Basic Attention
The Basic Attention Token (BAT) is a blockchain-based token that tracks how much time and attention users spend viewing media on websites that use the Brave browser.
BAT is a unique token that drives a blockchain-enabled virtual advertising platform in the Brave Browser, allowing users to watch advertisements while maintaining their privacy and earning BAT incentives for doing so. This allows consumers to be fairly rewarded for their attention while also offering advertisers a greater return on investment, focused advertising for maximum engagement, and minimal losses due to fraud.
The BAT token is utilized as a reward component in the Brave ecosystem and is transferred between users, marketers, creators, and publishers. Advertisers can pay for their ad campaigns using BAT tokens, and around 70% of these are transferred to users.
Basic Attention Token was developed by internet surfing software industry experts Brendan Eich and Brian Bondy using blockchain technology to improve the security, fairness, and effectiveness of digital advertising.
Brendan Eich founded and served as CTO of Mozilla before taking on the role of CEO at Brave Software. Brendan contributed to the 2004 launch of Mozilla Firefox and also created JavaScript in 1995. The CTO of BAT, Brian Bondy, had a similar tale. Prior to working as a senior programmer at Mozilla, he developed software for the Khan Academy.
According to Brian Bondy, digital advertising is broken and has to be fixed Middlemen and cross-party data sharing are at the core of the issue and have caused a variety of problems for publishers, marketers, and consumers. Users have lost their privacy, have to pay excessive rates to download advertisements, and have to deal with poor website load times. Publishers have lost billions of dollars to new intermediaries. Advertisers suffer inadequate reporting and targeting.
To address these concerns, Eich and Bondy proposed a new vision for digital advertising. With Brave, they wanted to enhance user privacy, remove intermediaries from the digital advertising business, and distribute economic value more fairly all through the ecosystem.
All BAT transactions are settled on Ethereum, a public blockchain platform that enables developers to design and deploy new currency and apps.
· Brave Browser: BAT runs on the Brave web browser, which was designed by the same company that made the token. Brave is a free browser that promises to load 3-6 times quicker than competitors since it only shows ads if users opt-in to see them.
· Brave Micropayments Ledger: Brave utilizes the Brave Micropayments Ledger to monitor the movement of BAT.
The Brave Micropayments Ledger is designed to make it possible for readers, publishers, and marketers to enter into smart contracts to transfer payments amongst one another.
The use cases of the project include:
· Providing advertisers and publishers a centralized platform for communication-BAT offers a platform for publishers and marketers to communicate. Advertisers buy ad space in exchange for BAT tokens, which are transmitted to publisher addresses.
· Rewarding people for their attention-Brave's algorithms constantly split BAT tokens between publishers and users in compliance with a previously agreed-upon fee schedule.
· Providing user funding for content creators-BAT enables artists and content producers to create verified accounts with Brave and accept user contributions in BAT.
DATE NEWS/EVENTS IMPACT 07/05/2022 TerraUSD and LUNA both collapsed, and as a result, a number of crypto platforms folded in the aftermath -34% Decrease 25/11/2021 Basic Attention Token continues to defy the cryptocurrency market's downward trend, as its price has risen to a new daily high +30% Increase 14/05/2021 Market problems stemmed from Bitcoin's energy use -37% Decrease 07/04/2021 Grayscale Investments has announced the launch of its new Basic Attention Token Trust +30% Increase
BAT is a token that seeks to change the way advertisements are shown and seen as well as the advertising business. They want to do this by utilizing their own currency, which is built on top of the Ethereum blockchain, to provide a mutually beneficial platform for advertisers, content creators, and consumers.
BAT was the first initiative to focus on the field of advertising, and it has proven extremely successful thus far. Potential opponents are far apart in terms of market size and infrastructure, and Brave has been able to collaborate with significant businesses like the Dow Jones Media Group.
The biggest question mark around the entire project will be its potential for broad adoption in the future and whether traditional advertising partners will be prepared to switch from standard business methods and invest in a crypto business model.
