![]() One billion BAT tokens were successfully sold, and an additional 500 million were retained by Brave Inc., making a total of 1.5 billion tokens. The platform was able to raise a total of $35 million in under a minute. The Basic Attention Token was officially launched on May 31, 2017, when BAT became one of the fastest sell-out initial coin offerings (ICOs) of all time. Brave Software was founded in 2015, followed by the launch of the Brave browser in 2016 with its key feature of blocking ads and trackers. The Basic Attention Token team consists of 16 members, many from the background of research, development, or engineering. Bondy is an experienced engineer with previous work experience as a senior software engineer with Mozilla, a software developer at Corel Corporation, and the software development lead at Khan Academy. He also contributed to the invention of JavaScript in 1995.īrian Bondy is the CTO of Brave and Basic Attention Token. Before releasing Brave, Eich was the founder and CTO of one of the world’s most popular browsers, Mozilla and Mozilla Firefox. Brendan Eich is the CEO of Brave Software, Inc., the company behind the Brave browser and Basic Attention Tokens. History of BAT (BAT)īasic Attention Token is the creation of Brendan Eich and Brian Bondy, two highly recognized individuals in the world of internet browsing software. Such users can then securely sign up to the platform to collect the rewards they have accumulated. The system includes websites and individual users on Twitter. Interestingly, one of the main distinguishing features of BAT and the Brave browser system is its capacity to reward users outside the network as well. There are a number of verified Brave publishers, like The Washington Post, The Guardian,, , SourceForge, and many others. By registering as a verified Brave publisher, content creators can receive tokens and even exchange them for any other currency they like. For publishers who want to avail their BAT tips, they are to be verified first. ![]() ![]() Token holders can also use their BAT tokens for premium content and services on the Brave browser or tip them to publishers of their choice. Of the budget, Brave gets a small commission, and the rest is distributed among publishers and users. Presently, the advertising budget is undertaken only in Basic Attention Tokens, which advertisers can acquire from various third-party crypto exchange platforms. Also, advertisers have to buy ads with BAT, which are then forwarded to publishers (for hosting) and browser users (for viewing). Also, according to the website, the Basic Attention Token will directly measure, exchange, and verify user attention.Įmphatically, if a user wants to earn BAT, they can select to view ads in their browser settings. ![]() Thus, BAT is a payment system that rewards and protects its users while offering better incentives to advertisers and a higher yield to publishers. It also compensates browser users for their attention while protecting their privacy. In addition, it has a built-in ledger system that measures user attention for every ad (user reach) and rewards publishers accordingly. It is a fast, privacy-focused, open-source browser that can block third-party ads and trackers. It is an innovative token fuelled by a blockchain-based digital advertising approach.Īccording to the whitepaper, the primary component of BAT is Brave. Hence, BAT is a utility token used as a unit of account between advertisers, publishers, and users on the Brave platform. Even mainstream publishers faced a dramatic decline in their ad revenues as platforms like Google and Facebook charge a hefty fee on advertising revenue. Further, advertisers do not have proper targeting methods and fail to deliver essential information sufficiently as the online platforms are mostly monopolized 2. Users are overburdened with ads on generic browsers, and there is a risk of powerful and dangerous malware. They observed the current trends being unfavorable to users, advertisers, and even publishers. The creators of BAT wanted to improve the way advertising is conducted on digital platforms today. Basic Attention Token (BAT) is a cryptocurrency token founded by Brave Inc.
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