The Basic Attention Token (BAT) is a kind of decentralized ad exchange based on the Ethereum platform and a significant component of Ethereum’s ecosystem overall. In its ICO (Initial Coin Offering) on 31 May 2017, Brave Software International sold 1,000,000,000 tokens for a total of 156,250 Ethereum (US$35M) in less than 30 seconds. An additional 500,000,000 BAT was retained by the company, to be used to promote the adoption of the platform. Notably, the name of ZCash’s Zooko Wilcox is present as an advisor to the BAT project. The original white paper which describes BAT’s concept, idea and proposition in more depth and detail can be found.

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