What is Basic Attention Token (BAT)? Information about BAT Token

Basic Attention Token (BAT) is a prominent cryptocurrency project in the digital advertising field, developed by Brave Software. With the aim of improving the way online advertising is done, BAT has attracted the attention of many investors and users.

So what exactly is Basic Attention Token and how does it work? Please join AZCoin to learn more in the article below.

What is Basic Attention Token?

Basic Attention Token (BAT) is a cryptocurrency developed on the Ethereum blockchain platform, aiming to improve the online advertising system. Launched in March 2017, BAT is a product of Brave Software, the company behind the Brave browser. 

The Basic Attention Token goal is to restructure the digital advertising system by removing unnecessary intermediaries. BAT wants to provide a more efficient advertising model, where users benefit from receiving relevant ads, while advertisers and content publishers also achieve their goals without having to pay intermediaries.

Products of Basic Attention Token

Below are some of Basic Attention Token key products and services:

Brave Browser

The main web browser of the Basic Attention Token project. It’s designed to protect user privacy by automatically blocking unwanted ads and behavioral trackers. Brave uses blockchain to anonymously track the websites users visit, thereby only showing relevant ads and not annoying users.

Brave Wallet

This is a cryptocurrency wallet built into the Brave browser. It supports multiple cryptocurrencies, including BAT and allows users to buy cryptocurrencies with credit or debit cards. Brave Wallet also supports DeFi and NFTs, making it convenient for users to manage their crypto assets.

Brave Swap

Brave Swap provides a multi-chain cryptocurrency exchange service with optimized transaction fees. Users can make transactions using BAT tokens and receive discounts when using BAT for transaction fees. Brave Swap supports multiple cryptocurrencies and offers the best prices for users.

Project team, investors and partners of GMX

Project team

The BAT project is led by a team with outstanding experience and skills in the technology and digital advertising industry:

• Brendan Eich: Co-founder of Brave and creator of the JavaScript programming language. He is also a co-founder of Mozilla and the Mozilla Foundation.
• Brian Bondy: Co-founder and Chief Engineer of the Brave browser. Brian has experience working at major companies such as Khan Academy, Mozilla and Evernote.
• Yan Zhu: Security Engineer at Brave, with experience working at Yahoo, the Tor project, HTTPS Everywhere and Privacy Badger.
• Scott Locklin: Head of BAT Smart Contracts and Economics, co-founder of Kerf Software.

Investors

Basic Attention Token has received investment from many prominent investment funds such as ICONIUM, Pantera Capital, SNZ, 1 Confirmation, AB Capital, Blocktree Capital, Founders Fund and Fundamental Labs. Investment from these funds not only helps BAT expand its development but also enhances the project’s credibility in the cryptocurrency community.

Partners

BAT partners include many leading cryptocurrency exchanges such as Binance, HTX, OKX, Gate.io, BitMart,…This partnership helps increase the trading and usage of BAT on popular trading platforms.

Advantages and disadvantages of Basic Attention Token

Advantages

• Improve the advertising system: BAT helps reduce advertising costs by eliminating intermediaries, while creating a fairer and more efficient advertising system.
• Privacy protection: BAT prioritizes protecting user privacy by limiting tracking and collection of personal data.
• Transparency: All transactions on the BAT network are recorded on the blockchain, ensuring transparency and immutability.
• Speed ​​up browsing: By blocking unwanted ads, Brave Browser helps users browse the web faster and with less distraction.
• Support content creators: BAT creates a new source of income for content creators.

Disadvantages

• Competing with popular browsers: Brave Browser has to compete with major browsers like Google Chrome, Firefox and Safari, which could affect the project’s popularity.
• Adoption: While BAT is slowly gaining acceptance, scaling and widespread adoption is still a big challenge for the project.

Basic information about BAT token

What is the BAT token?

BAT Token is the native token of the Basic Attention Token platform, built according to the ERC-20 standard on the Ethereum blockchain platform. This token was released to the market on July 31, 2017 through the form of ICO fundraising.

Technical parameters

• Token code name: Basic Attention Token
• Ticker: BAT token
• Contract: 0x0d8775f648430679a709e98d2b0cb6250d2887ef
• Token type: Utility Token
• Blockchain: Ethereum
• Total supply: 1,500,000,000
• Circulating supply: 1,495,293,738
• Fully diluted market cap: 254,329,918

BAT token allocation

With the total supply as above, BAT token is allocated as follows:

• 20% used for user development.
• 13.3% used for BAT development.
• 66.7% sold in ICO.

Where to Buy/Sell BAT tokens?

BAT can be traded on many best crypto exchanges today, including Binance, Kucoin, HTX, OKX, Gate.io, MEXC, ByBit, BitMart, BingX, XT.com, WhitBIT,…

BAT tokens storage wallet

Since BAT is an ERC-20 standard, you can store it in wallets like MyEtherWallet, MetaMask, Trust Wallet or cold wallets like Ledger Nano S and Trezor.

Should you invest in the Basic Attention Token project?

Basic Attention Token has shown impressive growth with a market capitalization of over $300 million as of October 2023. The Brave project, the platform that uses BAT, has over 2 million verified content creators and over 7 million verified organizations.

BAT is also partnered with over 20 projects such as Uphold and Unstoppable Domain. These factors make BAT an attractive investment option in the cryptocurrency industry. However, it’s still necessary to consider the risks and monitor the market.

Summary

That was the detailed information about Basic Attention Token (BAT). Hopefully, you have an overview of this project and can make a smart investment decision. If you have any questions, don’t hesitate to contact us for further support.