Basic Attention Token is a cryptocurrency that creates a transparent and efficient Blockchain-based marketplace for publishers, advertisers and content consumers.
BAT accurately computes the value of attention and rewards both authors and consumers for the time spent on their properties.
Basic Attention Token and the Brave ecosystem connect advertisers, publishers, and users, creating a new and efficient marketplace that rewards everyone involved in the content creation and consumption value chain.
BAT is based on Ethereum technology (it’s a ERC20 token).
These cryptographically secure smart contracts are stateful applications stored in the Ethereum blockchain, fully capable of enforcing performance. The token is derived from – or denominated by – user attention.
Attention is really just focused mental engagement – on an advertisement, in this case.
Mineable? If so how is it mined?
Basic Attention Token is not mineable, but users can earn BAT through various methods.
It is a decentralized, transparent and digital ad exchange that relies on two core components: Basic Attention Token [BAT] and Brave Browser.
Brave Browser is a unique browser based on Chromium, the same source code base behind Google’s Chrome browser.
Brave is an open source and privacy-focused project that blocks ads and trackers natively.
At the same time, Brave Browser allows publishers to earn advertising revenue from visitors. Brave can either automatically tip the content provider or the user can click the BAT triangle icon at the right hand side of URL address bar to manually send a tip.
In automatic mode, the browser will calculate the value of the attention span spent at the content location. The browser periodically tips the content creator a certain amount which is split among all authorized locations.
For example, if 25% of the user’s attention span was spent at Youtube and 10% at crypto.bi, then the pre-configured rewards will be split in that proportion among the two sites.
All transactions are performed using BAT token.
BAT is, therefore, the unit of value exchange between users, advertisers and publishers. As mentioned before, the token’s name stems from the fact that its main purpose is to be used as a value unit for users’ attention.
Basic Attention Cryptocurrency has a current circulating supply of approximately 1,000,000,000 BAT (one billion BAT).
The maximum total circulating supply will be 1,500,000,000 BAT.
A total supply of 1,500,000,000 BAT was created during the launch. 1,000,000,000 BAT from this initial batch was sold while the remaining 500,000,000 were set aside, reserved for project growth and to cover development costs.
The proceeds from the initial token offering were used for development of the platform.
In November 2018, BAT got listed at Coinbase.
What makes it different?
Basic Attention or BAT represents a fundamental rethinking of the way digital ads are consumed and how publishers are rewarded for visitors’ time spent viewing their content.
BAT eliminates the need for middlemen and dismisses the need for client-side ad matching.
The fact that users browse naturally, without ads and other distractions, allows the Brave browser to collect precise user behavior data.
The main benefits of BAT instead of ads are: Privacy where the browsing data of the user can be kept as private, Ad Matching is improved so the platform can determine if the user is actually in the optimal place and time in their experience in browsing for an offer and Better Overall User Experience because the users are not required to call out the external servers on every page load that leads to a faster experience in browsing.
Everyone will benefit from BAT cryptocurrency because the number of fraud and middlemen is reduced, the publishers will receive more revenue and end users will receive few but better-targeted ads. Finally, advertisers will get better information about where their ad budget was spent.
Who is behind BAT?
The Brave software team is also working on BAT.
BAT tokens are based on the Ethereum platform.