Basic Attention Token (BAT) – Pay Attention to this Usable Crypto-Product
If 2017 taught us anything (other than the fact that the crypto-market is here to stay) it was that mindlessly investing in the first coin with an upward-trend can sometimes bring terrific short-term gains. More commonly however, a hasty decision like this will lead to longer-term losses, as the hype surrounding the coin-of-the-day fades into the ether that engulfs the current crypto-universe. Finding a currency to invest our wealth into for the long-term requires us to step outside the bee-hive mentality exhibited in the online forums and indeed on your favorite exchanges.
In the mania surrounding the cryptocurrency market of 2018, finding a usable product is harder than you may think. Theoretical white-papers and road-maps abound, but these strategies for development rarely materialize into a cohesive statement the public can understand (let alone a usable product us crypto-enthusiasts can support). With public buy-in occurring at a record’s pace, working products will likely define the blockchain to this brand-new investor base.
The team behind the Basic Attention Token (BAT) has one of these products.
Blockchain Based Digital Advertising
In the decentralized marketplace of the future, there will be no tolerance for middle men. And in the digital advertising space, middle-men predominate. Feeding off of users, publishers and advertisers simultaneously, middle-men create an inordinate amount of inefficiency in a system fraught with abuse and malware. BAT eliminates this network of sharks, improving our online experience and rewarding stakeholders for user-attention with their crypto-token, BAT.
How Does it Work?
The product starts with Brave (available here), a fast and secure web-browser that efficiently eliminates those annoying pop-up advertisements frequenting your favorite crypto-news pages. Brave incorporates a proper evaluation of ad-engagement, while giving users the choice to opt out of ads completely. And, perhaps unsurprisingly, it works great.
Ad-blockers are all the rage, with over 600 million devices utilizing a growing number of available products. Brave achieves this within their browser (blocking ads and trackers) but also incorporates a ledger system with a mechanism to reward stakeholders for verifiable engagement with their ads (utilizing the BAT token). The system makes transparent an otherwise opaque process, reducing friction in the burgeoning industry of digital advertising. But the Brave web-browser is just the beginning of BAT’s development. Stage two incorporates the use of their token, BAT, in a process referred to as ‘decentralized ad-exchange’.
BAT is generated from the accurate, anonymous and secure monitoring of user engagement. Publishers receive tokens when ads are viewed, and users receive their share too (if they decide to receive ads). Publishers can also reward users with BAT for promoting their content online. And users can donate to publishers they believe have relevant content. Advertisers receive the benefits of accurate target-marketing from verifiable analytics incorporated on the Ethereum blockchain. Everybody wins, and user-experience improves.
In a world of click-bait headlines and annoying pop-up ads, it’s no secret that online user-experience has degraded over the last few years. And while BAT improves the advertising experience for users, publishers and advertisers simultaneously, it is the user-base that this beauty of a product derives its real value from. And in 2018, it is the public that will purchase the usable coins and their derivative products available in the crypto-currency market. Benefiting from ad experiences, or opting out completely, should be a choice granted to the users of any web-browser. Going forward, it is a choice the public will demand. And with public buy-in bursting onto your favorite exchange, the Basic Attention Token (BAT) looks ready for this next tranche of support. Are you?