Basic Attention Token (BAT)

After the popular cryptocurrency bull-run in 2017, the world witnessed a drastic increase in the number of users and the significant amount of attention being diverted towards the cryptocurrency technology. Many more businesses were adamant to incorporate some cryptocurrency in their business in some way or another. This led to the introduction of specialized coins that had a much-localized purpose, like loyalty-building coins and utility tokens. Among them is Basic Attention Coin (BAT).

The Basic Attention Token (BAT) is a specialized utility token which will be solely used within the Brave-Browser Ecosystem. The Brave Browser is an internet browser whose build is comparable to that of Google Chrome Browser. The catch, however, is that Brave-Browser offers integrated Ad Blocker and Tracker Blocker which serves as the solution to the ad spamming that frustrates internet users. This results in faster browsing and small loading times as the user does not have to process ad data as well. The browser also gives its users the option to see ads that are verified by Brave, and if they do so, they will be able to earn BAT tokens that can be used within the Brave ecosystem to purchase several benefits on apps like YouTube and Twitch (Team Brave, 2018).

The company has already launched the Brave-Browser which is a completely working version for desktop and mobile devices. The primary aim of the product is to achieve undisturbed and seamless web browsing which is not plagued by ad spamming. For this purpose, it comes with an integrated advertisement blocker and tracker blocker. Unless and until the user opts for Brave-verified ads, they will not be bothered with any ads. In return for seeing the ads, the users will be able to earn free BAT coins. The Browser comes with many features, and the interface is really clean and easy to use (Team Brave, 2018).

The founders of BAT Token and Brave-Browser are not new to the world of technology. The project was founded by the famous Brendan Eich, who serves as the CEO, and Brian Bondy who has taken the command as CTO of the project.

Brendan Eich is famous for developing LiveScript, which later served as the base for the development of the JavaScript programming language which revolutionized the programming industry (DevChat, 2014). Also, apart from this venture, he was also among the six founders of Mozilla Corporation that introduced Mozilla Firefox’s web browser to a world that heavily relied upon Microsoft’s Internet Explorer. He served both as a CTO and CEO of Mozilla corporation up till 2014, when he had to part ways with the organization over a backlash regarding a donation of $ 1000 he made in support of anti-gay-marriage protest (Kuchler, 2014).

The second co-founder is Brian Bondy, who is no lesser in expertise and relevant skills. He left a mark in the programming industry with his involvement in projects like Khan Academy App for FirefoxOS and Windows 8, among many other interesting applications (TeamPublications, 2014).

The Basic Attention Token (BAT) and Brave Browser are backed by a very strong development team which not only is among the strongest teams of the current crypto sphere but also have all the relevant skills and expertise to build upon the project. Most widely known members are Brendan Eich (CEO) and Ben Livshits (Chief Scientist).

The code for the Brave Browser and BAT blockchain is developed and upgraded by the Brave Software Team. The team is made up of famous names in the programming community. Even though they have not been able to deliver every development according to the deadline, they have achieved much in respect to the Brave project. The developments can be overviewed on GitHub with the latest upgrades available on the site (Team Brave, 2019).

The world of cryptocurrency is not unfamiliar with what BAT holds as its potential. With BRAVE-Browser steadily registering new users each day, it should become one of the most popular web browsers and its faster performance, coupled with its policy on no unapproved advertisement is what will draw more users to the browser. It will also become the next hub for advertisements and many businesses will look towards Brave Browser to advertise their products in a regulated manner.

Advertisement companies are already eyeing the browser and the user base is growing further.

BAT will probably be used to buy premium content or to buy products/services online once it becomes mainstream through the Brave Browser.

The main project under the parent company is the Brave Browser, which is already functioning seamlessly and still undergoing frequent upgrades and fixes from the development team. With Brendan Eich as the CEO, the project is destined to attain greater heights. His insights have previously made a company like Mozilla, and now he has built a team that fits the sphere in all perspectives. Also, potential business contacts and partnerships can further enhance the project.

The roadmap for the project indicates that the next step is to finalize the BAT blockchain, develop regionalized advertisements and internet advertisement companies so that the whole model comes in its working position and starts bearing results.

The advertisement industry is huge with revenues reaching up to a staggering amount of billions of dollars. Brave Browser aims to capture a big portion of that, and if it succeeds in doing so, it will become the first blockchain-based incentive that could make its mark in the industry. Therefore, the potential of the BAT technology is huge.

While many Initial Coin Offerings have been organized by several different cryptocurrencies, none of could come close to what BAT ICO did. The BAT ICO was marked with complete action, where the company raised more than $35 million in a mind-boggling record time of under one minute. Though there have been concerns concerning the inability of many people to participate in the ICO, as only a handful of big shareholders took a chunk out of the BAT supply. One buyer even managed to secure a $4.7 million worth of Basic Attention Token deal (Russell, 2017).

Since then, BAT has frequently managed to maintain its position in the news and among cryptocurrency enthusiasts. Recently, it partnered with the TAP network, which is an advertisement company with over 250,000 clients. This could give Brave-Browser and BAT a real boost in terms of its reach (Tapcoin, 2019).

The BAT community on Reddit is very active with posts being written daily and community managers who contribute to it frequently and look after the network. The Brave Browser has already reached a landmark of 10 million downloads in 2018, with the number of users still growing steadily. Also, users have now started to build their own websites which are compatible with the Brave-Browser (BATGrowth, 2019).

The Brave Software Company has been able to acquire and form meaningful partnerships with different companies. In 2018, it was revealed that Brave has partnered with the famous Dow Jones Media Group. The users of Brave-Browser could access the premium content on the website for free and could also choose to donate BAT tokens that they redeemed on the Brave ecosystem(Team Brave, 2018).

Then in February 2019, Brave Software Company and their BAT token bagged another major partnership with the TAP network. Brave Browser could now use the 250,000 clients of the TAP network and distribute its advertisements through them, gaining a handful of reach (Tapcoin, 2019).

Although BAT can be compared to the likes of LEO Token and Huobi Token which are loyalty-building tokens that can only be used within the ecosystem of their respective products, there are not many coins that can compete with BAT in terms of technological benefits. There are no substitutes with their own browser development teams that can compete with BAT in the field of advertisement.