- BAT tokens are meant to be exchanged between publishers, advertisers, and users through a transparent system to reward the attention of online users.
- Brave is an internet browser, relying on Chromium (the open-source version of Google Chrome), which integrates with the BAT token. By default, the Brave browser blocks advertisements, prevent trackers and monitors privately the “attention of users” in order to reward publishers accordingly.
- BAT are paid to users for visiting websites while publishers get rewarded for their content based on the attention paid to their work. From the perspective of advertisers, they supposedly enjoy benefits such as “better user targeting, an improved ROI, and reduced fraud” for online campaign.
Most internet users leave of their thanks to avoid online advertisements, but what if that they had a monetary incentive to look at them?
Basic Attention Token (BAT) may be a cryptocurrency meaning to create a virtuous cycle around digital advertising that’s equitable for creators and consumers.
Running on Ethereum (ETH) and integrated natively on a custom browser called Brave, BAT are often exchanged between advertisers, publishers and internet users supported their web activity, and is meant to streamline commerce between all three groups.
Users are rewarded with BAT for viewing ad content, publishers can deliver higher-impact ads and advertisers are often assured their messaging is being viewed by a willing audience.
The end result’s a replacement quite digital advertising platform powered by BAT.
Users can either hold the BAT, exchange it for fiat or other cryptocurrency, or pay it to support their favorite content creators.
Who created BAT?
In 2017, Brave completed an initial coin offering (ICO) for BAT, raising $35 million in 30 seconds by selling 1 billion BAT. At the time, 500 million BAT was reserved by Brave Software.
Of that total, 200 million BAT was put aside for the Brave team, with 300 million BAT reserved to be sold at a later date to market the platform.
How does BAT work?
All BAT transactions choose Ethereum, a public blockchain that permits developers to make and deploy custom cryptocurrencies and applications.
BAT operates on an internet browser called Brave, developed by the team that created the token. Brave may be a free browser, which claims to load 3-6 times faster than competing offerings, because it only serves advertisements if users opt-in to seeing them.
Brave browser users can check in for the Brave Rewards program, which allows them to be paid in BAT for viewing ads or to send BAT to content creators whose work they need to support.
Brave’s default setting is to dam trackers and ads. It only activates ads if the user opts in. Brave then serves up native ads from trusted partners, which users are rewarded in BAT for viewing.
Brave Micropayments Ledger
To track the movement of BAT, Brave uses the Brave Micropayments Ledger.
The idea is that the Brave Micropayments Ledger will allow advertisers, publishers and readers to enter into smart contracts to maneuver payments between one another .
Brave is exploring the utilization of zero-knowledge proofs for its blockchain, with the goal of providing anonymity to stakeholders in online media transactions.
Why does BAT have value?
In advertising, eyeballs are money. Rates are paid to advertisers supported what percentage viewers they will get on their product or service.
But there’s no guarantee those viewers are literally listening . Since viewers are being compensated with BAT, the thought is advertisers using the platform are often better assured their ads are being seen and they’re willing to pay a premium for that undivided attention.
Brave pays BAT to users who view ad content as a sort of distribution . Users can exchange it for fiat currency or hold it during a digital wallet. BAT also can be traded on exchanges.
BAT is additionally a finite asset, with just one billion BAT in circulation. Further, no new tokens are going to be created once Brave has distributed the 300 million BAT put aside to encourage user growth.
This means investors are often assured that their tokens represent a known percentage of the entire supply of BAT.
Why use BAT?
To keep the knowledge flowing on the web , content creators got to generate revenue.
In an early blog post, Eich acknowledged the importance of a free internet, but said the trade-off is that commercial websites need ad revenue to exist. He said this fundamental “conflict of interest” is responsible for the present cat-and-mouse state of the advertiser-user relationship.
Brave and BAT seek to show that tug-of-war into a handshake. Advertisers can then make certain they’re reaching an engaged audience who they know they’re not annoying, and users can reap a number of the ad revenue for themselves.
BAT seeks to interrupt that cycle of avoidance and mistrust by creating a billboard platform that’s equally beneficial to advertisers, publishers, and viewers.