What is BAT and what does it stand for?
BAT stands for “Basic Attention Token”. This is about an Etherium-based token which works as an interchange cryptocurrency within a blockchain used as an advertising system. The web browser Brave is part of this ecosystem in which every user is tracked privately and the publisher are rewarded with BATs. Users and publishers (content creators) also can get those tokens as rewards for participating in the system.
When was BAT launched as an ICO?
ICO: Initial Coin Offering
BAT was launched in May 2017 by Brendan Eich who was the co-founder and the creator of the Script Code of Mozilla web browser. In that ICO, they could raise more than $ 35 million and it was a great successful fundraising.
What does BAT represent?
BATs are tokens within an advertising digital platform. However, this token does not represent a security or commodity (asset backed) but a utility, because it is useful for users, publishers and advertisers within that platform and it could have a value in exchanges to be traded with other cryptocurrencies and fiat currencies.
Brave and BAT: a new way of web browsingSource: Basicattentiontoken.org
Brave considers that we should browse faster, more secure and privately without having undesirable ads. Brave is on a mission to fix what it believes is a broken web
Ads are everywhere. They follow you from site to site, collecting personal information, tracking your browsing activity, cluttering up content. All the while slowing you down
The average person downloads more than 2000 ads and trackers every day. Brave wants to change that. They believe your web browsing data shouldn’t be collected without your permission. Yes, indeed, our information is packaged into a profile, and sold to the highest bidder to be used for even more advertising.
Instead, Brave believes it can make the web faster, more secure, and more private without intrusive ads. To accomplish this vision, Brave has built a new web browser for phones and computers, the Brave browser and an Etherium-based token, or BAT.
The Brave browser blocks ads and trackers that compromise your privacy. To help websites make up for lost revenue, Brave makes it possible to acquire BAT and give it directly to your favourite sites. Or you can enable Brave rewards, which serves ads that don’t collect or sell your data.
When you opt into brave rewards, the sites you visit are paid in BATs. And you’re rewarded too for paying attention to the ads. It’s a win for everyone. Except for all those third-party ad trackers, of course.
Brave: an unique web browser
Brave is an open-source web browser which is free and has unique characteristicsSource: Hackeandoelgenoma.com
It blocks ads automatically, so browsing the web is faster and less cluttered. With Brave, you also won’t be tracked from site to site by advertisers. So your web browsing stays private. If you want even more privacy, Brave also allows you to open a private tab with TOR for truly anonymous browsing. Brave supports all of your favourite chrome extensions too, so Chrome extensions work right out of the box without any connection to Google in the background.
What makes Brave really unique though is “Brave Rewards”. You can opt into Brave Rewards to directly support publishers and content creators while you browse the web. And the user can earn rewards by viewing private ads that aren’t tracked. Brave Rewards will notify you of offers as you browse. When you click an offer, a full-page ad opens in a private tab. You get to enjoy clutter-free content, while earning rewards from viewing private ads. In exchange for paying attention to these ads, Brave rewards you with its own Etherium-based tokens called Basic Attention Token (BAT).
You can pass along your BAT to rewards content creators, purchase premium subscriptions and much more. The more you browse with Brave, the more you earn and support your favourite creators.
How does BAT work?
It works with Brave, a new web browser built for privacy, and a safer, faster internet experience. BAT was created for consumers, publishers and advertisers. Consumers get paid for viewing opt-in private ads. Publishers get rewarded when consumers pay attention to their content, and advertisers get access to an audience that has opted into seeing their ads. To use BAT, just download Brave and switch on an optional feature called “Brave Rewards”. If you opt-in, you will receive ads that don’t compromise your privacy. Brave also blocks all the other ads that track you or can infect your computer or mobile with malware.
The Basic Attention Token is an Ethereum-based token that is designed to improve digital advertising on the web
When you consent to viewing ads on Brave, you earn BATs as compensation for your attention. Your favourite websites and content creators also get BATs as a reward for creating content you want to browse. 70% of the advertising revenue goes to the viewer.
That’s a big change from today’s ad ecosystem, where users are like products and they don’t receive nothing. Once you collect some BATs, you can donate it to the creators you love, for example, a favourite blogger, band, podcaster, or news site, allowing them to get paid more for their creative content. To make a donation, we can tap the BAT icon in the Brave address bar and select how much you want to send. That’s it.
In the future, the Brave team hopes to bring BAT beyond the web browser, into chat apps, social tools, games and more. In that way, Brave aims to build more than a better web. It intends to build a better, safer, and more equitable digital world.
Marketing performance of BAT token.
Since BAT was launched in May 2017 when it started with a value of about 16 cents of dollar, the token has had many ups and downs but currently it enjoys a ROI (a Return On Investment) of 115.58% and in the last 3 months it has an increase of over 72% following the trend of many other Etherium-based tokens, as we can see in the graph below.
It is also interesting to see that the circulating supply (the tokens that are in circulation) is very close to the total supply, as we can be seen in the table below, there are 1.46 billion out of the 1.5 billion of total supply.Source: CoinMarketCapSource: CoinMarketCapSource: CoinMarketCap
Its FCAS marker shows a financial token health of 868 out of 1000 which is very close to cryptos such as 0x (ZRX) (see the article on 0x protocol) and Zcash (ZEC)(see the article on Zcash). The factors that support this remarkable value are the good market opportunities where the token is developed, the highly qualified technical team, its good progress of the roadmap and the token economy system on which it is based, aspects that exceed a score of 8 out of 10.
In short, this is a token with a very promising potential that is developing in a multi-million dollar market and aims to give this market a protection for its users and a better redistribution of benefits among all its agents and users.
We recommend you to read again our article of the Top 5 cryptocurrencies for 2020-21 in which list BAT appears as one of the best that is expected to experience a good market performance.