What does Basic Attention Token, (BAT) mean?

The internet is dependent on advertising, no matter how you feel about them.

Both staff and content can be paid for by the revenue generated from selling advertising space on sites. Online businesses that do not have a strong advertising system would be unable to thrive.

But online advertising shares more with Mad Men than the Wild West. Advertising agencies pay high fees for very little return due to a complex supply chain.

In the meantime, hackers set up fake websites in order to make revenue from ads no one ever sees. Users are also constantly spammed while they surf the net.

Basic attention token can help publishers, advertisers and users. Let’s find out.

What does BAT mean?

BAT, which is a utility token was initially created to be part of Brave’s new digital advertising platform. The web browser blocks advertisements and protects personal information. It protects individuals’ identities but also compels users to pay attention. Its distributed ledger can provide accurate information about the location of adverts and their effectiveness. With this data, advertisers are able to plan better and create better marketing campaigns. It also has a token known as the BAT that is used to pay advertisers for their advertising space, and users to watch or click their ads.

Who is the inventor of BAT

Brave browser created BAT. San Francisco is home to the headquarters of BAT. The senior team comprises alumni from well-known tech companies such as Intel and Microsoft.

You didn’t know this?

Brendan Eich (founder of Brave) was also the co-creator and original author of JavaScript, a well-known programming language. The popular web browser Firefox was also created by him.

This is a short history.

  • January 2016: The Brave browser is launched.
  • September 2016, Brave unveils anonymous payments to users in order to compensate publishers
  • March 2017: Brave announces the Basic Attention Token.
  • May 2017: The public sale of BAT begins. November 2017 – Brave opens YouTube and offers the same model of digital advertising to its channels.
  • December 2017: Brave Browser reaches over a Million Active Monthly Users

Is there anything special?

  • Incentive – Users get BAT to reward them for viewing or listening advertisements. Improved browser experience Instead of a large number of random ads, users have the option to see a smaller amount of targeted ads. Less ads take up bandwidth and a faster page will load.

  • Privacy

    Brave Browser doesn’t collect any user data without their permission. BAT utilizes the ANONIZE algorithm, which withholds sensitive information from the general public. This allows advertisers to tailor ads and Brave can’t be used by Brave for users’ personal data.

    You didn’t know this?

    Brave’s BAT public sale raised $36m. It lasted only 30 seconds. The tokens that were sold to Brave at half price were bought by five people.

How does BAT get made?

Pre-mined Basic Attention Tokens (BAT) were available prior to 2017’s token sale. Token supply will be limited to 1.5 billion. One billion tokens were sold in the ICO. An additional 500 million BAT was kept as reserve currency for the growth of users and the development the platform.

Is BAT possible?

The majority of digital ads are viewed directly on the internet. Brave has a completely different approach. This is not the case with Brave. Online advertisements are blocked, and instead databases full of ads are downloaded onto users’ devices. It is built on the ETH blockchain. The anonymous internet history is recorded to create a picture about the user’s preferences. It determines which ads have the greatest user engagement. The advert’s duration is determined by the amount of time users spend watching or listening to them. Brave browser uses attention data and internet history to identify the most engaging adverts. These adverts are shown on user-visited websites.

How can BAT be used to your advantage?

Most tokens will be used for remuneration of publishers who have ad spaces. Advertisers have the option to pay publishers in Bitcoin, the amount being determined by user engagement. In return, users will be issued tokens of BAT. You can use these tokens to exchange them for premium content or services. Brave suggests that you might be able to access higher quality films and music.

The Future

Digital advertising as an industry will decide whether the Basic Attention Token is successful. These signs are promising. Brave began working closely with YouTube towards the end of last year. YouTube does not pay artists enough to be paid. Instead, many artists use the ledger in order to receive some kind of income. Industry players have criticized the platform. Some are concerned that Brave could have too much influence over digital advertising. Critics warn it will alter the amounts that various parties are paid. Others argue it gives publishers too little compared with existing models. But it is still in prototype form. It is possible to buy and sell BAT on exchanges but users are still unable to spend the tokens. The result is a very closed system. BAT’s platform will develop and provide real-world utility. The tokens will gain some value.