The SoundProtocol project
We propose the SoundProtocol project as a solution to these problems. The mission of the SoundProtocol project is to give everyone the freedom to distribute, monetize, and stream any audio content.
The SoundProtocol protocol brings artists, node operators, and fans together in an incentive-aligned way, allowing these actors to collectively provide a high-quality audio streaming experience guided by the foundational beliefs that:
Users should be compensated in proportion to how much value they create for the network
Artists should directly engage with and transact with their fans
Governance power should be earned by creating value in SoundProtocol, and shared consistently between user groups contributing to the protocol
Prices and earnings for participants should be consistent, predictable, and transparent
Access should be democratized; anyone can contribute to SoundProtocol they follow the protocol rules, and all information is publicly accessible
Intermediaries should be removed when possible; when necessary, they should be algorithmic, transparent, and verifiably accurate
The SoundProtocol protocol allows artists, fans, and node operators to collectively provide a high-quality end-user music streaming experience without centralized infrastructure. The protocol is comprised of the following 5 components working in conjunction:
SOP token: A platform token and shared token economy that aligns the incentives of all participants with three primary prongs of functionality: access, security, and governance
Content nodes: A user-operated network of nodes to host content and permission access to content on behalf of artists
Content ledger: A single source of truth for all data accessible within the SoundProtocol, anchoring references to content hosted by content nodes
Discovery nodes: A user-operated network of nodes that index the SoundProtocol content ledger and provide an easily queryable interface for retrieving metadata
Governance: A mechanism for modifications and improvements to SoundProtocol, which shares control among those who have created and are creating value on an ongoing basis
Put together, SoundProtocol creates a protocol where the shared success of the platform directly benefits the users responsible for its success.
The protocol will also require end-user facing clients—these enable users to upload content, discover and stream content, and follow one another within the network. The project team has produced an open-source reference client implementation, hosted at SoundProtocol.co. Any developer may produce and distribute their own client too; many have already.
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