Have you heard of Javascript? If not. Worry not. You actually ‘using’ it or exposed to it every day on your browser or apps. Basic Attention Token or BAT is founded by the Javascript creator. And the idea of BAT is to disrupt and revolutionize the current online advertising milieu that viewed by BAT team as wasteful, inefficient and disrespect of the user’s privacy.

 

 

BAT aims to filter out middlemen and scammers who are damaging the advertising industry. The current advertising environment hurting users, publishers and advertisers.

 

About Basic Attention Token (BAT)

The Basic Attention Token (BAT) is a blockchain-based cryptocurrency project that focuses on digital advertising sphere. It offers a completely open source, transparent, decentralized, and efficient ways that everyone able to benefits.
The CV of the dev team Behind BAT is impressive. It is launched by the creator of JavaScript and co-founder of Mozilla and Firefox and backed by some of the biggest names in the industry. The company has also attracted investments from major players like Founders Fund, Foundation Capital, Propel Venture Partners, Pantera Capital, DCG, Danhua Capital, and Huiyin Blockchain Ventures. Their white paper was published on end of May in conjunction of the launching of their project and Initial Coin Offering that followed.


Basic Attention Token (BAT) And Brave Browser Basic Concept

The token is based on the Ethereum blockchain. The value of each token is based on the user’s attention – described as “a person’s focused mental engagement.”

The first phase of the planned solution, the Brave browser, is already operational and freely downloadable. Brave is a lightning-fast, open source, privacy-focused browser that blocks ads and trackers, as well as using a ledger system that anonymously measures user attention aggregate to accurately reward publishers. The next step is introducing BAT.

BAT is digital currency issued from Ethereum-based smart contract ERC20 token protocol. BAT is used to pays publishers for their content and users for their attention, while providing advertisers with more in return for their ads.

What BAT practical usage and How It Works?

The new web browser will give all users new pleasant experience on surfing the internet. Furthermore, it would be engaged with publishers and advertisers an open, transparent, honest and efficient way to deliver their content and marketing needs.

The Brave browser anonymously monitors user attention, then rewards publishers accordingly with BATs.

 

What BAT practical usage and How It Works

 

The Basic Attention Token can be used to obtain a variety of advertising and attention-based services on the Brave platform, as it is exchanged between publishers, advertisers, and users.

The token’s utility is derived from — or denominated by — user attention.

The Brave browser knows where users spend their time, making it the perfect tool to calculate and reward publishers with BATs. This service creates a transparent and efficient Blockchain-based digital advertising market. Publishers receive more revenue because middlemen and fraud are reduced. Users, who opt in, receive fewer but better-targeted ads that are less prone to malware. And advertisers get better data on their spending.

The Basic Attention Token ecosystem builds on the two fundamental parts stated above.

First, he Brave browser knows where users spend their time, which gives the Brave browser with artificial intelligent backend can be used to calculate and reward publishers with BATs. This leads to a transparent and efficient digital advertising market based on the blockchain.

Everyone benefits: publishers gain more revenue and exposure because middlemen and fraud are reduced. Users who opt in receive fewer ads, but better-targeted ads, that are less prone to malware. And advertisers get better information about their spending.

Another of the key element of the Basic Attention Token system is an “Anonymity Shield” that protects users. This shield prevents advertisers and publishers from accessing or collecting private information from users, or from tracking them across the internet.

How Does Brave Measure Attention?

The entire system is developed on the concept of “attention” – which is why the tokens are called Basic Attention Token. So how does the Brave browser measure attention?

Attention is measured when users are viewing content and ads in the browser’s active tab in real time. Ads will also have an “Attention Value” that’s calculated based on incremental duration and pixels in view in proportion to the relevant content.

Brave will measure customers’ interests using local machine learning algorithms. It will look at which ads you spend the most time paying attention to, then recommend ads based on that information. That means fewer irrelevant ads.

 

Basic Attention Token (BAT) Price and Initial Coin Offering

The ICO

The Brave browser-based Basic Attention Token’s initial coin offering (ICO) launched at the end of May and all the token offered snapped up in less than 30 minutes. On the ICO, BAT planned on offering about one billion BAT. That collection of BAT cost 156,250 ETH, which is just over $35 million. A further 500 million BAT is stored for user growth and “BAT development,” according to Brave, which is not planning another token sale in the future.

One important point to note, the BAT ICO was dominated by a handful of individuals. Only around 130 people actually bought BAT, Coindesk noted, with one buyer scooping up $4.6 million of them (20,000 ETH worth). All in all, Coindesk reported that five buyers acquired half of the total haul, while the 20 biggest spenders bought two-thirds of the available coins.

These might be alarming as more than 90% or more is controlled by few investors. This could raise the risk of price manipulation if they had such intention.  Based on the latest owner shares bracket from the public explorer. There are currently 8923 token address holders, a 30-fold increase from the early stage of post-ICO. The overview is more balanced but over 60% are still controlled by few parties. However, please take note anyone could have multiple addresses.

However, please take note anyone could have multiple addresses. So, we could only speculate on the state of the shareholding ratio as of now. Nonetheless, it is safe to think these big holders are big time investors, not those low-level pump and dump cartels.

The Price and Markets

BAT token is mainly trading on three decentralized exchanges, Bittrex, Liqui and Bter.  These three dominated about 99% of the daily trade on BAT. Bittrex is the biggest BAT exchange which accounted for about 70% of BAT daily volume. BAT is currently traded against BTC, ETH, CNY and USDT.

BAT/BTC Daily Chart. data: bittrex

The price is currently hovering at $0.212219  or 0.00005314 BTC (+26%, from the start of the trade at June 1). From the day perspective, the price was up +8 in 24 hours trading.  The market cap stood at $209 million.

The Dialy volume saw a sharp accumulation from last week. The technical indicators MACD and DMI are slightly underwhelmed.  The price reversed from the crucial support level around 0.00004600. A breakout top off around 0.00005600 could stage a bullish run. Otherwise, the price would possibly range bound between 0.00004700 and 0.00006900.

 

The prospect: Overall altcoin market is still recovering and  Bitcoin mega bull has scooped up all attention at the moment.  Basic Attention Token is a solid crypto asset with great potential. The dev and backers are well-established players.  The upside potential of the token is tremendous. I am fairly confident on BAT and the current price is undervalued. The price fell below ICO price since. Despite the fantastic idea, BAT is still had plenty of hurdles to prove its worth. The Brave browser user adoption rate will be the main deciding factor in the long run.  Check out their roadmap to follows their development stages.

Trade Idea: Buy on breakout around 0.00005600 in the near term.


 

How To Buy Basic Attention Token (BAT)

BAT token is still new in the market, there are not many option to get the token. The viable and simple way to obtain BAT is through Bitcoin. Not direct buy option is available now. If you are still native on digital currency, do take simple steps below to get your Bitcoin. Then, deposit into exchanges which offer BAT. You could transfer your BAT coins to your personal wallet after that.

Step 1

Buy your Bitcoin at these exchanges,

i) Changelly – buy with bank transfer and credit cards. (read here for Changelly guide). There also options to buy altcoins including Ethereum.
ii) Virwox – buy with bank transfer, Paypal, Skrill and credit cards.
iii) Paybis – buy with bank transfer, Paypal, Skrill, credit cards and many more payment options
iv) LocalBitcoins – buy with bank transfer and other payment options

Step 2

Deposits your Bitcoins/Etereum into these exchanges which offer BAT options,

i) Bittrex – Bittrex is now fast becoming one of the biggest cryptocurrency exchange.
ii) Liqui – China-based cryptocurrency-dedicated exchange. It is one of the busiest market.
iii) Bter – Another Chinese exchange which offers quick way to buy BAT.

Step 3 : Basic Attention Token (BAT) Wallets
Transfer your BAT to wallet.
Currently, the easiest way to store your BAT are on Ledger Nano S hardware wallet and MyEtherWallet.

 

For Trades,

Coinigy – The best charting tool for cryptocurrency traders.

 

chart via tradingview

Image via BAT website, pixelbay

Ledger Wallet protects your bitcoins

references,
https://techcrunch.com/2017/06/01/brave-ico-35-million-30-seconds-brendan-eich/
https://cryptoinsider.com/ant-token-sale-raises-25-million-15-minutes/
https://coinmarketcap.com/assets/basic-attention-token/
https://www.cryptocompare.com/coins/bat/markets/ETH
https://www.coinhills.com/market/bat/




Please do your own due diligence before making any investment decision. This article should not serve as investment advice. This post is mainly as reference and tutorial for trading on possible cryptocurrency breakout.