Basic Attention Token in 5 Minutes
Brave Browser makes use of the Basic Attention Token (BAT) to enable users, publishers, and marketers with private, fair, and mutually beneficial surfing.
Brave has created a new blockchain-based platform to remedy the broken nature of digital advertising. Brave actively filters advertisements, malware, and trackers, ensuring that your browsing experience is safe, private, and quick.
Because the Brave browser is based on Chromium, the open-source software that powers Google Chrome, all of your favorite plug-ins and extensions will function as expected. To get started, all you have to do is download the Brave web browser.
Brave is a free and open-source web browser that makes visiting the internet faster, safer, more private, and more equitable. Its native utility token is the Basic Attention Token (BAT).
Brave has created a new blockchain-based platform to remedy the broken nature of digital advertising. Let’s take a moment to define the stakeholders in today’s digital ecosystem and the issues they confront, and then we’ll look at how the Brave browser and BAT are helping to offer a better internet.
First and foremost there’s you, the user. Every day, you probably go online for a variety of reasons: to consume material, such as reading an article, viewing a video, or listening to a podcast; to buy or sell items and services; and to connect with friends, family, and coworkers.
Publishers (a.k.a. Content Creators)
The Brave browser is primarily concerned with content-delivery websites, such as your favorite news site. Because it publishes content, the news site is referred to as a publisher. It may be more useful to consider publishers as content creators.
Advertisers (a.k.a. Brands)
Publishers generate money by selling advertising space on their websites to businesses. Brands pay for ad space on publishers’ websites in the hopes that you’ll notice their adverts while reading content and, hopefully, click on them to proceed with a purchase.
With us so far? Good. Let’s have a look at some of the problems with the existing model.
Problem 1: Speed
A server collects and delivers content to your computer when you visit a publisher to consume content. However, servers must also collect and deliver advertisements from advertising exchanges.
This wastes time (on average, adverts take five seconds to load on a mobile device) and money (up to 50% of your mobile bandwidth is used for ads and trackers, costing as much as $23 per month) – not to mention reducing your phone’s battery life by as much as 21%.
Problem 2: Safety
While you may not be aware of it, harmful adverts are served alongside regular advertisements on the websites you visit. Hackers can acquire access to sensitive and critical information stored on your computer, such as your name, address, date of birth, social security number, and credit card number, through malicious advertising, commonly known as malvertisements.
You don’t even have to click on these malicious advertisements for them to obtain access to your personal information!
Problem 3: Privacy
Publishers not only sell ad space on their platforms to marketers, but they also keep track of what you read on their site (usually by dropping a cookie).
Publishers sell your unique profile to advertising exchanges, along with your computer’s IP address, so they can give you better-tailored adverts across all the websites you visit. If you’ve ever supplied your personal information to a publisher in order to buy or subscribe to material, those ad exchanges now have your true identity.
All of these issues boil down to a single factor: cost. Cost of your time, privacy, and safety, which ultimately translates to a cost of your hard-earned money.
This existing paradigm has a number of flaws that are detrimental to both publishers and advertisers. Advertising exchanges, for example, take a large amount (more than 70%) of publishers’ advertising revenue in exchange for distributing such adverts on publishers’ websites.
Publishers also lose money when users use ad blockers, which are currently installed on over 600 million devices. Furthermore, advertisers have no way of knowing how effective their ads are unless a user clicks on them.
With the Brave browser and Basic Attention Token, Brave hopes to tackle all of these issues for users, publishers, and marketers.
Brave removes advertising, malvertisements, and trackers by default, ensuring that your browsing experience is safe, private, and quick. They deliver for free if that’s all you want or need. Because the Brave browser is based on Chromium, the open-source software that powers Google Chrome, all of your favorite plug-ins and extensions will function as expected. All you have to do now is install Brave and begin browsing.
However, there are a few components of the Brave ecosystem that can help you, advertisers, and publishers even more – and now is the right time to discuss Basic Attention Token, or BAT, an Ethereum-based utility token related to the Brave browser.
By actively opting in and choosing to view adverts, you can earn BAT tokens from advertisers.
When that ad is served alongside the content you’re viewing, the Attention Value for the ad, or the amount of BAT you earn, is calculated based on the amount of time the ad is visible in your active tab and the number of visible pixels of the ad in comparison to the number of pixels that make up the rest of the content on the page.
Publishers get BAT tokens when you opt-in to earn BAT tokens by viewing adverts since their content got you to the website where the ads are presented in the first place. As a result, publishers are motivated to develop excellent content so that you can all profit together. The more time you spend watching their material and clicking on the commercials that accompany it, the more BAT they make.
Another fantastic aspect of the Brave browser’s BAT rewards ecosystem is that you may tip your favorite publishers with BAT tokens on an ad-hoc basis or donate BAT on a recurring basis to thank them directly for providing you with amazing free content. Or, you can even use BAT to buy premium content or services from publishers directly.
Finally, owing to Brave’s unique Attention Value system, brands can now evaluate how effective their ads are in greater detail.
Your browsing history is saved in Brave and never leaves your browser. That means no information about your activities or your identity is shared with anyone else. Instead, Brave utilizes machine learning within the browser to decide which advertising to show you from a pool of ads provided by Brave’s partners.
This profile is always local to your browser, ensuring that your activity remains private, and you can delete it at any moment.
You could be thinking to yourself, “Why bother with BAT when we can use dollars?” Privacy is the answer. To engage in the Brave ecosystem and earn, tip, or donate fiat cash such as dollars, you must provide your identify and financial information. Transactions on the Ethereum blockchain are public with BAT, but your identity is secret!
You, content creators, and brands can all coexist online in a safe, private, and mutually beneficial ecosystem with BAT and the Brave web browser.
Brave is constantly improving and expanding their browser and ecosystem. Some aspects of the Brave browser and the BAT token incentive system are still in the early phases of development.