Why Basic Attention Token Will Skyrocket
Cryptocurrencies and blockchain technology have been the hot topic of discussion in the market lately. Keeping aside few market volatilities, the meteoric rise of Bitcoin and other cryptocurrencies has attracted significant investor interest in recent years. Along with major cryptocurrencies, several altcoins have also followed suit and have skyrocketed their prices recently. Moreover, a couple of altcoins have even outperformed Bitcoin and the rest of the market.
One such coin that had significant fame over the past few months is the Basic Attention Token (BAT). The token broke all the price records and reached a mark of $1.6, in April marking its new all-time high. BAT focuses on a different but crucial sector of the market - digital advertising. Internet privacy is one of the most burning issues in the digital age. BAT, with its unique blockchain technology and Brave browser, enhances security, fairness, and efficiency.
So let us see why predictions say that Basic Attention Token will skyrocket this year.
Why Choose Basic Attention Token?
The Basic Attention Token is an ERC-20 utility token of the Brave browser. Brave is a specialized web browser that ensures user privacy and security by blocking trackers and offering access to many advertising services.
BAT is a unique project as it tracks the way users interact with advertising content with the help of the Ethereum blockchain. By deploying the Brave web browser, it follows online user’s attention and time spent on the website without violating their privacy. Further, the data is stored in a distributed ledger to ensure a seamless consumer experience with fewer irrelevant advertisements.
Additionally, users can choose to watch advertisements in return for a BAT token. BAT platform matches relevant ads for users without collecting any of their personal information, complying with security. For this reason, the token can be utilized as a valuable unit of account between advertisers, publishers, and users.
BAT is a unique crypto token because:
- Publishers receive BAT token when users watch or click on the ads on their sites.
- Advertisers pay BAT to publishers to bring their ads to users and benefit from lower overhead costs. With targeted ads for their users, they can also enjoy higher user engagement.
- Finally, users can earn BAT for viewing their favourite ads without sacrificing their privacy.
Is Basic Attention Token Going To Skyrocket This Year?
Unlike any other cryptocurrencies in the market, the BAT token has an entirely different approach and offers numerous use cases in the digital advertising sector. The token can also be used for engaging in several other activities on the Brave browser platform.
BAT is thus an efficient utility token of Brave, which acts as a decentralized advertising platform. It reduces fraud and malicious advertisements and enhances the effectiveness of targeted ads. The project hopes to create a more transparent, safe, and fair environment for advertising which is one significant reason BAT will skyrocket in the coming years.
Don't Miss: Why Basic Attention Token Is Going To Explode
Factors Driving Basic Attention Token
Apart from its use cases on the Brave platform, significant partnerships, listings, and network upgrades on the Brave browser have also fueled the growth of BAT token.
#1 The Federated Learning With Privacy Technique
The recommendation system has become ubiquitous in today's internet world. Almost all content-sharing platforms, e-commerce sites, and social networks deploy some form of recommendation technique to personalize their user experience. But here, users have to pay the great expense of revealing their information and user privacy in return.
Brave has recently proposed a new technique known as the Federated Learning With Privacy to offer users the recommendation service without collecting their behavioural data. Instead, it is a machine-learning technique that stores data locally on devices rather than sharing it to a central server.
Announcing the proposal in their recent blog post, the team said this would be a new framework for making on-device privacy-preserving recommendations that do not require user behaviour data to be collected on a server. This will boost the adoption of the Brave browser, eventually accelerating BAT's price to skyrocket.
#2 The Brave Search Beta Now On Brave Browser
The Brave web browser and BAT token have taken their privacy-focused approach to the next level by launching its own search engine, the Brave Search, a few years back. Earlier this year, the beta version of the search engine was made available to all Brave users as a search option on multiple platforms like desktop, Android, and IOS.
The team announced the launch in March 2021, after which the BAT token had a tremendous uprise. The engine is based on the Tailcat project to maintain the project’s privacy-first ethos. Tailcat search engine is capable of delivering quality output for users without compromising their privacy. Unlike Google, it does not collect user’s IP addresses or even personalize results based on identifying information.
This independent open search engine is built around the philosophy that “the user comes first, not the advertising and data industries,” which will back up Brave and BAT in achieving their goal.
#3 The Grayscale-Basic Attention Token Trust
BAT has registered its new record high of $1.65 ever since its inception post the announcement made by the Digital asset investment giant Grayscale. Grayscale has added a new BAT cryptocurrency trust in March along with four other trusts. Being one of the largest digital currency asset managers, the Grayscale-Basic Attention Token Trust would draw global attention for BAT, thus skyrocketing its price.
#4 Building Its Own Decentralized Exchange (DEX) Aggregator
Yet another significant functionality that would eventually drive BAT to skyrocket shortly is its plans to build its own decentralized exchange (DEX) aggregator. According to BAT Roadmap 2.0, which was announced on February 2021, the new DEX aggregator would offer discounts for BAT holders. The new addition will extend the firm’s reach beyond the confines of web browsing to the multibillion-dollar industry of crypto-based protocols - the decentralized finance.
Why BAT Is Going To Skyrocket - Expert Predictions
Currently trading at $0.546394, the BAT token has received immense popularity and attention from institutions and investors in recent weeks. Predicting the future of the token might be a difficult attempt, but let us consider some of the significant BAT forecast data from experts.
Experts from Digital Coin price predict the BAT token will hit $2.40 by the end of 2021. Long-term predictions say that the coin might hit almost $5.57 by 2025. According to Wallet Investor, BAT might end the year with $1.32.
Should You Invest $1000 in Basic Attention Token?
With BAT becoming one of the first assets supported as collateral by MakerDAO, Compound, and other leading DeFi protocols, the token’s utility has expanded beyond a mere Brave reward token. Enhancing the Brave browser through federated learning is merely the first step to BAT and Brave’s ultimate goal of enhancing the digital user experience.
With the increasing demand for user-first alternatives worldwide, the Brave browser and BAT token have seen unprecedented growth in 2021. Brave has reached over 25 million monthly active users and was announced as the best browser in The New York Times article on privacy-focused browsers.
Additionally, BAT was also listed on another Japanese exchange, the Bitbank, accelerating its growth and popularity. Given all its new upgrades, listings, adoptions, and the token’s current price, Basic Attention Token is one of the best assets for investors to consider now.
The Basic Attention Token has a unique approach. Unlike other altcoins in the market, it aims to launch digital advertising into the age of cryptocurrency with the help of the Brave browser. Considering its consistent rally and increased popularity, the team is taking successful steps towards its purported goal. Moreover, the Brave Search and Brave browser constitute the industry's first independent, privacy-preserving alternative to Google Search and Google Chrome.
Needless to say, if the team continues to keep its momentum with new coalitions and upgrades, the Basic Attention Token could likely skyrocket in the near future.
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