What is BAT (Basic Attention Token)

que es bat Bitnovo
7 min read

Internet advertising continues to grow. However, it is an industry rich in intermediaries, dominated by two main actors (Facebook and Google) and often with inaccurate data.

As it could not be otherwis, the blockchain technology has also reached this sector and has found a solution. To understand it is essential to know what is the Basic Attention Token (BAT).

The BAT ecosystem has many benefits and objectives. These include: avoid abuse of users by advertisers via the Internet. If you want to know this token thoroughly, you are in the right place.

History of BAT

The creator of the BAT token, Brendan Eich (Javascript creator and co-founder of Mozilla web browser) designed it with the aim of combating fraud and opacity in the digital advertising sector. This token is transferred among the publishers of a website, advertisers and users in a win-to-win relationship. The Basic Attention Token is a utility token to account for the value of the user’s attention.

The Basic Attention Token (BAT) is a token designed to be used in advertising and digital marketing. This token, based on Ethereum’s smart contracts and blockchain, improves the efficiency of digital advertising because it allows to measure, trace, reward and sell the attention of the user.

Bat conducted a network study where it concluded that on average, users spend 50% of mobile data on ads that appear on the web. Thanks to this study BAT decided to create a system where advertisers and users can benefit in the same way.

How do they make it possible?

  1. On the one hand, users surf the Internet quickly and privately, display less advertising and receive a reward for their attention.
  2. On the other hand, publishers also benefit from the benefits of BAT because it allows them to recover lost income with the traditional system full of bots and intermediaries.
  3. Advertisers end up receiving more accurate information about their advertising campaigns, allowing them to better target their messages and be more effective.
que es bat Bitnovo

BAT scheme of operation.

How does Basic Attention Token work?

Basic Attention Token or also known as Bat is a cryptocurrency that belongs to the Ethereum ecosystem. This cryptocurrency can be exchanged between publishers, advertisers and users. To achieve this goal BAT employs Brave, a browser that offers the user more speed and privacy in its navigation.

The BAT browser block trackers and malware and in this way, it is possible to guarantee greater attention from the user. Therefore, the default advertising (mostly from Google or Facebook) is replaced by advertising and services from advertisers who are rewarded through direct revenue from the attention of their users. Goodbye to the intermediaries!

Advertisers send money to publishers through advertising spaces, ensuring maximum user attention in advertising. Ads are published with a locked token, that is released when the user sees the ad.

Then the user receives a part, the same Brave browser also gets a part of the payment in tokens and, the rest, is sent to the publisher for support to the advertiser.

Although BAT tokens are not used to transmit monetary value, it is very common to exchange BAT with bitcoin, ether or other cryptocurrencies.

BAT wallet

If you decided to buy this cryptocurrency you need a wallet where you can manage and store them. Here are the best wallets to store BAT.

  • Brave Wallet is the official BAT wallet. You can get it via the Brave browser by adding its extension.
  • Ledger Nano is a hardware wallet that supports more than 700 tokens. As an advantage it has an elegant and simple design to start in the world of cryptocurrencies. It also occupies one of the best places because it provides considerable security.
  • Trezor is a wallet that guarantees secure control over your private key in order to offer more security to save your BATs. Not only does it have a good design but it is functional and easy to understand, making it an ideal wallet to get started with digital coins.

BAT Mining

This cryptocurrency is not mineable. However, there are ways to get it via the browser token. To get BAT the first thing is to download the browser BRAVE).

Once you’re on the platform, there are two ways to get BAT.

  • The first is becoming users by seeing ads and advertisements on the platform
  • The second way is to become content creators.

Either way the platform rewards you with cryptocurrency while you use ads or posting content.

Price of BAT

Basic Attention Token (Bat) has a current market capitalisation of 284,2 milliondollars and has a daily trading volume of 114.4 million, bringing the currency to position 54 in global trading of cryptocurrencies.

There are currently 1,486,868,945 BAT in circulation and has a total supply of 1,500,000,000 BAT.

Its initial price was $0,036 in 2017, reaching a maximum of 0.980702 USD in January 2018. Its current price is $0.19.

BAT VS TRON

In the current market we have a wide variety of cryptocurrencies, however, not all are in competition with each other, however BAT and TRON are two cryptocurrencies that focus on digital content:

  • Bat token started its proposal with 1.5 billion Bat while Tron started with 100 billion.
  • TRON can be obtained by mining, however, the only way to get BAT is through your Brave browser or by purchasing on platforms like Bitnovo.
  • Both cryptocurrencies are content-oriented, however, each is focused on different aspects, BAT focuses on advertising while Tron focuses more on digital entertainment.

Where to buy BAT?

If you want to enter the Bat ecosystem and buy this token, of course we will advise you to do it on Bitnovo. And this is not simply because we are inside the brand’s blog, but because Bitnovo is really a fast and safe way to buy your cryptocurrencies.

Our goal as a company is to make a person who has just entered the world of cryptocurrencies able to buy any cryptocurrency in a few minutes, without encountering the problems that most cryptocurrency exchanges have.