What is the Basic Attention Token? Comprehensive Guide to BAT

BAT or the Basic Attention Token, is a cryptocurrency that is aiming to solve a very specific, and well-known problem. The advertising industry is plagued by several issues, including, but not limited to advertiser fraud, user abuse, and abundant trackers causing slow load times, and a bloated user experience. Brave Software Inc. created the Basic Attention Token as part of their plan to redefined, and reshape how the internet treats users, serves advertisements, and collects user information.

The Benefits PRO's
  • Brave Browser is based on Chrome, so the user experience is familiar
  • Ever-expanding ecosystem (Reddit, Twitter, Website)
  • BAT has existed since 2015, and has a trusted track record
The Downside CON's
  • Potential ways to game the system
  • Technical barriers to adoption

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Disrupting the Status Quo

Currently, the model of internet advertising on the internet is as follows. Publishers pay the ad network to host advertisements on their platform. The ad-network provider and the publisher uses user data to optimize the advertisements. This way, you’re always receiving advertisements you’re likely to interact with based on your various interactions on the internet. The user does not get to choose whether or not they see ads, and receives no monetary compensation for the attention they give to the ad. Furthermore, whatever data is collected as a result viewing the ad, is monetized by the company, and you don’t receive a cut.

Brave Software Inc is creating an ecosystem of users, applications, and services fuelled by the Basic Attention Token and their signature web interface, the Brave Browser. By using the Brave Browser, users can opt into advertisements, and receive BAT as compensation for their time, attention, and data.

 

Brave Attention Token Ratings

Price:

All Time Low : $0.066209 USD (July 16, 2017)
All Time High : $0.980702 USD (Jan. 9, 2018)

Market Capitalization:

All Time High: $924,948,688
Current: $294,653,170

Supply:

Current : 1,421,086,562
Max : 1,500,000

Network Speed:

Low (15 – 30 Tx/s)

Disbursement:

Rating: Medium
Reason: The top 100 accounts own about 75% of the total token supply. Many of the top 100 accounts belong to exchanges, which aggregate the ownership of BAT from all of their users. More than 200,000 Ethereum accounts are holding the BAT, which makes it one of the most widely held tokens on the network.

Developer Engagement:

Rating: High
Reason: Brave Software Inc. is lead by the founder of JavaScript itself, Brendan Eich. Together with senior engineers from popular projects such as Mozilla, BAT has a team stacked with talented technicians, entrepreneurs, and marketers. Lastly, being a token hosted on Ethereum, BAT gets to piggy back off of the development efforts of Etheruem developers.

Liquidity

Rating: Medium
Reason: BAT is one of the more popular tokens in the world, as it has a legitimate use case, and millions of users. It is for this reason that many exchanges list BAT, and have provided trading pairs for liquidity.

History of BAT

The Basic Attention Token was launched in 2017, through an ICO (Initial Coin Offering) model wherein 1 billion tokens were sold in less than 30 seconds. The token sale was conducted by the company behind the token, Brave Software Inc. An additional 500,000,000 tokens exist in reserve, and is ready to be allocated to developers and users for community growth.

The founders of BAT are from other notable, privacy oriented projects such as the Mozilla and TOR browsers. Blockchain and cryptocurrency has enabled new features and paradigms to exist within privacy oriented browsers, and so the founders embarked on a new project aimed at “Fixing the web”.

In November 2019, Brave Software Inc released 300,000 BAT in the form of user grants celebration of achieving a cross-platform browser. The Brave Browser, integrated with BAT is now available on Android, iOS, Windows, and Linux. Brave captures a respectable market share of ten million users, allowing everyone to participate in the shared economy of advertising, publishing, and tipping.

Advantages of BAT

The main advantage of BAT is that you get paid to watch advertisements. This is in stark contrast to how every other advertisement network works. When viewing advertisements on the Brave network, you earn 70% of the share of what was paid to serve the advertisement. If you consider Google or Facebook within this conversation, you earn nothing from the advertisements you see on their platform, and get no compensation for the data collected.

Brave Software has since been integrating “tipping” options into various popular social media platforms such as Twitter, Twitch, Youtube, and Reddit. This only increases the value offering of the BAT. Users are earning BAT from browsing the internet, and Brave Software is providing more and more places to spend or tip your BAT to content creators.

Disadvantages of BAT

BAT is still in its early stages, and has several of the largest internet Goliath’s as competitors. While the mission of Brave Software is noble, and perhaps a more ethical approach to advertising, they are up against the momentum of “the way things have always been”.

The BAT is not a stable asset. It fluctuates in value like most other cryptocurrencies, therefore its unlikely that it can be relied upon as an income of any kind by content creators. YouTube does offer you a share of the advertisements served on your channel, and this is paid out in USD. This form of income is more predictable than what BAT is offering at this time. While you can just convert your BAT to a stable coin like DAI or USDT, this is far more advanced that what most beginners to cryptocurrency are used to.

BAT Frequently Asked Questions

About the Author

Keegan Francis, CryptoVantage

Keegan Francis

Keegan Francis is a cryptocurrency knowledge expert and consultant. He recognized the opportunity in cryptocurrency early in his career and has been invested in it since 2014. His passion led him to start the Atlantic Blockchain Company which consults on blockchain technology and cryptocurrency know-how.