There are three general types of remote bitcoin cloud mining – hosted mining, virtual hosted mining and leased hashing power. Regardless of the type of cloud mining one does, it is evident that crypto mining has risen in popularity since one could profit from it. Moreover, cryptocurrency such as bitcoins is gradually becoming a legal tender for many industries because of the pluses of the blockchain technology.
Blockchain and Music Platforms
Music platforms that are decentralized grant more power and control to a person. A music environment that is without intermediaries allows music artists to instantly get remunerated for their music streams and sales of their merchandise. Moreover, artists are able to share a financially favorable relationship with their supporters and fans, directly link up with other members and contributors in the music industry, as well as simplify the management of digital-rights.
Majority of decentralized or blockchain music platforms possess a common feature called micropayments wherein it allows for immediate payment to creators. Each music platform may utilize a particular cryptocurrency or crypto token that is paid and distributed amongst rights holders after their music is streamed or when they have sold a product or merchandise. This procedure is carried out by smart contracts.
How do music artists benefit from it?
- Because intermediaries are little to none, artists are able to plot a course of their career on their own. While working on the blockchain, artists could elect to go for a career in music without record labels, lawyers, banks, and more.
- With the technology on blockchain being immutable, music artists gain in keeping records. Every transaction and data are authenticated and confirmed by a manifold of sources within and throughout the network, time stamped, as well as secured utilizing cryptography.
- Artists get their revenue or income in instantaneously and in real-time since transactions from consumer or user to artist transpire with no middlemen involved.
How do listeners benefit from it?
- On traditional music platforms, listeners experience interfering ads, paid subscriptions to access streaming services, and listeners don’t support their favored music artists directly because of intermediaries.
- The blockchain technology in music platforms allows for free music listening experience. A number of platforms would even pay listeners compensation for sharing tunes, music or songs from their platform.
- Listeners are not disrupted by advertisements. Therefore listeners could changeover from one song or tune to another minus the advertisements hat ticks off the mood.
- On numerous platforms, in return for crowdfunding the music artists, listeners could get shares from the artist’s future revenue.