[Intermediate Course] Steemit Crypto Academy Season 5 Week 3 | Audius - Decentralized Music Platform post for professor @wahyunahrul

This is @aizazghumman; here I am going to share my homework post given by respected professor @wahyunahrul. Let's start it.

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1). what do you think about the presence of the Audius platform in the music industry?

Before we start on the role of Audius in the music industry let us have a slight introduction of these two terms i.e. music industry and Audius.

Audius Platform:

Audius is a musical platform like we have SoundCloud or Spotify in our phones but it used blockchain technology giving it being decentralized feature i.e. eliminating the role of the middle man and allowing individuals of different departments of the music industry to publish their music in exchange for rewards from this platform and offers one on one interaction between artist and users eliminating the role of management teams.

Music Industry:

The music industry comprises music creator, suppliers, organizer, writers, and singers and there is more department that shaped the whole industry.

ROLE OF AUDIUS IN THE MUSIC INDUSTRY:

As we know the music industry generates are a great sum of revenue annually whereas the artists only get a tiny portion of it the audius simply gives control to its earnings to the artist alone rather than any third party who in the traditional music industry gets the most of the revenue. Audius is pretty much similar to the SoundCloud we have in our android but differ in technology as it is decentralized and gives control to artists and lets them upload their music upload to the platform and the data is stored on the blockchain on a public ledger. Some of the huge names of artists are backing this platform which gave this platform much recognition.

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In the closing statement, I’d say Audius has brought a revolution in the music industry as it pretty much helps with allowing 100% ownership to users along with yielding 100% earning of the music they composed or post as decentralization eliminates the role of the third party. Unlike the traditional music industry, the Audius will cost less spending to launch the song in less time required in the traditional or centralized music industry. Here the artist alone can generate profits through participating in competitions sponsored by the platform and earn rewards in the shape of Audio tokens that are the native coin also every time the listener plays the artist gets the money through the coins of the listener making it one on one relationship between the artist and listener. I see Audius or more platforms like it being the future of the music industry.

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2) with the governance system used by Audius, do you think that system has made Audius a fair and fully decentralized platform? If not, please provide your suggestions for the system that Audius uses to make it more fair and decentralized.

To answer this I tried to search through the internet and read the whitepaper of this platform so far what I concluded is that Audius is a fair and fully decentralized platform as it possesses the fundamental qualities of a decentralized platform such as it allows users to take decide and participate in governance voting by being the native coin holder. Every features the Audius serves with speaks volumes on it being decentralized such as one on one interaction between the members of the platform eliminating middleman role, apart from that the transparency of the platforms well defines the system being decentralized.
The Audius being an ethereum built project gets the support of being a decentralized platform protected by the native coins of this platform that goes with the name of Audio token. So, in conclusion, the elimination of middle man, transparency, and ability of users to take part in governance pretty much sums up this platform as a fair and fully decentralized platform.

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3). Explain how to do 2 types of staking on Audius complete with illustrations. (Image Required)

STAKING IN AUDIUS:

Users by holding the native tokens of this platform can take part in staking their assets in the platform via two methods i.e. either by becoming a node operator or through delegated staking let’s have a look at what they are in detail:

NODE OPERATOR STAKING:

We know blockchain-based platforms have a bunch of node operators for carrying all the data and information well maintained who are required to stake a huge number of “Audio” the native tokens of the platform. This type of staking is the very first type of staking performed on the platform and is expensive. It contributes to the security of the platform i.e. the more assets they stake the more there’s security on the platform. This not only requires a massive number of tokens but also a device with high computational power.

This type of staking can be done through the following steps.

Firstly we’d connect our metamask wallet to the platform so we’ll go to the homepage of this platform and then select the dashboard button.

Here we will select the services option and then click on the collect wallet button.

In the next step we’ll be having a pop-up screen asking for connecting the metamask with Audius here we’ll tap on the open metamask option.

Now we’d confirm the connection between the two.

Here as you can see the wallet is connected to the wallet mark now we’ll go to the services option where we’ll be selecting the register new services option.

Now in the next pop-up screen, you’d be shown details of options of types of node you can choose and the number of audio tokens required for that staking here you’ll click on register service.

Now finally you will be asked here to confirm your staking by clicking on confirm with metamask.

Here’s the last step:

DELEGATED STAKING:

This is another and the last type of delegation seen in the Audius platform that solves the staking issues for those who can’t afford to do staking as node operator here in this platform they with a lesser amount of audio tokens can delegate to node operator. In this type of staking the users delegate their audio token to the node operator then the reward received by the node operator is distributed among the delegator and the operator.

Now here’s how we can participate in delegated staking:

For this first we’ll go to the service option from the audius dashboard.Now on the services page, we can see the first service provided which in this case will be “figment”

Now after clicking on the figment we’d meet the screen shown below here we’ll click on the delegate button.

Now we’ll get a popup that asks us to delegate to the operator here we’d select the number of tokens we are delegating for this I will go with the default setting and click on delegate bottom.

Now we’ll be asked to confirm the transaction on the next screen here we will click on the confirm with metamask button.

Now finally there will be a metamask popup asking for confirmation of delegating tokens here the users are supposed to click on confirm button highlighted but since I don’t have balance so I can’t carry on.

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4). Show the steps to create an account on Audius. (Screenshot Required)

We can create an account on Audius in the following steps:

1. First we will go to the homepage of the audius platform here we will click on the “Sign up free” option.

1. Now after clicking on the sign-up button we will be navigated to the page given down below here we can either carry on with our account creation through metamask but I’ll be going with email way so here we’re supposed to enter our email and click on continue button.
   
2. Now next you’ll have to enter a healthy and secure password and then reenter it to avoid mistakes then we can click on the continue button.
   
3. Now on the next page we will be asked to complete our profile by connecting it to other social places or by setting handle, username, etc. here I’d click on the option given at the bottom i.e. filling my profile manually.
   
4. Now next we will be asked to set username and handle and profile here I’ll add the name and handle only then click on the continue button.
   
5. Next we will be asked to follow any three artists to get started so I selected the top 3 and clicked on the continue button.
   
6. Now lastly we can see my account is created and the platform tell you about your time to start your journey on the platform
   
7. Lastly here’s the screenshot of my profile.

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5). Explore and explain the features available on the Audius application or website. (Screenshot Required)

There are many options features we encounter on the Audius website here I will try to elaborate the features available on this platform as much I can.
So the first page we come across after logging into the account can be seen in the screenshot below here we can see several options to navigate to so starting from the right side we can see the reposts option.

Clicking upon reposts will allow us to see the posts that are reposted on the platform.

Next, the original post button will show us all the tracks posted by the artist himself and is not reposted by anyone.

Now the All post shows all the reposted and original posts altogether.

Now the search bar given at the top can be used to search artists or tract by their name.

Moving to the left top the bell icon represents the notification storage box and the three-dot icon represents some other option such as setting, artist dashboard, etc.

On the left side of the page, we can see my account handle that represents my profile from where I can click on the account handle to move to my profile.

Now below the account name, we can see the discover button that allows us some more features we can move to such as feed, trending, and lastly, the explore button.

The trending page navigates us to trending music or tracks of the platform.

The explore button helps users to explore different places on the platform such as trending playlists. New release, underground trending, etc.

Now there's a library category given below that allows us to see the history of tracks we played and favorite tracks we marked

Now we’ll move the feature that the platform allows for the personal profile of the user as you can see in the screenshot below where we can see the number of tracks posted, followers count and the people we are following. The edit page option given in the corner allows us to edit the profile details we do on our other social apps.
The share button is used to copy the account link we can use to share our account on different platforms.
The tracks, albums, playlists, and reposts can be used to visit the mentioned options carried out by personal profile.

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6). Explain in detail how the mechanism of uploading music content on Audius.

The mechanism of uploading music in audius is pretty simple but length though so let me begin how the mechanism works. The process is started by an artist or content creator who uploads his track received by the content node that verifies the track and proceeds the process by giving a reference code that helps to recognize the tract posted by the artist now the content nodes also helps in moving the data to two more nodes. Now the Audius platforms finally record the track uploaded by the artist on blockchain showing the tract now as registered track of a specific user on the platform. Lastly, the discovery node does its job by indexing the data recorded on the blockchain and binding it to the artist profile giving him a sense of ownership and confirming of his track is now successfully being uploaded on the website.

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7). Upload your original music to Audius and show the proof using a block explorer. (Screenshot Required)

For this I first went to the upload track button from my profile that can be seen in the screenshot below.

Now next I was navigated here to the page given down below here I will select the browse to upload option.

Now I’ll be selecting the available music on my laptop and selecting it.

Now I’ll be asked If I’d like to continue to upload the track that I selected earlier here we will select the continue button.

Now here some details of the tract I uploaded are required to so we will enter the required data here.

Now in the next step we can see my song being uploaded on the platform.

Once the track is posted here I’ll select the view track page,

Now finally we can see my tracks successfully being posted on the platform.

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8). Conclusion

Based on what I see Audius has not only a unique piece in decentralized platforms but also a revolutionary technology in the music industry as we can see its being backed by huge musicians we have. I can see more apps coming in the future because I see these decentralized musical platforms gaining a lot of attention in the coming time. Though the platform is a lot similar to our traditional android centralized musical applications the audius being decentralized is what adds flavor in it. Thanks to the professor the lecture indeed helped a lot with this homework post hope I met your requirement for the assignment post.

Thank you.