extracted from alchembook.com.[1]
The Basic Attention Token (BAT) was created by the co-founder of Mozilla and Firefox, along with the creator of JavaScript, and it aims to improve the efficiency of digital advertising.
The Basic Attention Token utilizes the ethereum blockchain and a specialized web browser called Brave. The token is used as currency on the Brave platform and can obtain several different advertising services. It is designed to be exchanged between users, advertisers, and publishers, and it is based on an unusual concept, although one that is critically important to advertising companies operating in the digital age: user attention.
Publishers (aside from Google and Facebook) see little by way of incoming revenue, although bots are able to inflict increasing damages in fraud each year. Advertisers lack sufficient targeting methods and information to deliver their content sufficiently.
The developers of BAT believe that by tracking the way that users interact with digital advertising content and storing that information in a distributed ledger, they will be able to enhance the digital advertising experience for all three of these groups. Users will experience fewer ads and content that is better tailored to them. Publishers will find new sources of revenue. And advertisers will be able to better target particular users based on documented user content preference and interests, and they will also be able to avoid fraud more efficiently.[2]
Here's the BAT's white paper.[3] if you want to dig in more.
BAT is one of the only ICO projects that’s still getting people excited. It stands for Basic Attention Token, and its creators are trying to reinvent the way we consume content. The question is, does BAT deserve your attention?
At its heart, Basic Attention Token is designed to replace advertising revenue with a digital token. Instead of giving away your privacy to online trackers, users will be able to pay for content in cryptocurrency. Instead of ad revenue going straight to publishers, you’ll be able to choose which ads you want to see — and if you do want ads, you’ll get a share of the profits.
It is still at an early stage, but the Basic Attention Token team is already well down the road. They’ve designed and built Brave, a web browser that automatically blocks most ads and allows websites to be tipped in BAT tokens. Brave already has millions of active users and thousands of verified publishers.
But can BAT deliver? Brave already has millions of active users, and thousands of verified publishers, making it already a likely candidate for adoption. Of course, there are still plenty of things that can go wrong, but Basic Attention Token received Invest Diva's highest ever assessment for any investment.[4]
On the 1D BAT/USD chart we can see that the asset overall has been tracking inside a descending channel pattern for more than a year now (black lines). Inside the channel, we can also see that the price action consolidated inside a falling wedge shape (light blue shaded area) between April 8, 2019 - February 17, 2019.
On February 16, BAT was able to breakout for a second time out of the falling wedge and just like before, threw back on the resistance as a temporary support before pushing on.
Now the asset appears to be trading closely around key fibonacci levels, particularly the 0.236 and 0.382 levels.[5]
extracted from Bitcoin for Beginners.[6]
