Aug 25, 2018 at 09:42
Aug 25, 2018 at 09:42 UTC
Crypto Hits The Radio With JAM Music Token
Some time back, hearo.fm had announced the development of a token for their music streaming platform, named the JAM token. Today, the group has announced the Hedera Hashgraph public ledger as the base upon which they’ll build their token. The group intends to start off a completely tokenized music scene named tune.fm which will allow artistes to earn every time their song is streamed, while fans can earn tokens by curating playlists on the platform.
Hedera is going to provide a public blockchain ledger that will allow any developer to easily create secure, fast, and global applications. Hearo.fm has decided to trust Hedera Hashgraph since the tech it employs makes it possible to send out micro-payments to artistes streamed on a global level. Considering Hedera’s super fast and rather inexpensive services, the group would ideally be able to run a robust token that is efficient and fast, and will be easily available to millions of users.
“Hedera Hashgraph is the only platform that will truly fit our technological need to enable lightning-fast micropayments for music streaming around the world,” said hearo.fm Inc. founder Andrew Antar. “When the music gets played, the artist gets paid.”
According to the whitepaper submitted by the Hedera Hashgraph platform, they have an “Open Consensus with a closed Governance” model for their services, that’ll ensure gradual decentralisation over a period of time. These terms mean that one single user will not have any dominance, and tiny groups of users will have no unrequited influence over the platform. The network shall be distributed evenly over several million nodes, the voting consensus in which will be distributed.
The Hedera scripts will also be under the scrutiny of the HHC, and open review. This means that apps that will be developed using the platform can either be open source or proprietary. Any additional licensing or permissions from Hedera will not be required. The firm looks to bring more stability to its platform and the token, and will therefore accept open review happily. This is how the firm wants to provide a transparent codebase.