Basic Attention Token (BAT) - Ethereum blockchain-based advertising
Basic Attention Token radically improves the efficiency of digital advertising by creating a new unit of exchange between publishers, advertisers and users. It all happens on the Ethereum blockchain.
The value of the token is based on user attention, which simply means a person’s focused mental engagement.
The existing digital advertising marketplace injures key stakeholders. The introduction of BAT allows publishers, advertisers, and users to connect in a more efficient, transparent and decentralized marketplace that
reduces fraud, privacy violations, and malvertisements while increasing publisher revenue.
BATs are based on user attention, which is really just focused mental engagement. BATs will be made available for crowdsale in the near future.
The advertising ecosystem started out as a marketplace where publishers, advertisers, and users were the main actors, but it is now overrun by “middleman” ad exchanges, complicated behavioral and cross-device user tracking, and opaque cross-party sharing through data management platforms.
This has translated into advertisers facing poor reporting and targeting, and publishers losing billions in revenue — while fraud has skyrocketed. Users have lost their privacy, face increasing malware risks, pay high charges to download trackers and ads, and suffer slow speeds. This has driven the adoption of ad blocking software, which is now on over 600 million mobile devices and desktops.
A few key numbers tell the story of today’s broken digital advertising landscape:
- Over the last 12 years, publishers have lost approximately 66% of their revenue.
- In 2016, ad fraud created by Internet bots cost advertisers $7.2 billion, up from $6.3 billion in 2015.
- Up to 50% of the average user’s mobile data is used for ads and trackers, costing up to $23 a month.
- Users face slow page loads and as much as 21% less battery life.
- Google and Facebook, which together claim 73% of digital ad revenue and 99% of all growth, are exacerbating the crisis.
Presently, publishers are paid by monetizing attention via a complex network of intermediary players through ad networks and other such tools. With the onslaught of parasitic actors, publishers are getting very little revenue.
A new system is needed to properly value user attention. It must reward and protect the user, while giving better conversion to advertisers and higher yield to publishers.
Fairness, anonymity, and impact using proven blockchain technology
In the new blockchain-based digital advertising platform, users will opt in to receive advertising. If they do, their attention will be privately monitored on-device in the Brave browser, without tracking. Publishers will be rewarded accordingly with BATs — tokens of exchange in a secure, private, and anonymous advertising system based in the browser and the mobile app webview. Users will also get a share of BATs for participating.
By keeping the data on the device, encrypting the data, and shielding the identities of our users as a core principle, BAT forms a bond with users that proves that not only does their data hold value, it holds substantial value that has been ignored and exploited by the middlemen year after year in the current industry model.
In sum, the BAT system provides the following benefits to:
- Users: strong privacy and security when viewing advertisements, improved relevance and performance, and a share of tokens.
- Publishers: improved revenue, better reporting, and less fraud.
- Advertisers: less expensive customer attention, less fraud, and better attribution.
Anonymous machine learning for relevance; open source for transparency
In early stages, the BAT will be specifically tied to Brave browsers and Brave servers, along with verified publishers. Ad fraud will be reduced by publication of all source code for auditing, and by cryptographically secure transactions. Publisher payment will be through the BAT system.
The BAT exchange will be rolled out in phases over the coming months:
- Pre-1.0 BAT: Brave already has an anonymized ledger system for making donations and payments to publishers based on user attention. The secure vault using the ANONIZE algorithm to ensure customer privacy is an important piece of the BAT ecosystem which is already in place and deployed in Brave. Brave is already measuring user attention at the browser and distributing donations to the publishers using this system.
- 1.0 BAT: BAT wallet integrated with the Brave browser. Verification and transactions to be handled by Brave’s internal Zero Knowledge Proof (ZKP) ledger system to protect individual user anonymity from advertisers, publishers and third parties. Ad inventory will be valued, and transactions will be calculated from reported Basic Attention Metric (BAM) data.
- Beyond 1.0 BAT: Make the transfer and verification process entirely distributed on Ethereum using a state channel scheme with zero knowledge proof protocol for ensuring user privacy. Add alternate BAM metrics based on advertiser feedback. This will allow for full user privacy as well as a decentralized audit trail for advertisers, users and publishers to ensure they received correct payments for the advertising delivered through the BAT network.
The Basic Attention Token is uniquely positioned to reform the ad-tech ecosystem because it is the ability to privately monitor and anonymously confirm user intent at the browser level which allows for the development of rich metrics for user attention. Attention is measured as viewed for content and ads only in the browser’s active tab in real time. The Attention Value for the ad will be calculated based on incremental duration and pixels in view in proportion to relevant content, prior to any direct engagement with the ad. We will define further anonymous cost-per-action models as the system develops.
For placement, Ads will be matched with user interests using local machine learning algorithms to judge the content to which the user is paying attention, in the context of tabs, viewability, and many other variables not available to remote trackers. This matching will be done privately, on the device only, without any signal out. This means fewer, but more relevant and valuable ads. Several scoring algorithms have been tried with the Brave donation ledger system, which automatically donates an amount proportional to the attention given to a website.
As Brave moves to a fully decentralized micropayment system, we expect other developers to use our free and open source infrastructure to develop their own use cases for BAT. We want BAT and the tools associated with it to become widely adopted web standards for future development of web content, solving the important problem of monetizing publisher content while protecting user privacy. Publishers, advertisers and users who view web content deserve a private, secure and well engineered future.
Blockchain Digital Advertising.
Introducing a decentralized, transparent digital ad exchange based on Ethereum Blockchain.
How It Works
The Brave browser anonymously monitors user attention, then rewards publishers accordingly with BATs.
Attention is measured as viewed for content and ads only in the browser’s active tab in real time. The Attention Value for the ad will be calculated based on incremental duration and pixels in view in proportion to relevant content, prior to any direct engagement with the ad. We will define further anonymous cost-per-action models as the system develops.
Ads are then anonymously matched with customer interests using local machine learning algorithms. This means less irrelevant ads.
Who Gets What?
Users viewing ads will be rewarded with BATs. BATs can be used for premium content or services on the Brave platform.
Publishers will receive the lion’s
share of the total ad revenue spend. We anticipate the users will also
donate back some tokens to the publishers, increasing their revenue.
Brave will work with publishers and advertisers to establish best practices for judging user attention. One potential metric: the number of total views of advertising content for a certain number of seconds. Or, points assigned on the length of a view.
More Privacy, Less Fraud
Users’ privacy is protected through the use of the ANONIZE algorithm. And ad fraud will be prevented or reduced by publication of source code and cryptographically secure transactions.
Parts of the Solution are Code Complete
Much of the infrastructure required to deploy BAT at the back end is “code complete,” meaning it’s currently in place and being used to distribute donations to publishers based on customer attention. This code will be leveraged to deploy BAT as soon as possible.
Token launch FAQ:
What does BAT stand for and what is it?
Basic Attention Token. The BAT, a token based on the Ethereum technology, is a unit of exhange in a new Blockchain based digital advertising system. User attention is privately monitored in the Brave browser and publishers are rewarded accordingly with BATs. Users also get a share of BATs for participating.
What is the total BAT supply and initial distribution?
We will provide an answer soon.
When does the Crowdsale hapen?
We will provide an answer soon.
What crypto-currencies are accepted in the crowdsale?
We will provide an answer soon.
What is the price of BAT?
We will provide an answer soon.
How can I participate?
We will provide an answer soon.
What do BATs represent?
BATs are tokens in a new Blockchain-based digital advertising platform. They are not refundable, nor are they securities or for speculation. There is no promise of future performance. There is no suggestion or promise that BAT has or will hold a particular value. BATs no rights in the company and do not represent participation in the company. BAT tokens are sold as a functional good. Any value received by company may be spent without conditions. BATs are meant only for experts in cryptographic tokens and blockchain-based software systems.
How will Brave use ETH raised during token launch?
The ETH received in the crowdsale will by used by Brave Software to build out the Blockchain-based digital advertising system, which uses BATs as a unit of exchange. Existing Brave investors will not receive any amount of ETH.
How will Brave store the funds?
Brave is using a secure multisig wallet design similar to those used by Gnosis and Golem to hold the ETH.
Are BAT tokens transferable?
After tokens have been released to participants in the token launch, then they can be transferred. Tokens used in the Browser may only be donated or used to pay publishers for premium content or for other services. Tokens may also be used by publishers for promotions.
If you want donate me here the address :
Announcing the Targeted Amount of the Upcoming Sale of Basic Attention Tokens
Today, we are announcing the amount, distribution and use of funds for the upcoming Basic Attention Token (BAT) sale.
In the upcoming BAT crowdsale, we are targeting a raise of as much as $15 million and a cap of 1 billion tokens. We do not plan to have a follow-on offering.
As we near the sale, we will provide specific instructions on how to participate, including how you will need to send Ethereum (ETH) to a smart contract at an address that we will disclose.
In the crowdsale, we plan to distribute tokens in the following proportion:
- Tokens available for crowdsale: 70>#/li###
- The BAT team: 20>#/li###
- User growth pool: 10>#/li###
The token distribution covers the phased release of software previously described in the white paper. The first phase involves the roll-out of a new browser, Brave, a fast, open source, privacy-focused browser that blocks ads and trackers, and contains an opt-in ledger system that measures user attention — without violating privacy — to accurately reward publishers. The next phase involves the introduction of BAT, which will be used to compensate publishers for user attention, or focused mental engagement.
Part of the token distribution will be given to Brave browser users to incentivize them to join the new blockchain-based system. A certain number of users will receive BATs for downloading the Brave browser. Users will be able to spend these tokens for regular or premium content, or they can donate them back to their favorite publishers.
The bulk of the Ethereum raised during the crowdsale (the 70%) will be used to fund the development and growth of the BAT ecosystem, which includes the Ethereum-based smart contract system and the Brave browser. It is important to note that the Brave browser is just one platform for BAT and our goal is to lay the foundation so that other developers can build other apps in the BAT ecosystem. The vision is that BAT will be used across the web to reward producers for great content in new and innovative ways.
Here is a more detailed breakdown of how we plan to spend the funds we raise:
- BAT Team 58% of budget: The team consists of just over 20 engineers. This financing allows for the rollout of the BAT solution, including the necessary adjustments to and development of the existing Brave browser technology.
- Administration 10% of budget:Consists of BAT legal, security, accounting and other associated administration costs.
- Marketing 12% of budget:Marketing will focus on expanding awareness and adoption of the Brave browser and the BAT solution among users, publishers and advertisers. This also includes the growth and maintenance of the world-wide community.
- Contractors 13% of budget: These funds will be directed at third-party providers offering engineering, marketing, growth-hacking, PR, partnerships, affiliate programs and more.
- Contingency 7% of budget: This is a set-aside to plan for unforeseen costs.
We’ll be sharing the date and time of the crowdsale soon, but meanwhile, to remain notified of the latest updates, please sign up for our newsletter via ourhomepage if you have not done so already. We welcome your feedback, so if you have any, please reach out to us on Twitter, Slack or Reddit.