On 14th July, Brave, an open-source web browser developed by Basic Attention Token [BAT] announced on Twitter that they passed 3 million monthly active users. By the end of this year, BAT expects to reach five million users.
Basic Attention Token [BAT] is a digital advertising token based on the Ethereum [ETH] blockchain. BAT focuses primarily on the issues in the digital advertising space. This includes issues such as users being tracked unknowingly and concerns over data ownership. Monetizing content is becoming a tough task for publishers, and advertisers are constantly subjected to fraud.
BAT aims to change the monopolization that exists over the digital advertising revenue space today. Google and Facebook alone receive a whopping 73% of all online advertising revenue. BAT functions by removing the middlemen from the process of advertising.
BAT ensures that publishers receive the majority of the ad revenue directly and that users are paid for the attention they invest in watching ads. Advertisers benefit from it as well, by gaining a better Return on Investment [ROI] and more accurate data to analyze for targeted advertising.
BAT focuses primarily on privacy and speed and has designed Brave to automatically block intrusive ads and trackers. Unlike other popular ad blockers on traditional browsers, BAT does not allow any ads in its browser. Brave also functions by upgrading all the sites possible in order to use the HyperText Transfer Protocol Secure [HTTPS] protocol. This adds another layer of security for users when they are browsing the web.
Last year, the browser raised $36 million during the 30-second Initial Coin Offer [ICO] for the platform’s Basic Attention Token. The browser has seen constant and remarkable growth ever since. Another one of Brave browser’s achievements includes being ranked in the top 10 in Google Play Store’s “free communication apps category.” It was in the top 1o in 21 countries, including Canada, U.S, France, South Korea, and Argentina.
Brave has more than 18,000 verified content creators and publishers. Out of the 18,000, 13,500 are YouTube and Twitch streamers. Brave has added several new features to its desktop browser. One of them is the Tor feature, which allows users to connect to The Onion Router network for browsing. This results in greater protection from tracking by using the onion routing mechanism.
Addressing their motives and aims, BAT said:
“The current advertising model exploits users and has eroded trust, as well as net revenue to publishers and other creators. We believe that user data and attention hold substantial value if they are defended vigilantly on users’ devices, and that the transparent Brave ads delivery approach and the Basic Attention Token will provide users a fair share.”
Despite Brave’s continuous and rapid expansion of its user base, it may soon face competition. Earlier this week that Bitmain, one of the leading valuable cryptocurrency companies, has made a payment of $50 million for a controlling stake in the web browser Opera. The browser also announced that Bitmain will be launching the world’s first mainstream browser to introduce a native Ethereum wallet and decentralized application [dApp] browser.
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