As a means to finance the project and encourage users, the Ethereum-based Basic Attention Token was developed. The browser also integrated a cryptocurrency wallet, Binance and Gemini platform widgets and many other attractive features that make the browser “crypto-friendly.”
What the Brave browser and Basic Attention Token are all about
The browser provides fast access to sites, doesn’t transmit user information and blocks requests to collect it. However, its main feature is creating a unique system of interaction between users, advertisers, content creators and the sites where it’s hosted.
Users get Basic Attention Tokens (BAT) for using the browser, viewing ads and other content, which can be used to:
- donate to a favorite site or platform
- exchange tokens for other financial assets
The Brave Project: Success Story
The developers launched the web browser in the spring of 2016. The main features were increased anonymity and fast operation by eliminating annoying advertising blocks. This was a plus and a minus for the project, especially from a competition standpoint, as it wouldn’t go on to become a worthy competitor to giants such as Google Chrome, Safari, etc.
The First Attempts to Develop the Project
The first noticeable moves towards its development occurred after the presentation of the Basic Attention Token on the cryptocurrency market in 2017. Initially, the developers announced the release of 300 thousand coins. Within the first six months, BATs totaling $1 million were brought to the market. In early 2018, the price reached its then peak of $1,08. That price didn’t last long, and the BAT’s value was back to about 10 cents by 2019.
Initially, BATs were used as rewards for interesting content creators and trading partners. But in the spring of 2019, the list of opportunities for BAT holders was expanded. Developers gave users the possibility to receive tokens for watching commercials. They also offered personalized ads based on a particular user’s search history. Thanks to this, the BAT rate rose to $0,5, though it had already fallen back to 10 cents by 2020.
The Next Step: Working with Cryptocurrency Exchanges
In 2020, BAT coins experienced the next surge of popularity. The reason was that the Binance widget was integrated into the Brave browser. Thanks to this, executing crypto transactions has been greatly simplified.
The project developers decided to expand the functionality and work with several exchanges. Before the fall of 2020, the Brave browser added support for Gemini. Users could connect exchange wallets with Brave and buy, sell or store cryptocurrencies in the browser. Many experts were skeptical about such innovation, believing that it would have a negative impact on BAT, but in practice, the price of coins rose to 40 cents in a few months.
The Project’s Continued Development
The Brave developers are building a whole ecosystem based on their browser. This winter, they integrated the InterPlanetary File System into the browser, making access to media content involving peer-to-peer (P2P) systems more convenient.
In February, the creators announced a partnership with Origin Protocol, making it possible to buy and sell NFT tokens in the browser. In addition, the developers also planned to launch a decentralized crypto exchange, providing improved Brave cryptocurrency wallets with the ability to work in the DeFi assets market. Thus, BAT reached a new peak of $1.53 in March-April 2021, although the price tag has fallen slightly since then (following the entire market). Nevertheless, currently, the value of coins stands steadily at 70-85 cents, and the number of active users of the browser exceeds 20 million.
