When BAT enjoyed a recent surge, everyone wanted to understand what had caused it. The reality was that there were some developments in the DeFi space — namely, in the Compound project. They released their COMP token, which garnered a return of over 230% during week one of its trading.
Compound rewards users and lets them borrow tokens by using a different type of token as collateral. The exciting part is that anyone that does this can still get interest on their tokens in return for helping Compound enjoy excellent liquidity.
This links back to BAT as it has a high interest rate, meaning that anyone that wanted to access COMP could make up to 30% in interest by using their BAT as collateral.
What Is Behind BAT?
It is a type of digital advertising token that has been built on the Ethereum blockchain. Ethereum is a hugely popular protocol that powers the entire ecosystem of tokens like Maker, OmiseGo, GoChain, etc. So, you can easily convert GO to BAT, for example, on the exchange platform that supports the Ethereum-based tokens.
The entire purpose of BAT is to help advertisers, users, and publishers to connect through an ad exchange marketplace that is decentralized and removes unnecessary expenditures. That way, everyone gets the best financial results.
You can use BAT to enjoy the following:
- Getting rewards for using, advertising and publishing;
- Getting paid when you give ads your attention;
- Getting a percentage of the ad revenue if you are a publisher;
- Getting paid for your content if you are an advertiser.
Interestingly, by using Brave (BAT‘s browser), you will find it easy to manage your BAT tokens because they are the native currency. With the Brave browser, anyone new to BAT will be able to get going in no time at all.
Why BAT Is So Popular Nowadays
BAT enjoys a popularity spike because it focuses on offering privacy. By using the Brave browser, people can send tips to their favorite content creators, while audiences can earn BAT by viewing ads.
How Good Is Brave?
When you start using Brave, you will notice that it monitors what you are viewing and pays publishers according to what you have viewed. It uses blockchain to track everything, so you can be sure that there will be no breach.
In addition to the high-level security Brave offers, it also measures the Attention Value of every advert. To do this, it takes into account the time the ad is being viewed, and the amount of ad pixels that are visible in comparison to the content. The system then learns about what the user is interested in, and shows them relevant ads.
Ad matching gets completed locally so that users can enjoy a streamlined experience that offers better battery life and less data usage. The result of this is a less affected content flow and high-quality browsing opportunities.
Now, it’s easy to see why so many people believe that BAT will achieve mass adoption, and increase its overall value as time progresses. However, it is rivalled by other prominent projects — namely, GoChain. Let’s take a look at this one as well and compare the two.
About GoChain Currency
GoChain is a type of public blockchain that allows users to pay for a wide range of network services. Users submit their transactions to GoChain, which then uses them to provide compensation to the networks that have offered services to the user.
When you want to purchase GoChain’s GO, you can choose from a range of exchanges where you can make your purchase and complete your transaction for the volume of GO that you require. Godex is a popular exchange that caters well for both new crypto users and more experienced ones. The buying process is straightforward, making it easy for you to exchange the crypto tokens that you need.
GoChain makes use of a Proof of Reputation model to create a network that offers high levels of security and low instances of problems. Anyone using the GoChain blockchain must have a good reputation, as any attempts to cheat will result in consequences such as removal.
The Differences Between GO and BAT
When it comes to the differences between GO and BAT, we have outlined the following.
Basic Attention Token
BAT defines itself as a programmable network that has a large and diverse user community. BAT is a native cryptocurrency of the Basic Attention Token blockchain. This digital currency can be used to make transfers across the world on an instantaneous basis. It also enjoys being used across a few dApps that have been built on the blockchain. BAT has the potential to become widely adopted in the advertising industry, and many users now enjoy the high interest they can earn when using it.
GoChain is a household name when it comes to using cryptocurrencies at the enterprise level. It brings trust and transparency to businesses that rely on network services. By its own accord, it has defined itself as a mainstream digital currency that is much loved by organizations. Depending on your requirements, it provides opportunities to use either public or private blockchain.
Summing up, the two cryptocurrencies target different audiences, and may well co-exist in the space. And whether BAT will preserve its status as the most used DeFi token remains to be seen.