Basic Attention Token (BAT) price

What is Basic Attention Token?

The Basic Attention Token service aims to improve digital advertising by creating an exchangeable token (BAT on exchanges) that can be traded between users, publishers, and advertisers.

BAT was created by Brendan Eich, the renowned creator of JavaScript and co-founder of Mozilla and Firefox. Eich believes that the current digital advertising system only benefits the middlemen is inefficient. The Basic Attention project intends to tokenize human attention on the internet via a digital advertising platform based on Blockchain technologies.

BAT is based on the Ethereum Blockchain. It functions as BAT payments made by advertisers to website publishers for the attention of users. Users also receive a BAT reward from the advertisements being shown to them. BAT aims to make digital advertising more transparent by using the Blockchain. BAT tokens can also be used to purchase advertising and other attention-based services on the Brave platform. 

Brave’s BAT platform allows web content consumers to pay web content creators easily. The BAT Token ledger integrated into the Brave Browser will play a role similar to Google’s Contributor program.

The BAT has been in development, and the Brave team has been signing up web publishers and end-users for some time. Before the implementation of the platform, the payments that users make to content creators are based entirely on the unique domains visited. Using the service, individual YouTubers can sign up and take part in the platform, and users can fund specific channels of their choosing. It even works outside of YouTube.

Once a YouTube creator completes the verification process and opens an account with Uphold, they are eligible to begin collecting monthly BAT contributions from their audience. BAT contributions are automatically converted to fiat currency and transferred into the creator’s bank account.

According to Brave, users can contribute their BAT tokens (as is the case with other online publishers), “based on the time they spend viewing material or by “pinning” a set amount for a particular channel.” Signing up is simple, and one clear advantage that Brave has is that creators with smaller channels that don’t yet qualify for monetization could begin earning a small amount using this platform.

The BAT crowdsale was intended to be held from May 31st, 2017 till June 30th, 2017 but it actually ended in just 24 seconds, which ranks it as the fastest ICO in history. In this short time, the BAT project raised a total capital of $36M. 

How It Works

The Brave browser monitors user attention and then rewards publishers with BATs according to Attention paid to ads in the browser’s active tab in real time. The system calculates an “Attention Value” for each instance of an ad, based on the ad duration and pixel size in view proportional to relevant content, before any direct user interaction with the ad. More cost-per-action models will be added as the system develops.

Users who do view ads will also be rewarded with BATs which can later be exchanged for premium content and services on the platform.

On the BAT platform, advertisers will receive the largest share of the total ad revenue. Users will also have the option to donate back tokens to publishers if they want.

The ANONIZE algorithm will be used to protect Users’ privacy. Fraud will be prevented by keeping source code open and by publication of cryptographically secure transactions.

Most of the infrastructure necessary to deploy BAT at the back end is code complete. The Brave Browser is available for Windows, Mac OS, and Linux.