BitSong (BTSG) offers a decentralized music ecosystem, empowering artists with transparent earnings, while providing fans unique ways to engage and earn through music streaming. More
| Fully Diluted Valuation | $357,107 |
|---|---|
| 24H Trading Volume | $558 |
| 24H Low / High | $0.00 / $ 0.00 |
| Circulating Supply | 120.49 M |
| Total Supply | 121.86 M |
| Max Supply | ∞ |
| Categories | Music 5 more |
|---|---|
| Founder | Angelo Recca 1 more |
| Website | bitsong.io Whitepaper |
| Socials | 4 more |
| Chains | Osmosis Ecosystem |
| Explorer | Mintscan |
| Contracts |
ibc/4....25452
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| Name | Pair | OG Score |
|---|
Epowering the Music Industry: BitSong's Journey to Decentralization
In the fast-paced digital age, the music industry has undergone a transformative journey, offering both opportunities and challenges. BitSong, a distributed blockchain music ecosystem, emerged in December 2017 with a mission to decentralize the music sector and provide artists with a transparent, fast, and intermediary-free earning model. Let's delve into the fascinating world of BitSong and explore how it aims to reshape the future of music.
BitSong's Vision and Mission
BitSong envisions a decentralized hub that interconnects various market players, creating a trustless ecosystem for artists, music providers, and fans alike. It is not merely a streaming platform but a comprehensive ecosystem of services that seeks to simplify bureaucracy and establish itself as the go-to reference point in the digital music market.
The Birth of BitSong
Conceived in 2018 by developer and entrepreneur Angelo Recca, BitSong was born out of a realization that the digitalization of music, while beneficial, presented challenges related to ownership and attribution of royalties. Angelo, alongside co-founder Iulian Anghelin, initially envisioned BitSong as an Ethereum-based application for streaming music with direct royalty payments. However, the discovery of Cosmos and its multi-chain environment ambitions led them to recognize the immense potential of being part of such a revolutionary ecosystem.
BitSong's Technological Backbone
Built on the Tendermint consensus engine, BitSong relies on a network of Validators responsible for adding new blocks of transactions to the blockchain. These Validators are rewarded in BTSG tokens, the native cryptocurrency of BitSong. The ecosystem, launched in August 2020, evolved further with the bitsong-2b mainnet going live on October 21, 2021. This update introduced Fan Tokens, NFTs, and a music streaming platform, marking a significant milestone in the development of the music industry.
BTSG: The Ultimate Currency for Music
At the heart of BitSong is the BTSG token, serving as the ultimate currency for music within the ecosystem. Artists, industry participants, and fans can leverage BTSG to buy, sell, and trade Fan Tokens and NFTs. Furthermore, BTSG can be swapped for other cryptocurrencies on both centralized and decentralized exchanges. Beyond transactions, users can stake BTSG to a Validator, contributing to network security and earning additional BTSG as rewards.
BitSong's Decentralized Ecosystem
BitSong's multifunctional blockchain-based ecosystem unites artists, fans, and distributors, emphasizing the value of music, merchandise, and fan loyalty. The trustless marketplace for music streaming, Fan Tokens, and NFTs powered by the BTSG token establishes a new paradigm for the global music community.
In conclusion, BitSong represents a groundbreaking initiative in the music industry, addressing challenges and fostering a decentralized, transparent, and meritocratic environment. As the journey continues, BitSong stands as a testament to the power of blockchain technology in reshaping the future of music, providing a platform where artists can thrive, fans can engage, and the industry can evolve.
BitSong stands out by offering a decentralized ecosystem for the music industry, creating a trustless hub that connects artists, fans, and distributors. It aims to simplify bureaucracy, providing a transparent and intermediary-free earning model for artists while offering users a new way to listen to music and earn money.
BitSong was conceived in 2018 by developer and entrepreneur Angelo Recca, who recognized the challenges in the music industry's digital era. Co-founder Iulian Anghelin joined forces with Angelo to establish BitSong, contributing to its vision of becoming a pivotal point in the digital music market.
You can buy BitSong (BTSG) on Osmosis cryptocurrency exchanges.
