Over the years, users have been accessing free content and services over the internet in exchange for consuming ads and sharing personal information. This model has thrived for the last decade, with tech giants like Google and Facebook reaping huge returns from digital advertisements. Web browsers have also skyrocketed in both market cap and dominance. They dictate how we consume content and distribute information across the internet.
However, the biggest downside to the traditional model is the lack of data privacy. Just recently, the Cambridge Analytica scandal exposed how tech giants can misuse our private data. The breach brought massive changes in the tech world but the problem is not disappearing any time soon. Following Facebook’s data breach, content creators are finding it difficult to fully monetize their work through traditional display advertising. They are now seeking alternative models like Patreon and Twitch tipping that allow users to pay content creators directly and bypass platforms like Youtube and Facebook.
Say hello to Brave blockchain browser
The innovative Brave browser seeks to solve privacy and monetization challenges for users and content creators. The browser automatically blocks intrusive ads and utilizes a new currency to transact across the internet. Moreover, the browser promises to pay users for simply browsing the internet.
Just like Firefox and Chrome, Brave is a free internet browser that runs on both mobile and desktop devices. It promises speeds of up to 2 to 8 times faster than the traditional browsers. Again, the browser prevents third parties from sharing your personal data like location, behavior, and browsing activities without your consent. Brave additionally plans to strip websites of their ads and replace them with their innovative display advertising network.
How Brave blockchain browser works
Browsing on Brave is flawless and completely ad-free. The browser automatically blocks ads and trackers that often linger on web pages across the internet. Typically, sites like Twitter host more than 70 trackers per site. On Brave browser, users can still opt-in to see ads as they browse the internet and earn 70 percent of the ad revenue. The payment is made in the form of Basic Attention Token (BAT). The browser will only host private ads that are not dependent on first-party data. This feature is still under development, meaning that users won’t get paid for browsing the internet just yet.
How is BAT different from cryptocurrencies like Bitcoin?
BAT is founded on the Ethereum blockchain. Currently, there are 1 billion BATs in circulation, and the number will never change. So, it is similar to Bitcoin in terms of scarcity. However, it is unique in the sense that it provides an underlying service. The Brave project has created a BAT use case and its success is likely to give BAT instant value. Users can buy and sell BAT on various exchanges, just like you would with other cryptocurrencies like Bitcoin. Today, 1 BAT is worth about 17 cents. So, the total value of all BATs in existence is about $170 million.
How do content creators make money?
Content publishers also make money through BAT. Users can set their monthly budgets to pay their favorite publishers using BAT in their accounts. You can either purchase BAT in any exchange or simply accumulate BAT in your account by opting-in to ads. The Brave browser has a mechanism that automatically calculates the time you spend on each website that accepts BAT payments. Your monthly budget is then distributed proportionately to your favorite sites. Additionally, publishers can convert their BAT into fiat money.
Today, Brave has brought on board more than 20,000 verified publishers, including reputable newspapers like Washington Post and the Guardian.
How do you buy BAT?
Currently, Brave browser does not support a direct purchase of BAT via bank accounts or credit cards. However, this functionality is being developed and should be availed in the near future. So, you can only buy BAT through another cryptocurrency like Bitcoin, Ethereum, or Litecoin. Users can do that through the Brave browser or through a crypto exchange. Interestingly, Brave currently gives away free BAT to new users as an introductory promotion. The majority of currency users are crypto nerds, at least for now. Users can also use BAT to redeem premium content, buy digital goods and services, pay for subscriptions, or transfer to other users.
What does the future hold for Brave?
The Brave project has a huge potential to transform how we consume content across the internet. Users are increasingly becoming wary of the manner in which their data is collected and sold to third parties right under their noses. Ad-blocking extensions on most web browsers have made display ad experience disruptive. Unfortunately, users don’t benefit from the experience. Brave seeks to reverse this trend by providing a faster and less obtrusive browser. The browser literally pays you for just browsing the internet. The rise of Patreon/Twitch tipping is an indicator that users are willing and ready to pay content creators.
Moreover, Brave promises unparalleled privacy and security. The browser fights malware and prevents tracking, which helps to keep your information safe and secure. Since Brave is not in a personal data business, the browser neither sees nor stores users’ browsing data. Your information remains private on your device until you choose to delete it. That means that your data cannot get in the hands of third-party players. Users also have the option to customize shield settings on a per-site or browser-wide basis. You can see the number of ads and trackers being blocked under the New Tab Page.
Brave blockchain browser allows users to support their favorite sites with Brave Rewards. You can do that by simply activating Brave Rewards on your desktop and give some coins to the sites that you frequent. Even as you block ads, you can help fund the content you love. All these functionalities are made possible while still keeping your browsing history private and secure. With over 20,000 publishers already registered, this disruptive browser is truly revolutionizing content consumption.