Dentacoin Full Coin Guide
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Dentacoin (DCN) is a blockchain fashioned for the dental industry. Many organizations have started experimenting with blockchain in an effort to make administration efficient. While any decentralized ledger can streamline dental services, Dentacoin beats them all as it’s customized for this field only.
DCN is not a one-man project. Rather, it’s a product that was put together by a team consisting of engineers, dentists, programmers, marketers and other fintech experts. The members come from the UK, US, India, South Africa, Germany, Russia, Germany, Netherlands, and Bulgaria. Collectively, these individuals form the Dentacoin Foundation.
The groundwork for DCN coin started in 2014, but the foundation came into existence in 2017. The project was put through a trial analysis from March and ended in May the same year. Since its inception, Dentacoin blockchain has become a reliable tool not just for organizing and sharing dental records but a contractual system as well.
What is Dentacoin and how does it work?
Like most blockchains, Dentacoin is more of a ledger for storing dental records securely. As a decentralized tool, there is a lot of transparency, and it allows most patients and doctors from around the world to interact.
This digital ledger works through smart contracts. A smart contract is a computer protocol that facilitates, verifies, negotiates and concludes the contract. Like ordinary contracts, conditions must be met before the dentacoins are issued to the Receiver. If all the requirements are not met, the contract will end itself, and the amount in escrow returned to the rightful owner.
Dentacoin blockchain was created through combined efforts of around 120 individuals. The core team members are Dr. Dimitar Dimitrakiev, Philipp Grenzebach, Sergey Ushakov, Jeremias Grenzebach, Alexander Atanasov and Daniel Kolarov.
Dentacoin main features
Like most blockchains, Dentacoin too bears unique features that make it appealing to those who deal with dental services. Here is a dropdown list of the top qualities this blockchain bares:
Any blockchain at its core is simply a digital ledger that provides storage space for new transactions. DCN keeps the records of all patients that have attended a particular clinic and what problem they were treated for. Individuals and doctors can share their records with third parties through private keys.
This digital ledger comes with foolproof security and is known to be transparent. Once a record has been registered and assigned a block, there is no re-editing- this usually guarantees that there will be no future tampering.
Trusted review platform
Dentacoin ecosystem revolves around reviews. Basically, anyone in need of the best dental services can visit Dentacoin’s blockchain based review platform and peruse through some of the feedback from users until they come across the service they like.
Dentists too will use the platform to identify and fix some of the complaints customers raise towards them. Quite contrary to conventional platforms, this one rewards users with some Dentacoins for leaving honest feedback.
How trusted reviews work? There are two types of reviews submitted; standard and trusted. Anyone is free to post reviews, but the trusted ones come from actual dental patients.
Once you check with a dentist and get treated, you will receive an email later on to review his services. The link ensures you review the exact dentist and not someone else. The more you post feedback, the more Dentacoin crypto you get.
One of the biggest challenges facing dentistry is lack of affordable dental premiums. Dentacoin Foundation intends to make teeth services accessible to many people around the globe through blockchain-based insurance. In this network, the patient’s well-being becomes a shared responsibility between them and dentist. Put simply, the interests of the patient and dentist will be aligned.
Aftercare Mobile App
Aftercare treatment is vital to healthy healing. Through a mobile app, Dentacoin blockchain will help dentists provide their patients with further care while away from the treatment facility. The app is merely a way to enforce long-lasting good teeth practices in both kids and adults.
Dentacoin’s website focuses on imparting its users with knowledge on best dental habits. Knowledge is transmitted through reading articles, answering questionnaires and playing games.
The Bitcoin of the dental industry?
Dentacoinis selling itself as the Bitcoin of the dental industry because it’s one of the few blockchain projects geared towards this niche. Its mission is to make dental care accessible to almost 80% of all people.
The blockchain will remove power from the hands of middlemen- usually insurance companies. This will be achieved through self-executing smart contracts with the theme of peer-to-peer transactions. This will help patients cut down on their costs. The blockchain will also engage participants and promote healthy teeth habits through the incentivized Dentavox programme.
Does the dental industry really need to be tokenized? Absolutely. The dental care industry is estimated to be worth more than $400 billion. This means if Dentacoin is adopted by many people in this niche, it could become as valuable as Bitcoin itself.
The Dentacoin team
One of the determinants of a robust blockchain or cryptocurrency is the presence of knowledgeable individuals behind it. Indeed, Dentacoin is a brainchild of many geniuses. Here are some of the core team members and their credentials.
Dimitar is Dentacoin’s founder and an accomplished university lecturer. His knowledge of the financial markets spans over two decades. He is a lover of science and engineering, and this has earned him a sit at established research bodies like EADM, Union of Automation and Informatics, and IEEE computational society.
Philipp is a law, business management, and economics graduate. As a co-founder, he deals with all the business side of things on the blockchain. His dream is to see more decentralized markets replace conventional centrally placed systems.
Jeremias is an adept blockchain developer with experience spanning over 8 years. He has had a hand in other famous blockchains like Ethereum, Status, ZCash, Waves, uPort, iMToken, and Byteball. His exceptional coding skills earned him a spot as Dentacoin’s chief coder.
This blockchain’s roadmap kicked off in the year 2017 with the release of its token. Some of the milestones that have already been achieved (as at the time of writing) include the formation of the foundation and launching of the review platform. Pending projects include:
- DentaVox– this is a customer intelligence tool also known as a market hub which uses questions to get feedback from clients. The tool will contain about 100 questions, and there will be incentives(in DCN tokens) in accordance with the time one spends answering the questions.
- Mobile app release-Dentacare mobile app is one of the “work in progress” projects that the foundation is working on at the moment. The android app will teach People about the best dental practices to adopt.
Dentacoin blockchain is run through a DCN token. This token provides a means to incentivize people to take part in the network. Anyone who owns several of this coin can be said to own a share of the Dentacoin Foundation.
This blockchain’s token can be exchanged for medical services or ‘HODLed’ (held) onto as an investment. Unlike Bitcoin and other cryptocurrencies, Dentacoin is not minable. There is a maximum of 8 trillion DCNs with roughly 325 billion in circulation.
The foundation aims at distributing 76.1% of its tokens in smaller proportions from 2018 to 2042. The tokens will be dispatched in “Timelock” contracts where the founders will get 5%, 2.4% will go to the core founders, and a bigger chunk will go to the public. More info on the token distribution can be found on their Github page.
Dentacoin price growth
Unlike most top picks, Dentacoin’s trading history is not an exciting one. Sure the coin has made some milestones in price but never went above the dollar. All these could be attributed to the fact that the currency is still young and most people don’t know about it.
When the coin was released for the first time, it was trading at merely a few cents and rose to an all-time high of $0.006 on 8th January before slumping to around $0.00035. Dentavox and Dentacare mobile app are some of the pending projects most followers are looking forward to.
How to buy Dentacoin?
Dentacoinis still gaining traction as one of the upcoming cryptocurrencies, and hence, it’s not possible to purchase it directly with fiat money. The easiest way to get it is by buying Bitcoin, Ethereum or any other common cryptocurrency first and then exchange it for Dentacoin.
The steps below will help you buy DCN coin:
Step 1: Buy some BTC
Register with a cryptocurrency exchange site (we will take Coinbase in our case)
Coinbase >> is one of the best exchanges for obtaining any cryptocurrency for novice investors or traders. So many users admit that the buying or selling procedures are simple for anyone to grasp. Additionally, the company is fully regulated by the United States government thus reputable.
At Coinbase, you have the chance to buy Bitcoin, Ethereum, Ripple or Litecoin using a debit card, credit card or through bank wire. Note that the company will need you to go through several identification steps during the sign-up process.
Once you have an account, head over to the “buy/sell” tab at the top of the page then select “Bitcoin.” You will be directed to the payment method. Choose the method you prefer and key in the number of Bitcoins you want to purchase.
From there, you can move your Bitcoins to the exchange you wish to buy Dentacoin from below. Swap your BTCs for DCN and store in a Dentacoin wallet.
Step 2: Get a Dentacoin wallet
DCN is an ERC20 token, and that means it can be securely stored in several Ethereum wallets. Options that normally pop at the top of any list include Coinomi, imToken, Jaxx, Metamask, Myetherwallet, Ledger or Trezor hardware wallets.
Myetherwalletis basically a token wallet generator used to store almost any cryptocurrency including DCN. Its security features, open-source nature and the ability to support both Nano and Trezor hardware wallets makes it one of the few go-to cryptocurrency wallets.
The wallet is of hot type, and that means you need to be connected to the internet to use it. Users are allowed to choose a security method they like to keep their private keys away from unscrupulous people.
Nano S is a reputable hardware wallet and the first choice for traders who wish to keep their private keys offline. It’s also regarded as one of the cheapest cold storage solutions. The wallet stores Bitcoin, Litecoin, Dash and a bevy of other cryptocurrencies. The wallet is able to store Dentacoin token through its interaction with the myetherwallet.
Trezor is also a hardware wallet with exceptional security features that include the use of passwords and seed keys. Being a pioneer of hardware wallets, it was majorly fashioned for Bitcoin users but currently supports several other common altcoins.
Trezor is slim like a key and is connected to a pc via a USB cable. The screen is LED-enabled to make it easier to operate it in dark conditions. Like Nano S, Trezor too can interact with Myetherwallet, and that makes it possible for Dentacoin users to store their keys in it.
Step 3: Exchange the BTC to Dentacoin
As a top 100 contender, Dentacoin cryptocurrency has found its way into the lists of the top exchanges. Here are a few Dentacoin exchanges:
Dentacoin pairs: DCN/ETH, DCN/LTC, DCN/DOGE
Cryptopia is a New Zealand based exchange that allows traders to buy or sell hundreds of cryptocurrencies. Unlike Coinbase, very minimal verification details are requested during account opening. With over 500 coins listed, the exchange is the perfect place to buy Dentacoin with any other crypto coin.
Dentacoin pairs: DCN/ETH, DCN/BTC
Mercatox is a peer-to-peer exchange platform based in the UK. The exchange has over 100 cryptocurrencies and many coin pairings. For those with challenges in obtaining a wallet, the site provides an e-wallet for keeping as many crypto coins as you can afford.
This exchange offers many rare currencies, but deposits are normally made in major cryptos like Bitcoin, Dash, Ethereum, Litecoin, and Doge. Common electronic payments supported are Yandex Money, QIWI, Perfect Money, OKPAY, and Payeer.
Dentacoin pairs: DCN/ETH, DCN/BTC, DCN/USDT
HitBTC is a registered exchange based in the UK. It offers a wide variety of fiat currency as well as crypto to crypto pairings. Thanks to the 2-factor authentication and other security measures, the site has an untainted track record.
This exchange is widely cherished for two major reasons; high liquidity, and low fees. Since you can’t purchase Dentacoin directly from this site using fiat, you need to buy BTC or any other common coin then swap it for DCNs.
DCN can be bought on EtherDelta as well.
In a Nutshell
Dentacoin is the only cryptocurrency that aims to revolutionize dental care services. Patients can pay for teeth treatment in DCN coin and can receive it from dentists after leaving good feedback about their services. Although cryptocurrencies are still finding their place in our societies, this coin can perform well not because of low competition from similar ventures but due to the dynamic services it offers.
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