Somesing  A Decentralized Ecosystem for Music Lovers

A Decentralized Ecosystem for Music Lovers

11
views


Digitalization has not merely proven exponential for the mainstream business realm, it has also provided an array of innovative opportunities for creative minds and significantly helped them flourish on a global scale. One such unique and innovative invention was Karaoke. In the year 1971, the Japanese musician, Daisuke Inoue invented the karaoke machine in Kobe, Japan. Soon after its invention, the concept became extremely popular in Asia and promptly, it popularity spawned across the globe. Presently, there are many digital karaoke softwares and apps that enable users to enjoy Karaoke on their smartphone and personal computers.

Challenges of Present Karaoke Scenarios

The popularity of karaoke applications has certainly been skyrocketing over the past few years. However, how many of these karaoke applications operate to benefit users? The existing system of karaoke application offers various services based on the profit they gain from the users fees. To enjoy and recreate music, users have to pay fees. While karaoke allows users to compose their own music, users don't receive any rewards in return for their creative work.

SOMESING - Bringing About a Karaoke Revolution

SOMESING is an unconventional concept that envisions to transform the present system of karaoke application and make it more user-centric. It has leveraged blockchain technology to offer users compensation for their creative efforts within the ecosystem. SOMESING is a free service platform for SingLovers worldwide. The platform enables participants from around the world to become an active creative member and compose music covers based on their preferences. Additionally, the platform has a fair reward and profit sharing system that rewards creators to encourage their creativity.

The Two Staking Elements of the Platform

The development of SOMESING centers on two staking elements. The first element offers free singing and composing services. It further allows users to open their digital store via a single token deposit. Adhering to the free service policy of the platform, the deposited tokens are returned to the users when they use the services within the app.

The second element is the design of the content wallet and emphasis on the distribution of tokens. Within this content wallet, tokens accumulated by sponsors, gifts, and external marketing are kept for four to eight weeks. As the submission of video content increases, the number of tokens accumulated in the wallet also raises. After the completion of a set period, these accumulated coins are distributed to the music creators based on their contributions.

Why a Decentralized Approach?

The present compensation system of karaoke application is based on the centralized system. However, the centralized compensation system lacks reliability, transparency, and security. SOMESING has leveraged blockchain technology to eliminate the aforementioned inefficiencies. Through a decentralized compensation system, it offers users transparency and security while distributing rewards and profits.

SOMESING - Recreate and Get Rewarded

SOMESING is a music service that integrates blockchain technology in order to offer music producers fair rewards for submitting their work and contributing to the ecosystem. It is a user-centric platform that envisions to provide creative minds with a secure and transparent ecosystem to showcase their skills and earn substantial benefits in return.

Popular Right Now

11 Steals To Buy This Memorial Day Weekend You Don't Want To Miss Out On

Grab these deals before they're gone!

337
views

These summer deals will be a great addition to your home or outdoor space. Get them today before they're gone!

Related Content

Connect with a generation
of new voices.

We are students, thinkers, influencers, and communities sharing our ideas with the world. Join our platform to create and discover content that actually matters to you.

Learn more Start Creating

Are Bitcoin And Litecoin Same?

On the surface, both Bitcoin and Litecoin have a lot in common.

10
views

Superficially, both Bitcoin and Litecoin share a great deal for all intents and purpose.
Where state monetary forms like USD or JPY depend on political and legitimate instruments for esteem and authenticity, computerized monetary standards depend on the cryptographic trustworthiness of the system itself.
However, Bitcoin and Litecoin vary in different viewpoints.

Market Cap
Starting late 2018, Bitcoin's market capitalization sits at generally $109 billion. Regardless of whether this figure strikes you as high or low depends generally on verifiable viewpoint.

When we think about that Bitcoin's market capitalization is scarce $42,000 in July 2010, its present figure appears to be stunning, however not as much when contrasted with its high market top of $59,939,396,635 at present.
While Bitcoin remains the most profitable player in the crypto space, others like Ethereum, Ripple, and Litecoin are getting up to speed.

Total Coins
One of the primary contrast between both is the all-out number of coins that every one of them can deliver.
The Bitcoin system can never surpass 21 million coins, while Litecoin can oblige up to 84 million coins.

Exchange Processing Speed
Despite the fact that actually, exchange happens immediately on both the systems, yet time is required for those exchanges to be affirmed by other system members.

According to the information from Blockchain.info, Bitcoin system's long haul normal exchange affirmation time is a little more than 10 minutes for every exchange, notwithstanding, this may fluctuate generally when traffic is high.
The equal figure for Litecoin is generally 2.5 minutes.

On a basic level, this distinction in affirmation time could make Litecoin considerably increasingly appealing for the dealers.

Distinctive Algorithms
At this point, the most central specialized contrast among Bitcoin and Litecoin are the differed cryptographic calculations which they use.

Bitcoin makes utilization of the longstanding SHA-256 calculation. Then again, Litecoin makes utilization of a relatively new calculation known as Script.

The essential down to earth criticalness of these distinctive calculations is their effect on the way toward mining new coins.
In both Bitcoin just as Litecoin, the way toward affirming exchanges needs generous registering power.

A few individuals from the system apportion their figuring assets toward affirming the exchanges of different clients.
In return for doing as such, these excavators are given square rewards by gaining units of the cash which they have mined.

The Bottom Line
While Bitcoin and Litecoin might be the gold and silver of the digital currency space today, history has demonstrated that business as usual in this rising part can change in even a few months.

It remains to be seen whether the computerized types of cash with which we have agreeable will hold their stature in the months and years to come.

Related Content

Facebook Comments