Comprehending some key insights with respect to the Basic Attention Token.
Introduction
It is absolutely assured that a person who is new to the cryptocurrency domain will go bananas, on observing the scale and the rate of development of the cryptocurrency community on a whole. To be precise, in the cryptocurrency space there are almost more than 1500 varieties of such coins which are existing and fighting for its sustainment in the community. Many cryptocurrency projects are initiated which turn out to become a huge success due to its robust real-time practical applications in solving a major problem. However, some of the others just exist, in the name of a scam. Therefore, each and every investor in the cryptocurrency space must be highly speculative and careful regarding their investments in the field. Let us read about the Basic Attention Token.
Basic Attention Token
The Basic Attention Token is one such cryptocurrency, in the huge pool of cryptocurrencies. Let us try to gain some insights regarding the Basic Attention Token which is set to transform the online marketplace for the business corporations.
1. Based on the Ethereum network the Basic Attention Token is a nothing but a decentralized ad exchange platform which is open source in nature.
2. Developed by Brendan Eich, the Basic Attention Token is linked with their intuitive web browser named, Brave which is one of the prominent tools to implement their online advertising strategy.
3. It might be unpopular, but Brendan has also founded many other major game changers in the industry like Mozilla Firefox, JavaScript, as well as Netscape Navigator.
4. The Initial Coin Offering for Basic Attention Token was initiated in May 2017 and its popularity rendered it to attract $35 million (approx.) of investment within 30 seconds of its launch.
5. The Basic Attention Token’s white paper mentions that the online advertising marketplace is completely broken by being overexploited by the middlemen. According to them, the companies violate the privacy guidelines which they need to keep in mind at unprecedented scales.
6. The actual working model of the Blockchain project mainly consists of three components, which are the publishers, the advertisers, and the anonymous users
7. The Brave browser that the company simultaneously had developed, is used as a platform for collaborating all the three above mentioned people.
8. Basically, the browser incorporates the blockchain technology in order to keep a track of the attention of the users privately. The developers claim that all the user’s data is logged into and stored on their device itself.
9. The publishers within the Basic Attention Token’s ecosystem are rewarded for their quality content by the users who tip them for their good content.
10. And finally, the Basic Attention Token empowers the entire environment.
How does Basic Attention Token work?
The BAT is the native token for the blockchain project. The value of this particle cryptocurrency token is directly related with the basic attention that a particular user shows towards an advertisement. The Basic Attention Token community also has roadmaps set to further monetize the whole ecosystem through the currency. The ecosystem incorporates machine learning algorithms in order to match the most relevant type of advertisement based on the basic attention provided by the viewers to the content.
Why Basic Attention Token?
With the increasing number of frauds in the online advertising industry, the developers at the Basic Attention Token project have envisaged strict security measures within the Brave browser and also the digital token, in order to keep the problem under check. The community members have been able to achieve this by leveraging the integrity on the client side by incorporating the cryptographic principles. Also, its open source nature provides ample amounts of transparency.
Investments of the Basic Attention Token
The Basic Attention Token gets its share of value, as the project is funded by some of the most prominent institutional investors like Pantera Capital, Founders Fund, Danhua Capital, Propel Venture Partners, DCG, Huiyin Blockchain Venture, Foundation Capital, etc. The project manages to showcase the current problems which are like cancer to the current online advertising industry where all the users, publishers, as well as the advertisers are exploited on unprecedented scales.
Future of the Basic Attention Token
If the project gains acceleration then it is absolutely certain, that the current online advertisement industry would be destructed. With its robust and effective strategies, they would absolutely take over the market provided they receive sufficient attention from the Blockchain community.
