This article was first published on Chainlink
Using Chainlink External Adapters to connect various components of decentralized infrastructure is one of the ways the Chainlink Network is helping to make it easier for smart contract developers to build new use cases and fully decentralized applications. Chainlink Prize winners from the ETHOnline Hackaton Toshiake Takase and Tsukasa Noguchi used Chainlink's oracle infrastructure and IPFS to enable artists on Audius's blockchain-based music streaming platform to distribute token rewards to their fans without the costly gas fees associated with hundreds or thousands of individual transactions.
In this tutorial, the Iroiro team shows how to use Chainlink to connect to IPFS for cost-efficient token distribution and a variety of other Ethereum infrastructure use cases.
In addition to being useful as a currency, the ERC20 token standard on Ethereum can also act as a utility token.
In this context, we focused on the usefulness of tokens as a means of communication between creators and fans and developed "Iroiro" (GitHub repository is here) as a platform to enable artistic creators to generate their own ERC20 tokens and distribute them to fans.
There are many potential use cases for this type of creator token, and the purpose of distributing these tokens to fans will vary depending on the creator. Sometimes it's simply to express gratitude, and other times it's to allow access to exclusive content or experiences such as private chat channels, livestreams, or live performance perks. The range of potential exclusive rewards is another creative space for artists to explore.
However, the current costs of transacting on Ethereum create a barrier for many transactions. The cost of sending tokens can easily outweigh any benefit that an artist may receive from added fan loyalty. In order to make a fan rewards program a scalable ...
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