Detailed review of Basic Attention Token (Basic Etension Token) BAT: rate, chart, description, mining, purchase and sale, exchanges, difficulty, discussion, reviews and latest news

Development history and BAT team

Work on the project began in 2020, but during this short period of existence, its authors have established partnerships with many developer communities. Its founder is Brandon Eich, who is also the creator of JavaScript and co-creator of the Firefox and Mozilla web browsers.

The token crowdsale was held with great excitement after the publication of an extensive “White Paper” and an ambitious project roadmap. As a result, the ICO brought in $35 million in less than 30 seconds from the start of the token sale.

Due to the high demand for advertising on the Internet, which helps users and producers optimize the ratio of the quality of advertisements and their targeted display.

Wallet

Due to the fact that this digital currency does not use its own blockchain and is built on Ethereum, users do not need a separate wallet. To work with Basic Attention Token, you only need to have an Ethereum wallet that supports ERC-20 tokens. You can also use the official wallet, but installing it takes a lot of time and space in the computer’s memory, because you have to download the entire blockchain, which weighs more than 30 gigabytes. A good alternative are applications that do not require downloading the blockchain or the online wallet MyEtherWallet. Many users are skeptical about such sites, but it should be noted that not everything is that simple. MyEtherWallet is written entirely in JavaScript and all its actions are performed directly in the user's browser. It does not send anything to developers and is completely safe. The BAT token is already included in the default list in this wallet and you will not need to make any additional settings to start interacting with it. The Ethereum address will be used to receive all assets that run on this platform.

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More than 20 people are behind the implementation of the BAT project, including:

• Brandon Eich (founder, responsible for the strategic development of the project);
• Brian Bondy (co-founder, lead web browser developer);
• Yang Zhu (security and privacy expert);
• Scott Locklin (specialist in smart contracts, economics of blockchain projects, mechanical engineering, forecasting and quantitative finance);
• Brian Johnson (Electron and Chromium Integration Specialist);
• Aubrey Keus (automation and wallet development).

Official website: basicattentiontoken.org.

Overview of the main goals of BAT

Ineffective advertising often interferes with users' viewing of content. In this case, it may not interest potential customers at all, and advertisers are simply wasting money.

The benefit of the BAT platform is the ability to use it by integrating it into the Brave web browser to browse content securely. In the future, it will be integrated into various applications, which will make it a functional system for publishing targeted and more effective advertising.

Each time after viewing an advertisement, the user receives tokens. This allows the company to avoid unnecessary costs when using traditional advertising services.

The authors of the project consider this approach to be more democratic, since popular content is promoted by voting. This allows you to reduce materials of a dubious nature. By using more tokens, users will also be able to expand the network and pay for premium content. This feature will also be available by paying in fiat currency.

The ultimate goal of the project is to create a transparent and efficient digital advertising market based on blockchain technology that will satisfy the needs of all its participants.

What is BAT

The new Brave browser was designed to solve all the pressing problems of advertisers, website owners and visitors suffering from advertising.

• The new browser provides unprecedented navigation speed, 7 times faster than the speed of loading content through a regular browser.
• Brave guarantees complete privacy. User information passing through his network via the HTTPS protocol is encrypted and will never be disclosed to third parties.
• It blocks online advertisements, torrent trackers, and scripts that track user actions.
• It has a built-in system for collecting behavioral factors.

The most interesting of this list is, perhaps, the statistics collection system. It works using new methods and is more accurate than its analogues. Such statistics are very desirable for advertisers, because they allow them to contact the target audience directly, which increases the effectiveness of advertising, and hence the full utilization of the funds allocated for it. Of course, such information is not provided for free. This is where the BAT token comes in handy. It is the monetary unit for calculations.

Browser developers will sell advertisers the ability to show ads specifically to those users who will be interested in them. What will regular website visitors get? They will receive 70% of the tokens earned from advertising for viewing it. If someone doesn't want to watch an ad, they can opt out. With the received tokens, the user can buy premium products and also donate them to the developers of their favorite sites.

BAT token

The BAT system has a limit on the maximum number of tokens. This makes it easier to control possible inflation and means that ultimately the stability of the cryptocurrency will be ensured. A total of 1.5 billion BAT can be created, and no more than 1 billion of them can be in circulation at the same time.

After the crowdsale, it was decided that any tokens purchased and received as bonuses must be used within 6 months. Otherwise, their solvency will be eliminated. This ensures that users are committed to growing the platform rather than simply accumulating cryptocurrency as an investment for the future.

How the platform works

Today, the advertising industry cannot streamline the interaction between advertisers and users. Extra funds are spent on engagement reporting, while the advertising system exploits users’ personal data.

The BAT system normalizes the relationship between advertisers and end users. The operating principle of the system is as follows:

1. To reach consumers, advertisers pay publishers with BAT coins.
2. Users view advertisements of interest and receive tokens for this. Brave tracks activity automatically using machine learning. Personal data cannot be used for general purposes.
3. With a mechanism that increases the level of accuracy, advertisers benefit enormously.

A unique approach is used to measure attention - user interaction is tracked in the selected tab in real time. The browser automatically evaluates attention level based on activity (the amount of time spent scrolling content, as well as the time intervals of page views). Other information is also assessed, for example, the type of advertisement viewed. All this data is sent to the Brave Ledger system, where it is recorded. Based on the final attention score, the system rewards publishers and users.

This mechanism allows you to effectively evaluate attention and objectively reward for the work done.

Benefits of BAT

The list of advantages of the project includes:

• the opportunity for advertisers to gain a targeted approach to finding potential customers;
• improving the return on money spent on advertising;
• higher ratio of income to total advertising expenses;
• users will be shown advertising only at their request, and the ads shown will best suit their interests;
• integration of BAT into Youtube and Twitch
• the ability to use BAT for browser games and other applications;
• rapid growth of the community of participants (the number of users of the Brave browser has already exceeded 1 million people).

Description

Basic Attention Token (BAT) is an ERC-20 token that seeks to disrupt and decentralize online advertising by removing middlemen from the equation. Instead, the BAT team would like to see advertisers, publishers and end users pay each other directly in a more useful and equitable way.

The advertising industry currently uses outdated methods to reach consumers, which have become ineffective and often violate user privacy. The brute force methods used to work on television and billboards are easily circumvented online.

In fact, people are so tired of advertising that hundreds of millions are now using ad blockers, significantly reducing the overall revenue of advertisers and their brands. This loss of profit is the driving force for agencies to seek other methods of generating revenue, often leading to the purchase of users' personal data.

To solve this problem, BAT integrates directly into the privacy-focused Brave browser that blocks native ads. The browser applies some basic security guidelines by default.

The browser is available for all platforms and includes a built-in BAT wallet, as well as tools to attract more users. The browser also allows all users who use it to earn money and do not block advertising that directly cooperates with BAT, more on this later in the article.

Disadvantages of traditional advertising services

Today, Google and Facebook can surpass every other digital advertising platform by a wide margin. Although they are considered the best for advertisers (high performance) and consumers (availability of relevant advertising content), digital advertising through Google and Facebook still has its fair share of problems:

1. User privacy. These companies rely on collecting information about users by tracking behavioral factors. Users do not control their own data and do not know what data ends up in the hands of third parties.
2. Impact on browser performance. Most users tend to avoid viewing ads because they slow down the browser when they load, increasing traffic and reducing battery life on mobile and portable devices.
3. Low advertising effectiveness rates. Current “success” is based on page view data and ad click counts. In reality, it is difficult for advertisers and advertising services to determine the return on investment.
4. Malicious code embedded in many advertisements instills fear in users, who are afraid to click even on the advertisements that interest them.

Solving problems using the Basic Attention Token platform

The Basic Attention Token system is built on the Ethereum network blockchain. A decentralized platform for the transparent exchange of advertisements is formed on two fundamental products: the BAT token, which is designed to pay for services within the system, and the Brave browser.

The Brave browser is built on open source code. Its main advantages are confidentiality, automatic blocking of tracking of user actions by external tools, and ensuring that publishers can receive a stable income from advertising. Brave implements a system of registers with the help of which the range of interests of the user is determined. This leads to the most effective distribution of advertising products.

The BAT token plays the role of a unit of exchange between system participants - the users themselves, advertisers and publishers. Users in their browser see exactly those advertisements that may interest them, receiving a certain reward for this. This is achieved by the fact that Brave “knows” the interests of the user, therefore, offers him those services or products that may interest him. As a result, publishers and advertisers receive an effective tool that allows them to display content to interested users.

Using the Basic Attention Token platform benefits everyone. Publishers increase their revenues, reduce middlemen and eliminate digital advertising fraud. Users avoid intrusive advertising and receive it in smaller quantities, but only the one that interests them. Advertisers convey information about their product to the end consumer at minimal cost.

Briefly, the advantages for each market participant User

Receives a reward in BAT for viewing advertisements. Guaranteed to protect your confidential data using the Brave browser. Sees advertisements that are really interesting to him. Thanks to the “anonymous shield” built into the browser, all user actions are reliably protected from tracking via the Internet by third-party advertisers and publishers.

Advertiser

The effectiveness of advertising campaigns increases. Targeting is increasing. The risk of fraud is eliminated.

Publisher

Increases its income by attracting more advertisers and interested users.

Where to buy BAT

Buying and selling the BAT token is possible on such exchanges as:

• Huobi;
• Binance;
• Bittrex;
• Ethfinex;
• Upbit;
• ChaoEX.

At the time of writing, the BAT exchange rate to the dollar was $0.269908, to the ruble - 16.77 RUR, and the market capitalization exceeded $269 million. The token ranked 58th on the cryptocurrency market.

Exchanges

Often, interesting ERC20 tokens immediately end up on many different exchanges, because adding them does not require much effort thanks to the support of the standard. Basic Attention Token was no exception either. According to CoinMarketCap, it is available on more than ten exchanges. The largest trading volume is, oddly enough, on the Korean platform Huobi. It offers BAT/BTC and BAT/ETH pairs, which generate $10 million worth of trades per day. As for more accessible trading platforms that are not beyond the language barrier, there are no problems here either. The token is available on the Binance, Bittrex, Bitfinex, Liqui and Livecoin exchanges. They all have Bitcoin and Ethereum trading pairs, and Liqui and Gate.io even offer USDT trading. Separately, it is worth noting the decentralized trading platform EtherDelta, although its trading volume does not exceed several thousand dollars per day.

Where to store BAT

Since BAT is an ERC-20 token, it can be stored on many Ethereum-compatible wallets:

• MyEtherWallet;
• Exodus;
• Ethereum Mist DApp;
• Jaxx;
• Ledger Wallet.

It is based on the smart Ethereum technology. Each coin can be used to access additional services, including advertising, as well as third-party services. This makes the platform accessible to a wider audience, where each participant can get paid to view advertisements or promote their products and services.

How to earn coins in Brave browser

There are at least 2 ways to earn BAT tokens for free:

1. Viewing advertisements on sites that participate in the Basic Attention Token system. The reward is distributed as follows: 70% to the content author, 15% to Brave developers, 15% to the user viewing the advertisement.
2. 70% can be obtained from the cost of advertising that the browser offers you. In this case, 30% goes to the developers, while the content authors receive nothing, since the system itself makes the offer.

In addition, a system of rewarding authors is organized within the network. You can send rewards to any content creator you like. You can do this manually or set up monthly automatic sending.

BAT tokens can be obtained via airdrop. To do this, you need to download the Brave browser, enable Brave Ads and receive notifications about advertising.

To become a content creator and earn coins, you need to connect to the BAT system. To do this, you must have your own website, Twich or YouTube channel. There is a special Brave Payments Verification plugin for WordPress. Connecting and configuring the system is done in a few clicks.

Forecast and prospects for 2020

The BAT platform provides advertisers with the opportunity to conduct more personalized advertising campaigns. Users have the opportunity to earn money by viewing advertisements and will be able to get rid of unnecessary and uninteresting advertisements.

This approach has a high potential for profitable investment by manufacturers in promoting their products and services, as it provides search for potential customers by displaying targeted ads.

Users, in turn, will be able to get rid of viewing advertisements for products that are often of no interest to them.

At the moment, BAT is not yet able to fully compete with such giants as Google and Facebook, but its community is actively expanding. In addition, the extremely fast sale of tokens indicates the high interest of investors in this blockchain project.

Source:

https://captainaltcoin.com/

https://vkool.com/

https://whalereports.com/

https://basicattentiontoken.org/

Editor: BlockChainWiki Team

Information

Characteristics of the BAT cryptocurrency

Indicators of the Basic Attention Token cryptocurrency as of May 3, 2019: