Basic Attention Token (BAT) is a utility token implemented on the blockchain to create a new approach in digital advertising. Founded in May 2017, the vision was to solve some of the inefficiencies and privacy problems in digital advertising and create a better system for all stakeholders. By integrating directly with the Brave browser, BAT enables users, advertisers, and publishers with a transparent and privacy-respecting ecosystem for online advertising and content monetization.
BAT was created through an initial coin offering that raised $35 million in less than 30 seconds, a sign of market interest. The Brave browser is the flagship application using BAT to reward users for their attention by paying them in BAT for viewing ads that respect their privacy. It also allows users to tip or support their favorite publishers and content creators directly.
BAT was developed by Brendan Eich and Brian Bondy, the co-founders of the Brave Software project. Eich is known as the creator of JavaScript and a cofounder of Mozilla. He brought his deep understanding of internet technologies to designing BAT and the Brave ecosystem. While Bondy has a software development and engineering background. He helped architect the Brave browser to seamlessly integrate BAT for advertising and monetization. Alongside Bondy, Eich set out to decentralize the current digital advertising model and return it into the hands of the user while making sure that creators receive due compensation.
BAT is an ERC-20 token based on Ethereum and works directly within the Brave browser. Brave does not display invasive ads with trackers but instead shows respect for user privacy in advertisements.
Users are rewarded in BAT tokens for their time in such ads. BAT wallets are directly integrated into the Brave browser, enabling seamless management by users of their earnings, tips, and contributions. Content creators and advertisers can join the BAT ecosystem by signing up on Brave Rewards, creating a more open and effective environment for advertising.
BAT employs Ethereum’s blockchain for its transaction security, inheriting Ethereum’s powerful Proof of Stake (PoS) consensus mechanism. The Brave team is working on Layer-2 scaling solutions to increase transaction speed and lower costs as the BAT ecosystem scales. Currently, BAT transactions are restricted by Ethereum’s base TPS, at approximately 15-30 transactions per second (TPS). Nevertheless, active Layer-2 integrations and Ethereum scalability features seek to improve the efficiency of the platform’s transactions in terms of TPS.
Brave has integrated DuckDuckGo, allowing users to access more privacy-focused searches, making their browsing even more anonymous and secure. Brave announced support for integrating the Solana blockchain, which enables BAT to benefit from high throughput and low transaction fees on Solana, extending BAT’s usability to a larger ecosystem.
A partnership with The Giving Block lets users donate BAT to more than 1,000 charitable organizations, increasing the token’s utility and social impact. Brave’s inclusion of the InterPlanetary File System (IPFS) enhances content decentralization, aligning with BAT’s views on user control and privacy.
In a move to increase scalability and transaction efficiency, BAT integrated with the Solana blockchain, unlocking fast, cost-efficient transactions for users and advertisers within the BAT ecosystem. Brave launched an in-browser crypto wallet, allowing users to store and manage a variety of cryptocurrencies, including BAT, directly within the browser.
Brave’s user base crossed 70 million monthly active users in 2024, significantly boosting the adoption of BAT and solidifying its position in reinventing digital advertising. Brave launched its privacy-first search engine, Brave Search, providing users an alternative to traditional search engines while integrating BAT rewards for engaging with ads. The Brave ecosystem is exploring NFT-based advertising campaigns, allowing users and brands to interact in new and immersive ways of advertising powered by BAT.
As of December 22, 2024, the BAT token is trading at about $0.21 with a market capitalization of $329 million, making it one of the leading utility tokens in the blockchain and digital advertising industries. BAT reached its all-time high (ATH) of $1.92 on November 28, 2021, and its all-time low (ATL) of $0.06 on July 16, 2017* Factors affecting price fluctuations include user base growth, as the more users adopting the Brave browser, the greater the demand for BAT. Protocol improvements, such as the integration with Solana and the introduction of Brave Wallet, attract users and advertisers alike. Additionally, larger market trends in the crypto space and the advertising world shape the value and adoption of BAT.
The Basic Attention Token, or BAT, represents a far-out reimagination of digital advertising at the intersection of blockchain technology and a user-centric approach. Its implemented functionality in the Brave browser, together with its two major focuses—privacy and transparency with equitably distributed rewards—make BAT a pioneer in both the blockchain and advertising worlds. Thanks to continuous innovation, strategic collaborations, and increasing user involvement, BAT is further breaking the frame of how online content will be created, consumed, and monetized.
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FAQs
Q1. What is BAT used for?
- A: BAT is used to pay users for watching ads and to tip content creators, rewarding them for the value given to the Brave browser platform.
Q2. What are some unique features of BAT?
- A: BAT directly interfaces with the Brave browser on privacy-preserving ads with transparent rewards for users and publishers.
Q3. What is Brave Wallet?
- A: Brave Wallet: An integrated crypto wallet to store, manage, and use cryptocurrencies, including BAT.
Q4. How does Brave support privacy?
- A: Brave blocks invasive ads and trackers, replaces them with privacy-respecting ads, and ensures data security for its users.