The Brave Little Browser: A Blockchain Web Browser that is not DeFi or NFT related
The Brave Browser is the first Web3 Blockchain use case that I'm actually benefiting from today in a non DeFi Reward way. Finally, some non Cryptocurrency products!
TL;DR: How would a crypto web browser even work? The folks at Brave have made a product that does just that.
Hi Curious Readers of Professional Curiosity!
I’m still on the hunt for blockchain uses beyond what feels like ponzi scheme, or is DeFi, or is NFT related.
Happy to report that I have finally found it. A use case that doesn’t involve cryptocurrency to make more cryptocurrency. As a bonus, it is something you can benefit today on.
Today we’re talking about a Blockchain Based Web Browser called Brave. It was recommended to me by Mike W, and it’s now my new daily driver as a web browser replacing Google Chrome and Firefox on Desktop, as well as Safari and Firefox on mobile.
As always, you’ll find TL;DR: and graphics at the beginning of each section.
Cheers!
In Case You Missed It
Sections You Can Skim To
What’s the hoopla on Brave Browser?
What’s the Blockchain Part of this Browser?
What’s Sync Chain?
What’s the Blockchain Powered Revenue Sharing Model behind Brave?
The History of the Company Behind Brave Browser
A Big Ass note on the Brave Co-Founder
My Thoughts on Brave
What’s the hoopla on Brave Browser?
TL;DR: It’s the first closer to mainstream blockchain web browser that can replace your work browser, and daily browser.
Things I Like
Less Intensive: It takes significantly less computing resources to be on a video call and actively sharing your screen with someone than it does to have Google Chrome open and idling.
Less needed power = longer battery life
Less computing power needed = A lot less lags when you have too many tabs open.
Very Accessible Video Chat: Video chat is built in to the browser, and mimics Google Meets; the invited users don’t need to download Brave. You don’t even need to download Brave to participate in a Brave Video Chat. Share a link and go. You get convenience for having Brave browser though.
It has no ads. Not on on desktop or on mobile. You can watch Youtube without ads. Ads are opt-in, and you get Brave’s cryptocurrency for doing it. It also actively reduces what sites know of you including language fingerprinting, cross-site cookies, aggressive tracker blocking, and non-amp pages.
Lower Data Usage: It saves data and bandwidth - which is great on mobile devices and when traveling. That comes mostly from the ad disabling.
Blockchain-Based Sync: It can sync across your devices using an anonymous blockchain address without needing your name or email or any other personally identifying information.
Chrome Based: All your extensions you love from Chrome work natively on Brave. Yay chromium. Even Microsoft’s Edge is chromium based.
Has Third Party Login Convenience: Allows for Login with Google / Facebook services to work under an exception model.
Conclusion: Great browser to install especially on a work device or a low-bandwidth mobile device. If you like the sound of this, here’s a link to go download it yourself.
What’s the Blockchain Part of this Browser?
TL;DR: Blockchain used for anonymous identity account management, and also for exploring a new revenue sharing model between creators, ad publishers, and you the end user.
Fundamentally, there are two blockchain powered processes that make the Brave browser function.
Sync Chain, which is used for anonymous identity account management
Blockchain Powered Revenue Sharing, which is used to explore a new business model that serves as an alternate to traditional internet advertising
It’s rare for me to find successful blockchain-powered business models that are not DeFi or Trading related. The Brave Browser uses the blockchain for anonymous profile management which makes for light-weight browsing sessions across my computer and phone, and it’s using blockchain to disrupt the traditional online advertising model.
What’s Sync Chain?
TL;DR: An alternate to an email login, sync chain gives you a blockchain address and key to store your preferences across devices that you opt-in to.
If you’d like to keep your preferences such as bookmarks, extensions, and any crypto balances and rewards, you can do so in the browser through the Sync Chain.
The Sync Chain is a blockchain address that is created for you for free. It mimics the the behaviors of a traditional blockchain wallet, giving you a private-key in the form of a 24 word key to access an address. This key is inputted across all devices that you want to sync together. It will not prompt you for a name, an address, or an email. You can begin syncing based on knowing a 24 word phrase.
This blockchain address functions as your user profile account and can contain what you opt-in to sync. There’s a lot of options, and by default they are toggled off. Brave browser even allows you to create a crypto wallet and that will follow your sync chain around should you want it to.
This is a great non crypto-currency use case of Blockchain in that I can create accounts that are personalized to my preference without disclosing any form of contact information including my name or email.
A Spark of Possibility
Here’s why I think that’s significant: A majority of the internet is built on the process of creating an account and connecting it to a name and your email to store your preferences, to save your browsing session, or to use the fancy features.
Your browser? Probably wants you to create an account. To use an application? Need to create an account. To keep up to day? Need to disclose your account.
A lot of the internet is based on personal identity, of which often gets leaked through data breaches or terrible business practices.
So there’s that. Finally being able to do things without relying on email or name. Just some abstract crypto-based key words.
What’s the Blockchain Powered Revenue Sharing Model behind Brave?
TL;DR: New revenue model based on the idea: Pay me to watch ads. It shares payments between advertisers, users, and content creators
This next process is cryptocurrency focused, but surprisingly it isn’t based on DeFi Yields, Staking, or one-sided rewards. The entire Brave Revenue Model is based on this mantra as an end user (that’s you!):
Pay me to watch ads.
The Brave Revenue Model is simplistic from what I have encountered so far::
Create Content: A content creator produces content online on Youtube or on a blog.
Rent Ad Space: A Publisher, or Advertiser, can buy ad space through a smart contract arrangement with a content creator that will only pay out for each successful click the ad receives.
Pay when Watched: The end user (you) who both opts-in to watch ads, and actually watches an ad, gets paid for the attention you give to an ad. The funds come from the publisher/advertiser.
Brave, the company, also gets paid.
Note: I should do a separate piece focusing on the performance of this business model.
Funding Model:
70% of the advertising funds go to the content creator for renting ad space.
15% goes to the end user for watching it.
15% goes to Brave
100% is funded by the advertiser, and is only paid on successful ad engagement.
You as an end user can contribute or tip specific creators as you’d like.
This model works decently well for these two specific reasons:
The cost of operating (for Brave) is basically zero. Blockchain has an advantage in doing multi-party payments consistently, with as little human energy as possible involved, making for small and sporadic payments that amount to a few cents a possibility that doesn’t cost Brave anything to execute in perpetuality.
For the financial professionals out there: Blockchain makes Joint-Venture and Partnership Business Models incredibly easy and not-manual to operate. You know how messy those are.
Basic Attention Ads: Ads are only provided to you based on Brave’s curated partner ads, which are based on what you’ve been paying attention to during your web browsing, which is all stored on your device.
There is no communication with a cloud or a third party data service outside of your phone, which entails for less band width used, and only ads that are a direct by product of what you have been engaging with to be shown to you. Currently, ads on the internet can be based on the predicted demographic associated with your Google Accounts or by your geography, or even by your cross app activity.
By the way, if you are in it for the crypto - you won’t be earning anything significant as an end user.
The History of the Company Behind Brave Browser
TL;DR: Privacy First. Also a $35m ICO.
Founded by the creator of JaveScript and former CEO of Mozilla Corporation (Firefox Browser), Brendan Eich. In 2014, Eich brought on former Mozilla colleague Brian Bondy as Co-Founder, and together they built a browser based on the following principles:
Users shouldn’t be tracked without consent
Remove trackers and ads that slow down page loading times
Website publishers paid in cryptocurrency for revenue for blocked ads
Users should receive a cut of ad revenue in return for a user’s attention.
Through 600 iterations later, the company released a prototype. Well, several prototypes. Its success with the prototype and its user based enabled:
Seed funding of $4.5m in 2016
The Brave Initial Coin Offering of $35m in 2017 (like an IPO)
Rumored Series A for $30m, but this fell apart it seems or is undisclosed.
There have been many product pivots, a lot of them are focused on the revenue sharing model and changing the incentive rates over time.
A Big Ass note on the Brave Co-Founder
TL;DR: Brendan Eich made anti-gay contributions in 2008 for $1k in California.
The Co-founder of Brave, Brendan Eich, has a controversial history that is probably a defining reason as to why he would go on to create a privacy-first web browser.
In 1998, Brendan Eich co-founded Mozzila Project with Mitchell Baker (she is awesome); the project is ultimately known as Firefox.He was the CTO from 1998 to 2014.
In 2012 the LA Times reported that Brendan Eich made a $1k contribution to anti-gay campaign related to the California Prop 8.
In March 24, 2014, Brendan Eich was named CEO of Firefox.
3 board members immediately resigned from FirefoxMarch 25, 2014 - Several media posts were dug up showing Brendan Eich’s political contributions and his views. For the next few days Firefox employees took to Twitter to express their disappointment and their positions. OkCupid launched a petition for users to boycot Mozzila, as the outrage continued.
April 3 - Brendan Eich resigns “after gay marriage storm”, 10 days after being appointed. He is replaced by co-founder Mitchell Baker.
What I take away is “dude I thought that was private”. It wasn’t. So he went and made a browser so that “it can be private”. If privacy is your thing, this might be the browser for you.
Closing Comments
TL;DR: Privacy, it’s great. The founder behind it, not so great ethically. But still technologically great.
My Thoughts on Brave:
I hate my web browser choices: It’s either incredibly invasive, incredibly subpar, or it’s Brave with an controversial founder. That said, Brave is technologically superior for me at this time.
I don’t care about cryptocurrency rewards: Thus, I view the entire Brave Crypto-based incentives they are offering as simple user acquisition promotions. I do enjoy ad-free browsing, including mobile.
It does pose a question at how profitable can Brave be if all users choose to not opt-in to any advertising-based features. Will publishers pay creators even more money to get a non-ad watching user? Perhaps.
There’s a feature in the Brave browser called auto-contribute that will automatically use your crypto-rewards to support publishers and content creators based on how much attention you give them. You can also tip.Cashing out Your Crypto on Brave is Ironic: If you want to cash out any earned Basic Attention Token rewards (BAT), you have to disclose your identity to either Gemini or Uphold before you can transfer your crypto out and cash out. I suppose that’s one way to get around the “We don’t have your personal information” part. Just let someone else do it; though the institutions in question have higher than normal regulatory scrutiny to keep user information private.
Use the Blockchain Based Browser to have Privacy online.