The Basic Attention Token is an ERC-20 token native to the privacy-focused Brave browser. It aims to improve the efficiency of digital advertising by serving as a token that can be exchanged between publishers, advertisers, and users. The Brave browser is an intuitive browser that measures user attention, and the user is matched with ads serving their interests in an anonymous manner.
The token’s utility is driven by user attention whereby users opt-in to be compensated for viewing advertisements on the Brave browser and are paid out in BAT. The aim of the browser is to preserve user privacy while fairly rewarding publishers and advertisers, cutting out the “middleman”.
The founders originally planned for bitcoin to be the native asset of the Brave web browser but concerns over scalability issues led the team to create their own token to be used on the browser. In May 2017, the Basic Attention Token (BAT) was released, raising more than $35 million to pay for further developments of the Brave web browser and BAT. Today, anyone using the Brave browser can be rewarded in BAT.