The price Basic Attention Token today is 0.644152 USD, and the trading volume in 24 hours - 242,585,818 USD. The crypto asset has grown by -2.22% over the day. Currently, the coin’s market capitalization is 960,011,101 USD, and has 1,490,348,708 coins in circulation with the max supply of 12,699,069 coins BAT.
What is a Basic Attention Token (BAT)?
Basic Attention Token is a digital advertising token that runs on the Ethereum blockchain. The BAT ecosystem is a decentralized, open-source platform for advertisers, publishers, and users who believe that modern digital advertising is rigged in favor of intermediaries and big players like Facebook or Google. The project was launched in response to the growing monopolization of the advertising business, as a result of which publishers and users find themselves in the zone of responsibility.
It also aims to fix other digital advertising problems, such as the violation of user privacy and the increase in the number of cases of advertising fraud. The BAT token allows you to get rewarded for viewing ads on the network, while publishers can have more direct access to their revenue with the removal of intermediaries. The last link in this chain is advertisers in the BAT ecosystem, which provides them with insightful analytics to better manage and target their ad campaigns.
What is unique about the Basic Attention Token (BAT)?
The key problems in the digital advertising market that BAT is trying to fix are actually affecting three major players in this market:
In the case of users, the main problem identified is the violation of their privacy and unwanted tracking of their online activities. The reason for this is that intrusive advertising placements initially did not bring benefits when it came to revenue. These ads continued to annoy users as they often didn't match their interests and were difficult to avoid. As the number of clicks on these ads fell along with revenue, companies responded by collecting users ' personal data and checking their browsing history without prior permission.
To counter this, the Basic Attention Token platform was designed with a comprehensive approach in mind, designed to help all parties in the digital advertising industry chain. The process begins with tracking the level of user engagement when interacting with digital advertising, and storing the relevant data in a distributed registry on the BAT platform. The main unit of measurement here is the mental engagement or "attention" of the user invested in viewing digital advertising content.
Brave will still anonymously track the user's interaction (i.e. attention) in an anonymous and secure manner using the blockchain, but this type of" tracking " will not involve the transfer of this data to third parties who seek to profit from it. Instead, the user's personal information and collected data about what their attention is most focused on will be stored only on the user's device. Brave is the first browser integration of BAT technology, and the ultimate goal of developers is to integrate the BAT system with all major browsers - Chrome and Firefox.
Who is the creator of WAT?
How many BAT tokens are in circulation?
Due to its very specific purpose and usage, BAT tokens cannot be mined. Tokens were offered as part of the ICO, which took place in May 2017, and their total number was fixed at the level of 1 500 000 000 BAT. A third of the tokens were stored by the BAT team for use as grants to promote the token and develop user growth pools. After these pools are exhausted, no more tokens will be created. In February 2018, the BAT team launched a referral scheme that rewards publishers with BAT tokens if they manage to attract new users to the platform.
As of January 2021, there are almost 1.5 billion BAT tokens in circulation.
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