Brave, a privacy-focused web browser, boasts more than 13 million monthly users, yet few seem to be using the platform’s cryptocurrency aspect.
While enjoying a broad user base, users of Brave’s cryptocurrency-enabled web browser don’t seem to take advantage of its token features.
Changpeng Zhao, CEO of major crypto exchange Binance, spoke with Brendan Eich, the CEO and co-founder of Brave, during a live stream on Twitter May 5. Eich said at the end of April his crypto-enabled web browser reached 13.8 million active monthly users, to which Zhao had said:
“That’s probably the most active user base in crypto, to be honest.”
Still, Eich admitted that most do not actually use the features of its built-in cryptocurrency. He said the number of users who choose to join the Brave Rewards crypto-based system that has had their wallets active over the last 30 days is 1.7 million, about 12.32 percent of total users.
Brave Blocks Traditional Ad Tracking
Eich explained that web activity is measured and tracked when a user browses the internet, and all of the data is used to target advertisements to that individual. He has explained how the system works from the point of view of the advertiser:
“People in advertising — working for the brands who make the products, goods and services we buy — will spend a lot of money to try to get you to buy their goods. And so they throw money into this digital ad system, and some of it causes you to see an ad or tracks you so they can decide what ad to show you, but at the end of the day you don’t get any of that money, all you get is the ads and the tracking.”
Eich explained that the Brave browser blocks traditional advertising and tracking, and instead allows the user to choose to participate in a default private “clean” ad and donation model.
The Basic Attention Token (BAT) browser is intended to serve as a user attention account unit that can be used to support content creators and award users who view ads.
Since many Brave users are new to cryptocurrencies, Eich explained that by giving them free tokens in exchange for their activity in the Brave Rewards program, the firm is trying to get onboard users. This allows users to participate in the system and earn tokens, similar to Patreon, that they can automatically donate to creators or set up monthly contributions. He proceeded to:
“When we first released [Brave Browser] on desktop, it was 40% of the desktop browser share and as we added mobile we found people were less willing to use it, but we are working to make it more attractive to use by making it more convenient, making it reward the user more.”
The live stream comes shortly after Binance and Brave have partnered in integrating the exchange with the browser’s desktop version. The desktop version of Brave Browser now features a Binance widget that allows users to trade on the exchange.