Everything you want to know about Basic Attention Token (BAT)

Advertising is a vital component of a company that may make or ruin a product. Well-executed advertising may generate a lot of money and develop an, In reality, certain businesses, like broadcast television, rely solely on advertising. Without internet advertising, Google would not be able to support so many programs. Nowadays, commercials are everywhere, in newspapers, radio, TV, and online. Because of this, digital advertising is now one of the highly effective methods.

As the popularity of blockchain and digital currency has grown, businesses have looked for new ways to apply this cutting-edge technology to problems and challenges that have been there for a while, such as online surfing and web-based advertising. When it comes to evaluating the effectiveness of internet advertisements, BAT is a standout factor.

In the next part, we’ll learn more about BAT and how it works.

What is BAT?

The Basic Attention Token (BAT) is just an Eth token that underpins Brave Software’s blockchain-based online advertising ecosystem. It is designed as a virtuous cycle centered on digital ads that are fair to both producers and consumers.

The Brave browser project was responsible for the development of BAT. Based in San Francisco, the leadership team consists of former employees of well-known technology firms such as Microsoft and Intel.

In 2017, Basic Attention Tokens (BAT) were pre-mined in advance of the token sale. The total number of tokens available is limited to 1.5 billion. An estimated $1 billion in BAT was raised during the initial coin offering (ICO), with a further $500 million BAT kept in reserve for both user growth and platform development.

How does BAT work?

In addition to functioning on the Ethereum (ETH) blockchain and being incorporated directly into a bespoke web browser called Brave, BAT could be transferred between advertisers, publishers, and internet users depending on their online behavior, to streamline commerce between all three parties.

As a result, users are treated with BAT for watching ad content, publications can provide more impactful advertisements, as well as advertisers can be certain that their messages are being seen by an engaged audience. The ultimate result is a better kind of online advertising platform, driven by BAT, Users could choose to keep their BAT on their own, swap it for cash or even other cryptocurrencies, as well as send it to their favorite content providers to support them.

What method is used to trace the token?

To keep track of the flow of BAT, Brave employs the Brave Micropayments Ledger, which is a blockchain-based system. The Brave Micropayments Ledger, according to the concept, would enable marketers, publishers, and readers to engage in smart contracts that will allow them to transfer payments amongst one another. When it comes to its blockchain, Brave is looking at the usage of zero-knowledge proofs to offer anonymity to participants in online content transactions.

Because the word “Brave Browser” has been discussed quite a few times in the preceding section, let us take a brief look at what it is.

Brave Browser:

The BAT token is operated via the use of a browser called Brave as mentioned before. Brave is just a free browser that promises to load pages 3-6 times quicker than rival products since it only displays adverts if the user has explicitly agreed to view them.

Customers who use the Brave browser could join up for the Brave Rewards program, which enables them to get compensated in BAT for seeing advertisements as well as give BAT to content producers whose work they choose to support via donations.

Brave’s default setting prevents trackers and advertisements from being shown. It only activates advertisements if the user chooses to do so. Brave then sends up native advertisements from trustworthy partners, for which consumers are compensated in BAT in exchange for watching them.

Application of the Basic Attention Token

A list of the most intriguing applications for BAT tokens:

• BAT utility for eCommerce
• utilizing BAT tokens for search engines
• Use BAT to share material using IPFS.
• Tokens may be burned in apps inside the BAT ecosystem.
• BAT Tokens may be used to pay for value-added services.

What is the core idea behind the BAT token?

According to their Whitepaper, E-commerce is a mess. The traditional publishing industry has seen a decline in revenues of around 66% over the previous decade when inflation is taken into account. Publishers are seeing a decline in income, users are feeling more threatened, and advertisers’ ability to judge the effectiveness of their campaigns is being hampered.

The solution consists of a decentralized, transparent digital ad exchange that is built on Blockchain technology. It starts with Brave, a fast, open-source browser that prioritizes privacy above speed and has a ledger system that gauges user attention so that publishers may be compensated as appropriate. Introducing BAT (Basic Attention Token), a token for one decentralized advertisement exchange by Brave. It compensates the browser users for their participation while maintaining their privacy.

While reducing the social and economic penalties associated with conventional ad networks, such as fraud, privacy breaches, and malvertising, BAT links advertisers, publishers, as well as users and therefore is denominated by relevant user attention. While rewarding and protecting the user, BAT is also providing advertisers with increased conversion rates and publishers with higher yields. BAT and kindred technologies, in our opinion, will be a key element of web standards in the future, since they will solve the fundamental challenge of monetizing publisher content while maintaining user privacy.

Where Can One Purchase a Basic Attention Token? (BAT)

The Basic Attention Token may be purchased on the following marketplaces:

• Uphold
• Coinbase
• Gate.io
• Binance
• BitPanda
• WazirX

Fundamentals and value:

BAT only has a maximum supply worth 1.5 billion units, with moreover 1.49 billion units currently in circulation, according to the organization. It is now placed among the best 100 cryptos in the world, with a price of $1.18 per token and a market value of more than $1.7 billion. It is currently trading for $1.18 per token. And over 42 million active users of the Brave browser have gained the access to BAT tokens as a result of their participation in the ecosystem.

The BAT exchange rate is adjusted at 6,400 BAT for each ETH, thus if the rate of Eth rises or decreases, so does the price of BAT. On Feb. 12, 2022, 3,628 BAT was equal to 1 ETH.

BAT so far:

The basic attention token was introduced on May 31, 2017, after raising $35 million in less than 30 seconds. It hit a low of $0.06621 on July 16th but rebounded to $0.2444 on September 2nd. After a few peaks and valleys, it soared in early 2018, hitting $0.8482 on January 8th. The BAT coin’s fortunes began to alter in 2021. Its value increased because of a rising coin market.

March was much better for basic token prices. On March 18, it hit $1.3294. It ended the month at $1.1233, but it had risen 273 percent in three months.

However, the market looked to right itself, and the 19 May crypto crisis lowered the value of tokens. It dropped to $0.5069 on 23 May almost a 69% decline in six weeks before rising to $0.7436 on 4 June. After a few months on October 31, 2021, its price was about $1.09. On 27 November 2021, the price gained a record all-time high of $1.77, however it quickly reverted to roughly $1.19 on 30 Dec 2021.

For the cryptocurrency markets, the beginning of 2022 was sluggish, and the coin began trading sideways. By the 19th of January, the currency was selling for around $0.9572 per coin.

Future prediction:

The price of BAT is predicted to rise in the future, according to several independent sources have been a bit different as according to the Gov.Capital the price of BAT to be roughly $1.53 in a year & $5.18 in five years, respectively. According to the site, the coin may reach the $1.50 level as early as May 2022 and the $2 mark as early as April 2023, respectively. The coin is expected to be worth $2.21 on January 1, 2024, and $3.15 on January 1, 2025, according to the forecast.

The financial website WalletInvestor estimates it will hit $1.60 for a year and $3.84 over five years. In contrast, DigitalCoinPrice’s BAT price forecast predicts that it will average $1.32 in 2022, $1.56 in 2023, $2.10 in 2025, and $2.54 in 2027, with the highest average value expected in 2022.

The most optimistic prediction, according to Ripple Coin News, is that BAT will reach $15 by the end of 2025 as a result of its relative stability in tumultuous markets.

Conclusions:

BAT had a large purpose and a tremendous vision. They created BAT to fix the flawed digital advertising business. These three parties make up the ecosystem. Advertisers utilize tokens to embed ads in publisher content. Publishers receive a cut of the tokens used, and so does the user who sees the ad.

Brave is one fast, open-source browser that blocks ads and trackers. It measures user attentiveness to properly pay publishers. Brave, the creator claims, is more than just a browser since it protects personal data from synchronization. Creates a user-friendly ad-supported web environment. Tokens can radically transform digital marketing.