Types of Cryptocurrency

Know More About Basic Attention Token (BAT)

Know More About Basic Attention Token (BAT)

Have you ever wondered how much your time and attention are worth? With Basic Attention Token (BAT), you can find out. Basic Attention Token is a new cryptocurrency that rewards users for their attention. Basic Attention Token is a utility token based on the Ethereum blockchain and this means that there is a lot of positive and negative effect on its token, BAT.

In this article, we will be analyzing the importance of Basic Attention Token, How Basic Attention Token Works, and where to buy or store your BAT tokens. Keep reading, you’ll never know when this information might come in handy.

History of Basic Attention Token (BAT)

Starting off with history, it is important to note that Basic Attention Token is actually a rebrand of the project known as Brave. Now, we have to trace back a little bit further to get the full story.

Basic Attention Token was created by Brendan Eich, the co-founder of Mozilla and the creator of JavaScript. The project was announced in May 2017 and the token sale took place in June 2017. Basic Attention Token was one of the most successful ICOs of all time, raising $35 million in less than 30 seconds.

Basic Attention Token is an open-source, decentralized ad exchange platform built on the blockchain called Ethereum. Basic Attention Token utilizes blockchain technology to create a more efficient and transparent digital advertising market.

From a technical standpoint, Basic Attention Token is an ERC20 token with a fixed supply of 1 billion tokens.

How Does Basic Attention Token Work?

Basic Attention Token is integrated with the Brave browser, which allows users to opt-in to view ads in exchange for BAT rewards. The Brave browser also includes a built-in ad blocker. The Brave browser is available for desktop and mobile devices.

Since BAT is rebranded, there are a few things to know, first of all, you should know that there are 2 types of tokens, the Basic Attention Token (BAT) which is tradeable on exchanges and used to tip content creators, and the Brave Reward Token (BRT) which is not tradeable and can only be used within the Brave browser.

The second thing to know is that there are 2 types of advertising on the Brave platform, Sponsored Images/Videos which are inserted into webpages and notify the user that they will be viewing an ad, and Private Ads which are only visible to the user if they opt-in to view them.

Now, BAT is specially designed for certain things that will help improve the world of advertising and cryptocurrency.

Basic Attention Token is designed to do the following:

  • Improve the efficiency of digital advertising: Basic Attention Token is a new unit of exchange that can be used to obtain a variety of advertising and attention-based services on the Brave platform. Basic Attention Token is designed to improve the efficiency of digital advertising by creating a more efficient market.
  • Reduce fraud in digital advertising: Basic Attention Token is designed to reduce fraud in digital advertising. Since BAT is based on the Ethereum blockchain, which is immutable and transparent.
  • Create a new unit of exchange between publishers, advertisers, and users: Basic Attention Token can be used to obtain a variety of advertising and attention-based services on the Brave platform.

This is the design of Basic Attention Token, and how it plans to improve the world of digital advertising.

Advantages of Basic Attention Token

Moving forward, there are a lot of advantages to Basic Attention Token, so let’s take a look at some of the most important ones.

Basic Attention Token (BAT) includes the following:

  • Brave Rewards: Basic Attention Token includes Brave Rewards, which allows users to earn Basic Attention Token by viewing ads.
  • Ad blocking: Basic Attention Token blocks third-party ads and trackers. Basic Attention Token is a fast, private, and secure web browser that blocks third-party ads and trackers.
  • Low fees: Basic Attention Token has low fees. Basic Attention Token is designed to reduce the cost of digital advertising.
  • The user growth pool: Basic Attention Token can be stored in the user growth pool. The user growth pool is a Basic Attention Token wallet that supports Basic Attention Token.
  • Great way to monetize your attention: If you’re someone who spends a lot of time online, whether it’s browsing the web, using social media, or watching videos, then you know that your attention is valuable.
Risks of Basic Attention Token

Since BAT is a cryptocurrency that is in its early stage, and as with all new cryptocurrencies, there are risks.

Risks of Basic Attention Token include the following:

  • Loss of private keys: If you lose your private keys, you will lose your Basic Attention Token.
  • Hacking: If the Basic Attention Token network is hacked, you will lose your Basic Attention Token.
  • Volatility: Basic Attention Token is a cryptocurrency that is relatively new, and just like every cryptocurrency, the price is volatile. The price of Basic Attention Token could go up or down.
How to Buy Basic Attention Token?

Basic Attention Token can be bought on a variety of exchanges, including Binance, Huobi, and OKEx. Basic Attention Token can also be bought with fiat currency on Uphold. Basic Attention Token can also be bought on the Basic Attention Token website.

Basic Attention Token can be stored on a variety of wallets, including:

  • Ledger Nano: The Ledger Nano is a hardware wallet that supports Basic Attention Token.
  • Metamask: Metamask is a software wallet that supports Basic Attention Token.
  • MyEtherWallet: Basic Attention Token can be stored on MyEtherWallet a software wallet that can cater BAT.
What is the Basic Attention Token Roadmap?

Of course, every good project has a roadmap, and Basic Attention Token is no different.

The Basic Attention Token roadmap includes the following milestones:

  • Q1 2018: Basic Attention Token will be listed on exchanges.
  • Q2 2018: Basic Attention Token will be integrated with the Brave browser.
  • Q3 2018: Basic Attention Token will be used to purchase advertising on the Basic Attention Token network.
  • Q4 2018: Basic Attention Token will be used to pay for attention-based services on the Basic Attention Token network.

Basic Attention Token was created by Brendan Eich, the co-founder of Mozilla and the creator of JavaScript.

The team plans to improve the web browsing experience by blocking ads and trackers and providing a faster, safer, and more private browsing experience. The team is also working on improving the security of the web browser and making it more resistant to malware and other online threats.

Basic Attention Token (BAT) Price

The Basic Attention Token price is $0.26 as of June 2018. The market cap of Basic Attention Token is $326 million as of June 2018. Basic Attention Token has a circulating supply of 1.26 billion BAT and a total supply of 1.50 billion BAT.

The initial coin offering (ICO) price of Basic Attention Token was $0.036. Take note that unlike other cryptocurrencies, Basic Attention Token (BAT) is not mineable. The price of Basic Attention Token went down by -5.17% in the last 24 hours.

The lowest Basic Attention Token price (BAT) can occur when the cryptocurrency’s market is experiencing a “bloodbath” or a general crash in the prices of digital assets. Bloodbath means that almost all digital assets are going down in price at the same time.

A general crash is when the market is going through a period of consolidation where prices are correcting from their all-time highs. This happens when there is too much speculation in the market and prices have gotten ahead of themselves.

When this happens, a lot of people will start selling off their digital assets to take profits, which leads to a decrease in prices.

Conclusion

There are a lot of potential use cases for Basic Attention Token, and the project has a lot of potentials. Basic Attention Token could potentially revolutionize digital advertising.

The unique thing about Basic Attention Token is that it is not just another cryptocurrency, but it has a real-world application. The project team is also very experienced and they have a good track record.

Just like other utility tokens, Basic Attention Token’s price is dependent on the demand for the services it provides. Basic Attention Token could potentially be used to pay for a variety of attention-based services in the future. Basic Attention Token is an interesting project to keep an eye on.

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