Basic Attention Token (BAT) is one of the standout cryptocurrencies in the market that can point to real adoption and use of its platform.
The project first appeared in 2017, with serious intent to disrupt the far-from-perfect world of digital advertising, and has taken the initial steps towards achieving this. But how is the project weighing up in 2021, and what does the Brave ecosystem have in its pipeline?
First, for those new to the Brave ecosystem, we’ll explain how the Brave browser and the Basic Attention Token work. Then we’ll move onto the most recent Basic Attention Token News for 2021.
Basic Attention Token News 2021: How Does the Brave Browser Work?
The digital advertising space of Web 2.0 is policed by middlemen such as Google, Amazon and Facebook, who take the lion’s share of just under 70% of all ad dollars.
In 2016, it was also reported that bots caused $7.2 billion in advertisement dollar fraud.
Eich has used his vast experience, along with the advent of blockchain technology, to create Brave, a browser fit for purpose in the age of Web 3.0.
Brave is open-source, decentralized and private. The software blocks annoying pop-up ads and sluggish browser trackers by default, giving users their privacy back, reducing mobile data consumption and saving battery drain from loading ads. Because it cuts out all of these time- and CPU-intensive processes, a speed test showed that Brave Shields help load web pages from 3 to 6 times faster.
However, if you don’t mind seeing ads, Brave will send you a few appropriate, non-intrusive ads per day, and even pay you for your “attention”. Better still, Brave locally matches ads to users, using a machine learning algorithm without any tracking or data collection required. No hint of your browsing activity ever leaves your device.
By using Brave, you earn up to 70% of the ad revenue that Brave generates through their advertising partners which, as it’s a cryptocurrency, you can then use however you’d like. You might decide to share the wealth and tip your favorite content creators on Twitter, Reddit, YouTube, Vimeo, Github and many more, or use it to purchase gift cards for Amazon, Walmart and Uber, among others, through the TAP Network.
This is where BAT comes in to create an innovative digital advertising marketplace between users, publishers and advertisers.
Basic Attention Token News 2021: What is Basic Attention Token (BAT)?
BAT is the native token at the centre of the Brave ecosystem, and is also supported on multiple DeFi platforms, such as Compound and MakerDao, where BAT holders can use the token as collateral to generate loans and earn interest.
How the BAT token works within Brave:
· Advertisers buy and pay publishers in BAT coins to have their ads viewed by users
· Users earn Brave browser rewards in the form of BAT coins for viewing customized ads
· Users can also tip their favorite content creators in BAT
· Publishers receive BAT coins based on user attention
· Advertisers achieve greater ROI results thanks to better user targeting and no fraud
As you can see, BAT creates a win-win-win situation between users, publishers and advertisers. Internet users can literally earn crypto by simply surfing the web, comparable to how you can earn frequent flyer tokens by taking a flight.
You can hold your BAT tokens in the integrated Brave crypto wallet, which makes it easy to tip content creators, or if you prefer to keep all of your cryptocurrencies in one place, you can transfer BAT over to the Exodus multi-coin crypto wallet.
How you can start earning BAT:
1. Download the free Brave Browser for your mobile or desktop
2. Click on the triangle BAT logo to open Brave Rewards settings
3. Toggle Brave Rewards on
You will now be rewarded in BAT simply for viewing ads.
Basic Attention Token News 2021: How the Number of Users is Growing
So how many people are already turned on to Brave? In terms of adoption, the statistics look promising, and are increasing exponentially. As of August 2021, Brave has over 34.4 million monthly active users and 11.9 million daily active users.
To date, Brave has over 1.2 million verified publishers and content creators earning BAT tokens, including popular sites such as Wikipedia, The Washington Post, The Guardian, NPR, Vice, LADbible and many more.
Brave Ads has also brought in 2800 ad campaigns since their launch with campaigns for well-known brands such as Verizon, PayPal, Amazon, The NY Times, Logitech and Evernote, to name a few.
Perhaps most importantly, considering that Brave is aiming to be an improvement on the digital ad industry, Brave ads have an average click-through rate of around 9%, well above the industry average of just 2%, with many brands also observing higher user engagement.
The Brave browser is not just another lofty crypto idea; it is a well-designed blockchain solution that is already disrupting its target industry.
Basic Attention Token News 2021: Update on the Brave Ecosystem
Some of the pre-existing partners plugged into the Brave browser include Tor, for an additional “onion” layer of private browsing; Uphold, for the exchange of the BAT token to fiat and crypto currencies; and Bittorrent, which allows Brave users to download torrents directly from their browser.
But Brave also has a few exciting new partnerships and roadmap goals for 2021.
As of this year, Brave has further cemented its decentralized credentials by integrating the InterPlanetary File System (IPFS), which may help users in some countries overcome data censorship from governments. Brave is also the first browser, as of April 2021, to be added to the Epic Games storefront, opening up the software for seamless use amongst gamers and streamers.
Brave has also integrated with Unstoppable Domains, which enables people to buy a customized blockchain-based domain name for a one-off fee, after which there are no annual repayments or forced deactivation from hosting middlemen.
And perhaps the most interesting development of all, the Brave search engine is currently live in Beta Mode. The search engine is user and privacy oriented, ensuring that user searches and “click” behavior are not tracked, and that the user experience takes precedence over the advertising and big data industries.
Brave Search will have its own, independent index, and search ranking models will be open and transparent, so that companies will not be at the mercy of opaque algorithms that favor paid content and censor others.
Brave is already linked with the Ethereum blockchain, but 2021 will see integration with Bitcoin, Polygon and other popular chains, as well as asset swap capability thanks to a link-up with the 0x decentralized exchange.
With all of these integrations put into place, it’s no wonder that Brave is the only browser to have passed the Electronic Frontier Foundation’s Cover Your Tracks test.
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