The entire internet is hosted on servers around the world and the data providers help in providing a connection to the internet. These internet providers use the bandwidth of other network providers which charge a fee for them. A blockchain startup called Dent is now attempting to challenge this structure in its own possible way. So, let’s understand how Dent is changing the world even as we speak!
So What is Dent?
The Dent network is a blockchain-based startup that aims to decentralise the hegemony of telecommunication giants. The platform believes that the future of telecommunication is going to be global, decentralised, and distributed. The Dent network provides a high level of security due to its underlying blockchain technology.
The story of the Dent network started in 2014 when Tero Katajainen developed an automated foreign exchange market system. The automated system allowed users to hedge their risks in the foreign exchange market. Soon after, the Dent platform expanded to build a Dent marketplace that allows its users to tokenise telecom assets (like data packages, voice minutes, SMS packages, data boosters, etc).
Three years later, the Dent network moved on to build its own products and services in order to become the first truly global and digital operator. The platform aims to provide worldwide access to mobile data without using SIM cards.
How does Dent work?
The Dent network aims to replace the current centralised structures with decentralised ones. In order to break tech monopolies, the platform has developed the DENTNet blockchain. This blockchain aims to host the current telecommunications infrastructure like cell towers, databases, and billing gateways on it. Additionally, since the technology supporting telecommunication keeps on improving constantly (for example from 2G to 3G to 4G/LTE to 5G and so on), the computing capabilities and processing power can be improved via DENTNet blockchain cloud instead of central data centers.
The network aims to start moving the normal components of telcos into DENTNet nodes. These nodes will represent things like customer databases, billing and radio management, etc. Furthermore, the blockchain will also be interoperable with other blockchains. The network also has an eSIM that can be used anywhere in the world. There are no roaming charges as well. The platform also allows its users to share data on multiple devices using DENT Teams. Additionally, the network provides its users a platform to resell data packages by setting up eSIM sales channels by using DENT Gigastore. Dent also has its own swap platform called the DENT Swap which can be used to swap DENT token with other cryptos. Not just that, you can earn money by contributing to the liquidity pools.
The DENT token: a snapshot
The DENT token is the native token of the DENT network. It is the central part of the DENTNet blockchain ecosystem. On the network you can use the DENT token for payments of services, buying of products as a reward as well as unlocking various features. You also have the chance to get a DENT token as and when you sign up for their services. It also allows users to freely purchase, sell, or even donate their mobile data to any other device. The DENT token is the currency used on the DENT Exchange that serves as a horizontal marketplace for mobile data trading.
To conclude, you can use the DENT token to buy data packages, voice call packages, SMS packages, etc. Moreover, you can also swap the currency on the DENT Swap.