Brave, the web browser funded through an initial coin offering (ICO), has surpassed three million monthly active users and anticipates growing that number to five million by the end of the year.
The browser, created by Javascript creator and Mozilla co-founder Brendan Eich, announced the passage of this milestone on Thursday, highlighting the phenomenal growth that the browser has seen since last summer when it raised $36 million during the 30-second ICO for the platform’s Basic Attention Token (BAT).
Perhaps even more significantly, the Brave browser is now a top 10-app in the Google Play Store’s “free communication apps category” in 21 countries, including the U.S., Canada, France, South Korea, and Argentina.
More than 18,000 publishers and content creators (including CCN) have registered as verified publishers, enabling them to collect BAT donated by Brave users. Of these, the vast majority — 13,500 — are YouTube and Twitch streamers, likely owing to the fact that hosting platforms such as YouTube take significant cuts of shared ad revenue.
Last month, the privacy-centric Brave — which blocks ads and third-party trackers by default — added several new features to its desktop browser. First, the firm rolled out in-tab support for Tor during private browsing sessions, further protecting the security of users engaged in sensitive activities.
Additionally, the firm began testing the core value proposition for its cryptocurrency token: opt-in advertising that rewards users as well as publishers. When formally released, this feature will enable users to receive 70 percent of the gross revenue from ads, which will be native to the Brave browser rather than websites themselves. This revenue will be paid out to both users and publishers in BAT, which will be converted to local currency through a partnership with cryptocurrency trading platform Uphold.
But while Brave is rapidly expanding its mainstream user base, it could soon face competition for the attention of cryptocurrency enthusiasts. Earlier this week, CCN reported that Bitmain — likely the most valuable cryptocurrency company — had paid $50 million for a controlling stake in web browser Opera. Days later, the browser announced that it would become the first mainstream browser to introduce a native ethereum wallet and decentralized application (dApp) browser.
Featured image from Shutterstock.
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