$0.2000

Basic Attention Token, or BAT, is the digital currency that runs a new blockchain-based advertising system designed to reward users for their attention while giving advertisers better returns on their spending. This experience is delivered through the Brave Browser, where users can view privacy-respecting ads and earn BAT rewards. Advertisers pay for campaigns in BAT, with a portion going to users and publishers, bypassing traditional intermediaries to reduce costs. BAT was launched in 2017 after a rapid initial coin offering that raised $35 million in a short time.

Basic Attention Token was founded by Brendan Eich and Brian Bondy, both prominent figures in internet browsing software. Brendan Eich, CEO of Brave Software, previously founded Mozilla and invented JavaScript in 1995, also helping launch Firefox. Brian Bondy, CTO, has extensive engineering experience from Mozilla, Corel Corporation, and Khan Academy. Together, they bring over 50 years of software development expertise. The project's website lists 16 team members, many with backgrounds in development, engineering, or research.

Basic Attention Token's main use is as a payment method for advertising campaigns through Brave Ads. As of late 2020, advertisers need to spend at least $2,500 per month, though a self-serve platform with lower limits is planned. Payments must be made entirely in BAT, with Brave taking a small commission and the rest going to publishers and users. A distinctive feature is the ability to tip users who aren't yet part of the network, including websites and Twitter users, who can later register to claim their tips. By October 2020, Brave Browser had 20.5 million monthly active users, and BAT was held by over 368,000 addresses.

Basic Attention Token has a maximum supply of 1.5 billion tokens, which cannot be increased without changing the smart contract. Nearly all of this supply is currently in circulation, making BAT almost fully diluted. During its 2017 ICO, 1 billion BAT were sold to investors, 200 million were set aside for development, and 300 million were reserved for user growth. By November 2020, both the development and user growth pools were nearly depleted.

Basic Attention Token is an ERC-20 token on the Ethereum blockchain, secured by Ethereum's proof-of-work consensus algorithm and its extensive miner network. This ensures that only valid transactions are confirmed and that transactions become irreversible once processed, providing robust security for BAT holders.

Basic Attention Token is available on most major cryptocurrency exchanges and has strong liquidity. Reputable platforms for trading BAT include Binance, Coinbase Pro, and Huobi Global. Additionally, BAT can be bought directly with fiat currency through various brokers or traded against fiat on exchanges like Kraken and Bithumb.