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About Basic Attention Token
Key Points
- Basic Attention Token (BAT) is a token that powers a blockchain-based digital advertising platform.
- BAT rewards users for their attention while providing advertisers with a better return on their ad spend.
- The token is exchanged between advertisers, publishers, and users.
- Advertisers pay for their advertising campaigns in BAT tokens.
- 70% of the budget is distributed to users, while 30% is distributed to advertisers and intermediaries.
Founders
- Brendan Eich: CEO of Brave Software, Inc., founder of Mozilla, and inventor of JavaScript.
- Brian Bondy:
Introducing Basic Attention Token: Revolutionizing Digital Advertising
Unveiling the Basic Attention Token (BAT): A Revolutionary Digital Asset
Basic Attention Token, or BAT, is the cryptocurrency that fuels a revolutionary blockchain-based digital advertising platform, which fairly compensates users for their attention while delivering a superior return on investment for advertisers.
Delve deeper into the intricacies of this project by exploring our comprehensive analysis of Basic Attention Token.
This experience is facilitated through the Brave Browser, where users can engage with privacy-conscious advertisements and receive BAT rewards in return. Conversely, advertisers can deliver targeted ads to optimize engagement and minimize losses resulting from ad fraud and abuse.
The Basic Attention Token serves as the fundamental unit of reward within this innovative advertising ecosystem, facilitating seamless exchanges between advertisers, publishers, and users. Advertisers settle their advertising campaigns using BAT tokens, with a modest allocation reserved for themselves, while a substantial 70% is redistributed to users, thereby eliminating intermediaries and significantly enhancing cost-efficiency.
Following a record-breaking initial coin offering (ICO) in 2017, which sold out in under a minute, Basic Attention Token (BAT) raised a staggering $35 million. Since its inception, the platform has successfully rolled out its innovative attention-based advertising experience to users in most countries, courtesy of its pioneering Brave Rewards program.
As of November 2020, the United States, the United Kingdom, and Canada boasted the highest concentration of active advertising campaigns, underscoring their prominent roles in the global digital landscape.
The Visionaries Behind Basic Attention Token: Meet the Founders
Basic Attention Token boasts two esteemed founders: Brendan Eich and Brian Bondy — both luminaries in the realm of internet browsing software, renowned for their exceptional expertise and accomplishments.
Brendan Eich, a luminary in the tech industry, currently helms Brave Software, Inc., the pioneering entity behind the innovative Brave browser and the revolutionary Basic Attention Token. Prior to his tenure at Brave, Eich made a lasting impact as the founder and CTO of Mozilla, where he also conceived JavaScript in 1995. Furthermore, he played a pivotal role in launching one of the world’s most popular web browsers in 2004 — Mozilla Firefox.
Notably, Brian Bondy assumes the role of Chief Technology Officer at Brave and Basic Attention Token, bringing a wealth of expertise to the table. With a storied career that spans senior software engineering positions at Mozilla, software development roles at Corel Corporation, and leadership positions at Khan Academy, Bondy’s technical prowess is undeniable. Collectively, Eich and Bondy boast an impressive 50+ years of software development experience, poised to drive innovation forward.
In total, the Basic Attention Token website enumerates 16 team members, a significant number of whom boast a development, engineering, or research-oriented background.
Unveiling the Uniqueness of Basic Attention Token
The primary application of the Basic Attention Token lies in facilitating payment for advertising campaigns executed through Brave Ads. As of November 2020, a minimum monthly ad spend of $2,500 is required for advertisers to initiate their campaigns, although a self-serve platform with potentially more accessible limits is currently in development.
Presently, the advertising budget is required to be settled entirely in Basic Attention Tokens, which advertisers can procure from a diverse range of third-party exchange platforms. From this, Brave deducts a modest commission, with the remainder being allocated to publishers and users.
One of the key differentiators of Basic Attention Token and the Brave Browser ecosystem is its ability to incentivize users outside of the network, encompassing both websites and individual Twitter users, by offering them rewards or tips. These users can subsequently register securely on the platform to claim their accumulated rewards.
Since their inception, both Basic Attention Token and Brave Browser have experienced substantial user adoption. As of October 2020, Brave Browser boasts an impressive 20.5 million active monthly users, while the Basic Attention Token has garnered significant traction, with over 368,000 unique wallets holding the token.
The Circulating Supply of Basic Attention Token (BAT): A Closer Look
The Basic Attention Token boasts a capped total supply of 1.5 billion tokens, a figure that is immutable and cannot be augmented without the implementation of a novel token smart contract.
Practically the entire supply is currently in circulation, which effectively renders Basic Attention Token nearly fully diluted.
In its 2017 initial coin offering (ICO), a staggering 1 billion BAT tokens were allocated to investors, while a further 200 million tokens were set aside in a development pool, and an additional 300 million BAT were reserved for the user growth pool (UGP). As of November 2020, both the development pool and UGP pool addresses have been largely depleted.
The Security Framework of the Basic Attention Token Network
The Basic Network Token (BAT) is an ERC-20 token, inherently built upon the Ethereum blockchain. As a consequence, BAT benefits from the robust security afforded by a rigorously tested proof-of-work (POW) consensus algorithm, which is reinforced by a vast and extensive network of Ethereum miners.
This consensus algorithm guarantees the validation of only legitimate transactions, while the collective effort of the Ethereum mining network renders BAT transactions virtually immutable once confirmed.
Where to Acquire Basic Attention Token (BAT): A Comprehensive Guide
The Basic Attention Token is presently listed on a plethora of prominent cryptocurrency exchange platforms, boasting exceptional liquidity. Notably, esteemed exchanges such as Binance, Coinbase Pro, and Huobi Global are among the most trusted venues for BAT transactions.
Similar to numerous cryptocurrencies, BAT can be acquired directly using fiat currency at a diverse range of brokers or exchanged for fiat assets on prominent platforms such as Kraken and Bithumb.
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