Introduction to DeepOnion (ONION)

DeepOnion is a privacy coin that was launched in July 2017 with numerous airdrops, which allowed the currency to become known. They have a team of 4 anonymous people working in the project that aims to solve the existing issues around online privacy.

The DeepOnion network is an anonymous platform where wealth can be transferred privately, away from the eyes of authorities and hackers.

DeepOnion acknowledges the right each one has to make transactions away from the eyes of the government or any other third party, and for that establishes partnerships with other privacy services, namely Bisq P2P DEX, as well as online marketplaces.

DeepOnion uses both Proof of Stake (PoS) and Proof of Work (Pow) algorithms. The combination of PoW and PoS mining makes DeepOnion mining 10 times superior to the one of Ethereum, for example.

A native integration with the TOR network, which ensures security and anonymity of the peer-to-peer connections, is the base of DeepOnion, being the TOR router, therefore, the one encrypting the traffic and making the transactions anonymous. To solve the problem of countries that block the access to TOR browser, ONION released protocols to bypass this issue.

Other relevant ONION features are the Deep Vault (a way to verify documents in the network), zero-knowledge technology (makes transactions easier), and DeepSend (operating like a multi signature system – makes tracing coin movements impossible in the ONION network).

As a new coin, development for other features are still being made, namely VoteCentral, a community to vote for development decisions, similarly to what happens with Dash.

DeepOnion has strong technology behind their project, namely the TOR encryption that hides the user IPs, but they are also in one area that has the most competition, as numerous privacy coins exist: Monero, PIVX, Dash, ZCash, and Verge among others.

Monero and PIVX are two of the most well-known privacy coins, but they don’t get to the level of anonymity and un-traceability DeepOnion promises to deliver though. Consistent to their privacy policy, DeepOnion founders are unknown, which is a concern for the project, given the lack of solid known background in their team.

This is a brief introduction to ONION, but if you want to know more about the coin, what people are saying about it, technical details, jump right in any of the links we present below. They are well worth reading before investing!