What problem does BAT solve?
The official website claims that advertisements make up half of all the data we use to browse the web. Not only does that cost us money in data costs, but it also drains our battery life. Furthermore, they claim that the big media websites use as many as 70 trackers to spy on us.
On the other side of the spectrum, we find the advertisers themselves. According to the creators of BAT, Google and Facebook take home 73% of all ad revenue. That leaves the little guy out in the cold. On top of that, 600 million devices have ad-blockers installed. That means even the best-targeted ads might not reach their intended audience.
What is the Brave internet browser?
The issues described above gave birth to Brave, an alternative internet browser. It was invented by the co-founder of Mozilla (Firefox) and was designed to solve problems for both users and advertisers. The Brave browser swaps out the ads you currently see when browsing online with ads created by BAT supporters.
What is the BAT token?
BAT is an ERC20 utility token, which means that it’s based on the Ethereum blockchain. The acronym stands for Basic Attention Token, which indicated it has something to do with attention. The token is designed to reward advertisers for creating good ads, and viewers for engaging with them. The more engagement an advertiser gets, the more BAT tokens they receive. Likewise, the more viewers engage with ads, the more BATs they receive. A win-win situation. At the same time, internet users will experience much safer and private browsing free from trackers.
What can BATs be used for?
The Brave platform will offer various services to both advertisers and their audiences. Users will be given a browser wallet where they can store their BAT tokens. Advertisers can, for example, use their BATs to create better targeting. The official website doesn’t offer a lot more information than that, however.
How do you get BATs?
The most straightforward way to earn BATs is by downloading the Brave browser and engage with ads. It’s also possible to buy and trade BATs on various cryptocurrency exchanges. In addition to the Brave wallet, it’s also possible to store BATs on any other ERC20-compatible wallet.
How does it all work?
Once you’ve downloaded the Brave, you can browse the web just as with any other browser like Chrome or Safari. You’ll have the option to turn on Brave Ads, which will then show you personalized ads like on any other browser. Viewing and engaging with these ads will earn you BAT tokens, which are stored in your Brave wallet. You then have the option to turn on Brave Rewards. This function will calculate how much time you spend on each website, and distribute your BAT tokens to the owners accordingly. It’s a way for you to support the creators of the content you enjoy by tipping them with cryptocurrency.
What does the future of BAT look like?
The team behind Brave and BAT are working on a solution that will allow any browser to use BAT. You can expect Brave Rewards to be available on mainstream browsers int he near future.