Basic Attention Token(BAT): A token rewarding brave browser users for watching ads as well as web publishers

By QuintoTrader | Crypto Street | 30 Aug 2019


        BAT2.png

  Basic Attention Token is a native token created on Ethereum Blockchain network whose transaction takes place from one peer to another without involvement by the government thus is being considered to be a decentralized asset. Basic Attention Token was mainly created to become a native token for its brave browser platform. As a native token on its brave browser platform, it is able to connect advertisers, publishers, and users.  For publishers, they can easily monetize when users are consuming their publishing work while browsing using the brave platform. At the same time, the users also receive incentives in the form of BAT token for giving attention to the advert while advertisers are able to maximize their return on investment. Publishers can easily connect their social accounts such as twitter, youtube, Reddit, Twitch and many more.This will enable them to be able to be tipped by their users using brave browsers while consuming their work on those social networks.

Basic Attention Token  transaction 

Basic Attention Token transaction takes place on the Ethereum blockchain explorer based on block height and timestamp. To view how the transaction takes place at Ethereum blockchain explorer, simply follow the link below; https://etherscan.io/token/0x0d8775f648430679a709e98d2b0cb6250d2887ef  

  Date Launched

 Basic Attention Token was created in 2017  with the main objective of allowing publishers to monetize from their publishing work when the users give attention to the advert by advertisers while browsing on the Brave browser.

Founder Of Basic Attention Token

Basic Attention Token  was created by Brendan Eich with the main objective of making it to become a native token for the brave browser where advertisers use the coin to advertise their business while publishers earn the token when advert is being given attention by users while browsing. At the same time, users will also earn some BAT for watching the advert while browsing. Brendan Eich is also the founder of Javascript programming language. He also created Mozilla and firefox.

Process of creating Basic Attention Token

Unlike cryptocurrencies like bitcoin and Ethereum which are created through the mining process in the presence of internet and power, for Basic Attention Token, that is not the case. Instead, basic attention token was created to become a utility token. As a utility token, all tokens worth 1500,000,000 were created and issued during the initial coin offering. Therefore, since BAT is a utility token, it therefore follows that advertisers use it to pay for advertising of their business to the landing page of different publishers on the brave platform. When users are browsing using the brave browsers, different advert will be running on the browsing page based on what they are browsing thus they will be able to earn some incentives in form of Basic Attention Token for giving their attention to the advert. In return, the publishers of the browsing page will also be earning the Basic Attention Token for their publishing work. The users can also tip their favorite publisher from the BAT they will have earned or they can decide to withdraw it. The publishers can maximize on their publishing work by linking their several social accounts such as Twitter, Reddit, youtube and twitch to their brave browser publishing account. This will enable them to be tipped by the community of their publishing work provided those community is also using brave browser. while benefitting from their account. The advertisers will also be able to maximize from their return on their investment. If you are a publisher and you would like to become a brave publisher, then you can join the brave publishing program from below;

https://brave.com/qui117
Here is how the brave browser which is the native platform of the BAT token works;

bat creation process.png  

Maximum circulation of Basic Attention Token

The maximum supply of Basic Attention Token coin that is expected to be circulating in the Ethereum blockchain network is 1500,000,000. All this amount was created and issued during its initial coin offering. Out of this amount, 1,000,000,000 BAT coins were issued to the public through selling while 300 million for users growth. The remaining 200 million were retained by the Brave browser company. Here is how the distribution looks like; bat supply.png  

Basic Attention Token   Price

Currently, 1 Basic Attention Token is worth more than $0.18 and its price is expected to increase over the next period of time. Basic Attention Token is being abbreviated as BAT.  

Converting my Basic Attention Token to other cryptocurrencies

To convert your Basic Attention Token to other cryptocurrencies such as bitcoin and Ethereum, you need to have a cryptocurrency exchange account. If you don't own one then you can follow the link to open a cryptocurrency exchange account for easy conversion of your Basic Attention Token to bitcoin or ethereum.

  https://www.binance.com/?ref=10776203    

Storing my Basic Attention Token

To store your Basic Attention Token, you need a Basic Attention Token  wallet that is compatible to ERC20. You can either store online or offline. To store your Basic Attention Token online you can use  Coinpayment wallet  or can use other online wallet compatible to ERC20  like myetherwallet or metamask. To secure your Basic Attention Token from being stolen by hackers, you can use offline Basic Attention Token wallet like ledger Nano 

Transferring my Basic Attention Token to other Users

If you want to transfer your Basic Attention Token to another user, the two of you must have trust in each other. The trust should be the Basic Attention Token address provided for the receiver while the sender must have the Basic Attention Token balance in their account to send to the receiver. For the sender, a blank space to insert receiver address and another blank space to insert the amount to send to the receiver is indicated. Here is how it looks like;

 

   BAT1 SENDER.png  

BAT MERGER.jpg      

Knowing more About Basic Attention Token(BAT)

If you feel that you need to learn more about Basic Attention Token, then you can follow them on their site. Here is the link redirecting you to Basic Attention Token website 

https://basicattentiontoken.org/    

Now that you know, I think that it is time for you to start earning some Basic Attention Token simply by browsing through the brave platform or by sharing your publishing work  If you feel that I should also own some BAT token for helping you to know about it then here is my Basic Attention Token address that is compatible to ERC20;

0x829a03ca847DD1Cbf1E4fc102337787B2e28800c     

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QuintoTrader
QuintoTrader

Trader, Blockchain Technologist and Contentpreneur. Also founder and CEO @ Quinto Trader


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