Token Creator
The PolkaMusic Token Creator will provide the functionality for deploying assets. On other blockchains, on-chain assets are issued via smart contracts, which usually comes with a lot of associated inefficiencies, such as:
  • A Smart Contract for every token is redundant and stays on the chain forever.
  • High fees, as smart contract platforms must meter every step of execution
Metering the same logic repeatedly wastes system resources because the execution complexity and resource usage are well known. By encoding asset functionality directly on-chain, the system will be made more efficient and the token creation process is much cheaper than on other blockchains.
The newly-minted tokens can be used for:
  • Crowdfunding: Ownership of a song can be distributed to the funders, who can receive monthly royalty payments from the PolkaMusic Oracle & SSPs.
  • Artist Coins: Each artist can have their own coin for their fan base which can unlock a variety of privileged content.
  • Smart Streaming Platform: A Smart Streaming Platform can create a micro-economy with its own token, native to its dApp, where users can pay its subscription fee using it and artists could be paid royalties.
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