{"id":55554,"date":"2023-07-29T17:14:14","date_gmt":"2023-07-29T21:14:14","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=55554"},"modified":"2023-07-29T17:46:23","modified_gmt":"2023-07-29T21:46:23","slug":"basic-attention-token-to-implement-kyc-free-on-chain-payouts","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/basic-attention-token-to-implement-kyc-free-on-chain-payouts\/","title":{"rendered":"Basic Attention Token to Implement KYC-free on-chain Payouts"},"content":{"rendered":"\n

The platform would enable on-chain BAT rewards without Know-Your-Customer<\/a> (KYC), according to Basic Attention Token (BAT) founder Brendan Eich. <\/p>\n\n\n\n

\"Basic
Basic Attention Token to Implement KYC-free on-chain Payouts<\/figcaption><\/figure>\n\n\n\n

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.<\/p>\n\n\n\n

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. <\/p>\n\n\n\n

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.<\/p>\n\n\n\n

Brendan stated they are comparing two options: Ethereum layer-2 <\/a>alternatives like Arbitrum and Optimism, which offer lower transaction fees without sacrificing security, and Solana, noted for its scalability and cheap transaction costs.<\/p>\n\n\n\n

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. <\/p>\n\n\n\n

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.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

Major cryptocurrency projects like Binance and Coinbase<\/a> have been the target of legal actions, and other protocols, like Monero, have experienced limitations on exchanges, notably in the US.<\/p>\n\n\n\n

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.”<\/p>\n\n\n\n

\n

A preview of Pay with $BAT\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> from @Brave<\/use><\/svg><\/span><\/a> Ads Self-Serve. \ud83d\udd25\ud83e\udd81\ud83e\udd87

– Work in progress; not yet integrated, but close.
– Will support $BAT\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> payments from Ethereum, EVMs & @solana<\/use><\/svg><\/span><\/a>
– As mentioned in our Self-Serve announcement, discounts to customers paying in $BAT\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> pic.twitter.com\/2IUU96p4Rf<\/use><\/svg><\/span><\/a><\/p>— Luk\u039e Mulks \ud83e\udd81\u27c1\u25ce\u27c1 (@lukemulks) June 29, 2023<\/use><\/svg><\/span><\/a><\/blockquote>

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<\/use><\/svg><\/span><\/a> will smoothly integrate the Pay with BAT feature, presently under development.<\/p>\n\n\n\n

Once in place, advertisers may easily fund their advertising with Solana, BAT from Ethereum, and blockchains compatible with Ethereum.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 […]<\/p>\n","protected":false},"author":43,"featured_media":55556,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[15504,961],"class_list":["post-55554","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-basic-attention-token","tag-kyc"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/07\/croc_1690662546335.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/55554","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=55554"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/55554\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/55556"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=55554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=55554"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=55554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}