History of Basic Attention Token (BAT)

Basic Attention Token (BAT) was created by Brendan Eich, the co-founder of Mozilla Firefox and the inventor of JavaScript. Launched in 2017 by Brave Software, Inc., BAT is an integral part of the Brave browser ecosystem. The primary goal was to redefine the digital advertising landscape by solving issues such as user privacy, ad-blocking, and inefficiencies in advertiser revenue models.

In 2017, Brave Software introduced its initial coin offering (ICO) for BAT, raising around $35 million in under 30 seconds. The project attracted considerable attention due to Eich’s reputation and the unique goals of the token. BAT was designed to create a more efficient and transparent system where users, advertisers, and publishers could all benefit.

The Brave browser was developed alongside BAT to counteract the growing problem of intrusive digital ads and tracking. The conventional digital advertising model is built on third-party tracking, which compromises user privacy and efficiency. Brave aimed to block ads and prevent tracking, all while allowing users to opt into a more controlled and rewarding ad experience.

How it Works

BAT is an Ethereum-based cryptocurrency that’s native to the Brave browser. Users who opt into Brave's advertising system are rewarded with BAT for viewing privacy-respecting ads. At the same time, advertisers are able to pay with BAT to have their ads shown to users who consent. This creates a unique ecosystem where users gain from their attention, publishers earn revenues without invasive ads, and advertisers reach a more engaged and voluntary audience.

The revenue flow of BAT is managed through smart contracts on the Ethereum blockchain. This ensures a level of transparency and fairness that traditional advertising platforms lack. Despite launching with a focus on digital advertising, BAT is also used to create an ecosystem where micropayments can be made directly to online content creators, cutting out intermediary platforms.

Since its launch, BAT has integrated with multiple web platforms. Although it was initially developed for the Brave browser, the ambition is to expand its utility to other browsers and applications.