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3 Blockchain Breakthroughs You Should Know About

In this video Joe Scott outlines the Brave browser and “Basic Attention Token” (BAT), which is an open-source, decentralized ad exchange platform based on Ethereum.

The Chainlink network is also discussed, which provides reliable tamper-proof inputs and outputs for complex smart contracts on any blockchain. Chainlink’s decentralized oracle network provides the same security guarantees as smart contracts themselves. By allowing multiple Chainlinks to evaluate the same data before it becomes a trigger, we eliminate any one point of failure and maintain the overall value of a smart contract that is highly secure, reliable, and trustworthy.

It also discusses The Lightning Network, which is a “Layer 2” payment protocol that operates on top of a blockchain-based cryptocurrency (like Bitcoin). It enables fast transactions between participating nodes and has been touted as a solution to the Bitcoin scalability problem. It features a peer-to-peer system for making micropayments of cryptocurrency through a network of bidirectional payment channels without delegating custody of funds.

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What is the Basic Attention Token?

Developed by Brendan Eich, the Basic Attention Token is a project that aims to make the online advertising space better for everyone.

The Basic Attention Token (BAT) is a digital advertising token which is built on the Ethereum blockchain. The purpose of BAT is to create an ad exchange marketplace which will connect advertisers, publishers and users in a decentralized manner so as to monetize user attention and remove all the other needless expenditure related to ad networks.

In brief, users get paid to provide their attention to ads. The system has to be fair to all the participants: users, advertisers and content publishers.

BAT works in the Brave browser which gets rid of all ads, but if you turn them on, you get paid for watching ads.