have come a long way in this short span of four months. Along the way,
we’ve received plenty of helpful feedback and suggestions from our
diverse but united community of miners, musicians, listeners and music
We carefully listened and considered everyone’s thoughts on how to make Musicoin better for everyone involved.
After a lot of careful deliberation, we are excited to unveil a grand
vision for this project that we hope will make creating and enjoying
MUSIC a joyous and rewarding experience for everyone.
present to you here an overarching roadmap of our vision for Musicoin.
Specifically, we will clearly define the objectives of future versions
of the MUSIC blockchain. Our ultimate goal is to make the MUSIC
blockchain more Stable, Sustainable, Secure and Scalable (4S). This
roadmap will help guide us to achieve these goals.
forward, we will design, implement and deploy network-wide algorithms
that are going to bring tremendous utility and value to this blockchain.
Each of these 4S goals strives to establish Musicoin as a viable and
attractive alternative to the current ineffective models of content
creation and distribution in the music industry.
Without further ado, we present to you Musicoin Roadmap. We hope you will share this exciting adventure with us.
Figure 1. Musicoin Blockchain Roadmap In a Picture
Musicoin Version 1.0 (‘Hello’) — Feb. 2017
The current version of the MUSIC blockchain ‘Hello’
is geared towards solving the fundamental problem of unfair
compensation of musicians by the streaming music industry. ‘Hello’ was
created as a fork of Ethereum and so is empowered by smart contract
functionality. In the current version of the blockchain, the smart
contract capability of ‘Hello’ is used as a Pay Per Play (PPP) revenue stream for musicians on the Musicoin network.
‘Hello’ blockchain, powered by smart-contract functionality,
automatically distributes 100% of the revenue to musicians on the
Musicoin platform every time a listener presses play. As it stands
today, Musicoin v1.0, ‘Hello’ is a fully functional blockchain solution
that is powering the rapidly expanding network of Musicoin artists and
bringing the power of automation and decentralization through
blockchain technology, the Musicoin project has removed all
intermediaries between the only two parties absolutely required for a
music economy to thrive; the artist and the listener. And by
distributing an unprecedented 100% of the revenue to musicians, the
Musicoin project has created a tremendous economic incentive for musicians to participate in the platform. It is also the only cryptocurrency project with a currency that provides a tangible utility for the consumer.
Our commitment to the welfare of musicians was a resounding success based on technical, social and economical metrics. In the end, thousands of contributions are made and enjoyed everyday by our community of musicians and listeners.
Musicoin Version 2.0 (‘Heal the world’) — Q3 2017
success of ‘Hello’ allows us to continue to move forward on our path;
and with each passing day, brings us a step closer to Musicoin’s full
potential. Because of our impressive early success, we now have the
freedom to think outside the box in search of ideas that can
revolutionize the music industry. If ‘Hello’ was a proof of concept, our
next version, ‘Heal the world’
is much closer to our vision of the future. So far, we have validated
our concept and witnessed growing adoption of the Musicoin platform
while providing limited initial subsidy (sign-up bonus) to listeners to
encourage and spread adoption.
to radically increase the adoption of our platform by listeners
(end-users) and thereby broaden Musicoin’s adoption and acceptance by
the broader music community, we are introducing a groundbreaking new
concept in cryptoeconomics, ‘Universal Basic Income’(UBI)
for musicians. Once UBI is implemented, listeners will not have to pay
for streaming music on the Musicoin platform. Instead, it will be
completely free for listeners to stream content on the Musicoin network.
The payment to artists for streaming content on the platform will come
from a pool of funds reserved for this specific purpose. That pool will
be funded by reserving a percentage of every block mined on the MUSIC blockchain.
Basic Income as revenue for streaming content on the platform will
guarantee a fair and steady source of revenue for musicians and make
streaming content on the platform free for listeners. At the same time,
it will separate creating and enjoying music on the platform from the
market price of $MUSIC.
goal of UBI is to boost consumption with system-wide subsidy for
listeners thus stimulating the whole economy. Because end users don’t
pay for playback, they can simply relax and enjoy the content on the
platform. A portion of coin issued on the blockchain will be
automatically reserved for future music consumption. Each stream of
music (PPP) will still generate revenue for the artist (PPP) but this
payment will be covered by miners instead of listeners.
Figure 2. UBI Will Drastically Boost Up Musicoin Ecosystem
who stream content for free on the platform will be able to use their
$MUSIC to tip their favorite artists. This will provide a strong
economic incentive to the artists to continue to generate high quality
content and cultivate a loyal fan-base. The amount of $MUSIC spent on
tipping will be entirely up to the end users.
summarize, Every time an end user listens to a song, the system
automatically pays the musician a predetermined amount of PPP, with
funds reserved for UBI, without any cost to or intervention from the
listener. Moreover, if the listener likes the content, and decides to
tip the musician, they can do so with however many $MUSIC coins they
implementation of UBI and a set of APIs will present a vast opportunity
to developers to build value-added services on top of the MUSIC
blockchain and increase its utility and value. It will make it free for
every listener to enjoy music on every app and service that will be
built on top of the MUSIC blockchain. This concept has never been
attempted in thr traditional music industry, and we hope it will
revolutionize the existing paradigms of content creation and
distribution in the music industry.
Musicoin version 3.0 (‘Walking on the Moon’) — Q3 2018
this version onwards, we will introduce our Proof-of-Sharing algorithm
to the network. To clarify, Proof-of-Sharing is not Proof-of-Stake.
Instead, it is a new way to deliver $MUSIC content across the network
while serving user demand. During this time, we will prepare to make the
shift away from Proof-of-Work. It is important to make sure each part
of the network is ready, as the sharing of content will be a key factor
in mining a block. The algorithm will evaluate the probability of hit
rate matching to a specific file hash from sporadic resources. For the
Musicoin network, this is a key component towards becoming a
decentralized content delivery network.
Musicoin version 4.0 (‘Life on Mars?’) — Q3 2019
originally inherited the concept of the “difficulty bomb” deadline from
the Ethereum blockchain. The goal of this “bomb” was to assure miners
and traders that the money supply will slow significantly within 2 years
since it will be harder and harder to mine a block when this difficulty
version 4, the difficulty bomb will be removed once we have implemented
and demonstrated that the Proof-of-Sharing model works. During this
time we will adjust money supply based on trials and feedback from the
Musicoin community. Once the network has spread widely and evenly, we
will begin to adjust and finalize the algorithm. Our ultimate goal is to
make sure the blockchain is scalable and can power a healthy
distribution for decades to come.
Further Discussions, Development and Deployment
be able to deliver on the long term vision of Musicoin, collective
opinions from all community members are very important. We are building
concrete methodologies that will allow us to implement the vision laid
out in this roadmap in the real world, but we can not do it without your
help. That is why we have open-sourced all development processes on our
Github, under the repository “MCIPs”(Musicoin Improvement Proposals).
Here the community can propose detailed solutions, design necessary
algorithms and signal the Musicoin network to deploy them. For
deployment to the entire blockchain, we will have special MCIP(s) to
oversee these proposals and safely upgrade from one version to the next.
advantages of universal basic income for music creators in version 2.0
are obvious, but implementation will require consensus from community
members. Only when we stand together can the Musicoin community realize
its noble ambition of creating a future where creating music is as
rewarding as listening to it.
Isaac MaoDipankar J. DuttaDylan TarreTaha Amir
There are many community members have contributed to this roadmap as well. A collaborative document is online forever for commenting.
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