Basic Attention Token Wiki ▷ What is BAT? Cryptocurrency & more!
As always, we advise you to be careful before making any cryptocurrency 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 blockchain. The project has been widely recognized as "The Future of Internet Advertising".
The problem at the moment: publishers and advertisers usually do not communicate directly with each other. An intermediary (middleman) pays a high fee to facilitate the sale of an ad (this is usually Facebook or Google). This hurts the profitability of both advertisers and publishers, as middlemen like Facebook and Google account for 73% of all advertising costs.
Many consumers are fed up with intrusive ads and have installed an ad blocker on their device. This trend in turn harms publishers through falling advertising revenues and can lead to a reduction in content quality for users.
The Basic Attention Token platform was created to introduce a new advertising system into the Internet. According to BAT, the solution is to create a decentralized, transparent exchange of advertisements based on the blockchain.
The Basic Attention Token gets its value from the attention of the consumer and thus digitizes it.
How does the BAT Coin
The BAT team's plan consists of two phases. The first involves integration with the Brave Browser. The Brave Browser blocks ads on all (unless the user agrees to watch them).
The Brave Browser has a blockchain ledger system that rewards website publishers with BAT for user attention. In addition, users are rewarded with BAT if they choose to turn on certain advertisements. This gives users complete freedom as to which advertisements they want to see, support their favorite advertisements and are even paid for them. Alternatively, you can use the Basic Attention Token for cash Exchanges to sell.
In the second stage, a decentralized, transparent digital ad exchange will be created on the blockchain. 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 must buy BAT in order to run their ads on the publishers' websites.
It also creates efficiencies for advertisers, which means they can produce more content that users actually want to consume.
Publishers can also choose to charge users Basic Attention Tokens to view premium content. This would further increase the demand and adoption of the cryptocurrency. The great thing about BAT is that the project is completely open source and testable, i.e. it is is transparent in your actions.
The Brave Browser & BAT
Brave browser facts:
· If you don't want to, you never have to see an ad again.
Brave blocks ad trackers - it won't slow your device down and protect your privacy.
A Fairer Advertising Ecosystem- Over time, BAT will reward you for choosing to run your ads.
· Supported Operating Systems - IOS Android, MAC, Windows and Linux.
How does Basic Attention Token integrate into the Brave Browser?
In the future, users of the Brave Browser who opt for BAT ads will receive a share of the advertising revenue, which will be credited to Basic Attention Tokens. At the moment, users cannot earn and cash out BAT for showing ads.
How do you activate advertising?
After installing and launching the Brave Browser, simply click the lion icon in the top right corner and select “Show Brave Ads” in the Ad Control section. This will enable ads for specific websites.
You can enable Brave Ads for all websites by going into Settings, selecting Shields and enabling 'Show Brave Ads'.
The Brave payment program determines the value of users and rewards website owners with BAT in exchange for user attention while using the browser. This means that if you spend a lot of time on a page, donations will reward the website owner.
How do I activate Brave Payouts?
Once you have the Brave browser installed, you will be redirected to the Brave homepage. Just scroll down and you will see a button saying 'Start using Brave payments'.
Simply switch the slider to "on".
You can then select the websites you want.
Click the "Add Funds" button and select the cryptocurrency that 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 be given a shipping address to process your payment and fund your BraveWallet.
The Basic Attention Token Team consists of 15 people and can fall back on the experience of four highly qualified consultants. For now we will only focus on the "BAT-Top-Brass":
Technical Director - Brian Bondy: He previously worked at Khan Academy, Mozilla and Evernote.
Security & Privacy Engineering - Yan Zhu: You already worked for Yahoo, the Tor Project, HTTPS Everywhere, and Privacy Badger.
BAT Smart Contracts & Economics - Scott Locklin: Scott is 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 user's mobile data is ingested by ads and trackers, costing users up to $ 23 per month.
· Ads slow down surfing and make it less enjoyable.
· Ads appear to shorten cell phone battery life by up to 21%.
· Increasing prevalence of malware
Websites keep track of all of our actions with trackers.
· Are exploited by middlemen like Facebook and Google who generate 73% of all advertising revenue.
· Bots generate billions of dollars in advertising fraud annually.
· 600 million users now use ad blockers, which burdens publishers' advertising income.
Marketers tie up marketing spend and don't know what they're paying for.
· Advertisers are exploited by fake websites and bots.
· Many users are shown irrelevant ads that are obviously ignored.
Now take a look at the BAT Roadmap to maintain your own opinion on the BAT Token:
The BAT ICO
The BAT ICO took place on May 1st, 2017. The project raised $ 24 million in just 35 seconds. The almost immediate sell-off at the ICO shows how much the project is supported by the cryptocurrency community.
The Basic Attention Token Team also provided information on the revenue breakdown:
BAT Team -58%
Administration - 10%
· Contractors - 13%.
· Contingent liabilities -7%.
Should you invest in basic attention tokens?
· BAT has a great team. Notable superstars include Brendan Eich and Yan Zhu.
There are major problems with the online advertising market and the likelihood 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 just seems right that users should opt in and out of ads and tracking. This also protects the user's privacy.
The online advertising market is huge, with experts claiming the current global market value to be around $ 560 billion a year. This market is also growing from year to year. There is no doubt that Basic Attention Token is targeting a very lucrative sector.
Coinbase CEO Brian Armstrong supports the BAT project on Twitter:
It remains to be seen what action advertisers will take when BAT gains attention. Companies like FB will certainly hold their own.
· Switching to the BraveBrowser will take longer than expected.
BAT is in a massive market and has to deal with many competitors. It remains to be seen whether the project will gain the upper hand.
How to Buy BAT
Take a look at this guide. We have put together a step-by-step guide with detailed instructions on how to buy Basic Attention Token (BAT).
BAT pursues one of the most lucrative markets in the world and wants to revolutionize it.
It seems that the publishers are coming under increasing pressure. We very much 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 BATmitz and to see how the Brave Bowser is accepted. It will also be interesting to see how partnerships can influence the development of the Basic AttentionToken.