index of content and metadata, and responding to queries.

To run a node, one has to stake the network’s native AUDIO coin, getting a percentage of the network fees in return. AUDIO crypto can also be staked to unlock extra features within the network or as a governance token.