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About BitSong

BitSong is an open source, distributed, and permissionless music platform built on blockchain technology. The platform aims to establish a decentralized forum for connecting various music industry players. According to the whitepaper of BitSong, the platform is not merely a streaming platform; instead, the platform is a decentralized system of services offered by music providers, fans, traders, and artists.

The whitepaper states that the music industry is witnessing complexities of bureaucratic and economic issues. The industry is characterized by excessive intermediation and non-transparent business models that are disadvantageous for artists. Royalty distribution methods of the music industry are complex, unfair, and inefficient. Such an inefficient system results in more royalty allocation to the intermediaries while artists and musicians receive a trivial amount. Thus, BitSong aims to enable musicians and artists to upload their musical work on the platform independently or through music providers and earn through their work.

BitSong seeks to offer an NFT Marketplace to the users whereby they can purchase, sell, and collect NFTs of their preferred artists while still earning. The platform also enables the fans to obtain exclusive merch and rare items from their favorite artists. Additionally, the users can vote and be a part of the platform's decision-making process.

BTSG is the native token of the BitSong platform. The platform aims to utilize BTSG as a governance token to enable the token holders to vote on blocks and improvement proposals. The voting power on improvement proposals is determined by the amount of BTSGs staked and the duration of staking. The whitepaper states that BTSG is utilized for paying fees and for exchanges between artists and fans, traders, and music providers.

BitSong is based on the Delegated proof of stake (DPoS) consensus mechanism. The DPoS consists of two parts: the election process and production planning. The election process aims to control the BTGS holders through a democratic system. The production planning system enables the voters to detect malice in the voting system.

BitSong was founded in December 2017 by Angelo Recca, who is also the CTO. Iulian Anghelin is the cofounder and general manager of the platform. Andrea Della Balda is the CEO of BitSong.

Market

Portugal Market Stats

Market cap

€1.0M

Volume (24h)

€3,038.97

Circulating supply

116.3M BTSG

All time high

€15.57

Price change (1h)

-0.65%

Price change (24h)

-4.99%

Price change (7d)

-13.84%

Portugal News about BitSong

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Decrypt • Apr 30, 24

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The Block • Apr 30, 24

Prospective stablecoin bill unlikely to be attached to upcoming FAA reauthorization: Democratic aide

A prospective stablecoin bill will likely not be included in the upcoming must-pass FAA bill as lawmakers try to get the bill passed.

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The Block • Apr 30, 24

Read the Runes: Bitcoin’s market cap to transaction fee ratio briefly falls below Ethereum’s

Earlier this month, the moving average of Bitcoin’s ratio was 2,400 compared to just 118.33 for Ethereum, but on April 25, Bitcoin’s ratio had fallen down to 220.77, lower than Ethereum’s 227.12.

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Related Assets

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BitSong is on the decline this week.

The price of BitSong has decreased by 0.65% in the last hour and decreased by 4.99% in the past 24 hours. BitSong’s price has also fallen by 13.84% in the past week. The current price is €0.0087 per BTSG with a 24-hour trading volume of €3.04K. Currently, BitSong is valued at 99.94% below its all time high of €15.57. This all-time high was the highest price paid for BitSong since its launch.

The current circulating supply of BitSong is 116,313,026.073 BTSG which means that BitSong has as total market cap of 116,313,026.073.

FAQ

What is the current price of BitSong?

We update our BitSong to EUR currency in real-time. Get the live price of BitSong on Coinbase.

What is the market cap of BitSong?

The current market cap of BitSong is €1.01M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of BitSong?

The all-time high of BitSong is €15.57. This all-time high is highest price paid for BitSong since it was launched.

What is the 24 hour trading volume of BitSong?

Over the last 24 hours, the trading volume of BitSong is €3.04K.

What other assets are similar to BitSong?

Assets that have a similar market cap to BitSong include WigoSwap, LEMONCHAIN, Lido for Solana, and many others. To see a full list, see our comparable market cap assets.

How many BitSong are there?

The current circulating supply of BitSong is 116 million.

Can I buy BitSong on Coinbase?

Yes, BitSong is currently available on Coinbase wallet. For more detailed instructions, check out our helpful how to buy BitSong guide.