Wednesday, March 24, 2021

Brave browser and its BAT token now integrate the Binance Smart Chain ecosystem

 

Key facts:

Brave and Binance aim to bring cryptocurrencies to the general public.

The integration seeks to make DeFi easily usable by the mass market.

Basic Attention Token (BAT), the native token of the Brave web browser, is integrated into the Binance Smart Chain (BSC) platform ecosystem as WBAT.

The announcement was made through a statement published on March 19 on the exchange's blog. According to Binance writing, with this addition, browser users will have access to the ecosystem of decentralized finance (DeFi) products at BSC.

The press release also explains that Brave's browser wallet is currently compatible with Ethereum and BSC, through a change in its configuration, as occurs in wallets such as Metamask. But Brave plans to pre-configure support for Binance Smart Chain to be available later this year.

Adding a pre-configured wallet is expected to simplify the process. In this way, users will not need to use special applications, create new wallets or update settings in the Brave wallet, according to the statement.

The statement adds that BAT's compatibility with the Binance platform is possible in the form of wrapped. Now, the token to be executed in the BSC, responds to the acronym in WBAT. The wrapper is the process by which the tokens of one blockchain ecosystem can be represented in a completely different one. One of the most reported examples by CriptoNoticias is Wrapped Bitcoin (WBTC), which runs on Ethereum as a kind of representative bridge between the two networks.

In this regard, Brendan Eich, CEO and co-founder of Brave expressed the following:Our hope is that BAT and Brave will bring cryptocurrencies to the general public and make decentralized finance easy to use in the mass market.

According to the release, Brave currently has more than 25.4 million monthly active users and more than 1 million verified publishers. Among the most outstanding features of this browser is the fact that it allows the user to browse freely, blocking ads and trackers that seek to appropriate the netizen's information.

For his part, Xiaoguang Zhang, Ecosystem Coordinator at Binance, said:With this strategic integration between the Brave browser and Binance Smart Chain, we will allow cryptocurrency users to have access to DeFi and dApps on BSC and other blockchains, which would dramatically inspire the mass adoption of inclusive finance.

The exchange Binance provides a platform to trade more than 100 digital assets and also provides other financial services with cryptocurrencies.


The news about this integration does not seem to have had a positive influence on the price of BAT, as at the time of writing this note it is USD 1.08. This implies a decrease of 2% in the last 24 hours, when the volume traded was more than USD 447 million.

Binance Smart Chain outperformed Ethereum in transactions during February

Last month, the Brave Browser team updated their roadmap. Among the novelties, the incorporation of a new Ethereum wallet (compatible with BSC) stands out, as well as the development of a decentralized exchange (DEX).

With the addition of the Binance Smart Chain, Brave seems to listen to user requests. As reported by CriptoNoticias on March 4, 2021 Binance Smart Chain (BCS) had a higher volume and transactions and active unique wallets than Ethereum, in February 2021.

According to the report called Dapp Industry Report: Febraury 2021, published on the DappRadar website, the Binance blockchain would have superior capabilities compared to Ethereum, as well as an increase in the number and frequency of users.