What is Basic Attention Token?

Basic Attention Token (BAT) is a digital advertising token that operates on the Ethereum blockchain. It seeks to establish a new system for digital advertising where users, advertisers, and publishers are compensated for their participation. BAT is the unit of exchange in this advertising ecosystem, with the intention of fairly rewarding users for their attention while providing advertisers with a more efficient return on their ad spend. This experience is facilitated through the Brave Browser, where users can view privacy-preserving adverts and may receive BAT tokens as compensation for doing so. Advertisers, in turn, can deliver targeted ads to maximize engagement and reduce losses due to ad fraud and abuse.

How does Basic Attention Token work?

BAT functions within the Brave Browser, where users can choose to view privacy-preserving ads and may receive BAT tokens as a reward. Advertisers compensate for their advertising campaigns in BAT tokens. From this budget, a small portion is distributed to advertisers, while 70% is distributed to users. This system seeks to eliminate intermediaries that typically increase advertising costs, aiming to enhance cost-efficiency. The BAT ecosystem measures user attention to accurately compensate publishers, with attention and engagement verified using Zero-Knowledge Proof (ZKP) protocols.

What are the potential use cases for Basic Attention Token?

BAT seeks to enhance the digital advertising industry by creating a more efficient and fair system for users, advertisers, and publishers. Users may receive BAT tokens as compensation for viewing ads, contributing to a new form of attention economy. Advertisers can use BAT tokens to compensate for ad campaigns, potentially maximizing engagement and reducing losses due to ad fraud. Publishers can also benefit from BAT by receiving a fairer distribution of ad revenue. In the future, BAT could potentially be used in other browsers, messaging apps, and other digital platforms, expanding its use cases beyond the Brave Browser.

What is the history of Basic Attention Token?

Basic Attention Token was introduced in 2017 following an initial coin offering (ICO). The project was initiated by Brendan Eich and Brian Bondy, two individuals with notable experience in the internet browsing software industry. Eich, the CEO of Brave Software, Inc, is the inventor of JavaScript and co-founder of Mozilla and Firefox. Bondy, Brave's and BAT’s CTO, is an experienced engineer with previous roles at Mozilla, Corel Corporation, and Khan Academy. BAT rolled out its attention-based advertising experience to users in most countries through its Brave Rewards program.