Basic Attention Token (BAT): cryptocurrency and platform review, online rate and chart, forecast, prospects

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Basic Attention Token is a means of increasing the efficiency and convenience of digital advertising and a token used for interaction between publishers, users and advertisers. It is based on the Ethereum blockchain. Using the BAT token, you can pay for advertising and get the attention of users on the site. The value of a token is determined by how focused people are on content. You can buy BAT token on crypto exchanges, for example, Binance, OKEx or FTX.

Price BAT to USD

Name Price Market Cap Supply Change % (7D) Performance
1 Basic Attention Token

BAT to USD chart

BAT / USD chart

Price chart of Basic Attention Token (BAT) in real time the Binance exchange.

Information

Indicators of the Basic Attention Token cryptocurrency as of December 24, 2021:

Whitepaper

NameBasic Attention Token
TickerBAT
Capitalization$1 769 835 206
Course$1.18
Current issue1 493 864 568 BAT
Maximum emission1 500 000 000 BAT
Websitehttps://basicattentiontoken.org/
Blockchain Explorerhttps://etherscan.io/token/0x0d8775f648430679a709e98d2b0cb6250d2887ef
Road maphttps://basicattentiontoken.org/BasicAttentionTokenWhitePaper-4.pdf
Twitterhttps://twitter.com/AttentionToken
ExchangesBinance, FTX, BitMax, Coinbase, etc.
Launch year2017

What is Basic Attention Token (BAT)

BAT is a token for decentralized exchange of ads. It pays the browser user for the time they spend while protecting their privacy.

The main goal is to eliminate the economic and social costs that are currently observed in the field of digital advertising, for example:

✅  fraud;

✅  violation of confidentiality;

✅  malicious ad units.

BAT payment system protects and rewards the user, while providing advertisers with higher conversions and publishers with profitability. If it is possible to solve thereby some of the problems of monetization, then such a method can become an element of modern web standards.

Description, history of creation

BAT was invented to pay for the functionality of the new Brave web browser. The creator is the programmer Braydon H, who also founded JavaScript and the Mozilla browser. On May 31, 2017, the ICO of the project took place, which took only half a minute, 130 people took part in it. Of course, the rest were offended, the project was covered with a wave of criticism on the network.

However, the BAT project, along with the Brave browser, is quite interesting as it tries to solve some of the fundamental problems that exist in digital advertising today.

For example, with each passing day, consumers are becoming more aware of how their data is being used by social networks such as Facebook. This is evidenced by the growing demand for ad blocking software that runs on more than six hundred million smartphones and computers worldwide.

It is becoming increasingly difficult for the industry to align the relationship between advertisers, publishers and end users. The advertising ecosystem exploits users’ personal data. It also spends a lot of money on engagement reporting.

The demand for BAT will be formed depending on the following factors:

  1. Advertisers pay publishers in tokens to get their ads across to users.
  2. Users earn BAT for viewing ads. Attention is tracked in the Brave browser using machine learning technology (personal data always remains on devices and is not used for personal gain).
  3. Advertisers are getting good returns as a result of the increased level of accuracy.

Feature, technical implementation

The Brave Browser takes a unique approach to measuring attention – it tracks user interaction in a selected tab in real time, displaying specific ads based on the time spent scrolling through the content in the tab.

The browser sets an “attention rating” based on whether the page has been viewed for at least 25 seconds and the total amount of time spent on the page. Other data (such as the type of content viewed) is included and sent to the Brave Ledger system, which records and sends payments to the publisher and user based on the total attention score.

This process allows BAT to more effectively measure user attention and accurately reward them and publishers.

Determining the value of BAT:

The use of machine learning provides a high-quality user activity tracking process, allowing you to share more relevant ads.

This approach will solve another of today’s problems of digital advertising services – when the user is shown an advertisement for a product that he has already bought, based on information, for example, from cookies.

Wallets

BAT belongs to the ERC-20 standard and can be stored in any wallet of this type, for example, Myetherwallet or MetaMask. Also, the functionality for working with your account is provided directly in the Brave browser.

Mining BAT

In total, 1.5 billion coins were issued, their mining is impossible and an additional issue is also not planned. But there are several ways to get coins – buy them, earn by watching ads.

Advantages and disadvantages

Pros:

✅  BAT may well replace intermediary ad exchanges with a transparent, decentralized network where publishers, advertisers and users can perform their functions more efficiently.

✅  Extensive team experience, participation in other serious projects.

✅  The Brave browser is fast.

✅  Confidentiality and anonymity are maintained.

Cons:

❌  BAT is suitable for people who agree to use the Brave browser. But now there is too much competition from Google Chrome, Safari, Firefox and other popular browsers. We are talking about creating a Brave extension for Google Chrome, but there are no specific developments yet.

❌  Successful and relevant advertising does not yet guarantee sales. Most of the Basic Attention Token users will be people who: want to earn extra money by watching ads, are looking for a fast browser, want to save money on mobile traffic, etc. And people who need to earn money by watching ads usually do not have the opportunity to buy the advertised goods or services.

Therefore, it is not clear how effectively the system will work for advertisers and whether they will be able to increase sales in this way.

Prospects and forecast

The Basic Attention Token project itself seems promising: many are interested in a fast browser, even if advertising itself is not of interest to them. Advertisers get a good opportunity to analyze audience behavior.

The developers do not stop there – many more innovations are planned, each of which will invariably affect the rate of the BAT cryptocurrency.

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