The Basic Attention Token (BAT) is the native token of the Brave web browser, which is built on the Ethereum blockchain. The token has two founders, Brendan Eich and Brian Bondy. Brenden is also the co-founder of Mozilla and Firefox. The protocol is a blockchain-based system built to attract the media consumer’s attention using the Brave web browser.
Successively, the Basic Attention Token is in use for mediating payments between advertisers and content creators who lend space on their webpage for the ads. Also to users who view the advertisements thus, Brave acts as a blockchain-based advertising platform powered by the BAT token.
Built on Ethereum, BAT is an ERC-20 token that allows the creation and transfer of smart contracts for irreversible payments happening over the network. It works on a PoW consensus like most cryptocurrencies now. One can also mine these tokens. Currently, the token is capped at a total supply of 1.5 billion.