“The DeepOnion network is an anonymous platform where wealth can be transferred privately, away from the eyes of both authorities and hackers…”
Coin Name: DeepOnion
Birth of project: 2017
Project Status: –
Circulating Supply: 12,719,528 ONION
Validation: POS & POW
Official website: https://deeponion.org
Official Wallet: https://deeponion.org/#download
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.
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!
Feb 19, 2018: $4.24
Jan 19, 2018: $10.24
Dec 19, 2017: $3.85
Nov 19, 2017: $0.855629
Deep Onion is a unique name for a crypto. I’,m not sure if this will pull the crowd or keep them away. I’m not sure I would buy into a crypto called deep onion. Cryptos by definition are anonymous, so nothing special here. However the Deep send technology sounds interesting. This could potentially distinguish this crypto from the others. A problem many people are starting to have. They are so many coins available its getting hard to tell the diffrence.
Cryptos are not anonymous by definition @jaymish, and that is why we even have a category for privacy coins, precisely to make it clear that they are private, like Onion.
As for the name, I think they are just trying to associate it with their different security layers? 🙂