Under you discover a not very encouraging evaluation of BAT by a Crypto VC.
I wish to hear the Courageous’s staff opinion about it.
“BAT is an successfully stateless protocol. The core protocol itself doesn’t retailer any state concerning the community apart from the account balances of BAT house owners. BAT is a proprietary fee forex, which is able to if not redesigned in the end be topic to the [velocity problem](https://capital.us16.list-manage.com/track/click?u=1fa9845cf3e8925863af2c41e&id=4a29248072&e=3fd471a95c).
Though the BAT protocol is successfully stateless within the Ethereum community, it’s not stateless outdoors of the Ethereum community. That’s, the [Brave browser](https://capital.us16.list-manage.com/track/click?u=1fa9845cf3e8925863af2c41e&id=c467bc8b90&e=3fd471a95c), which has greater than 5M month-to-month energetic customers, solely helps BAT, and the Courageous staff is economically incentivized to not change this as a result of they personal a number of BAT. Because the variety of Courageous customers grows, the extra-protocol state of BAT grows. This extra-protocol state is un-forkable, so BAT can’t be forked out.
Courageous is an fascinating case research. On an summary foundation, BAT shouldn’t seize any worth. Then again, BAT advantages from a big exogenous effort of the Courageous staff. Absent adjustments within the token mechanics, we don’t anticipate BAT will seize worth in the long term, however the existence of this extra-protocol state does justify some worth, not less than for now”.