What is Basic Attention Token (BAT)?
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| Basic Attention Token (BAT) |
What is Basic Attention Token (BAT)?
Basic Attention Token, or BAT, is a token-powered, blockchain-based digital advertising platform designed to reward users fairly for their attention. while giving advertisers a better return on ad spend.
This experience is delivered through the Brave browser where users can view privacy-protected ads and earn BAT rewards for doing so. In return, advertisers can serve targeted ads to increase engagement and reduce traffic. Losses due to advertising fraud and abuse
Basic Attention Token is the reward unit in this advertising ecosystem. And there is an exchange between advertisers, publishers and users. Advertisers pay for their advertising campaigns in BAT tokens from this budget. A small portion is distributed to advertisers, while 70% is distributed to users — while intermediaries that often increase advertising costs are eliminated from the equation to improve cost efficiency.
The Basic Attention Token was launched in 2017 as one of the fastest selling initial coin offerings ( ICOs ) of all time, with the platform raising $35 million in less than a minute. since then It has introduced interest-based advertising experiences to users in most countries through the Brave Rewards program.
As of November 2020, United States, United Kingdom And Canada has the most active advertising campaigns.
Who is the founder of Basic Attention Token?
Basic Attention Token has two founders: Brendan Eich and Brian Bondy — two very prominent figures in the internet browsing software industry.
Brendan Eich is the CEO of Brave Software, Inc — the parent company behind the Brave browser and Basic Attention Token. Prior to Brave, Eich was the founder and CTO of Mozilla, and was the inventor of JavaScript in 1995. He also helped launch one of the most popular web browsers in the world - Mozilla Firefox in 2004.
Similarly, Brian Bondy joins Brave's CTO and Basic Attention Token Bondy is a highly experienced engineer. Working as a Senior Software Engineer at Mozilla, Software Developer at Corel Corporation and Head of Software Development at Khan Academy, both Eich and Bondy have over 50 years of combined software development experience.
In total, the Basic Attention Token website has 16 team members, many of whom have development, engineering, or research backgrounds.
What Makes the Basic Attention Token Unique?
The primary use case for Basic Attention Token is a payment token for running ad campaigns through Brave Ads. As of November 2020, advertisers are required to spend a minimum of $2,500 per month in ad spend before campaigns can be launched. But self-service platforms that may have lower limits are in the process.
Currently, this advertising budget is paid in Basic Attention Tokens, which advertisers can find on a variety of third-party exchange platforms . As a result, Brave earns a small commission. and the rest will be distributed to publishers and users.
One of the main notable features about Basic Attention Token and the Brave Browser ecosystem is the ability to reward users (tips) who are not yet part of the network. This includes the website and individual Twitter users. These users can safely register with the platform to collect their accumulated tips.
Both Basic Attention Token and Brave Browser have been well received by users since their launch. As of October 2020, Brave Browser has 20.5 million monthly active users, while Basic Attention Token has over 368,000 wallets.
How many Basic Attention Token (BAT) coins are in circulation?
Token base class has a total supply of up to 1.5 thousand tokens, cannot be increased without switching to a new token smart contract.
Almost all of this supply is in circulation today , so the Basic Attention Token is considered almost completely diluted.
In the 2017 ICO, 1 billion BAT tokens were sold to investors. While the remaining 200 million tokens are locked in the development pool and 300 million BAT is reserved for the user growth pool (UGP) as of November 2020, both in the development pool and at The UGP pool is almost empty.
How secure is the Basic Attention Token Network?
The Network Foundation Token (BAT) is an ERC-20 token. As such, it is built on the Ethereum blockchain. Like any ERC-20 token, BAT is secured by consensus algorithm Proof of Work (POW) that has been rigorously tested which It is backed by an extensive network of Ethereum miners.
This consensus algorithm ensures that only valid transactions are confirmed. Meanwhile, the Ethereum mining network interoperability ensures that BAT transactions are irreversible once confirmed.
Where can you buy Basic Attention Token (BAT)?
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