A Review of Dent Exchange Platform
Share This Article
The outrageous fees attached to the purchase of mobile data have left many angry and displeased. However, Dent Exchange was launched to help you monetize your unused data.
Remember, once your data plan expires, it goes back to your data provider, but, with Dent, you will receive monetary value for those unused data of yours.
What is Dent?
Dent offers users some exchange for their mobile data. Mobile devices users can use the Dent platform to buy, sell or even donate their excess mobile data.
The Dent platform is built on the ETH blockchain and it has a native token called ERC-20. The mobile data packages that Dent provides comes in form of smart contracts.
Dent has its mobile app and it is available for download on iOS and Android devices and thus far, it has recorded a total of over 7 million users globally.
Dent is a peer-to-peer network that cuts out all costs of existing data, allows both telecoms and individuals to sell mobile data on the dent network, and regulates the buying process so as to get great deals.
What problem is Dent trying to solve?
Cisco opined that the traffic generated by mobile data was worth above $32 billion and is still growing. As a matter of factly, most mobile data users tend to overuse or underuse their data plans. Irrespective of the data plan you subscribe for, it will expire within a given period of time.
The developers of Dent saw the need to help mobile data providers and users by giving them the opportunity to monetize their data as they wish. With this, there will be flexibility in mobile data purchase and usage.
Who is behind the creation of Dent?
The team behind the Dent project is Dent Wireless Limited. The company was founded in 2014 by Tero Katajainen.
Although other co-founders joined the company in 2017. They are Andreas Vollmer and Mikko Linnamaki. Tero is a Master’s degree holder in Electrical Engineering.
His co-founder Andreas, has had over 12 years of experience in mobile development prior to him joining Tero in establishing the company, Dent. Mikko on the other hand is a serial entrepreneur and also a co-founder at Dovecot.
Dent has its corporate headquarters in Hong Kong but still has an office in Singapore.
How Does Dent Work?
With components like a mobile device, the Ethereum smart contract, a web application, and mobile operators, Dent allows users to exchange and monetize mobile data through technology.
Dent does require a large consumer portfolio to be able to function properly. More users having Dent could translate to a more lucrative market for mobile service providers.
The Dent exchange is a trading platform like forex, stock markets, or similar markets where users and third-party telecos strike deals through the Ethereum blockchain.
The Dent exchange has about seven components: Dent exchange para chain, order management, portfolio management, instrument repository, pricing data, market maker algorithms, and order execution.
With Dent apps, users are allowed to place orders, review price history and other important trading information.
The ETH smart contracts make sure the transfer of Dent is done according to current happenings in the market.
Mobile operators or Telecos are the market players. They provide different data packages for Dent users. Through their platform, users can pay for their services.
Three types of transaction are possible with Dent, they are:
- Peer to peer transaction
- P2P global data package
- IDO by Telecos
NB: Dent gets its revenue via commissions from the Initial Data Offerings.
What is DENT cryptocurrency?
Dent, also called an ERC-20 token is the native currency of the Dent Market. The Dent crypto is used to pay or receive payment for mobile data packages and can also be exchanged into fiat by using a cryptocurrency exchange.
Do not confuse Dent with DCN(Dentacoin). The current supply of Dent in circulation is 17,241,387,101.
You can buy or sell your Dent token o these platforms: Binance, LATOKEN, Lykke Exchange, KuCoin, CoinZest, Cashierest, CoinBene, BITBOX, FCoin, Radar Relay, Allbit, Coinrail, Liquid e.t.c.
You can store Dent safely using the Dent app. Alternatively, you can also store the crypto in any ERC-20 wallet, Ledger Nano S, Metamask, or MyEtherWallert.
Following the launch of its iOS and Android apps in 2017 and 2018 respectively, it has metamorphosed into being a global name in mobile data trading in 2019.
Currently, it is available in 28 countries and still counting. The top five countries that have a huge market for Dent are the Philippines, Myanmar, Indonesia, Kenya, and Bangladesh.
Dont miss important articles during the week. Subscribe to blockbuild weekly digest for updates.