Opus (OPT)

Opus (OPT) widget

ICO date: 20.07.2017 - 19.08.2017
Industry: Art & Music
Description:

A fully decentralized music sharing platform, running on IPFS and Ethereum. Public Beta live on the Ethereum network.

Features:

Opus uses a 4 layer system that allows for a fast transfer of value along with a rapid and immutable storage solution. By separating the different aspects of the platform, the Opus beta, which is running on the live block chain, can play back your music files at blazing fast speeds.

Technical details:

4 layer decentralized system that uses cutting edge low latency IPFS as a storage layer to store songs permanently and transparently. A Ethereum-based logic layer to handle all the transactions on the Opus network. A Universal Music Registry Number (UMRN) relay to keep track of a global ledger of music tracks, and last but not least an Opus-API that enables any player, including the core player to access the Opus Infrastructure and play music tracks all around the world. With such a immutable system in place, we then introduce additional mechanisms such as the OpusDAO, and the artist bounty system. To this end, we have developed a novel 4 layer solution that drives the Opus protocol stack. Application layer: This is the top layer where the Opus API interacts with various 3rd party players to decode and deliver music tracks. Logic layer: This layer, is a system of smart contracts running on the Ethereum blockchain. On this layer, resides the user contract which stores each user’s decryption keys, reference file hashes to the IPFS storage, and the business logic that handles transactions. Directory layer: While each track has it's permanent IPFS hash, the directory layer is a JSON database that stores all the Hashes of tracks available on the Opus network. Storage layer: Due to gas constraints, we store all the tracks on the IPFS network. This ensures that songs are available permanently, decentrally and with low latency.

Website: opus-foundation.org
Whitepaper: Whitepaper

Rating Review and Analytics

Investment rating
NA
Hype score
Very High 4.3 / 5.0
Risk score
Very Low

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See also