Tiktok becomes one of the most used app this days. It is the world's biggest short video platform that has been used worldwide, by common individuals and biggest music industries. They have partnered with music streaming platform who run it's platform on a blockchain, which called Audius. The said company will be handling the audio library of tiktok for the next two years. With this, songs that will be stored will have an unique assigned codes. This means more transparent payment will be experienced. Audius employs a "user-centric" model, wherein artists will be paid directly by individual users who stream their music, but there is no indication that tiktok will be using the "user-centric" revenue model of Audius, but will incorporate royalty payment when video plays will be a reasonable expectation.
Blockchain has made headlines recently for using more energy than airlines or even entire countries. Different types of chains have different impacts on the environment based on how they're designed. The proof-of-stake (POS) model is significantly more energy-friendly than the traditional Proof of Work (POW) model. Blockchains operate differently than traditional IT systems. Different types of chains have different impacts on the environment based on how they're designed. Proof-of-work (POW) is what's behind traditional "mining," where miners compete to solve a mathematical puzzle. The Bitcoin Foundation has switched to a more energy-friendly model of proof-of-stake. Proof-of-stake (POS) requires those working on the chain to have skin in the game. POS also reduces power consumption and accelerates the handling of transactions. The model is being adopted by big names in the industry such as Bitcoin, & Ripple.
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