Recently, Coinbase mentioned they are exploring some coins, and Basic Attention Token (BAT) was to the world’s surprise mentioned even for the fact that the platform raised $35 Million in seconds during it ICO.
Some had even said the coin is worthless, maybe because they do not understand how valuable the digital currency is to the society.
In this wise, Today’s Gazette deemed it necessary to open the eyes of the crypto society to what BAT is.
Are you an advertiser who seeks a better and more secure platform for advertising? Are you a publisher who craves a better audience target? Are you a user who is attention based?
Have you ever wished for a decentralized digital advertisement platform of exchange? Wish no more. Basic Attention Token is the way to go.
What is Basic Attention Token (BAT)?
Basic Attention Token (BAT) is a decentralized digital advertising exchange which is based on the Ethereum Blockchain. BAT ensures transparency in the area of Digital Advertisement.
Formed on the basis of openness, BAT held its initial coin offering on the 31st of May, 2017 for its ERC, eponymous utility token, remarkably raising close to $35 million in just about 30 seconds at that time.
The design of BAT is to value correctly and price user’s attention on the platform.
BAT wholly perks up the effectiveness of digital advertising by bringing into being, a token that can be traded by advertisers, publishers, and users on the Ethereum Blockchain.
With its utility based on user attention which essentially means a user’s point of interest, Basic Attention Token can be used to purchase a wide range of advertising services, alongside attention based services.
In essence, Basic Attention Token pays users for attention, publishers for content and ensures that advertisers get more in return for advertisements.
How does Basic Attention Token work?
Basic Attention Token has had its elements integrated into the Brave web browser forming part of its payment program and this lets users tip publishers with tokens for patronage services.
It is expected that Brave put in action, the BAT adverts which are designed program. The program is scheduled to pay users in BAT for their viewing of advertisements, serving as a form of reward for their attention.
The Brave browser is an open source, privacy-focused and fast web browser that passes well in blocking malware and trackers. The browser has a system that discretely commands the user’s attention, forming a reward basis for publishers.
Basic Attention Token is however not limited to the Brave browser as it is expected that it will form an integral part of other browsers and applications in coming months.
BAT and BRAVE together
The Brave browser’s ability to know sites where users spend more time is a mainstay in its use as a tool for calculating rewards in the form of BATs for publishers, creating an open and effective a digital advertising market that is based on Blockchain.
This process ensures that publishers get to make more revenue as there is a significant reduction in the likelihood of fraud and the interference of intermediaries.
Advertisers get a better audience and users receive a lesser number of ads as ads they will receive are better directed, and there is a great reduction in malware attacks.
What problem is Basic Attention Token solving?
It is no news that the digital advertising industry is one industry that is permeated by fraud, agents, and interceders, ensuring that users get exploited, publishers remain fazed, and advertisers run at a loss.
Basic Attention Token solved for users, the problem of mobile data wastage as it has been found that ads use up to 51% of the user’s mobile data. It also lessens the average mobile load time.
There is also maintenance regarding user’s phone battery life, and there is an increased sense of privacy. The ever-present problem of malware is also taken care of.
For publishers, there is increased security from fraud alongside stable revenue conditions.
With Basic Attention Token, publishers can reach and display content to attention based users. Basic Attention Token also provides for publishers a seamless system for monetizing value-added services.
Advertisers are provided with good information on purchased services which helps them improve on the utilization of the services they purchase.
There is an improvement on the targeted audience as content display is based on user attention or interest.
Generally, Basic Attention Token makes for a safer digital advertising industry.
BAT’s cryptocurrency is currently valued at $0.329586 and has seen its total market capital exceed $329,586,000.
The token is now also accepted by a number of publishers including; Washington Post, The Guardian, MarketWatch, Barron’s and Vice.