I. What is Basic Attention Token?
Basic Attention Token (BAT) is a blockchain-based system for tracking consumer time and attention on websites using the Brave web browser. The initiative, which is based on Ethereum, aims to efficiently divide advertising funds among online marketing material and advertising marketers, publishers, and viewers. Additionally, the idea preserves data privacy while allowing readers access to fewer adverts that are relevant to their interests.
The Brave web browser’s currency is the BAT token, which is used for transactions between users, advertisers, and publishers. aims to enhance user attention-based advertising in the digital era, which is crucial for advertising companies operating in the digital era.
BAT’s creators believe that by monitoring user interactions with digital content and storing that information in a distributed ledger, users, advertisers, and Brave publishers will all benefit from an improved advertising experience. Users benefit from more ad personalization and privacy benefits. BAT tokens will provide publishers with a new source of income. As blockchain enhances user security, advertisers will eventually be able to target their audiences effectively based on preferred interests and prevent fraud.
II. History of Basic Attention Token
Basic Attention Token is the creation of Brendan Eich and Brian Bondy, two well-known figures in the web browsing software industry. The CEO of Brave Software, Inc., the organization that created the Brave browser and Basic Attention Tokens, is Brendan Eich. Eich founded and served as CTO of Mozilla and Mozilla Firefox, two of the most widely used browsers in the world, prior to the release of Brave. In 1995, he also made a contribution to the development of JavaScript.
Brian Bondy is the CTO of Brave and Basic Attention Token. Previously employed as a senior software engineer with Mozilla, a software developer at Corel Corporation, and the software development lead at Khan Academy, Bondy is an accomplished engineer.
16 people make up the Basic Attention Token team, many of whom have backgrounds in engineering, research, or development. San Francisco is the location of Brave Inc. The Brave browser, which has the key function of blocking ads and trackers, was first introduced in 2016 after Brave Software was founded in 2015. On May 31, 2017, the Basic Attention Token (BAT) was formally introduced, making BAT one of the all-time fastest initial coin offerings (ICOs) to sell out. In less than one minute, the platform was able to raise a total of $35 million.
There were 1.5 billion BAT tokens overall after one billion were successfully sold and 500 million were kept by Brave Inc. Since then, it has improved customers’ exposure to advertising through an attention-based method and grown well-known for its Brave Rewards program. The most active advertising campaigns in 2020 were in the United States, Canada, and the United Kingdom. Additionally, a large number of investors are backing the BAT project, including Propel Venture Partners, Founders Fund, Pantera Capital, Foundation Capital, DCG, and many more.
III. Striking Features of Basic Attention Token
Basic Attention Token addresses the following issues:
The BAT development team thinks the present online advertising system is flawed for the following reasons:
- Users experience data misuse, and as there is no incentive to see adverts, the propensity to block them grows.
- Because many consumers block adverts, content creators must pay large percentages to third parties like Google or Facebook and suffer from diminished profit margins.
- Poor targeting results from advertisers’ lack of reliable user data. Additionally, websites use bots to swindle users out of adverts.
How Basic Attention Token solves the problem?
BAT solves this problem by:
- Users earn BAT tokens through viewing ads. Meanwhile, content publishers earn BAT through their content, receiving tips from users.
- Advertisers will save more money to attract users to ads, reduce fraud and achieve greater efficiency.
IV. Core Technology of Basic Attention Token
Products of Basic Attention Token
Brave Browser
Brave is an internet browser, based on Chromium (open source version of Google Chrome), integrated with BAT token. By default, the Brave browser blocks ads, blocks trackers, and privately monitors “user attention” to reward respective publishers.
Brave Browser’s Important Functions:
Brave Wallet
- Platform for mass adoption of crypto and DeFi
- DeFi and NFT Support
- Buy crypto with credit and debit cards, crypto assets, and other assets
- Manage fiat and crypto payments on desktop and mobile
Brave Swaps
- Bring DeFi to Everyone
- Multi-chain support and best price with lowest fee
- Hold BAT and save. Get a discount when using BAT for transaction fees.
How does Basic Attention Token work?
Currently, a BAT development team has produced the open source web browser known as Brave. The only web browser that supports BAT is this one. Brave has automatically blocked annoying advertisements and trackers in addition to placing a strong emphasis on performance and privacy. Blockchain technology has being utilized by Brave to track users securely and anonymously.
Basic Attention Token (BAT) consists of algorithms for analytics and dashboards, as well as systems for monitoring attention. By establishing a new channel of communication between publishers, users, and advertisers, BAT also contributes to enhancing the efficacy of digital advertising.
BAT’s worth is determined by user interest or attention. As a result, users can view adverts for free, pay to block them, or even get paid in BAT tokens.
Advertisers can pay users to view their paid advertisements by using smart contracts. They will also receive bonuses for watching ads. Then, money was also received by Brave browser. The publisher will receive the balance.
V. What is BAT?
1. Detailed Information about BAT
BAT is the official token of the BAT decentralized advertising platform.
It is built on the foundation of Ethereum according to the ERC-20 standard and was released to the market on July 31, 2017 through ICO funding.
- Ticker: BAT
- Contract: 0x0d8775f648430679a709e98d2b0cb6250d2887ef
- Decimals: 18
- Blockchain: Ethereum
- Token Standard: ERC-20
- Token type: Utility Token
- Total Supply: 1,500,000,000 BAT
- Circulating Supply: 1,353,198,750 BAT
2. BAT Allocation
With a fixed total supply of 1.5 billion tokens, BAT is distributed by the development team into three parts with the following ratio:
- 1 billion BAT sold at ICO.
- 200 million BAT is the budget to develop BAT.
- 300 million BAT used as user development budget.
3. BAT Noticeable Milestones
Token Sale BAT
Over 66.6% of BAT tokens were sold at $0.036 on May 31, 2017 and earned BAT more than $35 million within 30 seconds.
Token Release BAT
Below is the situation, the number of BATs that have been released to the market:
- 1 billion BAT ICO: 100% distributed after ICO.
- 300 million BAT distributed.
- 200 million BAT used as a development budget has been disbursed, 66.35 million, and 133.65 million has been locked for 180 days.
4. Use Cases of BAT
The BAT token has two primary uses:
- Rewards: BAT is given to publications that generate 70% of the revenue. While Brave receives the remaining 15% after users receive 15% for seeing advertising.
- Payment: BAT can now be used by users to tip content creators.
BAT will eventually be used to pay for:
- High-end Content.
- high caliber material
- BAT’s rank comment.
- Purchase digital products such as photos, vectors, etc.
VI. How to earn & own BAT?
- Purchase directly on the exchange.
- To browse the web, use the project’s Brave Browser (ads must be enabled to receive BAT token rewards).
BAT now has a total daily trading volume of around 187.7 million USD over a number of various exchanges. This coin is available on a number of exchanges, including FMFW, HitBTC, Binance, Coinbase, Kraken, and Huobi.
VII. Which Crypto Wallets are suitable for BAT?
BAT is an ERC20 token, so you will have a lot of wallet options to store this token. You can choose from the following wallets:
- Wallet Myetherwallet, Mycrypto, Metamask.
- Hardware wallets: Ledger Nano S, Ledger NanoX, Trezor, imToken.
- Applications: Trust Wallet, Cobo Wallet, Atomic Wallet.
In addition, you can store on PRESTIGE exchanges that support listing BAT.
VIII. BAT Recent Developments
New function coming in the future
- Use BAT for search engines
- Using BAT with E-Commerce
- IPNS Verified Content Rewards
- Use BAT to pin assets and share files with IPFS
Market potential
The value of the online advertising market is huge, estimated to reach $518 billion by 2023.
In which, BAT will compete with traditional giants such as Google, Facebook and some other Blockchain projects such as AdEx, DATA, Steem, etc.
BAT Performance
Besides the potential and fierce competition, you consider what BAT has shown so far.
About the browser:
Currently, BAT has only been deployed on 2 browser platforms, Brave and DuckDuckGo with 4 .
Think about it, if BAT is deployed with Google Chrome or Firefox, the number of users will increase even more.
Number of Publishers:
According to official data, the number of publishers on BAT has reached 280 thousand.
In it, there are very large traffic websites such as TradingView, Coinmarketcap, Etherscan, CoinGecko …
About On-Chain:
Currently, there are more than 544k wallets storing BAT. In which, the number of wallets used to receive and transfer BAT tokens per day is 1550 and 701 is the number of wallets that receive and send BAT tokens that appear every day.
Regarding the BAT transfer number:
BAT’s transfer number is only about 2353 every day.
IX. Teams, Funds & Partners of BAT
1. Team
2. Investment Funds
updating…
3. Adviser
X. Where can BAT information be updated?
Currently, Crypto users can fully consult, research, and analyze information about BAT through famous media newspapers such as Nasdaq, Bloomberg, Forbes, AP News, Yahoo!Finance, CoinTelegraph, Coindesk, etc.
These media are constantly updated with useful information, new activities, outstanding events of BAT and all the topics surrounding it. Accordingly, Meta Lion Ventures continuously updates the topic of outstanding projects in Blockchain and hot events organized between Meta Lion & partners.
XI. FAQs about Basic Attention Token
- How much BAT is there in total supply?
The maximum quantity of Basic Attention Tokens is 1.5 billion. The only way to increase this number is to use a new smart contract token. Currently, the entire supply is in use.
Investors purchased 1 billion BAT tokens overall during the 2017 ICO. While 300 million BAT were set aside for the User Growth Team, another 200 million tokens were locked to a development team (UGP). Both the development team and the UGP were nearly worn out by November 2020.
- How To Get BAT Crypto
On a number of well-known cryptocurrency exchange websites, including Kraken, Gemini, and others, Basic Attention token can be exchanged. BAT can be bought using fiat money or exchanged for a number of cryptocurrencies.
Users receive 70% of advertising revenue from Brave. Simply download the Brave browser and turn on “Brave Ads” to receive ad notifications in order to receive BAT cryptocurrency.
- Is BAT A Good Investment?
BAT is a risky asset, but it has the potential to yield a good return on investment over time, claims Wallet Investor. BAT has a market cap of over $1 billion, making it a moderately promising investment. Of course, other elements that must be taken into account include market sentiment, the movement of cryptocurrency through exchanges, and the status of the economy.
As of June 2021, the market capitalization of BAT coin was $1.1 billion, with a value of roughly $0.77. BAT has a 1.5 billion BAT maximum supply and is ranked 74th by market cap.
- How to contact and update information on BAT?
- Website: https://basicattentiontoken.org
- Email: info@basicattentiontoken.org
Conclusion
In conclusion, blockchain technology is applied and used smartly by BAT. Brave browser continues to offer a quick, safe, and secure browsing experience. As more people understand the benefits of BAT, the price of BAT may rise sharply.
However, before making an investment, do your homework like you would with other cryptocurrencies. Making decisions that are not exclusively dependent on exaggerated advertising efforts is arguably the hardest hurdle for investors, especially beginner ones.
The above is Meta Lion’s comment on the Basic Attention Token project which is our personal opinion, this is not investment advice at all. Investors should be responsible for their own decisions.
