The cryptocurrency industry has introduced many real-world tools that are built on blockchains. These tools and programmes are unique in the sense that they are decentralized. One such programme that is making head waves is Basic Attention Token (BAT).

What is BAT?

BAT is a digital advertising token that is built on the Ethereum blockchain. The advertising industry is faced with a lot of challenges from publishers struggling to monetize content and advertisers being defrauded. It is said that Facebook and Google are monopolizing digital advertising revenue and that they make 73% of online advertising revenue.

BAT aims to change this by cutting out the middleman. This means that publishers will get the biggest cut of advertising revenue whilst users will also get paid for watching these advertisements. Advertisers will also have access to more accurate data for analysis purposes, should they use the BAT platform.

BAT is the ideal token for digital advertising users, advertisers, and publisher. These parties form the BAT ecosystem.

How does BAT work?

BAT works through the Brave web browser, which was created by the development team. Advertisers can send advertisements to viewers in a locked state. When an advertiser looks at the ad, they will be rewarded with a portion of the token payment that has been allocated to the specific ad. The balance is the payment will go to the publisher for hosting the ad. This is done by means of Ethereum’s smart contracts. Thus far, BAT only uses the Brave browser but according to the project’s roadmap, it will be integrated into more browsers and apps at the end of 2018.

As the user, you can spend the BAT tokens you earned to pay for various products, articles, photos, data and even make donations. In the future, we may also see BAT micropayments that can be used for up or down voting in various forums. An added advantage of BAT and Brave is that it has an “Anonymity Shield” that is aimed at protecting users. This means that advertisers and publishers cannot track you via the Internet.

So now one can browse the internet and earn by focusing your attention on ads. It sure beats having to wait for 4 seconds before you can skip an ad!

Are you Brave?

The Brave web browser was launched in 2017. It makes use of a ledger system, is open-sourced and privacy-focused. What’s great about the browser is that it blocks so-called intrusive ads and trackers. The browser also upgrades every single site by means of the HTTPS protocol meaning that you get an extra layer of security whilst browsing the Internet. You can use the Brave web browser to browse the Internet just as you would be using Google for example.

Brave, however, uses its background ledger system to see which sites and what type of content and products you like. This anonymous tracker also looks at how much time and attention you spend on a particular site. Remember that with the anonymous tracker your private information will never leave the device. You will then have the option to view ads that feature products that are relevant to you and you will get paid accordingly. Attention Value is measured at the time you spent watching the ad and this also affects how much you get paid. There are currently 150 publishers that have partnered with BAT to be featured on Brave Payments. This is the micro-payment service of the Brave web browser. This includes the likes of Wikihow, Smashing Magazine and Archive.org to name but a few.

Background

BAT is still a young project as it was launched in March 2017. During its ICO sale in May, it raised $35 million in less than 30 seconds! The founder of the company is Brendan Eich, who also created Javascript and was the co-founder of Mozilla and Firefox. Other crypto superstars who are advisors for BAT are Ankur Nandwani, product manager of Coinbase as well as Zooko Wilcox, the founder, and CEO of Zcash.

BAT Coin Supply & Trading

BAT has a circulating supply of 1 billion tokens with a market cap of more than $235 million. About 200 million coins have been put aside for product development and 300 million tokens form part of the user growth pool (UGP). When this user pool is empty, there won’t be any more tokens created. At the moment, new Brave users are given 5 BAT tokens on condition that they must spend it within the first 6 months of them using the Brave browser. If they don’t spend it, it is returned to the UGP to be distributed to another new user.

During the current bear market, BAT is trading at $0.23. Its all-time high is $0.327 which took place in June 2017, when the ICO finished.

You can buy BAT on prominent sites such as Bittrex, Binance, Liqui, Huobi and Upbit. It is available on both the Bitcoin and Ethereum platforms.

For updated information on BAT’s price, visit Coinmarketcap.com. Click here.

It is easy to store BAT tokens using MyEtherWallet or hardware wallets such as the Ledger Nano S and Trezor. Bitmart stocks the latest hardware wallets, visit our online shop here.

A third option would be to store your BAT tokens on the Brave browser wallet. All you have to do is to download and open the web browser. Click here.

Conclusion

BAT has the markings to be a game changer in the advertising world and enjoys support by a capable team.