AVXChange is the next evolutionary step in the current peer-to-peer (P2P) industry and is undeniably superior to traditional methods of file distribution, leading the way to the development of the first ever P2P file sharing platform that compensates intellectual property (IP) owners and incentivizes users by allowing them to earn for their role in distributing the product to market.
AVXChange, or Audio Video eXchange in its simplest form is a retail platform for audio and video entertainment. More specifically, AVXChange is a custom, incentive based, P2P file sharing platform designed for the exchange of audio and video media over the internet. AVXChange could further be described as a FinTech business established on the principles of Distributed Ledger Technology (DLT) set to revolutionize the distribution of entertainment over the internet.
The company’s goal is to address a need in the market to convert uncompensated P2P media file downloads into compensated media downloads by incentivizing P2P file sharing participants to purchase their files. Uncompensated downloads are when IP owners receive no compensation for their work being downloaded which are present on many existing P2P file sharing platforms.
AVXChange resolves the need for artists to have a fair, transparent market for their digital distribution, unlike current subscription models which only give artists pennies on the dollar for their works.
Through AVXChange, file sharing participants are incentivized to compensate IP owners by allowing those sharing the files to profit from their involvement in the distribution network, economically compensating them for the usage of their bandwidth, processing, and storage resources.
AVXChange is the evolution of P2P file sharing. Unlike other existing P2P file sharing applications, the AVXChange platform will be a distributed system using blockchain to eliminate centralized data points, thus increasing security and transparency as all nodes on the network will reach consensus on data and events.
The AVXChange network will be a custom built platform which includes the distributed ledger/database, cryptocurrency, a layered node network, a client application, and backend administrative application/interface. The ledger and cryptocurrency will be secured using cryptographic algorithms, blockchain type hashing, and custom consensus methods.
It will be powered by its own token running on its own proprietary network and blockchain. The AVXChange Token (AVX) will be the currency of the commerce on the network and may be exchanged for other cryptocurrencies at the given exchange rate at the time. AVX tokens will be earned by sharing media files as well as by acting as a node which supports the network infrastructure.
As the rate of technological advancement is rapidly increasing, along with the increasing popularity and advanced applications of blockchain and cryptocurrency among different industries, AVXChange has found a way to incorporate these revolutionary technologies into the current P2P file sharing with the goal of bringing the current P2P industry to the next level.
Unlike typical ICOs, AVXChange had already started its platform development last year and self-funded the entire operations before its token sale with the goal of offering its potential investors with a working product during token sale instead of just selling pure concept. AVXChange is set to launch their beta release this month and had started their ongoing token pre-sale last March 25, 2019.
If this is your first time reading about AVXChange and haven’t completely understood the project, you can check our explainer videos which explain the platform and the company’s vision for non-tech-savvy readers. Click the link to watch the videos: