The idea of a decentralized music platform is certainly not a new one. It was all the rage once the capabilities of blockchain were fully realized by developers and the public itself. As the blockchain-based music industry expanded, the debate started on how to develop a perfect music sharing platform that will incentivize other people for maintenance of distributed servers and invest in the development in the first phase.
Disclosure: This is a Sponsored Article
There were some who favored a true blockchain-based solution. For example, every node gives a part of its storage to the network as part of the deal and thus they all benefit from it. It is good in theory, but not in practicality for just a music-based blockchain.
So Voise, a blockchain-based music platform decided to deploy a system of masternodes on the Ethereum blockchain as an alternative. They have also announced other incentives for early backers by burning over 50 million tokens to hopefully increase the worth of already existing token holders.
Voise is a music platform that works on a self-executing smart contract on the Ethereum blockchain. The music industry right now is a super consolidated business with new entrants facing a lot of issues in being recognized and published in the business.
The audience, on the other hand, is crazy for new music and new records and they are even willing to pay to download or listen to them. A study recently showed that over 110 million people are willing to pay good money to listen to music with many other silent approvers. Voise gives a level playing field for all artists and provides them with several useful features.
They include both fiat and cryptocurrency payments, a thematic search engine, a feature-rich profile section, and an eager, music-loving audience that wants to discover new favorites. So, it is a win-win situation for all players involved.
The masternodes are maintained by token holders and can be used by them to generate idle revenue from their contributions. All token holders have to be masternode operators to earn the money. What they need to do is have 600,000 VOISE tokens in their wallet and then set up a masternode. The dapp will lock these tokens, and after a minimum of one month, token holders will be given a percentage of the earnings, depending on the amount they have locked in. More than 80% of the profits will be shared with token holders according to the creators of the platform.
An alpha launch of the new platform took place in October 2017. Voise has also partnered with Grammy-nominated Carolyn Malachi and DJ sensation Jinco for the new platform.
As part of the token burn, the circulating supply of VOISE token has dropped 8% from 643,012,000 VOISE to 593,012,000 VOISE coins. The overall hard cap will also go down from 825,578,000 to 775,578,000.
Learn more about VOISE at: https://voise.it/