What is Dent (DENT)?
Future of DENT Cryptocurrency and know how to buy DENT

#1- What is DENT?

DENT: The basics

DENT is a blockchain that aims to build a global marketplace where everyone gets an opportunity to purchase and sell units of mobile data.

The telco users are in a trap where the data packs which they buy gets expired every month or in a few months. The DENT team is striving to liberate users from this and create a new opportunity for the telcos too.

DENT blockchain uses the DENT token on its network.

  1. The coin aims to be a major currency all around the world for mobile data amidst the users and Telcos.
  2. DENT also enables the automated buying capability of data packages for users and IoT devices.

IoT refers to the Internet of Things that is a growing network of physical objects with a feature of IP address for the connectivity of the internet, and for the communication that takes place between these objects as well as in other internet-enabled systems and devices.

The complete purpose of creating DENT was to repurpose data and the way data is being shared, stored, sold, and paid for.

DENT Development

  1. DENT Wireless Ltd. was founded in the year 2014 by Tero Katajainen. The blockchain is based in Hong Kong.
  2. It was initially called Commando Coder Ltd. when Tero had decided to build an automated market system with inbuilt risk management functions.
  3. Some of the parts of this product are integrated into the DENT marketplace for enabling the purchasing, donating, and selling the mobile data packages in the marketplace.
  4. In the year 2017, more founders, namely, Mikko Linnamäki and Andreas Vollmer, invested in the company and joined Tero to develop and bring DENT marketplace.
  5. The DENT team has launched the mobile application for Android in 2018 after the launch of its iOS application in December 2017. This was the key scaling factor of the business. With this, the team aims to achieve its goal to provide the easiest way to purchase and remit data.

 

#2 - What are the benefits of DENT?

DENT Technology

Architecture

  1. The DENT exchange is a mixture of present state-of-the-art technologies.
  2. The trading side of DENT is familiar to that of stocks, forex and other such markets. The connectivity between the telcos and the exchange however, resembles that of a virtual operator.

The architecture of DENT

DENT Web-App

The DENT web application enables participants of the market to see the order book and market depth, view the quote feeds, review portfolio, order history, place buy or sell orders, etc.

DENT Mobile App

  1. The DENT mobile app is a very simplified version of the web app.
  2. It allows you to see the quote charts and place basic orders.
  3. It also enables you to view the present portfolio and the DENT balance.

DENT Exchange Component Structure

  1. The DENT exchange is the main container for its business logic.
  2. It will offer integration with 3rd party telcos and the Ethereum blockchain.
  3. The exchange consists of trading instrument repository (data packages for mobile), manages and executes orders, manages the market participants as well as their portfolios, etc.

DENT has various exchange components

  1. Instrument Repository:
    1. It contains the information of the data packages which are available at the DENT exchange like, a 3GB data package from a telco with an expiry. The information is metadata that is not stored in the blockchain.
    2. Every instrument refers to a smart contract in the Ethereum.
  2. Price Data:
    1. The price data, along with real-time bids and offer order book, is stored in a high-speed cache and is fed back to the mobile and web applications.
    2. The data includes the price at which the trade was closed, present highest bid and the lowest offer and can also contain the order book depth data and trade volume.
    3. Data on the history of price is also available for the period of 30 months, 15 months, 5 months, 1 month, 4 hours, and 1 hour.
  3. Portfolio Management:
    1. A trader involved in the exchange will also hold a portfolio of the packages owned.
    2. The portfolio management ensures the updation of the portfolio according to the executed trades and maintains the history of the trades.
  4. Market Maker Algorithms:
    1. This manages final offers and prices of the bid for the packages.
    2. It also manages the price spread and controls the supply of the market according to the set parameters at the initial data offering.
  5. Order Management:
    1. It takes care of the acceptance of offers and bids from various traders in the exchange, including the management of risk along with portfolio management.
    2. Order Management feeds the incoming orders in the market maker algorithms for final placement in the order book.
  6. Order Execution:
    1. This component match offers and bids to fulfill the orders.
    2. As an order is filled, Ethereum smart contract is called for the financial transaction and then the fulfilled order enters into the portfolio.
  7. Proprietary API:
    1. The telcos can expose their APIs to the DENT exchange which can then call them through custom adapters or opt to install a DENT supplied API Listener on their network.
  8. DENT Exchange Parachain:
    1. This works as an escrow amidst the DENT exchange and Ethereum blockchain in order to allow faster execution of trades.

Ethereum Smart Contracts

  1. This executes the financial transactions of DENT.
  2. These are driven by events from the DENT exchange.
  3. On the execution of contracts, the exchange takes over the focus and handles 3rd party transactions.

Virtual Operator/Telco

The Telco or Virtual Operator works as a market maker that provides mobile data packages for the consumers and is also a payment gateway for conventional Premium-SMS/USSD data pack purchases. This is used to seed the DENT exchange.

User-to-user data package transactions

  1. User-to-user transactions include a user placing an offer in the exchange and another user placing a bid.
  2. In cases where the mobile data package plan of a selling party is to be split, the telco of this party requires to first clear and lock the offer.
  3. The party that is purchasing the offer will lock the purchase funds in the DENT exchange parachain. After this, the order will enter the books.
  4. On the fulfillment of an order, the smart contract in Ethereum is triggered and a revenue share occurs on the basis of the rules at the initial data offering.
  5. After transferring the funds, DENT exchange coordinates the splitting possibility or cancels the data package from the selling party and activates the acquired package for the buying party.

Telco data roaming, data package transfer from user to user internationally

  1. When roaming, a customer generally uses the network of some other telco.
  2. In such cases, the telco operator of the customer will get a request and will arrange for an offer that is to be placed in the DENT exchange.
  3. Then, just like the user-to-user case, the offer will get matched with a bid and the order will be fulfilled.
  4. The exchange will then again coordinate the activation of the acquired package.

DENT Exchange Initial Data Offering (IDO) for telcos

  1. The instrument that has been traded in the DENT exchange will enter the market through an initial data offering.
  2. Wholesalers and operators of mobile data packages will define these instruments and offer them to a group of traders available in the DENT exchange.
  3. The size of the initial offering will be set by the mobile data package provider and DENT mobile.
  4. The DENT mobile will handle the initial data offerings and will also act s a virtual operator that will provide depth to the market with their own data package offerings.
  5. Any proceeds or the eventual profit from the virtual provider business will then be the revenue for DENT Wireless.

 

#3 - How to buy and store DENT?

How to buy DENT

The DENT coin is listed for trading on various trading exchanges globally and is paired with a few major cryptocurrencies like BTC, ETH, BNB, KRW, and USDT. This allows DENT users to access or obtain the DENT token by using their crypto holdings, bypassing the need for more KYC norms.

The entire list of trading exchanges for the DENT cryptocurrency includes major global exchanges such as Binance, KuCoin, OKEx, and more.

  1. While cryptocurrency exchanges provide you a platform to buy or sell the DENT cryptocurrency, CoinSwitch, the largest cryptocurrency exchange platform, helps you make the right decision by providing the prices for DENT on multiple crypto exchanges. It supports more than 140 coins and 45,000 pairs of cryptocurrencies. You can choose whichever pair you want with your token and compare the prices at exchanges. This way you can choose the best deal for you!
  2. With a digital cryptocurrency exchange platform like CoinSwitch, you do not rely on a separate wallet from the exchange to store your DENT cryptocurrency. Instead, all transactions happen to and from your own personal private wallets.

DENT Storage

After obtaining the DENT token, one requires a DENT wallet to store it safely. There are few storage options available:

  1. The Ledger Nano S is, of course, the hardware wallet based on robust safety features for secured digital payments and to store cryptographic assets. It can be connected to any computer through USB. It has a secure OLED display for checking and confirming every transaction you make with one tap on the side buttons.
  2. MyEtherWallet is an open source ERC20 wallet that is based on Javascript. MyEtherWallet can be an ideal DENT wallet that delivers high anonymity and an easy-to-use interface.
  3. Metamask has a simple interface and is an Ethereum browser wallet. It has a centralized validation system. It does not require any login because the private keys get stored on Chrome and not on a private server. The private key is protected with a password.

 

#4 - What is the future of DENT token?

DENT Global Acceptance

The Market Cap ranking of the DENT cryptocurrency is 202 as of July 2018, and it holds a market capitalization of $34.2 million USD as of the same time. A total number of

100,000,000,000 DENT coins are in circulation.

Also Read: Complete Analysis of Dent | Live Dent (DENT) Price Charts And Predictions

Price History

Date

Open

High

Low

Close

Volume

Market Cap

1 July, 2018

0.003754

0.003869

0.003537

0.003680

889,422

39,846,200

1 May, 2018

0.010669

0.010669

0.009951

0.010181

2,697,620

113,246,000

1 March, 2018

0.024322

0.025025

0.023383

0.024274

2,129,670

258,172,000

1 January, 2018

0.019585

0.019881

0.018232

0.018232

5,310,690

207,893,000

1 November 2017

0.000386

0.000408

0.000312

0.000345

7,782

4,102,090

Future Prospects

  1. If mobile data packages are comparatively cheaper to purchase from DENT exchange rather than from the current market, or the packages become much more attractive due to the f.e.x being able to sell excess amount of data, users will need to purchase the DENT token in order to buy these data packages. The amount of DENT that is available will increase which might cause the DENT value to the increase due to an increase in the demand.
  2. As DENT is a token involved in the mobile data space, the rates of appreciation may follow the size of the market of mobile data traded in DENT exchange.
  3. According to GSMA, the mobile data market size is predicted to increase. Hence, the larger market traded in DENT can lead to the increase of DENT price.
  4. Till now, DENT is slowly progressing but is also steady.
  5. It has established mobile connectivity with Brazil and India, that drew 40 million users to the platform. This was a small step but had bought a larger market cap to the coin, bringing more DENT token in circulation and slowly raising the price per unit.

 

#5 - How is DENT different from other cryptocurrencies?

  1. DENT offerd a platform to the users to generate profits through their mobile data packages. DENT also lets you use your remaining data to donate it to someone who needs it before it expires.
  2. DENT has its own DENT exchange that allows the users to buy, sell, or donate the mobile data pack ensuring safety on the platform.
  3. DENT allows the automated buying of data packs for the consumers and IoT devices.

 

#6 - Should you invest in DENT?

  1. With the DENT token, users can buy, donate, or sell the data on the international marketplace. DENT token is one of the cheapest altcoins (in terms of absolute price) in the market that also holds a huge circulating volume of 70bn tokens.
  2. The token removes data roaming cost drivers like expensive routings between telcos.
  3. For it to succeed though, the cost of mobile data on the DENT exchange has to be cheaper than the ones offered by the telcos for the same package. For example, if a telco offers a package of 4GB for $40 a month, then the price offered by DENT for the same package should be cheaper, else people can simply purchase the plans from telcos and sell it on DENT for making instant profits.
  4. DENT hasn’t made it to the top 100 cryptocurrencies based on market cap yet. The coin somehow seems to be overlooked due to other major digital currencies hogging the limelight.
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