Cryptocurrency Basic Attention Token (BAT) – what it is and why is it needed in simple words

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Basic Attention Token (abbreviated as BAT) is a token that was created based on the unique Ethereum technology. This token is used in order to get direct access to a variety of advertising services, as well as platforms and tools that are designed to so-called attracting users’ attention on the Brave platform. It is a relatively new but already well-established digital ad system based on blockchain. Now you can buy BAT coin using the services of the website.

At its core, BAT is a financial incentive for the fact that the user has given their time and attention to viewing any advertising messages. It turns out that this token is equal to a certain number of ads that the person viewed through the corresponding browser. Users who publish any materials, as well as view advertisements in any form or form, will receive a reward in Basic Attention Token. It is extremely important to note the fact that this reward system works exclusively within this system, and tokens will be credited for viewing ads in the Brave browser.

The developers plan to form a special, unique system that will suppress any attempts by trackers to track users’ actions on the Internet. If the user decides to view advertisements or videos, then his behavior, as well as actions on the network, can be tracked (with his full consent) using the Brave browser. For this he will be rewarded with BAT tokens. Also one of the features is that users will see only those ads that can be generated based on their actions inside the browser.

This ecosystem will consist of publishers, users, and advertisers. The operation of the Basic Attention Token system is extremely simple, however, it is unique in its kind and revolutionary, because users have never been paid to watch ads. So, if you delve a little into the very mechanism of the BAT, then its principle becomes absolutely obvious. Advertisers purchase tokens in order to draw the attention of users to their product, as well as pay publishers for their services. Publishers, in turn, plan to accept payments in tokens, and then change them to real funds.

Users can, if they wish, view ads and receive a certain number of BAT tokens for this. However, it is necessary to mention the fact that using this browser is absolutely free. The undoubted advantage of Brave is its wide toolbox and many settings. For example, pay-per-view ads are disabled by default, just like the ads themselves. This is precisely the uniqueness of the browser, because there is absolutely no advertising here until the user himself wants it.

So what is Basic Attention Token? Basically, it is a token that has been issued for use as a means of payment inside the Brave browser. As conceived by the project development team, all users have the ability to disable advertisements while using the Internet.

History of Basic Attention Token (BAT)

It is safe to say that BAT tokens are not an independent digital currency. Rather, they are one of the assets that was formed on the basis of the Ethereum blockchain. Nevertheless, it is worthwhile to understand that there is a specific project behind any cryptocurrency, and of course, Basic Attention Token is no exception.

This cryptocurrency was created to pay for advertising services in the Brave browser. The developers of this project were such famous personalities:

  • Eich became the main initiator and creator of the BAT coin. This is the man who developed the most popular programming language in the world – JavaScript, as well as the popular Mozilla browser.
  • Bondi – an expert in the field of network and computer security;
  • Yang Zhu is the only girl on the development team, as well as an outstanding engineer from China and a popular web programmer;
  • Loklin was one of the co-founders of the project. He was in finance.

The idea to create a unique browser that would pay users to view ads, and help advertisers to place ads exclusively for the target audience, did not appear immediately. However, at the end of 2016, development began. It is worth noting that all the work was completed as soon as possible, and in the spring of 2017 the project was presented to the world.

The cryptocurrency community was ambiguous about the appearance of another coin, however, over time, having appreciated all the advantages of this service, considerable interest arose in it. And already on May 31, 2017, the ICO was held. It was possible to purchase BAT for Ethereum, because the tokens were developed on its basis. It should be noted that the project raised more than 35 million dollars in half a minute of trading. This has never happened before in the history of the cryptocurrency market.

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