In a recent announcement, Brave Browser the commencement of its initial rollout for self-custody Basic Attention Token with Solana. However, now the popular internet browser allows BAT transfers to self-custody Solana wallets, meanwhile, the team of Brave Browser hasn’t excluded other blockchain integrations.
Brave Browser Introduces On-Chain Solana Payments
Brave, the firm behind the privacy-focused Brave browser is introducing on-chain SOL payments with its longstanding Brave Rewards program, the company announced on the platform X (formerly Twitter).
Brave Rewards is officially going on-chain with @Solana! ⛓️🎉
Starting today, select users will have the option to receive their monthly $BAT rewards to a Solana address they own. Details in thread 👇 pic.twitter.com/1bjPGXn3yf
— Brave Software (@brave) February 22, 2024
The feature of on-chain SOL will allow Brave browser users to move BAT tokens from their local machines to a self-custody SOL wallet, without any engagement with a centralized exchange. Regarding the reason behind choosing Solana, Brave stated, “We selected Solana as the optimal network for the debut of on-chain Brave Rewards considering its rapid transaction speed and minimal fees, which aid in reducing the expenses tied to pay-out BAT earnings to hundreds of thousands of users,” Brave said in the declaration.
Broadened Utility with Solana
Brave mentioned that the new Solana integration will allow users to earn and utilize BAT on-chain for direct contributions to Brave creators, exchanging tokens in the Brave Wallet, buying SOL domains from Bonfida, earning fees from Orca liquidity pools, and minting or purchasing NFTs with SPL-BAT.
Exploring Blockchain Options
Even though Brave is utilizing Solana for its new Brave Rewards transfer functionality, the rewards program director, Christopher Nguyen, mentioned the company is not dismissing other blockchains like Ethereum.
“This innovative method of distributing BAT eliminates numerous obstacles everyday individuals encounter when entering Web3,” Brave stated. “There are no withdrawal charges or restrictions since the Solana wallet is entirely owned and managed by the user. Users can earn and receive BAT directly on-chain, and utilize it on-chain as they see fit.”
Brave Browser & BAT Token
The browser enables users to block trackers, advertisements, and scripts. Brave Browser also provides users with the choice to opt-in to specific advertising in return for its native token, the Basic Attention Token, or BAT. The Basic Attention Token (BAT) is a digital currency integrated into the Brave browser, and it’s a way of increasing the efficiency and convenience of digital advertising and a token that serves for interaction between publishers, users, and advertisers. It is based on the Ethereum blockchain.
Using the BAT token, you can pay for advertising and get the attention of users on the site. The usefulness of a token is determined by how focused people are on the content. However, The BAT payment system protects and rewards the user, while providing advertisers with higher conversions and publishers with higher profitability. If it is possible to solve some of the problems of monetization, then this method can become an element of modern web standards.
Integration of Solana in Brave Wallet
In May 2022, the 1.39 update introduced support for the Solana Blockchain, encompassing SOL and SPL tokens, to the Brave browser. Before the self-custody feature becomes accessible to the general public, Brave mentioned the initial rollout of the Solana feature would be invite-only to eligible users.
Last November, Brave announced their generative AI “LEO AI,” which is integrated into the Brave Browser. Like other generative AI models like OpenAI’s ChatGPT, Anthropic’s Claude, and Google’s Gemini, LEO comes with a disclaimer that accuracy is not guaranteed and may provide inaccurate, misleading, or false information.
