What is Basic Attention Token (BAT)?

What is Basic Attention Token (BAT)?

What is BAT and what does it have to do with Brave?



BAT or the Basic Attention Token is unquestionably a mantle in some investors’ books.

However, how aware are you of its usages?

What is Basic Attention Token(BAT)?



The Basic Attention Token or BAT is a utility token equipped with qualities to drive commercial platforms on the blockchain network, which was designed to analyze data regarding media consumers to enhance advertisements’ safety and justness.

This allows online marketers and content creators to create a stream of revenue without relying on a central figure as BAT functions on the Ethereum blockchain system, as well as the Brave web browser.





Developers



BAT was established by Brendan Eich, a founder of the popular web browser, Mozilla Firefox in 2004. Brendan serves as Brave Software Inc.’s CEO , with the company specializing in being behind the functionalities of the Brave web browser and JavaScript developer as well.

Unique Points and Interesting Technology

Brave has developed a browser allowing content creators to create a stream of revenue through the digital token, BAT, which can come from various forms of content and videos produced by the creators on Brave’s platform, such as when certain content receives a considerable amount of views or reach, the creator would receive BAT as rewards.



BAT’s system is also adept in screening for privacy-violating advertisements, such as pop-up messages on various websites, which would effectively be blocked out.



Nonetheless, Brave users can only access content provided and curated by Brave, where the amount of views and visits for each user would be recorded and validated through algorithms that generate rewards for users, as well as the creators, through the BAT token, which is allocated monthly through Brave’s browser-built-in wallet.









In reference to statistics from Coinmarketcap on October 19, 2021, BAT is ranked as the 96th highest in terms of market capitalization, with around 1.025 billion U.S. dollars or around 34 billion Thai baht. BAT’s total supply is fixed at 1,500,000,00 KNC with a current 1,491,569,645 BAT in circulation.



Additionally, BAT once made an all-time high at 55.15 baht and is hovering around the price of 23.02 baht at the time of writing.

Conclusion

The Basic Attention Token (BAT) is a utility token that benefits users and content creators, including advertisements, on the Brave web browser, a rapidly-growing platform with an exponentially multiplying amount of users with increasing daily uses. Though the platform still shares a much smaller market share, when compared to the likes of Safari or Google Chrome, with its current growth rate, Brave and the BAT token can undoubtedly become a leading platform with a large user base.



Reference:

Brave, Medium, Coinmarketcap, Investopedia

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