Dether is the world’s first peer-to-peer Ether network powered by Ethereum smart contracts. Find out how the mobile app works today in our review.
What Is Dether?
Dether is a mobile app currently available in alpha. The developers claim to have created the world’s first peer-to-peer ether network. The network is powered by Ethereum smart contracts and available from anywhere you have internet.
Why do we need a platform like Dether? The developers claim that buying and selling Ether is a long and difficult process. Users need to register online, deposit money, verify their information, and then begin to buy or sell Ether.
Dether has come up with a better solution that reduces the use of financial institutions. It lowers barriers to Ethereum adoption worldwide. Using Dether, you can buy and sell Ether anytime, anywhere using cash.
How Does Dether Work?
Dether claims to be the fastest and easiest way to buy Ether for everyone. It gives users the unique opportunity to have access to Ether within minutes using their phone or spending cash.
Basically, you open the app, pull up the Dether map, then chat with local Ether tellers near you. You can chat with these tellers anonymously and then buy Ether safely using your national currency.
As a Dether user, you can also sell Ether and make money. Any Dether user can become a teller and have an accessible way to make money. Effectively, this means you become a mobile ATM. You’re listed on the Dether map and can sell Ether for fiat currency anywhere in the world.
Another way to use Dether is to find local shops that accept Ether. You can view shops on the map and see where Ether is accepted in your local area. Or, add your own business to the Dether map and let shoppers know that you accept Ether.
The overall goal of Dether is simple: to make Ethereum easily accessible to anyone internationally – whether they’re a novice or expert.
Communicate Safely With Buyers And Sellers:
Dether uses a fully encrypted peer-to-peer messaging solution that allows buyers and sellers to anonymously communicate with each other. None of the information is kept by any entity. Buyers and sellers are able to chat directly and trade without a middleman.
No Funds Are Held By Dether:
Sellers are free to transfer Ether to their Dether wallet. When they do so, buyers can see the amount of Ether a seller is willing to sell. Only you have the ability to fund your wallet. It’s a peer-to-peer transfer system that doesn’t rely on a trusted third party (basically, it’s like transferring money between two wallets).
Trusted Buyers And Sellers:
Dether has a reputation and rating system based on smart contracts. When you’re using the Dether app, you can view the rating of each buyer and seller to ensure a trusted transaction. These ratings are based on transactions they’ve successfully completed as well as their total number of transactions.
Dether is a mobile app that allows you to use your phone like a bank.
Interactive Local Map:
Find local buyers, sellers, and shops that accept Ethereum.
The DTR Token:
Dether will introduce the DTR token, an ERC20-compliant token that will be used at the center of the Dether ecosystem. However, it’s not totally clear what the purpose for this token will be. More details will be announced prior to the ICO.
Who’s Behind Dether?
After meeting in Paris, they started building products together. They worked on blockchain proof of concepts for companies on the CAC 40 and helped iExec as contracts. Hamid and Mehdi are French and Algerian citizens who previously worked for international remittance solutions before realizing that a solution like Dether could be applied to the Ethereum community.
Dether has a team of marketing specialists, programmers, and developers supporting the two co-founders.
Dether is a mobile app that aims to harness the power of Ethereum and its active community. Using the Dether app, you can find local merchants that accept Ethereum, or find a local teller that lets you exchange fiat currency for Ethereum. You can also become your own teller, and indicate on the app how much Ethereum you’re willing to trade for fiat currency.
It’s a unique concept that aims to enhance the usability and practicality of Ethereum. You can learn more today at Dether.io.