Basic Attention Token (BAT): from its origins to its functioning

Basic Attention Token (BAT) is the official cryptocurrency of Brave, an open-source browser specialized in protecting user privacy and based on the Chromium project

Basic Attention Token (BAT) is an ERC-20 type token that was created by Brendan Eich and Brian Bondy in order to increase the security, efficiency and privacy of users in the digital advertising market. Eich is famous for creating JavaScript, and both creators worked on developing the Mozilla Firefox browser. The project was created in 2017 by Brendon Eich and Brian Bondy, with a consensus mechanism See Ethereum.

Basic Attention Token (BAT) is the official cryptocurrency of Brave, an open-source browser specialized in protecting user privacy and based on the Chromium project. Within Brave, BAT cryptocurrency is primarily used to reward Brave browser users when they choose to view ads that really interest them.

Brave’s goal is precisely to free the web from unwanted advertising by blocking malware, ads and trackers.

The BAT cryptocurrency can be purchased on the best exchanges (youngplatform.com/bat).

The origins of Basic Attention Token (BAT)

Let’s see immediately the reasons behind the creation of Basic Attention Token.

The internet has completely changed the way advertisers can reach potential consumers. Websites are full of banners and increasingly targeted advertisements, due to user data that can be collected with or without their consent. As a result, major websites have taken advantage of this by charging advertisers large sums for the advertisements within them.

The Brave browser fights user privacy with regards to ads. Brave allows users to only watch relevant ads. The BAT cryptocurrency is then used to reward viewers and this eliminates the push of intrusive ads.

Content creators then have the problem of hosting platforms taking large commissions from their revenues. Brave users can instead view content and suggest content creators. BAT will go directly to the creators, thus eliminating all intermediaries.

How does BAT work?

BAT cryptocurrency works using peer to peer blockchain technology. Advertisers can show their ads directly to users and users can suggest content creators directly, thus eliminating the presence of intermediaries.

Built on the Ethereum blockchain, BAT uses the core ecosystem to function and the token is of type ERC20. The blockchain was developed to allow direct communication and transfer between two or more parties, the crypto BAT can therefore be paid to users and content creators regardless of the online platform on which they choose to host such content.

Being a decentralized token, BAT offers many advantages over other forms of payment systems. Traditional tokens used as rewards are controlled by a central authority – the developers of the tokens. Developers have complete control over everything related to tokens, from their use to pricing. BAT has no such limitations, advertisers can for example set rewards for viewing. BAT owners can also use the crypto outside of Brave for payments.