Basic Attention Token Simplified
What is it?
The creator of JavaScript, Mozilla and Firefox, Brendan Eich, introduced Basic Attention Token (BAT) which is a decentralized digital advertising platform. BAT is an ERC20 utility token. The main purpose of BAT is to allocate and track user attention. The user attention will be stored locally and will match ads to users based on their data. This helps eliminate third party tracking like Google analytics from selling your information to these ad companies.
Purpose of the BAT token?
Users can be paid in BAT by watching BAT ads that have been purchased by advertisers with BAT tokens. Also, a really cool feature that their team has built is Brave Browser (two separate projects), where you are able to contribute to your favorite influencer, websites, publisher, or YouTubers that you follow on the Brave Browser. It will allow you to allocate funds to the sites you visit and even the videos you watch. These funds are distributed monthly to the publishers of your choice. Brave Browser is the only browser that BAT is integrated with at this time.
You are also able to trade BAT on the market for other cryptocurrencies.
What Problem is it solving?
Most users who are constantly engaging in ads and trackers are not aware that they are using much of their data they pay for each month on these type of trackers. These ads crush your battery as well. With the Brave Browser and BAT ad watch, they fight this problem by blocking all ads unless you are aware you are being tracked.
Not only are the users being affected by this, but publishers and marketers as well. Basic Attention Token says $7.2 Billion in fraud was caused last year due to bots. This affects not only the publishers wasting money on advertisements, but for the marketers to keep track of proper information. This at the end of the day causes users to see ads that they are not interested in.
The attention of the user will now be tracked in real time while users are viewing ads. They will have measurements that will base the viewing off active tabs opened, the ad being in vision on the page and the duration of the ads being watched by the user. The attention of the user will be incentivized by the BAT token payouts.
This creates a space where everyone will win. As a user you are protected from advertising and also remain anonymous when browsing. Advertisers will be able to better advertise to people with proper data being transmitted to them. The publisher will better get the attention of the users, have less fraud etc.
Source: basicattentiontoken.org