Basic Attention Token (BAT) is the native cryptocurrency of Brave browser, a decentralized web browser that aims to empower content creators and consumers. The Brave software is one of the worlds most widely used decentralized applications (dApps) and is the first in the crypto market to have more than 1 million users.

The Basic Attention Token crypto serves as the utility token of the Brave ecosystem. Users who download the browser and surf the web through it earn Brave Rewards in BAT for viewing ads.

BAT is also used to incentivize content creators and publishers on the platform. In addition to revenue generated through ads, the Brave browser also pays them through user contributions and tips.

Braves most unique feature, however, is that it offers better ROI for advertisers on its platform without violating end users privacy. Unlike centralized online services, the Web3 dApp Brave does not misuse users browsing data to push targeted advertising, giving them more control over how their data is used.

The Basic Attention Token is the utility token of the Brave browser and is designed as an ERC-20 token on the Ethereum blockchain. It is the native currency among content creators, publishers, advertisers, and end users who utilize Braves decentralized platform designed on blockchain technology.

Heres how it works for each of the participants within the Brave ecosystem:

Content Creators and Publishers

Users who join the Brave Verified Creator Network can receive rewards in BAT tokens whenever they create and publish their work online. The browser offers revenue for viewership and allows them to acquire random BAT rewards from content consumers who wish to contribute or tip them.

Advertisers

Brave offers advertisers a way to generate ad campaigns with higher effectiveness and returns without compromising on users privacy, unlike other leading web browsers in the market. Advertisers can pay content publishers in BAT to capture the users attention and plug their ads into their content.

End Users

End users receive payment in BAT for viewing and interacting with ads pushed on the Brave web browser. The Basic Attention Token incentivizes their interaction with the browser and its content, making them active participants in the marketing lifecycle through the power of decentralization.

In addition to existing on Ethereum as an ERC-20 token, the BAT crypto can also be bridged to the Solana blockchain to offer utility on the high-speed network.

Developers behind the project are also integrating DeFi capabilities into the BAT coin by introducing the Brave wallet, which has DeFi and NFT support. In addition, the Brave Swaps feature offers multi-chain support and is a convenient way to swap crypto tokens. Paying transaction fees with BAT on Brave Swaps gives users discounts.

Basic Attention Token and the Brave browser were founded by Brendan Eich - founder and CTO at Mozilla, and Brian Bondy - a software engineer with prior experience at Mozilla, Corel Corporation, and Khan Academy. The duo founded Brave in May 2015 as an innovative way to rectify the issues with digital advertising.

The Brave project was a way to empower the industry with decentralization, offering better user privacy and improving value generation and distribution across all stakeholders involved in the world of digital advertising. The first version of the Brave browser went live in January 2016 and raised over $7 million in its first funding round in August.

Although Brave initially used Bitcoin for tipping, scalability concerns about the cryptocurrency led the developers to introduce the native Basic Attention Token (BAT) for the platform. The token was announced in March 2017, and its initial coin offering (ICO) in May 2017 helped the project raise more than $35 million within half an hour.

Brave introduced the Brave Rewards program in November 2019, allowing users to receive a portion of revenues for engaging with ads on the platform. As of October 2022, the platform boasts monthly active users exceeding 57 million, daily active users of more than 19 million, and on-chain transactions of almost 4 million.