The platform would enable on-chain BAT rewards without Know-Your-Customer (KYC), according to Basic Attention Token (BAT) founder Brendan Eich.
He continues by saying that this advancement fits within BAT’s long-term vision, which intends to simplify rewards for Brave browser users while protecting their privacy.
On-chain payouts are now available, which is a huge development for BAT. Users can take advantage of the convenience of getting BAT rewards without divulging their identity.
In turn, this might improve user experience. After the debut of Worldcoin, optimism overtakes Arbitrum in daily transactions. The best system for on-chain rewards is still being debated, though.
Brendan stated they are comparing two options: Ethereum layer-2 alternatives like Arbitrum and Optimism, which offer lower transaction fees without sacrificing security, and Solana, noted for its scalability and cheap transaction costs.
However, there has been a range of responses from the public to the statement. A few customers are excited about the possibility of KYC-free BAT incentives and value the focus on privacy.
On the other side, some voice concerns and ask for guarantees that BAT will carry out this strategy. Discussions on Reddit have brought up Brendan’s prior promises to conclude agreements with a new custodial partner more than a year ago, and no updates have been given since then.
Others believe that Brave’s growth has stagnated recently. Concerns have been raised concerning Brave’s capacity to adhere to stringent rules, particularly those about KYC. With increased regulations and a greater need for KYC in cryptocurrency, many are interested in how Brave will tackle these difficulties.
Major cryptocurrency projects like Binance and Coinbase have been the target of legal actions, and other protocols, like Monero, have experienced limitations on exchanges, notably in the US.
The team recently announced that the self-service advertising platform Brave Ads Self-Serve, which serves businesses and people, is preparing to launch a new feature called “Pay with BAT.”
Advertisers will be able to fund their ad campaigns using BAT, the ecosystem’s native currency, with the help of this impending update. Shortly, Brave Ads Self-Serve will smoothly integrate the Pay with BAT feature, presently under development.
Once in place, advertisers may easily fund their advertising with Solana, BAT from Ethereum, and blockchains compatible with Ethereum.
