The Currency

A decentralized global currency for 21st century and beyond.

Money system

Musicoin ($MUSIC) is a money system running across a global computer network generating blocks of data based on transactions. The technology behind this is called Blockchain, which has been proven by Bitcoin over the past nine years to be supremely secure, immutable, and transparent.

Money Supply

The annual growth in supply of coins has been carefully set to follow the anticipated rate of growth of music publishing and consumption. Although there is no finite limit to the number of coins that can be mined, a combination of market forces, mining difficulty and network dynamics will ensure that supply is sufficient to keep up with demand such that a fairly stable price and value in relation to other currencies will be achieved.

Where do the coins come from?

The process of generating MC is called mining (or minting). In simple terms, mining is based on all computers in the Musicoin network running the same software where the first one generating a data block which is then confirmed by peers is rewarded with 314 coins. Computers, or pools running greater amount of computer or ‘hash’ power, generally earn a greater share of rewards.

Can $MUSIC be exchanged?

Absolutely. At present, Musicoin is listed on Cryptopia Cryptocurrency Exchange where it can be exchanged for other cryptocurrencies including Bitcoin, and subsequently converted into fiat money.

Symbol

The currency symbol of Musicoin is

$MUSIC

Value

While it is ultimately the market that defines the inherent value of Musicoin, MC is closely linked with actual music consumption. The fundamental unit of MC is based on a Pay-Per-Play methodology in which one stream of a song is valued at 1 MC.

Can MC be used elsewhere?

It is envisioned that MC will be tradable for other goods and services beyond music consumption such as artist merchandise, concert tickets and perhaps even non-music related items.