Basic Attention Token

#36
Price: $0.2412259456
Change(24h):
+ 16.65%
Volume(24h): $23,651,836
Market Cap: $241,225,946
Basic Attention Coin (BAT) is a non-minable ERC20 open source token built on top of the Ethereum blockchain. BAT is the currency running on a decentralized blockchain-based digital advertising platform with the same name. Brendan Eich, the creator of JavaScript and Mozzila Firefox, founded BAT in 2017. The California-based coin was introduced through an ICO on May 31, 2017, raising about USD 35 million in 24 seconds. The core of the project is a browser, which rewards users with BAT tokens for seen ads, with the goal of boosting the efficiency of digital advertising and at the same time enhancing user privacy. Total coin supply is capped at 1.5 billion BAT tokens with one billion of them currently in circulation.

Category:

Commerce

Minable: No

Coin Prefix: BAT

Type: Token

Websites:

Latest Hight: $0.55

Basic Attention Token Markets

# Source: Pair: Price:
1
Binance
BAT/BTC
$0.24086106173094
2
Bittrex
BAT/BTC
$0.240990556925419
3
Huobi
BAT/BTC
$0.241314294911617
4
Huobi
BAT/ETH
$0.241695109651445

Area to disrupt:
 online advertising
Competition: AdEx (ADX)
ICO token: yes (2017), Ethereum-based ERC20 utility token


Basic Attention Token - improving digital ad efficiency and protecting user privacy

The Basic Attention Token (BAT) is the name of the token and the platform. The token is used to power a decentralized advertising platform based on the Ethereum blockchain. It was started by the inventor of Javascript, Brendan Eich, who also co-founded Mozilla & Firefox. In 2015, Eich started the Brave browser, which is an open source browser based on Chromium. The BAT is used to power the services on Brave. The token is a unit of account for attention within the platform. Users who choose to receive ads on their browsers are rewarded with BAT for viewing those ads. The rewards are measured according to the “Attention” users put into watching the ads and also by the size of the ads’ exposure. The tokens can be also used for donating to the users’ favourite sites. The BAT platform plans to launch its own decentralized ad exchange where advertisers will be able to purchase ad space and user attention. The opening of the ad exchange is scheduled for the first half of 2018.

Other components included in the BAT platform are analytics dashboards, machine learning matching algorithms, and attention measurement. Advertisers on the platform are required to transact in BAT to purchase ad space and user attention. Publishers and website owners will be rewarded from user contributions in BAT and also receive ad revenues. Users will be compensated with BAT for their attention when they choose to view ads.


The browser

The Brave browser is part of the BAT platform. However, the future intention is BAT to extend its reach beyond Brave and reach other browsers as well (via extensions). Also, it is planned that BAT will be integrated in messaging apps, games and other attention-economy apps. This effort will not happen overnight – the goal is to accomplish the extension work after the Apollo phase (2018).

brave-browser-logo

The ambition of BAT is to fundamentally change the way digital ads are perceived and delivered. The platform aims at removing the third party tracking (pixels, scripts, cookies) and middlemen matching. It wants to create a way to deliver ads locally, on-device. This allows for better user privacy, where user browsing history can be kept private because data required for ad matching never leaves the user’s computer. The ad matching engine allows for determining whether a user is in the optimal time and place in their browsing experience for an offer. Because matching is local, users do not need to call external servers on every page load, which saves them computing power (consequently battery life) and also leads to better privacy and faster browsing.


BAT currency usage

The BAT currency is used with Brave Payments to support someone’s favourite publishers or content creators. It will also be used for paying for premium contents. There is also going to be the option to convert BAT into gift cards, discounted subscriptions, etc. The long-term vision of the BAT platform is to become a marketplace for platform-specific offers.

The Brave browser comes with a built-in BAT wallet. People can purchase a BAT from exchanges or by funding Brave with BTC, ETH or LTC it will automatically convert into BAT. There will be an option to also purchase BAT through a credit card directly from the Brave browser.


Wrapping it up

The BAT token and platform is designed to improve the efficiency of digital advertising. Through the use of the token, the platform will link publishers, advertisers, and users. It uses the Ethereum blockchain for transactions and the value of the token is based on the users’ attention. In the modern digital advertising industry, users’ privacy is in crisis with ever increasing consumer-surveillance to improve ad models. Such models are unsustainable in the long run and the BAT platform is trying to fix the incentives by correctly pricing user attention and increasing the privacy of users.