Basic Attention Token Wiki ▷ What is BAT? Crypto currency & more!
As always, we advise you to be careful before making any crypto currency investments. We also encourage you to do your own research.
BAT is the abbreviation for Basic Attention Token. It is a transparent digital advertising platform based on the Ethereum block chain. The project was praised by many as "The future of Internet advertising".
The problem at present: publishers and advertisers do not usually communicate directly with each other. An intermediary (middle man) takes a high fee to facilitate the sale of ads (this is usually Facebook or Google). This harms the profitability of both advertisers and publishers, as intermediaries such as Facebook and Google account for 73% of all advertising costs.
Many consumers are fed up with obtrusive ads and therefore installed an adblocker on their device. This trend in turn harms publishers by reducing advertising revenues and can lead to a reduction in the quality of content available to users.
The Basic Attention Token platform was created to introduce a new advertising system on the Internet. According to the BAT, the solution is to create a decentralized, transparent exchange of advertisements based on the block chain.
The Basic Attention Token gets its value from the attention of the consumer and thus digitalizes it.
How does the BAT Coin
The plan of the BAT team consists of two phases. The first phase includes the integration with the Brave Browser. The Brave Browser blocks ads from being displayed in a conspicuous place (unless the user agrees to view them).
TheBrave Browser has a block chain ledger system that rewards website publishers with BAT for user attention. In addition, users are rewarded with BAT when they choose to display certain ads. This gives users complete freedom to choose which ads they want to see, support their favorite ads and even get paid for them. Alternatively, you can sell the Basic Attention Token to Exchanges for cash.
In the second stage, a decentralized, transparent digital display exchange is created on the block chain. This serves as a marketplace for advertisers and publishers, eliminating the annoying middleman and creating efficiency. This exchange requires a new currency for user attention, and this is where BAT comes in. This means that advertisers have to buy BAT to place their ads on publishers' websites.
It also creates efficiencies for advertisers, allowing them to produce more content that users actually want to consume.
Publishers can also choose to charge the User Basic Attention token to display premium content, which would further increase the demand and the introduction of the crypto currency The great thing about BAT is that the project is completely open source and auditable, meaning it is transparent in its actions.
The Brave Browser & BAT
- You will never (unless you want to) have to see an advertisement again.
- Brave BlocksAdvertising Tracker - Your device will not slow down and your privacy is protected.
- A fairer advertising ecosystem- Over time, you will be rewarded in BAT if you choose to advertise.
- Supported operating systems - IOS Android, MAC, Windows and Linux.
How does Basic Attention Token integrate with the Brave Browser?
In the future, Brave Browser users who opt for BAT ads will receive a share of the advertising revenue, which will be credited in Basic Attention Tokens. At this point, users will not be able to earn and pay out BATs for displaying ads.
How do you activate advertising?
Once you have installed and started the Brave Browser, simply click on the lion icon in the upper right hand corner and select "Show Brave Ads" in the Ad Control section to activate ads for specific sites.
You can activate Brave Ads for all websites by going to the settings, selecting Shields and activating 'Show Brave Ads'.
The Brave payment program determines the value of users and rewards website owners with BAT in exchange for the attention of users while using the browser. This means that if you spend a lot of time on a page, the site owner is rewarded by donations.
How do I activate Brave Payouts?
Once you have installed the Brave browser, you will be redirected to the Brave homepage. Simply scroll down and you will see a button to 'Start using Brave payments'.
Simply switch the slider to "on".
You can then select the desired websites.
Click on the "Add Funds" button and select the crypto currency you want to transfer. Please note that at the moment you can only transfer money to publishers and cannot make deposits into your crypto-wallet.
You will then receive a shipping address to process your payment and fund your BraveWallet.
The Basic Attention Token Team consists of 15 people and can rely on the experience of four highly qualified consultants. At the moment we will only focus on the "BAT-Top brass":
Technical Director - Brian Bondy: Previously worked at theKhan Academy, Mozilla and Evernote.
Security & Privacy Engineering - Yan Zhu: She has worked for Yahoo, the Tor project, HTTPS Everywhere and Privacy Badger
BAT Smart Contracts & Economics - Scott Locklin: Scott is a co-founder of Kerf Software, which focuses on big data and solving analytical problems. Scott also focuses on machine learning, forecasting and quantitative finance.
The future of the BAT-Token
It is quite obvious to us that the current advertising model only benefits the big middlemen like Facebook.
- Up to 50% of the average mobile data user is taken up by ads and trackers, costing the user up to $23 per month.
- Displays slow down the surfing and make it less pleasant.
- Apparently, displays shorten the life of the mobile phone battery by up to 21%.
- Increasing spread of malware
- Websites track all our actions with trackers.
- Are exploited by intermediaries like Facebook and Google, which account for 73% of all advertising revenue.
- Bots cause billions of dollars in advertising fraud every year.
- 600 million users use Adblocker in between, which burdens the advertising revenues of publishers.
- Marketers tie up marketing spend and don't know what they are paying for.
- Advertisers are exploited by fake websites and bots.
- Many users are shown irrelevant ads, which are then obviously ignored.
Now take a look at the BAT Roadmap to be able to maintain your own opinion about the BAT Token:
The BAT ICO
The BAT ICO took place on 1 May 2017. The project generated 35 million dollars in just 24 seconds. The almost immediate sell-out at the ICO shows how strongly the project is supported by the Cryptomonetary Community.
The Basic Attention Token Team also provided information on the revenue breakdown:
- BAT Team -58%
- Administration - 10% of
- Marketing -12%
- Contractor - 13%.
- Contingent liabilities -7%.
Should one invest in Basic Attention Token?
- BAT has a great team. Among the remarkable superstars are Brendan Eich and Yan Zhu.
- There are big problems with the online advertising market and the probability that the current system will not last long is high. We believe that BAT offers a potential solution.
- We like BAT as a system that puts users back in control. It seems only right that users should sign in and out for ads and tracking. This also protects the privacy of the users.
- The online advertising market is huge.experts claim that the current value of the global market is around 560 billion dollars per year. This market is also growing year by year. There is no doubt that Basic Attention Token is targeting a very lucrative sector.
The CEO of Coinbase, Brian Armstrong, supports the BAT project on Twitter:
- It remains to be seen what measures the advertising intermediaries will take ifBAT gains attention. Companies such as FB will certainly prove their worth.
- Switching to the BraveBrowser will take longer than expected.
- BAT operates in a massive market and faces many competitors. It remains to be seen whether the project will gain the upper hand.
How to buy BAT?
Take a look at these instructions. We have put together a step-by-step guide with detailed instructions on how to buy Basic Attention Tokens (BAT).
BAT is pursuing one of the most lucrative markets in the world and wants to revolutionize it.
It seems that publishers are increasingly under pressure. We sincerely hope that BAT will improve the online user experience while giving advertisers a fair advertising opportunity.
The Bitcoin-News.one team is happy to follow the progress of BAT and to see how the Brave Bowser is received. It will also be interesting to see how partnerships can influence the development of the Basic Attention Token.