Opus is a unique and innovatively-designed music-sharing platform that helps deal with the rather complex issue of music ownership and its sharing. This decentralized platform makes use of the speed and redundancy of the Interplanetary FileSystem also known as IPFS. Opus is capable of scaling and delivering literally thousands of music tracks in a second.
The amazing throughput achieved by Opus is a result of encryption technology that deals with tracks on the fly. These files are stored on the IPFS system permanently. The elements saved immutably are the file hashes and the decryption keys and they are saved on the Smart Contract of Opus. This is the secret behind the ability to facilitate features such as file ownership and trade. Opus allows artists to earn money on their creation by selling access to their files and the encryption keys to the buyer through an Ethereum contract. This neatly obliterates the presence of any middleman.
The four-layered and beta-ready Opus decentralized system incorporates the innovative IPFS which is low latency. It works as a storage layer capable of storing songs transparently and permanently. All transactions on the network are handled efficiently by the Ethereum-powered logic layer. A key aspect of the system is the unique UMRN or Universal Music Registry Number that acts as a global ledger of tracks. The system also includes the Opus API which makes it easy for players to access the Opus infrastructure and play the tracks regardless of their location. The OpusDAO is the payment system of the network which compensates the artists.
The key benefit of the Opus platform is that it can help deal with the absolute monopoly and centralization of music albums and tracks controlled by a select few influential figures. It helps create a world where those using the system can take their music along anywhere they want to regardless of where they travel. It can be an amazing experience for music lovers to take their music along to any place they want to, on any music player they choose. Also, with Opus, the music tracks they buy remain with them forever. The music specific blockchain is ready for use.
The total supply of OPT, the token associated with the Opus platform are 249,308,531. The circulating supply of OPT is 140,080,549. The market cap of the cryptocurrency is $2,278,074. OPT is currently trading at $0.016263.
Born in 2008, with the bitcoin being the first open-source and widely popular cryptocurrency, the fad associated with them seems to have died down. Th
Dash is a new breed of cryptocurrency, which is a promising alternative coin (also called altcoin) to Bitcoin. In this article, we’ll deal with a br
Mark Cuban June-05-2018
On 29th April 2018, UNICEF Australia proclaimed an initiative which allows a user to hand over his o
There was a time when 10,000 BTC coins would buy 2 pizzas. This was around 8 years back. Now, one
In its past reports, CCN made a note that the 8,200 USD resistance level seems to be a crucial st
Tony Scott May-16-2018
In a meeting with CNBC this Monday, i.e. 14th May, a top-rated policymaker of the US spoke in sup
Jeremy Liew May-08-2018
Sergey Brin, the co-founder of Google says Ethereum mining has assumed an important part in the curr
Tony Scott May-07-2018
The Bitcoin blockchain left its mark in April with the 17 millionth Bitcoin being mined. In case you
Tony Scott May-05-2018
Bitcoin and Ethereum are two world-renowned cryptocurrencies that have led the crypto market and sur
Jeremy Liew May-04-2018
Today, digital currencies are doing kind of things that investors and Wall Street have never seen be
After long, the world’s most popular cryptocurrency, Bitcoin seems to come back. The &lsquo