Earlier this month, Brave Browser released some of their growth statistics, and things are looking very solid for the privacy-based browser.
Upon releasing the new version of their browser, Brave 1.0, they were able to expand their monthly active users to 10.4 million from the 5.5 million they were at in 2018. This shows nearly a doubling in user base over the last year and is a sign that users are starting to prioritize privacy at an increasing rate.
Brave was founded in 2015 by Brendan Eich, one of the co-founders of Mozilla. There are many more features expected to be released in the future, but these have as of yet remained a mystery. One thing is for sure – with $35 million raised nearly instantly during the ICO in 2017, there is a massive opportunity here.
Brave’s Big Value Proposition
Brave comes with opt-in blockchain functionality and the option to use its proprietary token BAT (Basic Attention Token) to create a market for attention. The basic mechanics of the market allow for users, advertisers, and content creators to transact in terms of attention for watching an ad or creating the content that attracted the user in the first place.
Although BAT is ranked as 32nd in terms of market capitalization ($247 million), its attachment to Brave Browser grants it a higher place in technologists’ minds than its market value currently indicates. For example, it was one of the first cryptocurrencies to be featured in Coinbase’s Earn program.
Being bullish on privacy is an interesting position to be in right now, because many people will think you are being crazy or paranoid, but the above figures show that there is a slow shift happening in the zeitgeist. People are starting to care more about this aspect of their lives as they realize that not all the Silicon Valley companies are acting in their best interests.
Privacy is on the Rise
Brave Browser is well-known in tech circles and slowly gaining acceptance in other communities as the value of privacy increases and users begin to change their perspectives. Before last year, caring about privacy was viewed as more of a “tinfoil hat” phenomenon than anything. But with the Cambridge Analytica scandal and other misdoings by Facebook, users have become more mistrustful of big Silicon Valley companies.
This positions protocols like BAT to do very well in the future. Additionally, it creates a debate about how much privacy is too much privacy as lawmakers start to realize that although Bitcoin is not entirely private, Zcash and Monero are.