Dent (DENT) – All you need to know

What is Dent?

Dent is an exchange where people come together to trade mobile data packages. On Dent, mobile data is treated like a commodity, and it matches people who need extra with those who have spare data to sell. The DENT coin is the cryptocurrency that powers the platform and the means of payment for all these trades.

Dent was formed in Hong Kong in 2014 as a competitor to traditional mobile telecoms companies. Where they are restrictive, with fixed packages and high roaming charges, Dent is flexible by getting rid of the centralisation so consumers can have more control over their mobile data.

How does Dent work?

Dent works by turning packages of mobile data into ‘tokens’. This is a way of turning them into a crypto asset, and has been done to trade stocks on decentralised exchanges as well. These tokenised packages are then traded, with all transactions stored on Dent’s own publicly viewable blockchain.

Dent makes its money on each transaction, as well as by earning a commission on ‘initial data offerings’. These are a way for telecoms companies to sell off a batch of data packages all at once, like a company would with cryptocurrency coins or their shares in an IPO. So while Dent offers an alternative to traditional telecoms, it also offers an entry point for those companies to join in with decentralisation as well.

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