Audius

What is Audius (AUDIO)?

Audius is a decentralized music streaming protocol that was initially built on the POA network and has since moved to Solana. The platform was launched to address the inefficiencies within the music industry, such as opaque music rights ownership and intermediaries hindering direct connections between artists and fans. By using its native

AUDIO token, artists can upload their music that fans can listen to for free.

Audius token can be traded at their current market price on Binance, CoinW, Bitrue, Bybit, and Bitget.

Who founded Audius?

Audius crypto project was founded in 2018 by entrepreneurs Roneil Rumburg and Forrest Browning, both Stanford University alumni. The platform is unique in that it allows artists to publish content for free, offers music streaming at 320kbps, and plans to incorporate artist tokens for monetization. Fans can listen to tracks for free and may be able to stake AUDIO tokens to support their favourite artists in the future.

The Audius network is secured through its migration to the Solana blockchain, which offers low-cost, high-speed transactions, and decentralized operations. With over 200 nodes on its mainnet and staking and governance functions remaining on Ethereum, Solana's layer one blockchain provides a robust infrastructure for the Audius platform.

Audius Pros and Cons

Pros:

• Aims to align the interests of artists and fans in improving their platform.
• Free music streaming for fans and free content publishing for artists.
• Plans to incorporate artist tokens for monetization and audience engagement.
• Powered by Solana blockchain, providing high-speed, low-cost transactions.

Cons:

• Lack of copyright protection for artists due to the platform's decentralized nature.
• Monetization options for artists are still under development.
• Dependency on Solana's performance and potential scalability issues.
• The code is not open-source.

Audius Review

Audius offers a promising solution to the inefficiencies within the music industry by providing a decentralized platform for artists to connect directly with fans. The platform is powered by the Solana blockchain, ensuring high-speed and low-cost transactions. However, it is essential to consider the potential drawbacks, such as the lack of copyright protection for artists and the ongoing development of monetization options.

Our review using our security analysis also revealed that their code is not open source which is a critical security risk. We, independent verifiers, are not able to audit their code, thus possibly increasing the chance of it containing malicious code.

Is Audius a Scam?

Audius does not seem like it is a scam; it is a project that is genuinely trying to help focus on the current problems of the music industry by aligning the interests of artists, fans, and node operators. The platform is backed by well-known investors and supported by a robust infrastructure built on the Solana blockchain.

Scams are all around the crypto sphere. It is important to conduct thorough research before committing funds to the AUDIO token or participating in any blockchain ecosystem. Staying smart with your investments is the key to not getting burned.

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