audius

Other user-controlled storage projects include Skynet’s SkyDB, SpruceID’s Kepler, Verida, and Privy.
DID Documents should be accessible so that third-parties can get the info needed (public key & verification method) to verify a given DID.

Nodes with the most at stake will undoubtedly be chosen as the validator nodes, and work to keep up the blockchain.
We talked about how Bitcoin is open-source software, a network of nodes, and a blockchain ledger that tracks the bitcoin cryptocurrency.
Also, the 21M hard cap grants bitcoin the never-before-seen property of digital scarcity.

53 – Web3 Game Infrastructure

Juxtapose this to this content stored in the centralized servers of Web2 social media marketing companies today.
If a user wanted to, he could port his social data to any other social media platform, which prevents him from needing to build all his content up from scratch.
In other words, the native token coordinates, and incentivizes, globally distributed, independently-acting nodes to maintain the blockchain, while at exactly the same time protecting it from attack.

All Web3 tokens have a pre-defined monetary policy controlled by the blockchain.
And if it’s inflationary, what’s the token’s issuance schedule?
This monetary policy is fixed, and cannot be changed after the token has been launched.
It’s difficult to place stablecoins in either of these token categories, however they deserve an honorable mention because they grow a lot more popular.
These tokens are made to maintain a well balanced value as time passes.
This makes stablecoins more attractive as a medium of exchange compared to other Web3 tokens that experience high price volatility.
Usually, stablecoins are pegged in value to a fiat currency just like the US Dollar.

21 – Ceramic And User-controlled Data

How will you be much better than apple or Spotify if your not paying any artist or have any information on how they get paid for streams on your own platform.
As an independent artist, I really do still feel Audius has the potential to become a great platform.
But honestly so far, only the most popular / most ‘upvoted’ artists on Audius have already been able to benefit from the rewards.
Until monetization becomes a genuine thing, I really do not feel there is a lot of benefit for me as a smaller artist to upload my whole discography to your platform.
The final risk concerns longevity and continued use of the protocol.
The amount of active users peaked in October of 2021 at around 5M users and as of August 2022 is around half that amount.

• Without blockchains, we wouldn’t have crypto tokens & most of the decentralized applications that are running today.
• Users who stake coins on the network are eligible to get staking rewards having an annual reward rate of 22%.
• Because of this users can essentially pay attention to music for free for an indefinite period.
• Objkt has become both the de-facto marketplace to trade NFTs on the Tezos blockchain and an excellent spot to mint music NFTs.

The Audius team believes that its user base should be compensated in line with the value they enhance the network.
Additionally, artists should engage and transact directly making use of their followers instead of using third-party platforms which make it difficult for both sides.
Because artists are compensated voluntarily by their fans, you can find no advertisements no interruptions to your listening experience.
Because of this users can essentially listen to music free of charge for an indefinite period.
Audius has a large amount of potential due to the convenience it brings and the opportunities it offers artists to earn a decent amount of money by sharing their work over their platform.

If the price of ETH drops by 20% the collateral is now worth $2400, changing the collateralization ratio to 120%.
The vault would still be over-collateralized, but could soon be under-collateralized if the price tag on ETH continues to drop.
Last thing to say, you can find regulatory bodies, apart from the SEC, which have a stake in Web3 technologies.
As Ryan Selkis highlights in his annual crypto report, currently these entities range from neutral to openly opposed to Web3.
Regulatory outcomes will definitely affect the growth and evolution of Web3 around the globe.

Some are fixed-supply , and others are inflationary, although there’s more nuance here.
For instance, Ethereum is implementing an insurance plan where a portion of ether network fees are burned.
Some believe this will actually make ether a deflationary asset.
Users can delegate their crypto to earn staking rewards, and frequently token-voting can be used to take part in a Layer 1’s governance process.
Having said all that, other competitive layer 1 smart contract blockchains are sprouting up, and accumulating significant developer and end-user communities.