Categories: EducationFAQ

What Is DENT Cryptocurrency?

We have seen dozens of new projects in the world of blockchain and cryptocurrency over the years. Surprisingly, very few aim to combine blockchain and digital assets with mobile data. DENT proves to be rather different in this regard, as it aims to create an open marketplace to sell and buy mobile data. As such, the DENT cryptocurrency is of great interest to people all over the world.

What is DENT Trying to Achieve?

Tokenizing mobile data on a global scale will not be an easy feat. Trading this tokenized data in a peer-to-peer fashion is even more challenging. So far, DENT has shown that its product works, with an iOS app having been released in several countries already. Its Android counterpart is slated for release in February, although no specific date has been communicated so far. The company also has solid partnerships with some of the biggest telcos in the world.

How Does DENT Factor in?

There are many aspects to revolutionizing mobile data on a global scale. First of all, DENT aims to liberate mobile data. To do so, the DENT cryptocurrency – listed as DENT on exchanges – will be the global currency for mobile data between users and telcos. This cryptocurrency allows for a data sharing economy where anyone can freely buy, sell, and donate mobile data to anyone who is part of the ecosystem. Someone in India could sell cheap excess data to someone in the US, for example.

Secondly, international roaming needs to be addressed in an aggressive manner. In the European Union, international roaming has become a non-issue for Europeans, but it’s still a big problem for everyone else, including anyone traveling abroad. With the DENT cryptocurrency, data roaming cost drivers are eliminated. It allows anyone in the world to enjoy cheaper mobile data regardless of where they are in the world. This will all become more apparent once the P2P marketplace for mobile data goes live.

Last but not least, DENT focuses on automating purchases of mobile data for the best price. This does not just apply to smartphones and tablets, but also IoT devices. Users who buy data with the DENT cryptocurrency will get the best price from the most suitable operator in their region. These packages can be accessed using the DENT mobile app for Android and iOS. So far, the iOS app has received a lot of positive feedback, as it works just as advertised. There is still some work to be done in terms of adding more telcos and adjusting in-app prices more quickly based on the value of DENT.

What is Next for the DENT Cryptocurrency?

Even though the project’s iOS app works, the Android version won’t be released until later this month. Furthermore, we will see global prepaid top-ups with the DENT cryptocurrency enabled in a few months from now. Adding more data operators is an ongoing process as well. The DENT exchange will launch in Q3 of 2018, which will be a major selling point for this project. Updated mobile apps will be introduced later this year as well. All things considered, the foundation for DENT is certainly there, but the team has yet to deliver on most of its promises.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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JP Buntinx
Tags: DENTMobile DataTelco

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