Launch of Brave
The project was launched by Brendad Aich and Brian Bondi on May 28, 2015. The idead was to create a new concept that will allow users to get rid of intrusive advertisments, and publishers to receive rewards for content. The concept was based on a special algorithm that allows users to set the amount they agree to pay for visiting a certain resource, and for publishers to receive rewards for quality content. A token BAT – Basic Attention Token was created for settlements within the system.
In 2017, the creators of Brave ran an ICO, the team managed to get the maximum planned amount of $ 35 million in just 30 seconds. In April 2018, a partnership between Brave and the Dow Jones Media Group was formed, representatives of both companies announced that now 2 million users will have access to the premium content of Barron’s MarketWatch which in turn will profit from advertisement views in BAT tokens.
Principle of operation
Basic Attention Token is based on the Ethereum blockchain and the unique Brave browser. BAT token is used as a settlement unit between visitors, publishers and advertisers. This concept provides an objective assessment of user interest for advertisement, and this factor is considered important for commercial use.
The reality of today’s Internet commerce is that users have to watch the annoying advertisements, and the websites often ruin their reputation because of getting overflowed with excessive advertising, tracking tools and sometimes even malicious software. According to the BAT creators this situation incures losses for market participants: users, advertisers and content creators.
Such interaction creates a vicious cycle so all the participants remain at disadvantage:
• users constantly getting unnecessary ads;
• site admins are getting reduced profit for showing useless ads, and even sometimes suffering losses because of the work of bot programs imitating users behavior;
• advertisers cannot target ads correctly, so they have to spend more money and lose customers.
The creators of Basic Attention Token claim that their product can solve these problems. The quality analysis of users interest in advertisements, and saving the received information in blockchain will provide an opportunity to improve the effectiveness of advertisements. All three sides will benefit from this:
• users will receive significantly less ads, while the received ones will be maximally useful for them;
• site admins will be able get rid of unnecessary advertisements from the site, while receiving additional sources of income as well as more loyal udience;
• advertisers will be able to save the budget by showing the ads only to the users who are really interested in it.
Brave is a really useful product that can influence many aspects of online commerce and Internet as a whole. Brave has proved its relevance not only in theory, but also in practice – in August 2018 the team announced that more than 10 million people already are using the browser and the number continues to grow rapidly.