Foreword
Cryptocurrency really revolutionized financial technology, and with increasing number of developments in various applicable platforms, increasing number of adoption since its inception, its advantages over paper money and metallic coins because these money can be potential vectors of transmissible decease (1), with the stigma that the deadly coronavirus (covid 19) currently the world is facing – cryptocurrency would not be far from mass adoption.
And in music industry, bitsong.io platform is slowly emerging to be the spotify of cryptocurrency world.
What is Bitsong.io and Bitsong Coin (BTSG)?
BitSong.io is a new music platform, which will be built using the Cosmos-SDK and the IPFS distribuited filesystem (2). In short, it is a decentralized music streaming platform (3).
The bitsong coin (BTSG) is the native coin for platform, it is used to pay the music owner in which the fans streams the artists’ music, and in the future will be used for staking (4).
On the fourteenth of May 2018 the BTSG pre-Initial Coin Offering (pre-ICO) starts and the Initial Coin Offering (ICO) culminated on the fifteenth of December 2018 with the price of 0.0620 USD and around 380,000 USD being sold, its initial coin offering is rated 4.0 at icobench.com (5).
How Does It Works?
Bitsong is currently in its demo (6) phase; to start using it the musician must first creates an account (7), then uploads his/her songs on the bitsongs IPFS and when fans listens to them, subsequently, the song earn BTSG. For listeners, they must also creates account to start using the platform.
Where Can I Buy BTSG?
Since the initial coin offering was already been closed for more than a year already, anyone wanted to buy BTSG can only trade at bamboorelay with pairing of WETH (8) only.
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References
1 https://www.ncbi.nlm.nih.gov/pubmed/24571076
3 https://bitcointalk.org/index.php?topic=2850943.0
4 https://www.binance.vision/blockchain/what-is-staking
5 https://icobench.com/ico/bitsong
7 https://btsg.community/t/bitsong-demo-upload-guide-for-artists-only/198
8 https://bamboorelay.com/trade/BTSG-WETH
Images
1 https://btsg.community/uploads/default/original/1X/afa5a1a1a5c1a852c405bac58de4a668ea57da67.png
2 https://btsg.community/uploads/default/original/1X/9fe6f1eaebcaee0ab999a7675ff142dcb375ba25.jpeg
3 https://btsg.community/uploads/default/original/1X/37aec79abe5f8d30b0e4191aa763e6a31ca49ee9.png