Digital advertising is critical for almost all online businesses. Today’s advertising market is over $600 billion with potential growth to $982 billion by 2025.
However, the current digital advertising ecosystem has become a victim of its own complexity, wherein the advertising’s parties collect incredible amounts of information about their audience.
BAT’s team breaks the traditional advertising model and provides an excellent solution for many of the problems currently plaguing digital advertising. In our all-encompassing review, we’ll cover everything about the BAT crypto project and its ecosystem.
What is BAT?
Basic Attention Token (BAT) is a utility token created on the Ethereum blockchain specifically to serve the Brave browser ecosystem.
It should be noted, we have two separate projects working together, wherein BAT coin acts as a monetary system of the Brave browser, which is also owned by Eich.
Eich’s main aim is to improve the efficiency of digital advertising, as the current model advertising based on tracking user-behavior to report that to publishers in order to provide ads to users on their browsing habits basis.
This model, according to BAT’s creators, hurts users, publishers, and advertisers alike. As it puts the user’s privacy at risk where privacy violations and data-stealing occur on a daily basis among internet users which gets them fed up.
This, in turn, has led internet users to enable ad-blockers to avoid privacy violations and irrelevant ads, publishers also have seen little by way of incoming revenue. Advertisers also have lacked enough targeting methods and information to deliver their content efficiently.
BAT creators offer a brilliant solution to improve digital advertising by committing to privacy compliance, pricing the user’s attention, and offering a new advertising paradigm that helps advertisers to improve their returns and publishers to get more ad revenue.
In this solution, Basic Attention Token (BAT) is used within the system as a payment tool to be exchanged between users, publishers, and advertisers, it is based on an unusual concept, called: user attention.
The browser user gets rewards for his attention while advertisers get better conversion and publishers receive higher yields. Brave Ads allow you to earn an amount of BAT coin free for opting-in watching ads with blocking advertising you don’t like to see.
BAT and Brave Browser
BAT is focused on the Brave browser, a privacy-minded browser that blocks malware and trackers and uses blockchain technology to track user’s attention anonymously, the thing that is turned into rewards for publishers.
The “user attention” means the user’s mental engagement on digital content through Brave. BAT developers refer that the private data and tracking information is stored only on the user device with keeping them anonymous and hidden.
Publishers get BAT rewards of digital advertisements for users’ attention, as the more their content attracts sustained users’ attention, the more publisher revenue increases. At the same time, advertisers improve their returns from investment. Brave also utilizes user attention data anonymously to help advertisers reduce fraud reduction.
Being directly linked with attention value, BAT is the cryptocurrency responsible for the entire process. Knowing that attention value is calculated depending on both the pixels displayed for any relevant advertisement and the incremental duration. For the future, the BAT system has further plans to measure and monetize user action in regard to digital advertisements.
According to the BAT website, the “lion share” of the ad revenue will go to publishers. Moreover, users will be rewarded with BAT for their participation in the project. They can exchange BAT currency for selecting premium content on the Brave network and many other services on the platform. Nevertheless, neither the premium content, the payment system, nor the services are clear at this time.
The developers of Brave and BAT have strengthened the browser and digital token system with a number of security measures, as a precaution against fraud and privacy issues. They suggest mitigating potential ad fraud by using cryptography, better client-side integrity, and open source transparency.
To sum up, the key features for BAT crypto project are:
The developers of BAT are going to improve the digital advertising experience for the three parts of the advertisement.
- Users will witness fewer ads and better content.
- Publishers will find better sources for revenue.
- Advertisers will be capable of targeting better users based on documented user content interests and preference as well as worthily avoiding fraud.
While the main concern of BAT’s team is:
- BAT crypto needs a wide user adoption to be able to beat the current advertising model. However, this could be better by the time with increasing the Brave browser users and their acceptance to this ecosystem.
The BAT Team
The team consists of extremely competent engineers and scientists, as follows:
- Brian Bondy, Eich’s co-founder. He was also involved with Mozilla Firefox and had a key role in Evernote and Khan Academy.
- Yan Zhu, responsible for security and privacy, she is also member at Forbes 30 under 30. With her impressive resume, she was part of Yahoo’s security engineering team from 2014–2015.
- They also have many other stars among the development team.
How to mine BAT?
Indeed, there are no mining BAT operations. Instead, BAT token pays for your attention, as it shares 70% of the ad revenues with the Brave users.
You can simply earn Brave BAT coins by downloading the Brave browser, then you need to enable Brave Ads by activating the “Brave Rewards” feature within the browser so you can get notified about ads to earn a free amount of BAT Brave token while surfing the web.
Where to buy BAT?
You can buy BAT from many exchanges that support trading BAT for fiat and cryptocurrencies. BAT currency is available on Binance (world’s largest cryptocurrency exchange) as BAT BNB among many other trading pairs, where you can exchange BAT to ETH, BNB, or BTC as well.
It’s also available on many exchange platforms such as Bitfinex, HitBTC, Ethfinex, Coinegg, OKEx, Bit-Z, Huobi, etc.
Buy BAT with ChangeNOW
You can also buy BAT instantly with the ChangeNOW exchange service, which provides you with a simple and easy way via several purchase options.
Only 4 steps to buy BAT coins:
Step 1. From the ChangeNOW Exchange Tool, choose a currency and enter the amount you would like to deposit. The amount of BAT will be automatically calculated according to the instant BAT price. Then click on the Exchange button.
Below is an example of buying BAT tokens with Bitcoin.
Step 2. Enter your BAT address (where you would like to receive your token).
Step 3. Check your information then click confirm. Please, consider that all operations are irreversible.
Step 4. After you have confirmed the transaction, send the Bitcoin amount to the generated address you see on the screen and you will receive your tokens immediately.
What is the best BAT wallet?
For storing your BAT coins, you actually have a wide range of wallet options.
Your first choice is the Brave wallet where you can store your BAT in the browser.
However, you also can store your BAT tokens in any wallet that is compatible with ERC20 because BAT is an ERC20 token, MyEtherWallet could be a great option.
- Trust Wallet, which is a multicurrency wallet that is incredibly user-friendly with a great variety of supported cryptocurrencies, available for Web, iOS, and Android.
- Cold wallets (wallets that are not connected to the internet) such as Ledger Nano S, which provides secure offline storage of your savings.
- Exchanges’ wallets like Binance, HTC, Exodus, Gate.io, etc.
The digital advertising industry will continue to grow alongside the rising user privacy concerns. The current model has led publishers and content creators to enrage, and users to enable ad-blockers to avoid privacy violations, as well as irrelevant ads.
Basic Attention Token (BAT) headed by Brendan Eich and a high-quality team, offers a brilliant solution with a new digital advertising paradigm that suits all publishers, advertisers, and users. However, what really matters for BAT in the current stage user adoption, which is developing day-to-day with raising the number of Brave users.
To learn more about BAT price prediction, please visit the following review in our blog.