The cryptocurrency world is filled with unique projects that seek to break the mold of decentralized networks with tokens that provide monetary value based on market forces. Dogecoin, for example, evolved from being an internet joke based on the Litecoin blockchain to becoming a bona fide currency on the Reddit social network. There is also PonziCoin, a digital currency that is exactly what its name implies: a pyramid scheme blockchain.
Introducing the Basic Attention Token
Basic Attention Token is one of those seemingly strange cryptocurrency projects that actually make a lot of sense once you understand their goal. This token runs on a blockchain that follows the Ethereum open source protocol; it was recently listed by the Coinbase exchange for the purpose of trading as BAT, and it currently yields about three pennies per token.
Another problem faced by digital marketers is related to the information they get from major online advertising networks. Click fraud is an issue that is making companies and advertisers wary about digital promotion systems; entire networks of malicious websites and bots that simulate human clicks have been discovered in many countries, and they are notoriously difficult to track down.
How BAT Operates
BAT works with the Brave web browser, an app created by one of the major developers involved with the Mozilla Foundation and the Firefox browser. The transactions can be described as rewards; Brave browser users are bound to see and interact with online ads, and their attention merits the reward of BATs. This attention is monitored by the browser and protected with a layer of anonymity so that it can be reported to publishers who may also receive BATs for their work.