Contrary to many opinions, Bitcoin is not the sole cryptocurrency in circulation (even though it is the most famous apart from Ethereum). Various currencies are increasing in popularity, such as Dent (DENT). This is mainly due to its dedication to give users an exclusive mobile data exchange, instead of reliance on computers alone.
What is Dent?
Even if you are unfamiliar with DENT, you probably know Ethereum (among the top three cryptocurrencies worldwide). This currency exists to change the worldwide telecommunications industry.
DENT Wireless Limited is the company behind this coin, and it aims to free mobile data through allowing anyone to transact and donate data on the Ethereum blockchain. Because mobile data has become a necessity, this currency promises to become a major commodity especially for people in developing countries. Through this ecosystem, users can communicate with each other through a blockchain platform, to transact their mobile data.
Why is Dent different?
The blockchain technology of Ethereum acts as a basis of improving Dent. Since it is among the vital Ethereum components, it seeks to improve user experience in the following ways:
Freeing mobile data
The DENT token is set to be the major currency for mobile data, and this will build a data economy where you can sell, buy and donate mobile data.
Interrupting international roaming
DENT tokens will ease the elimination of roaming costs such as expensive routing costs from telecommunication providers.
Allow for automatic purchases of mobile data
The platform allows you to buy data packages automatically. Using the best price from the most suitable provider in their regions, the user does not need to worry about getting too little or too much data.
Alternative coins to use
Dent has the potential for increasing popularity with time. However, other coins provide viable alternatives, and we have put a list of some of them.
Lisk – founded in 2016, it aims to simplify development of blockchain technology, therefore allowing for faster transactions.
Bitcoin/XBT – the most famous cryptocurrency, from 2009. It is similar to Dent.IN because of blockchain application system.
Ripple/XRP – based on open-source internet protocol currency, and formed in 2012.
Cardano – thought to be an open-source digital currency, and constantly evolves itself from research and scientific philosophies.
Ethereum/ETH – this is a 2015 decentralized software platform allowing smart contracts to operate without interference from third parties.
NEM – this is another blockchain currency from 2015, and utilizes Java script in its coding.
How Dent works
The idea of this currency is monetizing data and changing its sharing or donation. All operations happen within Ethereum blockchain nodes, and this gives it a wider acceptance rate, especially among Ethereum users.
DENT seeks to increase the efficiency of data pricing, making it transparent as well. For example, a user can exchange their data package and get something more suitable – particularly because eSMS are increasing in popularity. This cryptocurrency therefore, allows more users to engage with each other through mobile phones. You can also sell your mobile data that is unused.
The mobile app
This acts as the centre for the DENT ecosystem, and it is available on both the Android and iOS app stores. This app contains the wallet of the user (it has their DENT tokens), as well as a user-friendly interface for donating, selling and buying data packages to other users.
When you want to begin using the app, you register your number and confirm it. You can then see the number of users within your country or the world, as well as seeing the market place of your country to view the data rates available. Another thing to see is the price of DENT tokens with time, and your earnings.
Dent prices and trading history
Since the platform is recent, it does not have an extensive history – but so far, the indications have been positive in terms of its value and the security it gives its users.
In the beginning of September 2017, the value of the coin $0.005 per token, while a few months later (December), it rose to $0.016. Its complete net worth has achieved a volume of $159.5 million. The coin gained significantly within the last six months, but has also suffered its share of slight decreases, as with any other digital currency platform.
Is it worth trading in it?
This answer to this question is complicated, since even experts generally see investing in cryptocurrency as a risky venture with low returns.
The success of investment will however, depend on the uptake by individuals and businesses. This platform offers you a wide range of services, so we consider it a wise investment to make, provided you conduct your research properly.
Dent gives its users (particularly Ethereum users) a good choice, especially in regards to mobile data use. This gives it high potential, particularly in 2018 and future years, because it allows anyone to thrive.