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What is Basic Attention Token?
Basic Attention Token (BAT for short) is the native token of the Brave web browser. BAT is based on another cryptocurrency, which is Ethereum. For its operation, it uses the ETH blockchain and a special web browser. The Basic Attention Token was launched in 2017 and serves as a reward in the advertising process that I am about to tell you about.
Who created the Basic Attention Token?
Basic Attention Token - what was it for?
Blockchain and cryptocurrencies are constantly developing, and consequently, many companies are looking for newer and newer possibilities of using these technologies. As mentioned before, BAT acts as a reward in the advertising process. The fundamental assumption of the Basic Attention Token is to improve the way of advertising in the times of digitization. According to the creators of BAT, the modern Internet user is flooded with various types of advertising, and worst of all, he is more and more exposed to aggressive and malicious software. The idea behind the Brave browser is to fairly reward users for their time and attention to peek an ad, provide publishers with a new source of revenue, and at the same time provide advertisers with more revenue (which must cover their advertising expenses). What's more,
Brave and BAT - how does it work?
In its operation, Brave uses blockchain technology, thanks to which it can safely and anonymously track the attention (the level of mental involvement in the displayed advertisement) of users. As reported by the creators of the cryptocurrency, the attention value is calculated based on the incremental duration and displayed pixels proportionally to the relevant content, before directly interacting with the ad. Surely you are wondering if collecting data in this way is 100% safe. Brendan Eich and Brian Bondy (the creators of BAT) point out that both the data about the user and the data resulting from his tracking are stored only on the user's device, which ensures anonymity and privacy. Companies interested in running a campaign with Brave must pay the entire advertising budget in BAT tokens. From this pool, Brave charges a small fee (commission), and the rest is distributed to publishers and users. Publishers who have created content that grabs users' attention will be rewarded. The users who will receive Basic Attention Tokens for watching the advertisements, which can then be exchanged for various services on the BAT platform, will also be rewarded. By using machine learning algorithms, the browser will be able to match ads to users according to their interests, which will result in fewer irrelevant ads. who will receive Basic Attention Tokens for watching advertisements, which they will be able to exchange later for various services on the BAT platform. By using machine learning algorithms, the browser will be able to match ads to users according to their interests, which will result in fewer irrelevant ads. who will receive Basic Attention Tokens for watching advertisements, which they will be able to exchange later for various services on the BAT platform. By using machine learning algorithms, the browser will be able to match ads to users according to their interests, which will result in fewer irrelevant ads.
Basic Attention Token - numbers
Finally, a few figures:
- a maximum of 1.5 billion BAT tokens will be in circulation;
- 1 billion tokens are for sale;
- 366 million Basic Attention Tokens are reserved for remuneration for users and creators in the future;
- 134 million are intended for the development of the platform.
What Makes Basic Attention Token Unique?
- Basic Attention Token was initially designed to be a payment token for advertising campaigns, but starting in November 2020 advertisers will be required to commit to a monthly minimum of $ 2,500 to launch their campaigns.
- This advertising budget must be paid entirely in Basic Attention Tokens, which advertisers can acquire from a variety of third-party exchange platforms. Out of this, Brave takes a small commission, and the rest is distributed to publishers and users.
Basic Attention Token and Brave Browser
One of the main distinguishing features about Basic Attention Token and the Brave Browser ecosystem is the capacity to reward (tip) users who are not yet part of the network - this includes both websites and individual Twitter users. These users can then securely register to the platform to collect any tips they have accumulated.
Both Basic Attention Token and Brave Browser have achieved significant user uptake since their launch. As of October 2020, Brave Browser has a total of 20.5 million active monthly users, whereas the Basic Attention Token is now held by a total of more than 368,000 unique wallets.