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April 9, 2019
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What is the Basic Attention Token?
Blockchain and cryptocurrency are becoming more and more popular, and businesses are starting to look for new problems in the new technologies. Basic Attention Token, or BAT (can be translated as “Basic Attention Token”), was created by the co-founder of Mozilla and Firefox in partnership with the creator of JavaScript and is designed to increase the effectiveness of advertising in the digital environment. The BAT network uses the Ethereum blockchain and the specialized browser Brave. The BAT Token is used on the Brave platform as a currency of exchange between users, advertisers, and content publishers, and it embodies an unobvious, but very important for advertising thing – the attention of users.
Why we need it?
The creators of BAT set themselves the task of completely changing the digital advertising market. They believe that the current situation, when websites are flooded with advertising and spying tools, and that malicious programs appear one after another, is unprofitable for neither users nor advertisers and publishers. Publishers (except for Google and Facebook) earn little money and even suffer losses because of bots that mimic user interaction with content or advertising. Advertisers lack the targeting and information about their customers to focus content more accurately.
Brave web browser
The BAT Token (BAT / USD) is targeted for use on the Brave browser platform. It is an open source browser, designed with a focus on privacy and with built-in blocking of tracking code and malware. For anonymous and secure tracking of users’ attention, the blockchain is used here, and attention is turned into income for publishers. Brave registers the user’s attention, aimed at a particular advertisement or other content, while the creators of BAT emphasize that the user’s personal data and information about his preferences are stored only on his device, guaranteeing anonymity and confidentiality. Advertising publishers are rewarded for the attention of users through BAT, and the more effective their content, the more attention it attracts, the higher their income becomes.
Getting Basic Attention Tokens
As noted earlier, the BAT token is not a full-fledged digital currency; rather, it is a coin created according to the standard based on the ERC-20 on the Ethereum Blockchain. Most of the coins were sold during the ICO, and the balance was divided between the developers and is used for the development of the project, respectively, there is no traditional mining concept within this system. However, tokens can still be obtained for free.
How does it all work?
Brave Browser gets accurate information that allows advertisers to offer their product or services only to those users for whom they are of real interest. Anyone can completely get rid of advertising if it is not important. Thus, comfortable conditions for Internet surfing are provided. Advertisers will use BAT coins to pay for the exchange of advertisements with those who use the Brave browser and at the same time is the target audience for a particular ad.
The main feature of Basic Attention Token is that users are directly involved in the workflow. The browser automatically collects information about exactly what the user is interested in, so the advertiser will be able to determine the circle of the target audience with minimal error and make a newsletter for it.
Where it is going?
The Basic Attention Token cryptocurrency project and the new high-speed browser Brave have significant potential for development. The idea of creation offers the user a comfortable environment for using the Internet, as well as the opportunity to receive rewards for a certain activity. Experts and analysts are optimistic about the potential of Basic Attention Token cryptocurrency, despite the fact that the Brave browser is becoming an intermediary, although it has struggled with the mediation.
