Recognized as one of many tokens that inhabit the Ethereum blockchain under ERC20 standards, the BAT is for exchanging values within a whole network, where content creators and advertisers earn a reward for their work without depending on intermediaries.
Designed precisely as a complement, the operation of the Basic Attention Token (BAT) is based on the use of the Brave web browser, whose main objective is to provide a navigation tool where users can select the advertisements that best suit their interests, at the same time they can pay directly to content creators with cryptocurrencies and thus change the usual monetization scheme. Similarly, advertisers can benefit from having more reliable and accurate market statistics of users, in addition to being able to access greater percentages of the profits generated on the network.
The issuance of the BAT began 3 years ago, when its ICO started off on a good foot by raising more than USD 35 million in less than a minute. Like any ERC20 token, its issuance is limited and in the case of BAT 1,500 million tokens were created, of which 200 million correspond to the developer team, 300 million were destined to encourage the growth of the user community and the remaining 1,000 million They were put on sale in the ICO for users.
In a few words, the Basic Attention Token (BAT) is just a digital token that, combined with the technical advantages presented by the Brave web browser platform, will fulfill the function of being a currency of exchange with which users, creators and advertisers can exchange units of value directly between them and thus return the prominence in digital marketing networks to those who really generate capital within it.
How does BAT work?
The BAT token represents an advantageous system for digital advertising users who seek to get profit from their contributions. Through Smart Contracts, advertisers send their ads with a token payment in a locked state to users. When a user sees the ad, they receive a portion of such payment, while the rest of the funds go to the author or website that hosts the ad. Users can browse the web privately again while monetizing their attention, while websites recover a good portion of revenue and advertisers receive better data on campaigns that allow them to target their messages more effectively.
Currently, the only web browser capable of using the BAT token is the Brave browser, which was created by the BAT development team. Its original roadmap for 2018 indicated that the BAT system would be integrated into other browsers and applications by the end of the year. However, this has not yet happened.
Additionally, users can spend their BAT on various things in the browser, including articles, premium products, donations to content providers or data services. The BAT ecosystem can even expand to use micropayments for comments and voting in forums.
BAT adoption by Brave
The Brave web browser initially worked with bitcoin (BTC) as a payment cryptocurrency among network users. However, the need to have a token with faster transactions, with much smaller commissions and a better integration to this platform has been increasing over time, especially with the different alterations that Bitcoin as a platform has had to overcome In recent times.
That is why the integration of BAT into the Brave system was inevitable. As well as the implementation of many other features and integrations of this digital token to the Brave platform. In fact, it has recently been reported that BAT users may have a crypto wallet to save ETH as well.
BAT aims to ambiate the rules established by the digital advertising industry that directly affect the way of generating income, a task that will not be an easy task, since it is a challenge to face the “giants” of the industry, but it is demonstrated that the same market adapts to the rapid advancement of technology and not vice versa. That is why proposals such as the Brave browser and its integration of payments in Basic Attention Token can mean a significant change in the way of visualizing new ways of generating benefits through digital advertising.
If these types of proposals begin to take hold, it is almost certain that the heavyweights of this industry begin to copy this idea; which would directly benefit BAT and Brave.
But not only Brave can be integrated with BAT, in the medium term, the development team has plans for possible uses within applications such as Telegram Bot, WeChat, among others.
How to use my BAT tokens in Brave?
- Open a website using Brave.
- Make sure it is a website you like to donate or make payments with BAT tokens.
- Open the Brave wallet to send the payment.
Beforehand, make sure that the wallet has the necessary funds to make the corresponding payment
To make the corresponding payment:
- Click on the BAT icon.
- Select the “Send a Tip” button.
- Indicate the total funds to send.
The amount to be sent is at the user’s discretion, so the payment can range from a microtransaction to much larger amounts, provided the wallet has the indicated funds.
For this, the user must:
- Select the quantity you want to send.
- Click on the “Send my Tip” button.
We can confirm the process when the browser shows a confirmation banner, meaning that the respective payment has already been sent to the recipients. Some websites will have a personalized banner, so the message may vary between web portals.
If the user opens the wallet once the payment has been made to check the remaining balance, it is very possible that it has not been updated to reflect the current total.
This is normal, since the entire process was duly registered in the Backend of the Brave browser, so there is no risk of fraud in the operation. Users are recommended to open the wallet again after a few minutes and it should reflect the balances correctly.