July 12, 2017
DescriptionDeepOnion is an anonymous blockchain closely integrated with The Onion Router network, which is a free software that allows anonymous communications for its users. TOR increases the amount of privacy for cryptocurrency users and reduces the possibilities of being attacked or hacked by other illegal or legal entities. With the help of DeepOnion, you can easily receive and send ONIONs (the cryptocurrency of the DeepOnion blockchain) over the TOR network. The blockchain ensures anonymity and can also be used to receive or send personal transactions with the help if Deepcoin wallet. DeepOnion has just one major goal, that is, to protect the privacy and identity of the users by making a payment platform that is secure, scalable, instantaneous, untraceable, and anonymous. The DeepOnion coin was launched in July 2017. Its 40 rounds of airdrops, where the coins were distributed for free, helped the currency to get recognized in the market. DeepOnion has also established its partnerships with multiple privacy services such as Bisq P2P DEX, and with other online marketplaces. The blockchain uses both, Proof of Stake and Proof of Work algorithms. The TOR network powering DeepOnion ensures anonymity and security of peer-to-peer connections. There are few countries which have blocked the access to TOR browser. In order to solve this, DeepOnion had released protocols for bypassing the issue. The Onion Routing (TOR) is a technology that is used to ensure anonymity over the internet. The messages on the ONION network are encapsulated in multiple layers of encryption, just like the layers of an onion. This encrypted data is further sent through a series of network nodes which are known as onion routers. Each of this peels away a single layer that uncovers the next destination of the data. Stealth addresses help to prevent public connection of an output of the transaction with a recipient’s wallet address. They also conceal the destination address of a transaction, thereby hiding the identity of the receiver on the network of the DeepOnion cryptocurrency. One reason that can contribute in the rise of ONION is that the coin provides 100% anonymity with TOR technology. It keeps funds of its users safe from government and hackers. The private transactions, which has also been the backlog of various other cryptocurrencies has been fulfilled by DeepOnion. Another reason that will help ONION rise is because it requires less time for making or receiving payments. Even though ONION has outstanding as well as unique features, it still has a global ranking beyond 300, which means that it still has a long way to make to the list of top cryptocurrencies. The coin is still being overlooked due to other major digital currencies.