Choon NOTES is a native token created on Ethereum Blockchain network whose transaction takes place from one peer to another without involvement by the government thus is being considered to be a decentralized asset. Choon NOTE was mainly created to reward musicians when their songs are being played on the choon platform. Unlike other music streaming platforms like soundcloud where musicians upload their music work but at the end of the day they end up not earning anything, for choon, that is not the case. Instead, when musicians upload their music work to the choon platform, they will be considered to own the data of that music such that whenever the song is being listened on the choon platform, they will be earning choon NOTE token. Beside artist, listeners will also be considered to earn 5% of the income generated from every playlist played.
Choon NOTES transaction
Choon NOTE transaction takes place on the Ethereum blockchain explorer based on block height and timestamp. To view how the transaction takes place at Ethereum explorer, simply follow the link below; We will add the link later, worry not.
Choon NOTE was created in 2018 with the main objective of allowing different musicians to control their music work without the involvement of middlemen.
Founder Of Choon NOTES
Choon NOTE was created by Gareth Emery with the main objective of allowing musicians to earn fairly income from the music content created by themselves. Gareth Emery wanted to solve the problem where middlemen control almost all the work created by musicians.
Process of creating Choon NOTES
Unlike Cryptocurrencies like bitcoin and ethereum which are created as a proof-of-work through the mining process, For Choon NOTE, that is not the case. Instead, 2000,000,000 were released through crowd sales during the launch stage to early adopters. The remaining 1000,000,000 will be released through the streaming mining process by listeners for a period of 10 years until all 2000,000,000 Choon NOTES are being reached. For the first 5 years,375,000 Choon NOTES will be stream mined per day. In the remaining 5 years, the amount will keep on reducing until all 1000,000,000 coins are released.Out of the 375,000 coins stream mined daily, 80% will go to musicians based on their earnings while 20% will be retained by Choon platform . Out of this amount mined, 5% will also go to the listeners. Here is how the streaming mining process looks like;
If you are a musician or a music fan and you want to start using choon to maximize on your revenue then you can follow the link below to create your choon account;
Maximum circulation of Choon NOTES
The maximum supply of Choon NOTE coin that is expected to be circulating in the Ethereum network should be 2,000,000,000. Out of this amount, 1000,000,000 were released to early adopters during the launch stage.Out of this 1000,000,000 coins released to early adopters, 500 million coins were sold to investors while 250 million remained to the founding members.Another 125 million coins were preserved to the employees compensations and to the company's expenses while another 100 million for promotion and incentive purpose.Another 25 million were preserved to the advisory boards The remaining 1000,000,000 are expected to be released through streaming mining process for a period of 10 years.For the first 5 years, 375,000 coins will be stream mined everyday after which the amount will keep on reducing for the remaining 5 years until all 1000,000,000 coins are being stream mined. For every playlist played by the listeners, they will be entitled to 5% income generated while the remaining amount, the music content owner will be entitled to 80% while choon platform will remain with 20% Here is the image of the Choon NOTE circulation;
Choon NOTES Price
Currently, 1 choon NOTE is worth more than $0.00 since it has not yet started trading on any exchange and is abbreviated as NOTE. When the trading is live we will let you know
Converting my Choon NOTES to other cryptocurrencies
To convert your Choon NOTE to other cryptocurrencies such as bitcoin and ethereum, you need to have a cryptocurrency exchange account. Currently, Choon NOTE is not listed on any exchange. When the listing is done, we will let you know
Storing my Choon NOTES
To store your Choon NOTE coin, you need an Ethereum wallet compatible to ERC-20 Ethereum wallet. You can use Myetherwallet or metamask
Transferring my Choon NOTES to other Users
If you want to transfer your Choon NOTES to another user, the two of you must have trust in each other. The trust should be the Choon NOTE address provided for the receiver while the sender must have the Choon NOTES balance in their account to send to the receiver. For the sender, a blank space to insert receiver address and another blank space to insert the amount to send to the receiver is indicated. Here is how it looks like;
Knowing more About Choon NoteS
If you feel that you need to learn more about Choon NOTE coin or you want to start uploading your music work over their platform so that you can let your fans to start listening to your songs at Choon platform, then you can follow the link below to open a choon account and start uploading your songs immediately to start maximizing on your music work
Now that you know, I think that it is time for you to start earning some Choon NOTE when your uploaded music work is being listened by your fans or by other choon music listeners. The more your songs are being played the more Choon NOTES you earn. If you feel that I should also own some Choon NOTES for helping you to know about it then here is my Choon NOTES address compatible with ERC-20 token.