What is Basic Attention Token (BAT)? Beginner’s Guide

What is Basic Attention Token (BAT)? Beginner’s Guide

Basic Attention Token is an Ethereum-based ad-exchange platform connecting publishers, advertisers, and users on the blockchain.

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 team behind the Basic Attention Token wants to change that.

BAT is the Ethereum, ERC-20 utility token used on the platform and it is integrated in the Brave web browser, letting users tip content creators with BAT – which can then be used to purchase ads through its Google-like advertising platform.

Both BAT and Brave Software were founded by Brendan Eich, the inventor of the JavaScript programming language and co-founder of Mozilla and Firefox. Eich insists they are separate projects, although VC firms like Peter Thiel’s Founder’s Fund, Propel Venture Partners, Pantera Capital and more invested over $7 million in both projects.

Creators and Developers of Basic Attention Token and Brave Browser

  • Brendan Eich – CEO,
  • Brian Bondy – Lead Developer,
  • Scott Locklin – Senior Engineer,
  • Bradley Richter – Head of Design,
  • Catherine Corre – Head of Communications,
  • Marshall T. Rose – Senior Engineer,
  • Brian Johnson – Senior Engineer,
  • Luke Mulks – Senior Ad-tech Sepcialist,
  • Aubrey Keus – Senior Engineer,
  • Yan Zhu – Senior Engineer,

BAT Technology and features

Privacy: Every users’ browsing data (for instance, their browsing history) is kept completely private. This is because all information which is necessary for ad-matching does not leave the device. Moreover, third-party trackers are blocked automatically.

Enhanced advertisement matching: The Brave browser has the complete collection of user data along with intent signals, active tabs, URLs, keyword search entry information, browsing information, etc. The platform, along with the Brave browser can also establish if users are in a favorable time and place in their browsing experience, in order to provide them with offers.

Improved experience: Users need not have to reach out to external servers for every page load (for tracking scripts, pixels, etc.). This is because ad matching is performed locally. This helps in providing a quality browsing experience. This is in addition to good battery life, less data usage, little issues of disturbed content flow and fast browsing.

How Does the Basic Attention Token Work?

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 goes to the publisher hosting the advertisement.

As a user, you can spend your BAT on several things in the Brave 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 micropayments for comments and up/down voting in forums.

What Is the Brave Browser?

The Brave browser 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.

It also upgrades every site that it can to use the HTTPS protocol, adding an extra layer of security when you browse.

The Brave browser uses a background ledger system to anonymously track which sites and content you’re spending most of your time on so it can pay publishers accordingly.

Although the browser constantly measures your attention, 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.

Your 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.

Basic Attention Token (BAT) wallets