BAT ICO Completed In Just 24 Seconds

Brendan Eich, creator of JavaScript and co-founder of Mozilla & Firefox, backed Basic Attention Token (BAT) completed its initial coin offering in just 24 seconds. Basic Attention Token. The BAT, a token based on the Ethereum technology, can be used to obtain a variety of advertising and attention-based services on the Brave platform, 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.he solution is a decentralized, transparent digital ad exchange based on Blockchain for digital advertising.

WHAT IS BAT ?

The first component is Brave, a fast, open source, privacy-focused browser that blocks third party ads and trackers, and builds in a ledger system that measures user attention to reward publishers accordingly. Bravewill now introduce BAT (Basic Attention Token), a token for a decentralized adexchange.

It compensates the browser user for attention while protecting privacy. BAT connects advertisers, publishers, and users and is denominated by relevant user attention, while removing social and economic costs associated with existing ad networks, e.g., fraud, privacy violations, and malvertising.

BAT is a payment system that rewards and protects the user while giving better conversion to ad-vertisers and higher yield to publishers. We see BAT and associated technologies as a future part of web standards, solving the important problem of monetizing publisher content while protecting user privacy.

WHAT DOES BAT REPRESENT?

BATs are tokens intended for use on the Brave platform, a new Blockchain-based digital advertising platform. Ownership of BAT carries no rights other than the right to use BAT as a means to obtain services on the Brave platform, and to enable usage of and interaction with the Brave platform, if successfully completed and deployed.

BAT do not represent or confer any ownership right or stake, share or security or equivalent rights, or any right to receive future revenue shares, intellectual property rights or any other form of participation in or relating to the Brave platform, and/or Brave and its affiliates. BAT are not refundable and are not intended to be a digital currency, security, commodity or any other kind of financial instrument.

Additional information regarding the utility of BAT on the Brave platform is available in our token sale terms and conditions (pending).

HOW WAS BAT TOKENS DISTRIBUTED?

In the token sale, we plan to distribute tokens as follows:

Tokens available for sale: 1 billion BAT
BAT development pool: 200 million BAT
User growth pool: 300 million BAT

The ETH received in the token sale will be used by Brave to build out Brave’s Blockchain-based digital advertising platform, which uses BATs as a token for obtaining services on the Brave platform. Existing Brave investors will not receive any amount of ETH. Brave will use the standard Ethereum multi-signature wallet to store ETH.

ARE BAT TOKENS TRANSFERABLE?

Tokens are immediately transferable. 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.