The music industry is stacked with problems and politics making for a very uneven landscape in terms of fair share revenue and transparency.
As a fully decentralized coin, AudioCoin (ADC) is available and open for all to build applications and payment solutions to rectify these inherent problems. After 4 years there are some very solid mainstream projects experimenting with adoption such as Aurovine, Miloco Studios, and Bjork's online store.
Staking Enables Flexibility
At the time of writing around 834 million ADC have been generated through staking. Anyone with a local wallet can ‘stake’ coins by running on a local machine. Staking rates are high at an annualized rate of 18%.
Depending on community consensus and for the long term health of the coin, there are plans to reduce the stake rate to between 6 and 9% in 2018 or 2019.
Companies like Blockpool and Aurovine are building creative solutions and applications utlizing ADC. These blockchain apps will slowly replace traditional music industry infrastructure and lead to greater transparency while empowering music fans, artists, and independent labels. The nature of a decentralized ledger brings transparency to legacy systems.
Through a partnership with Blockpool and their BLOCKTOOLS suite, ADC is delivering both back-end functionality along with creative marketing applications using AudioCoin.
AudioCoin (ADC) was conceived in 2013 as a hybrid Proof-of-Work / Proof-of-Stake coin. POW mining stopped at around block 525,000 and the coin has been POS ever since.
The coin is fully decentralized apart from a small development fund used to help the ongoing infrastructure/upgrades and marketing.