Bravo Protocol | A Thoreau Analysis
Imagine the following scenario: You and three friends finish a physically exhilarating hike through Death Valley national park and you want to thank your tour guide with a nice tip as gratitude for his service. As you go to reach for your wallet you realize you have left it in the hotel and only have your phone on you, stranded with no cash.
If only there was a quick and anonymous way to tip the tour guide right from a phone….
That is why today I am bringing you the Bravo Protocol. The hiking scenario described above is exactly what led the founders of BRAVO to begin developing a mobile payment processor that respected the privacy of both parties seamlessly. The BRAVO Protocol is aiming to revolutionize payments by making paying from a phone easy and intuitive for all users- with their choice of a public transaction or going incognito and sending money anonymously.
BRAVO was founded in 2014, and made an appearance on Shark Tank last year in 2017 where the company secured a deal with sharks Mark Cuban and Lori Greiner. BRAVO already has a working and functional application in the Apple and Android app stores that deals with fiat transactions. You can see the platform for yourself at https://trybravo.com/ .
Right now while the BRAVO team is developing the Bravo Protocol, the fiat based application is currently live in beta testing and fully operational. The BRAVO ecosystem already handles millions of dollars worth fiat transactions for thousands of users. The BRAVO Protocol ICO begins Q4 of 2018 starting with a public pre-sale then eventually moving to a crowd sale. They also plans to have the initial wallet tested by the end of Q4 2018 and the first beta-net available to users.
The main use case that BRAVO is addressing is the ability to send or receive anonymous cryptocurrency payments powered by a scalable private blockchain. The hybrid blockchain that BRAVO implements is increasingly important because not only are you able to easily send anonymous transactions but BRAVO also handles any payment type including tipping, micro-payments, and macro-payments. The hybrid blockchain not only helps with scaling but also greatly improves security and transaction speed.
BRAVO is aiming to revolutionize mobile payment processing through the implementation of its Hybrid Blockchain. BRAVO’s hybrid blockchain employs both a public and private blockchain seamlessly together. The public blockchain is based on the Federated Byzantine Agreement (FBA) which ensures consensus even when there are members who are misbehaving on the network. Basing a blockchain on the Federated Byzantine Agreement has two main benefits: the first being that consensus is able to happen quicker than traditionally, and the trust is entirely decoupled from recourse ownership. In other words, the Federated Byzantine Agreement consensus algorithm is scalable and trustworthy. The private part of BRAVO’s blockchain is based on an anonymizing Proof-of-Stake algorithm. BRAVO indicated that it primarily chose a Proof-of-Stake algorithm because of security and scalability reasons due to the fact that Proof-of-Stake enables BRAVO to have faster transactions across its private network.
The ticker for the BRAVO token is “BVO” and it is an ERC-20 token built on the Etheruem blockchain. The hybrid blockchain is something very unique that BRAVO employs, and they do this through the use of BRAVO Private Coin (BVO-P). When the user wants to send an anonymous payment with their BVO tokens they can choose to send this in “incognito mode.” When they chose to send a transaction in incognito, the BVO tokens are converted to BVO-P and sent to an anonymizing pool before being broadcast to the network ensuring total anonymity. When the receiver gets notified of the transaction, the BVO-P tokens will already have been converted back to BVO and will appear in the other party’s wallet. The amazing benefit of the hybrid blockchain that BRAVO provides is the ability to anonymize transactions at the click of a button.
The BRAVO ecosystem goes much further than just person to person transactions. BRAVO’s blockchain is already planning on providing micro-merchant tools for artists and other freelancers, to help everyone easily accept cryptocurrency as payment for services. BRAVO is providing merchants with the ability to issue tickets for events on their fully auditable blockchain. The idea behind giving merchants easy tools to use and begin accepting cryptocurrency in their businesses is that they will essentially be using the blockchain and all the benefits of cryptocurrency while saving them time throughout their daily lives. BRAVO makes the process incredibly easy for new users by eliminating confusing addresses and private keys by giving users a username and password that is easily recoverable and authenticated.
It is clear that society is moving towards a cashless system at a rapid pace. Modern applications that enable you to send money require bank details, KYC, and have expensive transfer fees. BRAVO is aiming to be a modern mobile payments solution by providing a human-centric solution. BRAVO is built on the basis that if people are going to use cryptocurrency and blockchain it simply NEEDS to be user friendly. By building their blockchain platform with user experience in mind BRAVO is going to captivate a lot of new eyes. BRAVO (BVO) has the Thoreau seal of approval and you can find details regarding the website and crowd sale below.
Follow BRAVO Pay:
The latest Tweets from BRAVO Pay (@Bravo_Pay). Tip or Pay, changing the way we pay. Featured on ABC's Shark Tank…twitter.com
16.8k Followers, 426 Following, 1,107 Posts - See Instagram photos and videos from BRΛVO Pay (@bravo_pay)www.instagram.com
The latest Tweets from Altcoin Thoreau (@cvrbonbased). Monero Maximalist | @waldengvng | Half Man Half A.I. | Business…twitter.com