The world of cryptocurrencies is advancing by leaps and bounds, so big that today we can find a large number of varieties of digital currencies such as Dentacoin. That's right, from the most conventional like Bitcoin, digital gold, to the most innovative.
And it is precisely about Dentacoin that we are going to talk, since this cryptocurrency has the peculiarity that this coin has a dental approach. That's right, you imagine being able to pay the dentist, as well as manage your medical history with a cryptocurrency. That is why you should know more about this virtual currency.
▶ What is Dentacoin?
This cryptocurrency and platform have a construction made on a chain of blocks or Blockchain. Its design is exclusively focused on the dental world, with a patient-centered vision and ethics. This makes it completely different from any other type of currency.
Behind this platform is a clear purpose, to make dental care around the world much more affordable by improving through a concept known as the power of the crowd. The use of Dentacoin is found in that this cryptocurrency is used to provide preventive medicine with low costs.
According to its founder, Dimitar Dimitrakiev, Dentacoin would help make the cost of both preventive and palliative treatments much lower. Like other cryptocurrencies, Dentacoin is based on the Ethereum blockchain using a type of technology called ERC 20.
Despite having an innovative design, many might think that this cryptocurrency has not been successful. This is totally the opposite, since we can find more than 4 thousand registered dentists so far. In addition, several really attractive functionalities and tools have been developed thus increasing the use of Dentacoin.
▶ Differences between Dentacoin and Bitcoin?
While there is a clear difference in how Dentacoin and Bitcoin work, as well as the market it is aimed at, there are many more differences that we must delve into. Here we will tell you what are the 5 main differences between Dentacoin and Bitcoin so that you get to know this cryptocurrency better.
- Use in real life: Unlike other cryptocurrencies which are used as an investment or exchange, but not as a payment method, this cryptocurrency does have real applications. And there are dental offices in cities like London that accept Dentacoin as a payment method.
- Concept: Another point that you must take into account is the concept behind this cryptocurrency. Coins such as Bitcoin or Ethereum have a concept focused, for example, on the world of currencies while the Dentacoin has a focus on health, in this case dental.
- It is not only a coin: Dentacoin was not created only as a virtual currency to pay for dental treatments, its purpose is to go further. And is that Dentacoin has a platform built for the management and relationship between doctors, patients, providers and other participants in dental health.
- Medical insurance: According to the creator and developers, it is likely that we will soon see the launch of dental care insurance. This insurance promoted in DCN will have the special characteristic of being based on smart contracts, as well as a decentralized database through Blockchain.
- Mined: Finally, you should know that Dentacoin is a currency that cannot be mined, that is, We cannot earn Dentacoin by being a participant in the Blockchain process. This is because the maximum available Dentacoin has already been created, which is equivalent to 2 trillion DCN.
▶ Technology behind
The first thing you should know is that Dentacoin was born under the technology of Blockchain or chain of blocks. This allowed him to give it a cryptocurrency approach by operating under the rules of the same. For this, the Ethereum Blockchain was used as a base, which is one of the best, safest, most efficient and optimized cryptocurrencies.
In addition to working through Blockchain technology, it also An ERC-20 Token was implemented in order to improve the operation of the DCN. If that is not enough, you should also know that the concept of smart contracts was taken advantage of.
Although the technology is striking, the most special thing about Dentacoin is the way in which the platform has been developed. Here we have a mobile application called Dentacare to help children take care of their dental health. We have a currency designed to make paying for dental treatments easier.
We also found a platform designed for patients to share their opinions and reviews about dental treatments from dentists who are part of the network. In addition, we have a platform that helps conduct market research to help physicians and providers gain valuable information.
Despite being based on Blockchain, Dentacoin follows a different operation than other types of cryptocurrencies. And is that this it does not allow mining of them so you cannot set up your mine and obtain them. This is one of its big differences versus other cryptocurrencies.
Dentacoin was pre-mined before being launched on the market through an ICO, which limited the number of Dentacoin to those that were created in that process. Little by little, and over time, the coins already created will be released to the market under efficient control.
Where can I store my cryptocurrencies?
The first thing you should know is that Dentacoin has an Inhouse Wallet or electronic purse to store your cryptocurrencies. This makes it much easier to save or use your coins thanks to the fact that, being Inhouse, compatibility problems are avoided.
On the other hand, we can find that Dentacoin has Ethereum technology which makes it can be used with any Wallet. That's right, the Wallet does not matter as long as it is multi-currency you can use it to save your cryptocurrencies. All this makes the use much simpler and more comfortable.