BAT Jumps 10% as Brave Releases Chromium-Based Browser

Francisco Memoria

The Basic Attention Token (BAT) has recently seen its price jump about 10% after Brave, a browser devised by JavaScript creator Brendan Eich, launched a new Chromium-based version with support for Chrome extensions.

The Brave browser is a privacy-oriented one, that has been downloaded over 10 million times from Google’s Play store and has a built-in ad blocker. It also blocks third-party trackers by default and, as such, uses the BAT token to reward publishers for their content.

According to CryptoCompare data the token saw its price surge from $0.21 to a high of over $0.245, before it started to correct and dropped down to about $0.232. In the last 24-hour period, it’s up by over 10%.

Brave's BAT token surged

The jump came shortly after Brave launched a new stable version of its desktop browser based on Chromium, which the organization claims is 22% faster than the previous version, an improvement that “can represent savings of 8 to 12 seconds on certain sites.”

The new version added support for Google Chrome extensions, as well as a few advantages including a BAT token airdrop for every user who downloads it. Other features still to come include cross-platform synchronization, as well as a release of its Brave Rewards program, which is currently in beta.

The Brave Rewards program has seen public trials get launched and a few details released. Reportedly, users who decide to see ads will receive 70% of the revenue from ads “delivered directly to the user in a separate ad tab,” and 15% from ads that appear on websites, called “publisher ads,” in the form of BAT.

Per the chief executive of the privacy-centric browser, users can make as much as $70 in the year of 2019 opting in to view ads. Its advantages have notably been helping Brave gain popularity, so much so it went from 4 million monthly active users in early September to 4.6 million in early October.

BAT holders may have other reasons to remain bullish. Back in July San Francisco-based cryptocurrency exchange Coinbase revealed it was considering several cryptoassets, one of them being BAT. Another cryptoasset it was considering, ZRX, has been listed.

CENTRE Blacklists USDC Address in Response to Law Enforcement Request

The organization that issues the dollar-pegged USDC stablecoin on the Ethereum blockchain, the CENTRE Consortium, has backlisted an address with $100,000 worth of USDC tokens in it in response to a law enforcement request.

The move was confirmed by Circle spokesperson Josh Hawkins, who said he could not provide any more details about the blacklisting, which seems to have occurred in mid-June. The company shared a statement with CoinDesk that reads:

Centre can confirm it blacklisted an address in response to a request from law enforcement. While we cannot comment on the specifics of law enforcement requests, Centre complies with binding court orders that have appropriate jurisdiction over the organization.

On the popular Ethereum blockchain explorer Etherscan, it’s possible to see the transaction in which CENTRE called a “blacklist (address investor)” function on the address, freezing the tokens on it. Who owns the address isn’t clear, but as it has been blacklisted its owner can no longer send or receive USDC on-chain.

On Circle’s website, the firm notes that the USDC on a blacklisted address may be “wholly and permanently unrecoverable.” While the USDC stablecoin runs on an open blockchain, CENTRE has the power to sanction specific accounts.

An address may reportedly be blacklisted under two circumstances: one occurs when there’s a potential security breach or a threat to the network itself. The other occurs to “comply with a law, regulation or legal order from a duly recognized U.S. authorized authority, U.S. court of competent jurisdiction or other governmental authority with jurisdiction over CENTRE.”

In both cases, CoinDesk adds, most of CENTRE’s Board of Managers, which includes Circle co-founder and CEO Jeremy Allaire and Coinbase’s chief financial officer Alesia Haas, have to vote to approve the blacklisting.

The move has set the cryptocurrency community abuzz, as most are claiming fiat-currency backed stablecoins are similar to PayPal on the blockchain, as the firms behind them have to work with regulators.

It’s worth noting that only CENTRE can blacklist addresses, and normally the funds are under user control. This appears to be the first time a USDC address has been blacklisted.

Featured image via Pixabay.