BAT is a blockchain-based digital advertising platform which improves communications between users, publishers and advertisers for efficiency of digital advertising. It is an open source and the only project that built a decentralized digital advertising platform.
Advertisers send ads with a token payment in a locked state to users with using smart contracts.
BAT, Basic Attention Token, powers the Brave ecosystem. The Brave project tries to solve the fundamental problems of today’s digital advertising. Their mission is to fix the “broken” state of the current advertising space. The only web browser able to use the BAT is the Brave Browser, created by the BAT development team. It also receives some of the token payment. The browser is a privacy-oriented aiming to ensure full anonymity of its users by shielding them from 3rd party ads and trakers.
Users do not need to reach out to the external servers for every page load and the browser has an entire collection of users’ data along with URLs, active tabs, browsing information, and etc.
Many popular cryptocurrencies use Proof-of-Work or Proof-of-Stake to release additional coins, however, the BAT is different. Once the user growth pool is empty, no more tokens enter circulation.
It is an ERC-20 token, so you can store BAT in any ERC-20 compatible wallet such as MyEtherWallet. The Ledger Nano S or Trezor hadware wallets work great if you would like to store your funds in a hardware wallet.
Currently, BAT is dependent on the throughput capacity of Ethereum and this means an increase in the number of transactions in the BAT network.
BAT has good chances to remain a key player in the digital advertising industry. The advantages is that it can eliminates intermediary ad exchanges not only lowering costs but increasing the quality of users’ experience. BAT creates a system through which advertisers can gain off the needs of user and vice versa.
BAT has the same scalability prospects and the team actively works on the further development of its product. BAT stands out in the cryptosphere as one of the most utility-focused tokens which is used to provide a good solution to a real-world problem. It might require a bit more time. BAT will change the way users, advertisers and publishers interact one with each other.