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Why Basic Attention Token Jumped 20% Over the Past Week

By Joe Tenebruso – Nov 13, 2021 at 3:30PM

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A partnership with another popular cryptocurrency could be a game-changer.

What happened

Basic Attention Token (BAT -4.89%) climbed roughly 20% this week, according to S&P Global Market Intelligence, following news of the Brave browser's integration with Solana (SOL -2.83%)

So what

Brave is a privacy-oriented browser with a blockchain-powered digital advertising platform. Users can earn Basic Attention Tokens by watching ads that don't collect their personal information, which they can then use to support online publishers. 

Brave's browser has proved popular among privacy-focused individuals, crypto enthusiasts, and online content creators. More than 42 million monthly active users and 1.3 million verified publishers have already joined Brave's platform.

A rising cryptocurrency price chart.

Basic Attention Token's price is up sharply in recent days. Image source: Getty Images.

Brave will now work with Solana Labs to integrate the Solana blockchain into its browser. Solana will serve as Brave's default solution for decentralized applications (dApps).

"With more and more users and creators requiring tools for fast and affordable access to the decentralized Web, this integration will seamlessly pave the way for the next billion crypto users to harness applications and tokens," Brave CEO Brendan Eich said in a press release. 

Now what

Solana's network is fast. It can process more than 50,000 transactions per second, placing it on a level that's comparable to that of payment processing titan Visa. And while other blockchain networks, such as Ethereum, have become bogged down with slower transaction speeds and corresponding higher transaction costs, Solana's fees can be as low as $0.001 per transaction. 

Unsurprisingly, Solana's network is expanding at a torrid rate. "Solana is also the fastest-growing ecosystem, and the integration of Solana into the Brave browser is a direct result of user and developer demand," Brave said. 

Moreover, Solana Labs CEO Anatoly Yakovenko sees much more growth ahead for the two high-potential crypto projects.

"Deep integration with browsers is key to helping dApps build the best Web experiences," Yakovenko said. "Brave's announcement of Solana wallet support across all versions of their browsers is an important step to onboard the next billion users to Solana."

Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Ethereum and Visa. The Motley Fool has a disclosure policy.

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