- What is a Basic Attention Token
- Basic Attention Token – BAT
- Brave.com
- Invest & Buy BAT
What is a Basic Attention Token – Advertising reinvented
The idea of the Basic Attention Token (BAT) project is to use cryptographic tokens to create a more transparent and efficient advertising market where user´s attention can be tokenized. BAT reinvents the way users, publishers and advertisers interact. But how deep can this project disrupt the billionaire online advertising industry? Is this project even a threat for Google?
Google main advertising products work in the freemium model – free internet tools for the users that in exchange give away their personal data that google will sell to advertisers. So the user really is the product. This business model made google the giant that we all know.
In the other side, Brave.com (the brownser ) and BAT together are trying to protect the user´s data and privacy ( wich google is selling) and paying directly to the internet users (for wathing ads) and to the content creators for creating content! All you need to do is use Brave and start earning BAT.
This project is using two main tehcnologies. The first one is the descentralized add platform that is running on ethereum network and monetized trought BAT. The other one is the capability of perserving your privacy trought Brave.com. But lets go by parts:
The Basic Attention Token – BAT
Both Brave browser and BAT projects are developed by a company called Brave Software, based in San Francisco, USA, founded in 2015. BAT is the native token from Brave ecosystem and can be used to pay content producers across several platforms ( youtube, twitter…), to serve adds on Brave brownser and of course, to trade. The future of BAT is linked with it´s utility and in this point the project still has a long way to go.
Regarding the technology, BAT was built on top of ERC-20 network and “is secured by a rigorously tested proof-of-work (POW) consensus algorithm supported by an extensive Ethereum miner network”.
The real porpuse of BAT is to provide a digital advertising solution using the tokens to create a more efficient and transparent advertising marketing by offering BAT as a “currency” of exchange for th ad industry and a web 3.0 enabled browser. The BAT token can be used to transfer value between publishers, advertisers and users. Users are paid for their attention as they see ads in a way that perserves their privacy, publishers can increase their revenue and advertisers could aim to achive better ROIs and better data.
By changing the role of the agents in this business equation BAT is switching the ownership of personal data from companies like google, FB, etc…, directly to the user. BAT tokens compensate for the user attention. Advertising is performed locally and P2P in the browser. The data is stored trought BAT Tokens locally and not sending data to any of 3rd parties servers or software. And, and this can really be a game changer, with BAT you dont anymore a third-party tracking service and all the metrics are available for advertisers wich can improve the efectiveness of the marketing campaings.
BAT can be transfered P2P between users, can be used to tip publishers and content creators and advertisers can use it to pay for users attention and for pusblishers services and webspace. So we have a token and a digital advertising platform built on blockchain but we still need the face to the internet.
BAT is one my favourite cryptos because one sigle factor: is easy to understand how it works as we navigate the Net with Brave Browser. Brave is the face of the amazing propose of value that BAt is trying to build and the frontend of a much deeper Web 3.0 Revolution.
Even if you dont care about cryptos there is one huge catch here: Brave is a real alternative for chrome and im going to explain you why:
1. Brave Browser is much, but much lighter than google chrome for your PC. This, you you can test it right now, just download the browser for your machine and see for yourself the difference on CPU, memory and disk resources consumption. Now you can use that old pc just to navigate te web or to farm something.
2…while earning money or to be more exact: BATs. The Token economy created by brave and bat, where users get paid for watching advertisement and creators and werbsite owners get tips from users. We are expecting more of bat of course: to be a real option to buy things in any website. Lest see if we get there.
3. Privacy is one of the biggest flags carried by Brave. As Chrome is starting to be aware of user´s growing concern about online privacy, Brave started from a new level of privacy and scoring point in the internauts that most value their privacy.
As im writing this article, i am actually using Brave and, even if at the moment the user features are not very different from other brownsers, feeling safer, running smother on the pc and receiveing tokes for sailling the web is enough to for me as a user.
Invest & Buy BAT
Before you decide if you should Invest in BAT, first see the Complete Guide for Investing in Crypto assets.
The Web Economist 