The conventional copyright safeguarding system for digital music suffers from a variety of issues. These include susceptibility to assaults, an extended duration of copyright protection, and a lack of data storage security. As a result, this study utilizes blockchain technology for music copyright protection. It devises a plan for copyright safeguarding and network threat defense within the music performance sector. In this article, the music copyright protection and transaction system is established via the consortium chain, IPFS, and the Shazam algorithm, DWT digital watermarking technology and improved consensus algorithm. The music copyright registration time increase of this system is about 1.948s, and the space occupied by the feature fingerprint of each piece of music on IPFS is about 8.05MB, and the improved consensus algorithm shows better fault tolerance and throughput, and the average value of throughput reaches 1251TPS, which is higher than that of the comparison consensus algorithm. The experiments show that the proposed music copyright protection and transaction system has good performance and high security, Moreover, it can achieve the reliable verification of digital music copyright and the safe preservation of transactions.