Basic Attention Token or BAT was created with a purpose and by a renowned name in the technology space. The cryptocurrency was created to increase fairness, security, and efficiency of digital advertising by the co-founder of Mozilla and Firefox, Brendan Eich. BAT is built on the blockchain of Ethereum and is the native token of the Brave browser. Brave is an open-source and privacy-oriented browser. It uses blockchain technology to anonymously track users’ attention on the browser for enhanced user experience.
What is Basic Attention Token?
Digital marketing and especially advertising is something everyone is doing nowadays. The creators of BAT aim to change the way advertising is done and decrease the inefficiencies with the current system. Current advertising trends are to get highly aggressive with the customers and bombard them with aids which leaves them disadvantaged. Basic Attention Token proposes a unique way to go about digital advertising.
Basic Attention Token is the native cryptocurrency of a specialized browser Brave. The token is used as currency on the platform and can be used to avail advertising services. It facilitates the exchange between users, advertisers and publishers. What makes the token interesting is its unusual concept. Basic Attention Token is essentially a tracking system based on the blockchain for consumers’ time and attention on websites over the Brave browser.
BAT token tracks the time spent by consumers on different websites and saves the information on a distributed ledger for later use. The information is then used to enhance the digital advertising experience of users, publishers and creators by effectively advertising ads. The privacy concerns are also addressed by the platform as the creators of the platform have ensured that users’ data is only stored on their devices.
BAT future predictions
The cryptocurrency has been soaring as of late. Brave browser recently crossed its highest number of daily and monthly active users. The privacy-centered browser has seen phenomenal growth and adoption at an incremental rate. The Brave team announced that the platform now has more than 36.2 million active users. The growth of the browser will defiantly pull Basic Attention Token with itself.
At the time of writing, BAT stands at a price level of $0.78. The price has started declining after sustained bullish momentum with a daily decline of 16%. Despite the current downtrend, the future predictions for cryptocurrency are bullish. According to the estimates of Wallet Investor, Basic Attention Token will be trading at $1.38 in a year’s time and reach towards $5 in five years. Digital Coin Price predicts the closing price for 2021 will be above $1 with the price touching $3 by 2026.
