Mobile devices have become our trusted sidekick to navigate through modern times by giving us unrestricted access to the internet and its vast reserves of knowledge. However, this does come at a price, mobile data, especially in developing nations can be extremely expensive and limits their access. Another pain point of mobile data is that it is restricted to regional providers, not many cellular carriers allow you to use your mobile data across borders and when they do, they charge users a premium.
In the sea of different cryptocurrencies, one project has recognised this problem and wants to tackle it using the blockchain and the power of decentralised trading. Dent coin aims to disrupt the mobile operator industry by creating an open marketplace for buying and selling of mobile data.
WHAT IS DENT (DENT)?
Dent coin was launched by a company called DENT Wireless Limited with the purpose of creating DENT was the idea of repurposing data, and the way data is being stored, shared, paid for and sold. Dent is focused on becoming the first mobile data cryptocurrency where Dent developers are hoping to transfer coin operations to mobile usage, that way disrupting the by far known system of the global telecommunications industry, aiming at revolutionizing the way people are exchanging data.
DENT Wireless is backed by the serial entrepreneur and Internet pioneer Mikko Linnamäki, who co-founded DOVECOT, the world’s most popular IMAP server with a 72% global market share and an install base of 4 million Dovecot servers.
DENT aims to become the global exchange for mobile data where the world’s mobile data is sold, bought or donated, just like other commodities such as currencies are traded today. DENT will make data pricing transparent, and through automated bidding increases the efficiency of purchase, just like spot markets and mobile advertising today.
Dent uses Ethereum blockchain for exchanging, selling and even donating data and what is revolutionary about this digital asset is the fact that Dent is seeking to transfer all operations to mobile devices so that the users would be able to make transactions and manipulate data by using mobile devices.
An overview of how Dent will work
WHY SHOULD YOU PAY ATTENTION TO DENT?
Liberating mobile data
DENT wants to become the worldwide currency for mobile data. With its “Data Sharing Economy”, users will be able to buy, sell, or donate their mobile data.
Disrupting international roaming
It will remove the causes behind large data roaming costs, such as the expensive routings between telcos. This will then lower the costs for the users.
Automating mobile data purchases
It will set up the ability to auto-purchase mobile data from the most suitable operator in the user’s region. This will eliminate the problem of getting too much or too little data and will provide the user with the best possible price for their needs.
Dent currently has a working product in its mobile app however data packages are limited to the countries and carriers they have agreements with.
WHAT IS DENT USED FOR?
Over the past few years, mobile data has become very important and valuable commodity just like Gold. It’s a commodity that many people around the world rely on not only to improve their lives by access to the internet but in many countries data is used as currency, people trade data or goods and services.
The current data market paradigm makes data a volatile commodity and many users do not extract the full value of their purchase as “data expires” and they essentially lose an asset they paid for.
Data also becomes expensive when travelling as data relays between international carriers also place the cost on the consumer in order to access the internet instead of allowing data packages to access local access points.
Using the ecosystem of DENT, users are able to connect to one another using the Ethereum blockchain and buy, sell or exchange data packages from all over the world freely in a peer to peer transaction.
CAN YOU MINE DENT?
No, Dent is an ER20 Token built on the Ethereum blockchain and it’s not a minable coin. The crypto-side supply was capped in the ICO phase. While the rest of the supply is reserved for the functionality of the service and operational costs.
CAN YOU EARN DENT?
Dent users can earn digital currency via exchanges. Users can earn coins through trading on different fiat and cryptocurrencies and take advantage of market fluctuations.
Selling your data
Using the Dent mobile app you will be able to sell your excess local data packages to anyone seeking a buying order on the Dent marketplace. The user will pay you for the data at the price you request and you will receive Dent tokens in return.
You can then keep the Dent tokens to buy data for yourself or exchange those tokens for cash on an exchange.
WHERE CAN YOU BUY DENT?
Dent is listed on a few of international cryptocurrency exchanges and is actively traded on websites like:
SHOULD YOU INVEST IN DENT?
Dent has a solid market to play in with a massive demand, a real-world problem it can solve and means capturing monetizing grey markets. It also has a functional product in the mobile app and it has to establish mobile connectivity with India and Brazil, which drew 40 million users to Dent. This seemingly small step has driven the coin up with a larger market cap, also bringing more DENT coins in circulation and consequently raising the price per unit that this coin has.
The next step would be to establishing connectivity of crypto and mobile data exchange to the United States and Mexico, which should increase the number of users by a few more million.
I have no doubt consumers will take to the concept of Dent very easily and it would not be a hard sell for buy-in. I do however fear that mobile carriers may want to stifle Dent’s growth, by giving up power to the free market, especially in regions where the carrier has become the monopoly.
If Dent can agree to work in conjunction with mobile carriers, this project could be one that does disrupt a truly archaic market and give users better value for money through free market trade.
If you want to know more about cryptocurrency don’t be shy we’re happy to assist. Simply contact us
Disclaimer: This article should not be taken as, and is not intended to provide any investment advice and is for educational purposes only. As of the time posting the writers may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency as all investments contain risk.