Hello family today we will definitely understand The ERC-20 token, Basic Atention Token (BAT), is a token that not only works like a digital currency, but has a utility beyond the monetary value.
The Basic Atention Token platform seeks to give advertisers, advertisers and consumers back the power over digital advertising. Through the BAT platform we can measure, exchange and verify the attention to these commercials.
To understand exactly what I mean, it is important to know how the digital advertising industry works, that is, to understand how ads reach our Facebook profile or Google searches.
Brave is a free open source web browser created to provide you with a faster, safer, more private and more equitable Internet browsing experience. The BAT Basic Attention Token is its native utility token.
Digital advertising is broken and Brave has developed a new blockchain-based model to fix it.
It is easier to understand it with an example. Imagine that you are a person who works for a company that makes sports shoes. And this company has just created some amazing running shoes. You want everyone who has an interest in running to see that ad on their Facebook profile. Achieving this is not as easy as you imagine. There are many intermediaries involved and each of them gets a commission on that ad. The first thing you would do is send the information about tennis to a creative agency, they take care of making your announcement.
Now that the ad is ready, you pay a digital marketing agency to help you choose who to show your ad to and pay for the purchase of that ad space. You pay that space to Facebook or to the medium in which you want to appear. At the end of your campaign you pay another agency to do an analysis on the effectiveness of it. In this very simple sounding campaign, there were 4 intermediaries.
The way BAT works is as follows. If you want to be part of the platform, your online movements will be registered within the blockchain. Advertisers will know what you like and will be able to generate ads that interest you and therefore increase their sales. They get BAT as they make ads that generate more interest. Advertisers will know if their commercial was seen or not, they will no longer have to depend on a third party who evaluates this and who can give them incorrect information. Advertisers pay BAT for receiving this information. Users who decided to be part of the project will receive BAT for giving their attention to the ads and for sharing their interests.
For example, when you enter Facebook and you see ads for things that may or may not interest you. You have no power of choice.
Downloading those ads makes your browsing slower and makes you spend more data on your cell phone plan (in case you are using your smartphone). This takes precious time (ads use approximately five seconds of mobile load time on average) and costs you money (up to 50% of your mobile data is used for ads and trackers, costing up to $ 23 per month)
Not to mention, they decrease your phone's battery life by up to 21%. A great example are Malicious Ads, also known as malvertisements, that allow hackers to access sensitive and important information stored on your computer such as your name, address, social security number, and credit card number of date of birth. And you don't have to click on these ads to have access to your information!
That is why the Basic Attention Token was developed to measure and solve the problem of the attention economy, that is, as a means to measure, reward, track and sell user attention in the advertising and marketing space. The team behind the technology includes many highly respected titans in the tech field, including founders, co-founders, and creators of technologies like JavaScript, Mozilla, Firefox, and more. Most of the top talents behind BAT share the work history with top players in the tech, business, and advertising industries, including Mozilla, Khan Academy, Evernote, Kerf Software, EFI / Fiery, JD Power, Yahoo, Tor, and much others. as well as academics and nonprofits like the Electronic Frontier Foundation.
The BAT value stream begins with advertisers, paying for ad space with publishers, essentially buying the tokens and supplying the real-world dollar value. This gives them better targeting potential, a larger relevant audience, and ensures user attention to the ad, as well as providing a host of metrics.
These enter the hands of the editor through their location on their sites within the platform and are seen by users.
Users are rewarded for their attention to ads with a number of tokens, in addition to seeing fewer ads, but more relevant and more specific. They can use these tokens within the BAT market to purchase value-added content or services.
- A small additional portion of the token flow goes to Brave.
- Most of the balance is returned to the publisher.
- User shares are migrated to the publisher when redeemed for value-added services or content.
In financial perspective Brave was launched in January 2016 and BAT was announced a year later. In May 2017, the initial offer to sell $ 36 million tokens was a complete success, selling in less than a minute.
Basic Attention Tokens are not, by themselves, to maintain or transmit monetary value. Rather, they are a utility token used to account for the value of user care. This is in contrast to many other cryptocurrencies that may have many other functions. The most common cryptocurrencies on the market today, Ethereum and Bitcoin, serve as currencies, as the name implies, which means they have fluctuating prices that are tied to real-world values, allowing the exchange of world money real in Ethereum or Bitcoin. respectively.
On May 31, 2017, the BAT ICO was held, all the tokens sold out in less than a minute, making it one of the fastest fundraisers in history.
Only 130 people were able to participate in the ICO. One of the participants invested around 5 million dollars in the project and between 5 people they accumulated more than 50% of the tokens. The ICO for BAT allowed the purchase of tokens with Ethereum, the main use of the tokens in circulation will be made within the BAT advertising and services platform, integrated with the Brave browser. The developers put one and a half trillion tokens into circulation. In the future, no new coins will be issued. One billion tokens were sold at the ICO. The rest will be used to reward developers and attract new users.
So how can I get BAT tokens?
As we have commented, the entire BAT Tokens were distributed between the sale of the ICO and the foundation's reserve to keep the project alive, so it is not possible to mine them.
So to acquire these tokens there are 2 options, through one of the exchanges that currently have the cryptocurrency listed at the time of writing this, 9 exchanges allow you to exchange USD for BAT or using the Brave browser as a reward for the ads seen in the browser.
A large number of well-known content publishers have already joined the BAT platform, with more continuing to join as the market grows. The uses are numerous and varied, and since it is an open source technology, new and novel uses are likely to develop over time, all based on rewarding users for their attention to ads, publishers who monetize your content through ads and advertisers that get targeted ads in front of relevant viewers.
Most of the milestones in the BAT and Brave roadmap have been reached, so the current focus is to increase the user base and publisher base while adding additional metrics and data to the system. They are also working towards integration with other applications and platforms, as the open source nature of the system allows for virtually unlimited applications of the technology, and these efforts continue.
The addition of Editors to the Brave and (BAT) project is very important because compared to normal publishers who sell space on their platforms for advertisers, generally just by placing a cookie, in combination with the IP address of your computer, publishers sell your unique profile to advertising exchanges. Because if you've ever provided your personal information to a publisher to buy or subscribe to content, those ad exchanges now know their real identity, too.
For example, ad exchanges take huge percentages (over 70%) of publishers 'ad revenue for serving those ads on publishers' websites. Also, publishers don't make money when users have ad blockers and more than 600 million devices currently run ad blockers. That's why BAT's mission is to come up with a new, more balanced business scheme targeting today's digital ad space in which users are unknowingly tracked, publishers struggling to monetize content, and advertisers are constant victims of fraud.
How to activate the content platform?
To activate the content creation platform, BAT has the publishers website. From there we can link our website, Twitch channel or YouTube to the long list of sites that receive BAT donations. With this, users who visit these sites using the Brave browser will be able to make donations. To access this system, they only need to register on the platform and follow its clear instructions.
The platform has two ways to activate the tracking and payment system for websites. The first is to redirect the site's DNS, so that the BAT DNS service can recognize each site that belongs to the system. This is the most technical way to make the change. The other way is through a JavaScript or PHP plugin that performs the same function. This is the simplest way and for example in WordPress it is possible to use it thanks to Brave Payments. Just by adding this plugin to our WordPress we can allow the site to receive payments in BAT.
BAT together with its BRAVE browser, is the evolution of the Blockchain system in this sector, where we not only win on the one hand by seeing relevant advertising for us, but we are also rewarded for it. You may wonder, "why do we need to bother with BAT when can we use dollars? " The answer is privacy. To earn or tip or donate fiat currency such as dollars, you will need to disclose your identity and financial information to participate in the Brave ecosystem. With BAT, transactions are public on the Ethereum blockchain, but their identity remains private!
This project has a long way to go, which is why it continues to be built and is in constant development, but for today to start receiving the benefits of BAT, you just have to download the Brave browser to your computer or smartphone and you will automatically stop seeing advertisements. Not only will you stop having annoying ads, you will also save time and data on your cell phone. If you got here you are the best, if you learned something new don't forget to leave your like. Have the best day of your life. Blessings.
Thanks for reading have a great day 🤗
