I want to guess that you are not familiar with the term ” Basic Attention Token”, otherwise known as BAT.
Not to worry, With this guide, you will understand everything you need to know about Basic Attention Token (BAT) and how the BAT crypto works.
Internet users are constantly haunted with annoying adverts that violate their privacy through data sharing with or without their consent and, these ads contributes to making page loading slower
As a result of this, an Ad-blocking technology — was introduced to tackle the problems of users viewing unnecessary Ads and lack of user privacy.
According to the developers of BAT and Brave browser, they want to employ those two systems to increase crypto users to 1 billion and also, to solve the inadequacies and privacy violations shambling the digital advertising industry.
What is Basic Attention Token?
Basic Attention Token (BAT) is a native token of the Brave browser. It is a blockchain technology that is used to track and curate the kind of digital Ads or content that a user consumes.
BAT Crypto makes use of the Ethereum blockchain and a dedicated web browser known as Brave.
With BAT, the security and efficiency of digital advertising is improved through Blockchain technology, and, several advertising services can be obtained.
The Basic Action Token uses the Brave web browser to track annoying or unnecessary adverts that are being displayed to a user.
Having known that BAT is built on the Ethereum blockchain technology; it was also designed to help distribute revenue gotten from digital Ads to advertisers, content creators, publishers, and readers of online marketing ads.
BAT exists with the sole aim of making readers enjoy their reading experience by showing them digital Ads that are tailored towards their interest while not tampering with their data privacy rights.
It is interesting to know that BAT is the foundation on which the Brave web browser is built upon.
In addition, the Brave browser can allow you to browse the internet anonymously without any digital Ad displayed but, it allows users to watch marketing Ads in exchange for BAT-USD.
Asides from users getting BAT, the publishers of those contents get BAT each time a user clicks on their sites. In other words, Publishers or advertisers benefit from increased engagements while users get privacy and specific advertisements tailored to suit their needs.
BAT creates a blockchain-based digital ads exchange that gets rid of any chance of fraud. With BAT, a transparent and decentralized advertising experience is created which benefits both clients and consumers alike.
Basic Attention Token is the reward unit of the Brave browser and it ensures that providers get better revenue for their content.
The inventors of BAT are seeking to enhance the way that advertising is managed in the digital age. They see current trends as disadvantageous to publishers, advertisers, and users alike.
How Does Basic Attention Token on Brave browser Work?
Basic Attention Token uses the Brave browser to work. Brave is a free privacy-concentrated browser that detects and blocks unnecessary ads using Brave shields.
It can also measure user’s attention and with this measurement, it can help to improve user’s advertising experience. Brave doesn’t only provide tailored ads to users, it also protects user’s privacy.
Users can turn on the Brave Ads feature to get paid in BAT for the time they spend consuming advertising content. Also, users can reward their favorite advertisers directly either through the reward feature of the browser or by clicking the tip button of the site.
The Brave browser has some features that block hostile ads, give users ads relevant to them, protect their privacy and dispense revenue fairly between content creators and the users.
Who Are the Founders of Basic Attention Token? (History of BAT)
The duo of Brendan Eich and Brian Bondy founded the Brave software in 2015. Brendan is noted to be the creator of Javascript. Also, he was a key developer in the story of Mozilla Firefox, he was Mozilla’s co-founder.
Brian on the other hand was instrumental to the development of Evernote, Khan Academy, and Firefox too. These two techies do have a large portfolio in the tech industry.
The BAT was launched in 2017. After the launch, BAT made over $34 million in less than 1 minute. Although, Brave 1.0 was launched in November of 2019 with features like Brave shields, Brave Ads, and Brave rewards.
To date, the software is being updated, though, the beta version of the browser is available for download. BAT had a highly successful Initial Coin Offering (ICO) at the time of its launch.
Basic Attention Token Value
According to BAT’s whitepaper, its launch is aimed at raising a total of $24 million. The token was said to have reached its highest price since its launch on January 9, 2018, when it traded with $0.999568. Altogether, it has a circulating supply of 1.36 billion and a total supply of 1.50 billion BAT respectively.
The exchange rate of BAT is set at 6,400 BAT per ETH; this means that, as the price of ETH rises or drops, the price of BAT will be modified proportionally as well.
Ever since BAT got integrated into the first global private advertising platform – Brave browser, millions of wallets have been created; 30 million monthly active users while 10 million weekly active users have been recorded. This result has made BAT one of the most successful altcoins presently.
With the Brave wallet, you can buy crypto with credit and debit cards, purchase crypto assets, manage fiat and crypto payment options on desktop and mobile. The brave wallet has also helped in promoting the mass adoption of crypto and Defi.
How To Use Basic Attention Token
Advertisers must plan to spend a minimum of $2,500 per month so as to launch an advertising campaign, which must be paid in Basic Attention Token.
The revenue generated is then shared between content creators and users, one can also choose to pay creators through auto-contribute or direct tips. BAT rewards earned are often redeemed in the Rewards Marketplace for gift cards and can be used to support good causes.
Finally, Basic Attention Token can also be traded on various cryptocurrency exchanges.
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