What is the basic attention symbol? Guide for beginners

The field of blockchain and cryptocurrency is growing rapidly. Blockchain is taking over legacy systems in all other areas including the voting system, national currencies, stocks, legal system, and more. So what is the basic attention symbol? Well, it is the so-called blockchain answer to problems that arise in the field of advertising.

A blockchain-based digital advertising network called the Basic Attention Token, or BAT, is powered by its own token to appropriately reward consumers for their interest. It also allows advertisers to get a better return on their advertising spend.

This service is provided by Brave Browser, where users can view secure ads to earn BAT incentives. To increase engagement and reduce the risk of fraud and ad abuse, advertisers may display personalized ads.

In this advertising system, all users, publishers and advertisers exchange basic interest tokens, which act as motivational currency. BAT codes are used by advertisers to fund their advertising campaigns. A small percentage of this money is given to advertisers, while 70% is given to users. This will improve cost-effectiveness by eliminating middlemen who usually increase advertising spend.

Following initial coin offerings that were quickly exhausted, the Basic Attention Token was introduced in 2017. The platform raised a total of $35 million in less than sixty seconds. Through the Brave Rewards program, it has made its attention-based advertising experience available to users in most countries. The most active ad campaigns in November 2020 were in the US, UK and Canada.

Brendan Eich and Brian Bundy are the founders of The Basic Attention Symbol. They are two highly regarded figures in the web browsing software industry. President and CEO (CEO) of Brave Software, Inc. It’s Brendan Eich. The parent company of Brave Browser and Basic Attention Token is the same. Brian Bundy is also part of the team as the head coach of the essential and brave attention icon. Sixteen team members are listed on the Basic Attention Token website, many with backgrounds in programming, engineering, or research.

The Basic Attention Token (BAT) is created on the Ethereum blockchain and secured through a Proof of Work consensus process approved by the Ethereum mining community. This ensures that the parameters of the primary attention token are authentic and permanent.

How does the basic attention token work?

The open source Brave browser puts privacy first and manually disables all unwanted ads and trackers with Brave Shields. To improve the user’s exposure to the ad, it also uses the built-in ledger system to keep track of the user’s attention anonymously. It does this by specifying the time and pixels for each ad shown to the user.

Using on-device machine learning, Brave communicates with advertisers whose content is really relevant, while feedback mechanisms ensure users see ads for products they’re most likely to buy. Buy differently than Paybis. The identity of its users is protected by Brave, and all this data is encrypted and stored on the device only.

What is the basic attention symbol? How it works?

Anyone using the browser has the option to enable Brave Ads, which rewards users with basic attention tokens for the time they spend watching ads. Additionally, if users enable the Brave Rewards feature, their selected monthly contribution of Basic Attention Tokens will be automatically distributed among the websites they visit based on the time they spend at each site.

In addition, users have the option to tip their favorite content producers directly through the browser rewards panel or by clicking the hint icon next to the URL bar on websites like YouTube, Twitter, and Reddit.

What is the basic attention symbol?

Basic Attention Token (BAT) was created to fix the disrupted economy of digital advertising. BAT is the medium of exchange for a blockchain-based digital advertising platform. The best available technology for publishers in the ecosystem will be given measured consumer interest. In addition, users will get the best available technology for their participation. They can either use it on the site or return it to the publishers.

What is the basic attention symbol?

The maximum amount of the base attention token is 1.5 billion tokens, with almost all tokens in circulation. Without converting to a new smart contract, this cannot be improved. The basic attention symbol can be considered completely diluted as a result. One billion BAT tokens were offered to investors in its 2017 initial coin offering (ICO), with 200 million tokens remaining in the development pool and 300 million BAT allocated to the development pool.User Growth (UGP).

Budget funds will be allocated in this way.

BAT Team: A team of about twenty members will receive 58% of the budget. This funding enables the implementation of the BAT solution, as well as major improvements and developments to the existing Brave browser technology.

Administration: Legal, accounting, security, and other administrative expenses related to BAT will receive 10% of the tokens.

Marketing: BAT solution and Brave Browser will be promoted to increase adoption and awareness among users, publishers and advertisers. Expanding and maintaining a global community is also included in this budget. This will represent 12% of the budget.
Contractors: Approximately 13% of funding is for contractors. Third parties will receive this money. Providers of engineering, marketing, partnerships, affiliate programs, hacking for growth, and other services.

Budget Reserve: This will be a budget that is 7% reserved for unexpected expenses.
What is the basic attention symbol? future plans
The roadmap, as described in the Basic Attention Code white paper, covers the following four phases.

Pre 1.0 BAT: Brave uses an anonymous ledger system based on user interest in paying authors and making donations. The BAT ecosystem will be used by Brave and includes a secure vault that uses the ANONIZE algorithm to preserve user privacy. By adopting this technology, Brave monitors user interest at the browser level and distributes money to publishers.

BAT 1.0: The BAT wallet and Brave browser are integrated into the BAT 1.0 version. Brave will implement its own Zero Knowledge Proof ledger system for verification and transactions. This will maintain the anonymity of users from marketers, publishers, and other third parties. The reported BAM (Basic Attention Meter) data will be used to determine the value of advertising inventory and transactions.

Beyond BAT 1.0: BAT will use a state channel system with Zero Knowledge Proof protocol to completely disperse the transfer and verification process on Ethereum, thus protecting user privacy. Based on advertiser feedback, it will include alternative BAM metrics. Complete privacy of the user will be possible. Advertisers, users, and publishers will have access to a decentralized audit trail to ensure proper payment for ads served by the BAT network.

Browser as a platform / BAT: Additional BAM metrics are needed based on advertiser feedback. Partners will develop software for the BAT platform. They also intend to investigate the value-added services that BAT may be able to provide to users on the browser platform.

This article is brought to you in French in agreement with our partner crypto-academy.org
If you speak English, find the original article in English at Crypto Academy

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