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Disclaimer: Cryptomover is not a licensed financial advisor. The information presented in this piece is an opinion, and is not purported to be fact. Cryptocurrency is a volatile virtual commodity and can move quickly in any direction. Cryptomover is not responsible for any loss incurred by following this advice.


92. DeepOnion (Published: 23rd Feb, 2018)

DeepOnion is a hybrid cryptocurrency that implements proof of stake (PoS) and the x13 proof of work (PoW) algorithm. DeepOnion implements the TOR(The Onion Router) protocol and is natively integrated within the TOR network, ensuring that all peer-to-peer connections are secure and anonymous. DeepOnion promotes privacy and anonymity for cryptocurrency users by reducing the likelihood of identification by legal and illegal entities through the incorporation of industry-leading cryptography and anonymity-centric networking protocols. DeepOnion will implement innovate blockchaintechnologies, such as DeepSend (a hidden payment technology), to obfuscate transactions, making it impossible to trace coin movement throughout the DeepOnion network. This provides a secure, anonymous platform in which users can transfer their wealth, free from observation and scrutiny by the authorities and malicious attackers.

In July 2017, DeepOnion was formally launched. Meanwhile, signature campaign and first airdrop started, planning that 12.5 million ONIONs will be distributed freely in about 40 airdrops/ distributions. Paper wallet and brain wallet were released in Q3 2017. The team is composed of 4 professionals specialising in software development, SEM marketingbig-data, cloud computing, branding, marketing, and blockchain technology. These core team members are anonymous.

There are some advanced features in DeepOnion. It introduces DeepVault. It is an information store that is held within the blockchain meaning that the data is immutable. DeepVault allows Onion members to store file validation credentials (hashes of files) within the blockchain. It allows users to verify a file’s integrity over time. Therefore, if the hash of the file changes, then the file has been altered or corrupted.

This tool will be invaluable in checking whether the important documents are secure and have not been tampered with. Legal documents are an obvious use for this feature as it would enable a person to verify that the document, and thus content, has not been altered either maliciously, erroneously or through file corruption.

Furthermore, it introduces DeepSend and VoteCentral. DeepSend will allow users to send and receive untraceable payments. DeepSend will use a multi-signature method to hide the transaction trace. They are adopting a tried and tested technology that is trusted by existing users. They will leverage this service and develop an enhanced version of it providing further anonymity, speed, and trust. With VoteCentral, the community can define new features and the direction of DeepOnion.

Future Development
In Q1 2018, there will be the launch of DeepOnion Vote Central, allowing onion holders to vote for new developments and bring up own ideas for future implementations. There will also be a launch of mobile device wallets (iOS, Android) at the same time.

In Q2 2018, free airdrop/ distribution will complete, all 12.5 million coins will be freely distributed. DeepOnion can now be traded in CryptopiaKucoinStocks.Exchange and Trade Satoshi. There will be more exchanges tradeable for ONIONs and more shopping sites accepting ONIONs. There will be a launch of DeepSend, the next level in blockchain anonymity in crypto world, as well.

DeepOnion is a unique cryptocurrency. As it is using the TOR, user’s IP address is never exposed on the network. It has a lot to offer in terms of security and anonymity. It may take the security industry by storm. It may be a good investment, we can keep following the updates of DeepOnion.

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