A short update …
A standstill for the moment
After I enthusiastically started my personal goal in July, three months later it has come to a complete standstill due to the setback that forced me to take out a loan.
The loan was arranged on September 3, 2020… and now almost a month later I am slowly starting to see some light at the end of the tunnel again, there is time again to immerse myself in possibly interesting coins. Because there is of course enough going on in cryptoland with the DeFi happening.
I am very happy that I could get a loan when it was needed, but at the same time I am very disappointed because I am also very good at putting the pressure on myself. Yes, although I have had a month of not growing to my goal unfortunately, my goal is unchanged. And I'm not going to change that either. At the most, it means that I will have to try harder in the coming months ...
Light at the end of the tunnel
Anyway, enough about that. Because now that I am starting to see light at the end of the tunnel again in terms of repayments, I am also looking forward to investing the hive that I earn in fun, good, new or old projects. My Leo stake must increase so maybe that is what I will spend the next hive on when I have finished paying back.
Sniffing around again
There are so many possibilities that it is time for me to immerse myself in potentially interesting projects. For the project of @spinvest and Wleo I would have liked a 500 leo available but unfortunately that is not possible. So look for other possibilities. Of course I would like to hear your advice as always. But that does not mean that I am not also sniffing around again.
Almost ready to let it go for today when I saw my Brave Browser balance
And while I was thinking about which coin I wanted to investigate more closely, was browsing around with the Brave Browser. Saw a lot of coins, and at the same time not one coin really stood out at that time. At that moment when I almost wanted to give up for today … then I looked again at the balance that I currently see in my Brave Browser. And suddenly realized… the BAT token is fun to check out again. Because although we all know it, I think… and I also suspect that everyone in the crypto realms uses the Brave Browser. It never hurts to look at a token again. So today I'm going to take you along in my personal research into the BAT token.
What is BAT actually?
It is clear that BAT is an abbreviation. But what does that abbreviation actually stand for. Anyone who interacts with dogs on a daily basis and also immerses themselves in training methods will probably recognize this abbreviation. But let me reassure you. The abbreviation BAT in crypto currency has nothing to do with the abbreviation BAT in the dog world. In the dog world we are talking about Behavior Adjustment Training… But in the crypto world everyone knows the BAT as the BASIC ATTENTION TOKEN. What you can easily earn by using the Brave Browser! Yes, that's all it takes to get BAT tokens. Not using the Brave Browser yet? I would say, "What are you waiting for?" We all browse, and why not earn some crypto right away. It's really very simple. If you are not using Brave yet and you DO want to do so, use this REFERRAL LINK BRAVE BROWSER, and download Brave today!
Okay, you're using the Brave Browser now? You are browsing, but how do you earn those tokens? Brave blocks every advertisement that would normally appear on your internet pages. But, and here's the trick, Brave does show you ads. With the big difference that you can choose here whether you view it or not. The moment you are offered an advertisement and choose to view it, you will earn a little BAT tokens. My personal experience is that sometimes you are offered a lot of advertisements, and on other days none at all. But for something you actually get for something you would do anyway, I don't even think that's a very big problem. It doesn't make you rich. But every little bit helps. However?
Now that that is clear…
Now of course you also want to know what the thought behind the BAT token is.
Basic Attention Token (BAT) is a cryptocurrency associated with the internet browser Brave. It is an "Ethereum-based token", also known as an ERC20 token, and thus is an extension of the Ethereum blockchain.
Ready to dive in the world of advertisements
BAT is designed as a means of payment within the world of online advertising and web content. It can be used as a means of payment by creators and ad providers and consumers to compensate other parties. For example, a news consumer can make a donation to their favorite news channel, and an advertiser can pay someone to view an ad. This new division of the online economy could be a breakthrough for the online advertising market, which according to the creators of the token is due for renewal. So, unlike other cryptocurrencies, such as Bitcoin and Litecoin, BAT is designed with the specific goal of improving a small part of the current economy. In this explanation you can read everything about Brave and Basic Attention Token.
Who is the inventor of BAT?
However, their joint project had to be completely different. The two saw that users on the internet are increasingly seen as a product. Browsers want to make as much money as possible from ads, and use user data to achieve that. This has resulted in mechanisms that can collect large amounts of information about a user.
Before Brave internet users were left with nothing
Internet privacy has therefore become an increasingly important topic, especially in recent years. Large companies, including Facebook, have been fined several times for failing to handle users' privacy and data carefully. However, there is another problem with the current revenue model of the internet: users are left with nothing from these online advertisements. Eich and Bondy therefore came up with the Brave browser, with the Basic Attention Token as an essential part. But what makes this system better, and why does it work with a cryptocurrency?
Basic Attention Token is intended to be the currency of a renewed online advertising market. According to the creators of BAT (and Brave), the current internet advertising model is outdated and not adapted enough to the interests of users. As a result, internet users get a lot of irrelevant advertisements, numerous pop-ups and endless repetition of the same advertisements. This is not only annoying for people online, but also an inefficient model for businesses. And there are many more problems with the current "online advertising" world.
Ads slow down devices, shorten battery life, and use numerous trackers that compromise users' privacy. Meanwhile, Google and Facebook are well on their way to gaining a monopoly in the advertising world: of every euro earned in online advertising, 73 cents goes to Google or Facebook. Because of this dominant position, they largely determine which advertisements can be seen and what the prices are.
This ensures that competition has to drop out, and the total income from advertising falls sharply. In addition, there are also more and more malware ads and fraud online, causing billions in losses to users. Trust in advertisements on the internet is therefore declining sharply. More than 600 million mobile devices use an ad-block service, with the result that a significant portion of the ad spend is for nothing. In short, enough reasons to consider an alternative.
The Brave browser
The Brave browser is designed to solve all those problems. First of all, it has strong ad blockers and blocks so-called “cross-site trackers”, which allow websites to store your data even if you have already left their website. You will therefore not see any pop-ups or annoying advertisements. Advertisements are brought to the attention of the user in a different way. Instead of bars or pop-ups on your screen, you will receive a notification with an advertisement. Brave wants to use new algorithms to offer advertisements that are better adapted to individual users. It obviously needs data for this: later you can read how Brave still guarantees the privacy of users in this process.
When a user clicks and views an ad, a reward is paid in BAT in return. The browser automatically keeps track of the balance of those rewards, which is added up until the end of the month. The browser home screen shows how much the expected reward is for the current month. When the month is over, those Brave Rewards are automatically credited to the built-in BAT wallet. With the BAT icon in the taskbar, users can easily see their balance. This wallet also has a number of functions that show how the inventors of Brave want to transform the internet revenue model.
Features of BAT in the Brave browser
Thus, Brave users can earn BAT tokens by watching ads. This reward is completely free for the user to spend. Someone can choose to send the earned BAT to a different wallet address, for example to safely store the tokens in a cold wallet. However, there is a more interesting function that turns the internet's earnings model upside down.
The inventors of the browser (and the token) have a vision for the internet of the future. According to them, it is a big problem that media, creators and artists cannot be paid directly by users. Within a short time, the internet has become the most important medium for billions of people. However, it is still free, with the exception of services such as Netflix and Spotify, where creators are paid directly, but with income from subscriptions. Eich and Bondy thought there should be another option: tipping. It allows users to send a reward to their favorite artist, Twitter channel, Youtube artist or website. With that income they can in turn do better research, pay for better productions or publish new music.
According to them, users are quite willing to pay for high-quality media content: this is evident from the success of Netflix, for example. The problem is that a user often also pays for products in which he or she is not interested. With Brave’s tipping system that problem is solved: you can contribute to a specific tweet or video, or a specific page on a website. In the future, Eich and Bondy believe, the Internet will look like this: Users pay a small fee for their content, and creators get direct revenue from it - no longer from cumbersome and tedious ad models. In this way BAT must become the digital currency for the online economy for the future: Attention to ads in exchange for BAT, BAT in exchange for internet content.
Privacy in Brave
Privacy and BRAVE
Finally: privacy. We discussed earlier that this is an important issue in today's online world. Because companies do everything they can to make money, user privacy often comes second. The more data, the more specific the pop-ups, the more income. In addition, all that data is stored in the form of cookies, which means that you reveal gigantic amounts of information to internet companies. Brave therefore has an advertising model with built-in privacy measures.
The browser collects data about the browsing behavior of a user, while anonymizing the identity of the user. It is therefore unknown to the browser who has which search profile. Nevertheless, advertisements can be offered that are close to the interests of the specific user. As mentioned, Brave also has new algorithms that should give Brave an advantage compared to other browsers. However, it must be said that the range of advertisements is still limited: many advertisers are still unfamiliar with the Brave and BAT model.
Hope for the future
I hope that in the future there will be a change in the number of users and advertisements within Brave and BAT because as I can estimate this is a win-win situation for all parties.
In the meantime, I continue browsing with Brave, and I also earn a little tokens with it in a way that is not annoying at all, not intrusive ... and besides that it pays off, I also think Brave is a nice browser that works well personal taste can be adjusted and you do not have to install a separate adblocker.
And like I said, every little bit helps… every little bit goes together in the end, and that definitely helps me achieve my personal goal.
Posted Using LeoFinance Beta