What is Basic Attention Token BAT?
Basic Attention Token hopes to tackle these problems and mitigate the privacy and tracking concerns of users by using blockchain technology based on Ethereum. The distributed ledger system underpinning it collects certain tracking data via the Brave browser to help improve the efficiency of ad targeting while keeping all personal information secure and private. The digital advertising landscape has become an over-saturated, inefficient market with a few big players such as Facebook or Google retaining the lion’s share of the revenue. Publishers have had their ad revenue dramatically decrease as these large companies bring down the price of information and pocket a huge portion of the advertising profits. ‘Brave’ is a new style of browser that protects a user’s privacy by blocking ad trackers and malware. By removing ads in this way, while offering a simple interface and different search engine options, the Brave browser provides a faster, safer way to browse the internet.
How do I turn BAT into cash or gift cards? What else can I do with BAT?
basic attention token browser may choose to send BAT micropayments to websites and content creators within the ecosystem. Site owners and creators must first register with Brave as a publisher. Users can either turn on auto-contribute, which automatically divides a specified monthly contribution in proportion to the time spent, or they can manually send a chosen amount while visiting the site or creator. In addition or alternatively, users may withdraw their BAT to a verified Uphold or Gemini wallet.
- The relationship between the advertisers, users, and content publishers is summarized below.
- It lets users swap Ethereum tokens for other tokens from within the browser.
- Simply engage with these notifications, view the ads and you will earn 70% revenue share from the viewed ad, while Brave only receives the remaining 30%.
- There is another option on how you can buy Basic Attention Token at CEX.IO.
Often with paywalled websites, the average user will choose not to pay the subscription fee. This can be due to the cost or that the user only needs to access a small section of the website. The exchange rate with Ethereum is 6,400 BAT per ETH to allow this. Designed to handle microtransactions, this enables the generation of revenue for all parties involved, especially the user, without significant cost.
Brave browser collecting donations on behalf of content creators
The browser had been available before that in a beta release but the Brave 1.0 release first introduced Brave Shields, Brave Ads, and Brave Rewards. In March 2021, BAT became available on the Binance Smart Chain in the form of wrapped BAT. These tokens are wrapped by Binance and the original BAT is held in “Token Vaults” with Binance. In an initial coin offering on 31 May 2017, Brave sold one billion BAT for a total of 156,250 Ethereum ($35 million) in less than 30 seconds. An additional 500 million BAT was retained by the company to be used to promote the adoption of the platform. Tor – Brave offers Tor, .onion, and Tor bridges support in its desktop version.
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For instance, you can buy Basic Attention Token with a debit/credit card, international , domestic bank transfer, and online wallets . However, you can pay for BAT purchase with your bank card issued in any currency. As a result, Brave browser users are rewarded by BAT coins for watching ads while publishers receive the revenue directly without the need for middlemen. BAT coins can be used in the browser for donations, premium articles, and other services. Basic Attention Token is a blockchain-based coin that is used to stimulate advertising viewing by Brave browser users.
You can tip creators with the tip button next to the URL bar even if they’re not Brave users. In order to claim tips they’ll have to sign up to Brave Rewards as a verified creator, at which point they can collect any earnings in the Creators dashboard. As an ERC-20 token, Basic Attention Token is built on the Ethereum blockchain and secured by a proof of work consensus algorithm, which is supported by the network LTC of Ethereum miners. Buying and selling Basic Attention Token , or exchanging it for any other cryptocurrency, is done in mere moments when you choose our secure platform as your storage solution. Basic Attention Token has a total supply of 1.5 billion BAT tokens, almost all of which is currently in circulation.
Importantly, Brave has an in-built crypto wallet that gives every user access to its cryptocurrency. Running on macOs, Windows, Linux and Android, its user base surpassed 36 million users in 2021. The Basic Attention Token is a cryptocurrency built on the Ethereum blockchain and the native token of Brave browser. If you enable ads on the browser, you may earn up to 70% in ad revenue in the form of BAT.
The BAT can be automatically donated on a monthly basis to your most visited sites, or used to tip favorite content creators or friends. Soon, you will also be able to use BAT for premium content, as well as redeem it for real-world rewards such as hotel stays, restaurant vouchers, and gift cards. Brave is also working on an option to let users withdraw BAT from their wallets for personal use, converting their BAT to a local fiat currency through exchange partners. Users will experience fewer ads and content that is better tailored to them. And advertisers will be able to better target particular users based on documented user content preferences and interests.
Where can you purchase Basic Attention Token (BAT)?
Basic Attention Token (BAT) has been listed on many crypto exchanges which include Binance, OKX, Bybit, BingX, and XT.COM
You may then exchange BAT for cash, trade it for other cryptocurrencies, hold it in your digital wallet, or pay it forward by tipping content creators. As well as users and content creators benefiting from advertisements, there is another use case built into Basic Attention Token. This donation comes in the form of BAT that the users receive for their attention. This is another way for websites and creators to monetise and there is the potential for this to expand in many ways. Underpinning all of this is Brave browsers native cryptocurrency, BAT.
It supports all EVM compatible chains (Polygon, xDai, Avalanche, etc.) and L2 chains. The Brave Wallet support is limited to Desktop browser, but is planned to be extended to mobile browsers. In addition, Brave Wallet can be used to store non-fungible tokens.
The showed a lot of promise with its highly successful ICO and a talented and experienced team led by Brendan Eich. It solves a lot of the issues present in the mainstream digital advertising industry, such as ad fraud, and creates an improved browsing experience for users while better serving advertisers and creators. Brave is an open source privacy-focused browser that blocks all unnecessary ads and trackers by default with Brave Shields. It also anonymously measures user attention with a built-in ledger system to improve users’ advertising experience. This is done by calculating the amount of time each advertisement is viewable to a user as well as the number of pixels they can see. The BAT cuts intermediaries out of the publishing processing and instead, allows advertisers to pay publishers directly — increasing the percentage yield publishers receive.
What is Basic Attention Token (BAT)?
Basic Attention Token (BAT) is the utility token of an Ethereum-based digital advertising platform launched by the Brave browser. BAT was launched as an ERC-20 token in 2017.