Investing in assets backed by coins and tokens is speculative and holds a higher level of risk. When dealing with risk, both losses and profits are made simultaneously....Read More
Prices are in USD.
|Market Cap Rank||#119|
|Price Change 24H||-0.01%|
|Price Change Percentage 24H||-4.72%|
|Market Cap Change 24H||$-17,610,946.00|
|Market Cap Change Percentage 24H||-4.77%|
|Circulating Supply||1,485,963,520 bat|
|All Time High||
November 28, 2021
|All Time Low||
July 16, 2017 -
|Explorers||https://ethplorer.io/address/0x0d8775f648430679a709e98d2b0cb6250d2887ef , https://blockchair.com/ethereum/erc-20/token/0x0d8775f648430679a709e98d2b0cb6250d2887ef , https://etherscan.io/token/0x0d8775f648430679a709e98d2b0cb6250d2887ef|
|Wallets||ledger.com , trezor.io , https://crypto.com/en/defi/wallet/|
|Community||https://reddit.com/r/BATProject , https://twitter.com/AttentionToken|
BAT (Basic Attention Token) is a cryptocurrency used to pay users for watching Internet ads on the Brave browser. In other words, Brave pays users for their attention to advertisements. This is a revolutionary way to handle online advertisements.
Brave has a lot of benefits. Both the users and advertisers realize great benefits by using the Brave browser. For users, they receive an incentive for their attention on the browser. Additionally, they receive advertisements tailored to them. On the other hand, advertisers receive assurance that their advertisements reach the right people. This is unmatched in other advertisement models.
The developers of Brave provide a list of competitors on the whitepaper. Some of these competitors include Steem and Blendle. However, BAT is still the most successful of such projects. It is a top 100 coin in market cap share, and that says a lot. Let’s see how it works.
To get BAT rewards, users have to use the Brave browser. This is a Browser built on the Chromium web browser. It is a fully open-source browser that focuses on privacy and speed. It blocks unnecessary advertisements and censorship trackers. This results in a browser that is faster and safer.
The Brave browser collects information on your internet usage. It uses this information to push advertisements that are relevant to you. However, these advertisements are in an opt-in model. You can only view ads that you want to view. Therefore, advertisers can be sure that their adverts reach the right target audience.
The BAT token is an Ethereum based token. Therefore, BAT is usable on Ethereum based blockchains. Users can easily transact using this token on any Ethereum based blockchain. Thus, this gives the coin high accessibility. This is because the Ethereum blockchain is in use in many decentralized applications.
Further, the BAT has another useful functionality. Creators can get paid for ad revenue in BAT tokens. Additionally, users can tip their favorite content creators using BAT. This is a great way to promote content creators for bringing traffic to a browser. It is especially good because other browsers contain ad blocker plugins. Such plugins may reduce their revenue stream.
No, it is not possible to mine the Basic Attention Token. Additionally, this token does not have a consensus mechanism. Users get rewards for watching advertisements. This process works in the same way mining does in a Proof of Work network.
However, BAT uses cryptographic functions to protect the network. Therefore, it works the same way other cryptocurrencies work. Moreover, it uses smart contracts to facilitate transactions. This is because the Ethereum blockchain hosts this token.
The official Ripple website states that there are over one million people accepting payments using BAT. This checks out. This coin has excellent adoption. The circulating volume currently stands at 1,492,580,869 BAT.
Moreover, it has great liquidity. The 24-hour trading volume is $134,280,585. This is very high and has the potential to grow over time.
On the other hand, Brain serves as the CTO of BAT. He is also an experienced individual. He was previously a software development lead at the Khan Academy. Additionally, he was a senior software engineer at Mozilla Corporation. Further, he was the Technical Director at KineticD.
Hence, users can have peace of mind. This project is in safe hands. These individuals have enough experience to spearhead any technological project. Moreover, there are other team members who are equally experienced.
It is essential to talk about the controversial way that this coin entered the market. During the ICO, there were only 130 buyers of the BAT token. However, these people raised over $35 million. This means they bought the majority of the tokens. Even worse, five of the 130 ended up buying about 50% of the supply.
This leads to centralization. Moreover, one of the individuals bought about a quarter of the supply. This is not an even distribution of a cryptocurrency. This affects the trust that users have in this cryptocurrency. It does not follow the original vision of cryptocurrencies.
Brave is one of the most private browsers in the market. Brave automatically blocks any trackers and unnecessary ads. Additionally, it does not disclose your data to third-party applications. Further, it does not store cookies.
According to the developers, Brave is the second most private network. It only falls to Tor. It uses the zk-SNARKs algorithm to implement privacy on the browser. This is one of the best privacy algorithms that exist.
Brave also has excellent security features. BAT transactions run on the Ethereum blockchain. Ethereum is one of the safest blockchains to use. That is why so many developers trust it to launch their decentralized applications.
Further, the developers work with auditors to make sure there are no entry points. They continuously audit the system to ensure security is top-notch.
BAT is continuing to gain more adoption in the markets. Many users are seeing the benefits of using the Brave browser. This leads to more adoption. Consequently, the BAT token gains in value over time. The economic incentives are immeasurable. Everyone on the Brave ecosystem gets to enjoy its benefits.
Moreover, it has social incentives. Users have full control of their assets and data. Further, content creators do not have to receive small ad revenues. Currently, content creators receive a tiny share of ad revenue. This is unfair, considering they bring the traffic to the platforms.
This is a unique token. Hence, you may want to add it to your portfolio. The best way to do that is to buy it. You can do that from several exchanges. Some of the best exchanges to use include Poloniex, Binance, OKEx, and Huobi Global. The price of one BAT token currently stands at $0.207007.
The value of this coin shows a steady gain over time. Hence, it is a great coin to hold and sell at a later date. To hold your coins, you can use any Ethereum supported wallet. Examples include Ledger, Brave Wallet, Trezor, and MyEtherWallet.
BAT definitely has potential in the market. It currently ranks 60th in market cap share. However, more and more users are adopting the Brave browser. Therefore, this cryptocurrency will see growth in value over time.
The only problem with this coin is unfair distribution. Five individuals own close to 50% of the entire supply. Nonetheless, this coin is one of the best cryptocurrencies in the market.