What is Basic Attention Token
BAT (Basic Attention Token) is a blockchain-based digital advertising token based on Ethereum.
The mission of the BAT team is to fix the broken state of the current digital advertising space in which users are unknowingly tracked, publishers are having trouble monetizing content, and advertisers are constant victims to fraud.
Digital advertising revenue has quickly become monopolized by the two big kids on the block: Facebook and Google. These two companies alone receive 73% of all online ad dollars. The BAT team wants to change that.
BAT cuts out the middlemen from the advertising process. Users are paid for their attention watching ads, and publishers receive the majority of the ad revenue directly. Additionally, advertisers gain a better ROI and more accurate data to analyze using BAT.
How does it work?
Currently, the only web browser able to use BAT is Brave – a browser created by the BAT development team. Their roadmap states that the BAT system will be integrated into other browsers and apps by the end of 2018.
Using smart contracts, advertisers send ads with a token payment in a locked state to users. When a user views the ad, they receive a portion of that token payment. The Brave browser also receives some of the token payment. The remainder of the payment is sent to the publisher who hosted the advertisement.
As a user, you can spend your BAT on several things in the browser including premium articles and products, donations to content providers, or high-resolution photos and data services. The BAT ecosystem may even expand to use BAT micropayments for comments and up/down voting in forums.
A system like this is advantageous for everyone in the digital advertising space.
Users are able to surf the web privately again while monetizing their attention.
Publishers can get back a good chunk of revenue previously lost to bots and middlemen.
Advertisers receive better data on the campaigns enabling them to target their messages more effectively.
What is Brave?
Brave is an open-source web browser created by the BAT team. With a focus on privacy and speed, the browser blocks intrusive ads and trackers automatically. Even the leading ad blockers on traditional browsers let some advertisements and trackers monitor your behavior. Brave blocks them all.
Brave also upgrades every site that it can to use the HTTPS protocol adding an extra layer of security when you browse.
The browser uses a background ledger system to anonymously track which sites and content you’re spending most of your time on so publishers can be paid accordingly.
Although your attention is constantly being measured, this information is completely anonymous, and your private information never leaves your device.
The Brave browser also tracks the attention you’ve devoted to an advertisement.
The Attention Value for each ad is calculated based on the incremental time the ad is in view and the number of ad pixels that are visible in proportion to relevant content.
Using machine learning on your Attention Value for different ads enables the Brave browser to serve up advertisements that are most relevant to what you’d want to see – a win for both users and advertisers. The team argues that their machine learning strategy creates content that’s more relevant than that of any third-party tracking systems can produce.
Officially announced in March of this year, the BAT platform is fairly young. The project had a successful token sale in May, raising $35 million in under 30 seconds.
The team is being advised by Zooko Wilcox, founder and CEO of Zcash, as well as Ankur Nandwani, product manager at Coinbase.
BAT is almost the only cryptocurrency project focusing on digital advertising. The only other company of note is AdEx which is also creating a decentralized ad exchange. The primary difference between the two is that AdEx has a focus on advertising (specifically on videos) while BAT is expanding beyond advertising to include premium content, publisher support, micro-donations, etc
At the time of this writing, there are 1 billion BAT tokens in circulation. An additional 200 million tokens are locked in a pool for product development, and 300 million tokens are part of the user growth pool (UGP).
Many popular cryptocurrencies use some form of mining (proof-of-work) or staking (proof-of-stake) to release additional coins into the ecosystem. BAT is different in this regard. Once the user growth pool is empty, no more tokens will be created.
The user growth pool will be used to incentivize people to participate in the BAT ecosystem. Early users of the Brave browser will receive up to 5 BAT/user with the requirement that they must be spent on the Brave platform. If you don’t use these BAT within 6 months, they’ll be taken from you and put back in the UGP to be distributed again.
How to buy sell Basic Attention Token(BAT) directly in INR?
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