Introduction of Basic Attention Token (BAT)
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Basic Attention Token (BAT) uses the Ethereum blockchain and a special web browser called Brave. BAT tokens are used as currency on the Brave platform and can access many different social media services. It is designed to be flexible between users, advertisers and publishers. It is based on a rare concept that is crucial for media companies operating in the digital age: user focus.
BAT developers are looking to improve the way advertising is conducted in the digital age. They see what is happening now as putting users, publishers and advertisers at risk. Users are inundated with ads and pranksters, and they are exposed to malware that is getting stronger and stronger.
Traditional publishers have seen their ad revenue plummet as platforms like Google and Meta (formerly Facebook) drive down the cost of ads while cutting big on ad revenue. In addition, bots and malware can cause more damage every year, and platforms have experienced a crisis of trust. In addition, advertisers do not have a targeted way and enough information to distribute their content effectively because these services are held by platforms.
BAT developers believe that by tracking how users interact with digital media content and storing this information in a distributed ledger, they can improve the digital media experience for advertisers, publishers and users. Users will find fewer ads and content more valuable to them. Publishers will find new revenue streams. And advertisers will be able to target users better based on the interests and preferences of the user’s recorded content. They will also be better able to avoid fraud.
Basic Attention Token History
Internet users are becoming increasingly aware of the privacy and security risks associated with online communication. Most of the time, they ignore these unwanted advertisements, even though it damages advertisers and publishers. Similarly, it is difficult for publishers to monetize their content. And even when they do, a lot of advertising money goes to Google. On the other hand, advertisers and producers invest billions, but they are not completely sure that they will achieve their goals.
Is this setting (does advertising really work? where does my money go?) that prompted the launch of the Brave browser in 2016 by Brendan Eich and Brian Bondy, two highly respected figures in the Internet browser industry. It is worth mentioning that Eich is the creator of JavaScript and the founder and former CTO of Mozilla, where he helped launch Mozilla Firefox.
Initially, Brave offered a privacy-friendly ad feature that allowed users to block ads and online tracking. However, note that the ad-blocking feature is optional, which means the Braves don’t completely remove ads. With privacy-focused features, Brave has quickly become a popular browser for crypto users. It always supports this situation by partnering with blockchain companies to provide unique crypto tools.
It was not surprising when the group introduced a blockchain-based financial incentive scheme, Basic Attention Token (BAT), in 2018. Simply put, BAT is a utility token based on Ethereum that anchors and Brave Browser digital ad economy. Digital assets encourage Brave users to view ads and serve as a deposit for publishers.
Who created BAT?
BAT is a browser developed by Brave. Based in San Francisco, the senior members are the elders of established technology companies, such as Microsoft and Intel.
How does Basic Attention Token work?
Brave is an open source, privacy focused browser that blocks all ads and trackers by default with Brave Shields. It also uses an integrated directory system that automatically targets user attention to improve users’ media experience. This is done by calculating how long each ad will be visible to the user and how many pixels they can see.
The ability to match content and advertisers is really important using machine learning and tools, while feedback systems ensure that users receive ads for products they are interested in. You are more likely to buy. All this data is encrypted and stored on the device only, Brave protects the identity of its users.
Anyone who uses the browser can activate the Brave Ads feature to get paid the main attention for the time they spend watching the ad. They can also activate Brave’s rewards program which will automatically divide the BAT token award of their choice between the sites they visit based on the time spent on each.
In addition, users can choose to contribute directly to their favorite content creators, through browser payments or by clicking the tip button next to the URL bar on sites like YouTube. , Twitter and Reddit.
The future
The success of the Basic Attention Token depends on digital media as companies decide to adopt this new model. The signs, meanwhile, look promising. Brave started working on YouTube late last year. Many artists who do not have a clear idea of what YouTube itself will pay use records to get some kind of money for their work.
However, the platform has come in for criticism from industry players. Some feel that Brave has great potential in digital media. Critics say it could change how much money different parties pay, and some say it earns publishers more money than the existing model. However, it is still in the prototype stage.
Although BAT can be bought and sold on the exchange, users still have no way to spend their tokens, creating a strange, almost closed environment. As the platform matures, BAT will need to create real-world applications, which will provide some sort of value proposition.
