Musicoin is a new generation of cryptocurrency technology, it's also the first blockchain designed specifically for music (white paper). The blockchain is designed upon existing technologies from Bitcoin, Ethereum and other security measures customized for music licensing, development and consumptions.
Musicoin’s blockchain is POW chain but CPU-friendly. It generates 314 coins per block every 15 seconds to meet the micropayment needs for music consumption. Because there's no pre-allocated(or pre-mined) funds to the founding members. Instead, 100% of the coins will be mined by the community, starting from genesis.
With smart contract technology, Musicoin can run a special machine code called a Pay-Per-Play license (PPP). Every time a track released by a musician is played, whenever and wherever, the license code will be triggered and confirmed by tons of other users. This code snippet will soon become the most executed transaction because the enjoyment of music will back the whole Musicoin economy, aka Musiconomy. Since music consumption,eventually, will be bonded to coin(s) in transaction, the whole economy will prone to stable.In this way,Musicoin will become a global currency really flow sentimental interactions universally.
Musicoin's value is backed by music consumption, thus musicians are definitely the top driven force of using the technology. “Musicoin will bring a level of transparency and fairness to the music industry”,said - Alan Cross A Journal Of Musical Things , “ that has never been seen before! It has the potential to completely change the way we consume music.” Many musicians welcome this new technologies with preparing their content to release to Musicoin system.
Musicoin is fully open-sourced project with clear road map, not only to musicians, we welcome all developers join to contribute and make it universal. While musicians releasing their musical works, developers can create fantastic applications and gadgets to make music flow through every devices and eventually make the whole system a sustainable realm. Other artists can also find great satisfaction around the core model of this system, many value-added ideas can be realized upon the system. The only limitation will be imagination.
Find us in above channels, and feel free to ask any questions. Welcome to Musicoin realm and let's rock the music industry with cryptocurrency, together.