Basic Attention Token is a new solution that creates a transparent and efficient Blockchain-based marketplace for publishers, advertisers and users, accurately valuing and rewarding the key driver of Internet content: durable user attention.
BAT connects advertisers, publishers, and users, creating a new, efficient marketplace. The token is based on Ethereum technology, an open source, blockchain-based distributed computing platform with smart contracts.
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, since it is an Ethereum token.
Users can earn BAT through various methods.
It is decentralized, transparent and digital ad exchange that is relying on the two core parts which are the Basic Attention Token or BAT and the Brave Browser.
The Brave Browser is a unique browser which is an open source and privacy-focused project that blocks ads and trackers nativelly. At the same time Brave allows publishers to earn advertising revenue from visitors who use the browser to browse. It uses a ledger system in which it anonymously captures the attention of the user in a way that rewards the publishers.
BAT is, therefore, the unit of value exchange between users, advertisers and publishers. The token’s name comes from the fact that it’s supposed to measure users’ attention.
The Brave Browser knows where the users spend their time and that means that said browser can be used to calculate and also reward the publishers using the BATs.
This will lead to an efficient and a transparent advertising market that is fully decentralized and based on a true and tested blockchain (Ethereum).
Maximum Circulating coins
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.
No more than 1.5 billion BAT will ever exist.
Basic Attention token was launched on May 31, 2017. There is a total supply of 1,500,000,000 BAT that is created during the launch in which the 1,000,000,000 were sold while the remaining 500,000,000 were set aside, reserved for project growth and for the development team. The proceeds from the launch of the token are used for development of the platform.
In November 2018, BAT got listed at Coinbase.
What makes it different?
Basic Attention or BAT represent a fundamental rethinking of a way digital ads are delivered. BAT eliminates the need for the countless middlemen and third-party trafficking 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.
Official Website: https://basicattentiontoken.org/
Announcement Thread link to BitcoinTalk: https://bitcointalk.org/index.php?topic=3042378.0
Block Explorer Link: https://etherscan.io/token/Bat
Github source code link: https://github.com/brave-intl/basic-attention-token-crowdsale