ADSactly - Spotlight on Cryptocoins -- DeepOnion/Onion -- 5th feature "private" coins

in crypto •  7 years ago 

ADSactly - Spotlight on Cryptocoins -- DeepOnion/Onion -- 5th feature "private" coins

Hello Steemians

In this series of articles I want to put a spotlight on a specific cryptocurrency and write about the details in all these aspects:

  • Aim of the currency

  • Technical details

  • Market position

  • Forecast

The cryptocurrency in focus currently will be one of the so-called "private" coins. Coins that create the possibility to be more or less in private while doing transactions. How private you are is one of the main questions to be answered in this articles.

In this 5th article of the series, the spotlight will be on DeepOnion.




PictureSource

Aim of the Currency

What is this currency about? What does it do differently than the rest?
Where is the unique selling point and at what audience is this coin targeted.

All that questions and more will be answered in the following paragraph.

DeepOnion is a quite recent cryptocoin, dating back only to July 6, 2017 when the official announcement was done on Bitcointalk. DeepOnion has the focus on the privacy of the user, the name already is making a clear statement that this is connected to the TOR network, for increased privacy and obfuscation of all IP addresses. Therefore the location of the sender and receiver are kept a secret within DeepOnion.
In the next step, on the roadmap for Q4 2017, the DeepSend algorithm will be introduced, making it possible to also hide the address of the sender and receiver, this will be done by using a mixer and guarantor approach.

Technical Details

The standard wallet for DeepOnion(available for Linux, Mac, and Windows) already features the connection to the TOR network and should work out of the box. This coin is still under heavy development so the DeepSend module, making it able to also hide the addresses of sender and receiver is not yet implemented.
Other important services like DeepVault, a place where you can store hashes of files in an immutable way, making it possible to always see if a file has been altered or tampered with, are already up and running.
You can see the most recent roadmap of DeepOnion here

Distribution details of DeepOnion are quite special since 90% of the coin has already been premined with the genesis block. Additional 2 million coins are available for mining using the X13 algorithm.

From the 90% premine, 70% is used in Airdrops, the rules to apply for this can be seen here, 20% is used for creating bounties and the last 10% is for the development team.

This coin is also using POS (Proof of Stake) with the following interest rates:

  • 1st year: 10%
  • 2nd year: 5%
  • 3rd and subsequent years: 1%

Market Position

At the time of writing this article (12/21/2017) DeepOnion is placed 307th in market capitalization, with the total value of 16.547.064 $. The 24h Volume was $259.470 which is a average number compared to the last month.

The DeepOnion Marketing team is very active, having launched campaigns on all major social media platforms as well as twitter.
Looking back one month into the past, we see that the price is now almost 4 times what it was end of November. 3.6$ today versus 0.89$ on Nov,21 .


GraphSource


If we are taking a look at the lifetime graph of DeepOnion, we can see directly that the ATH (4.89$ on August 29) is still a bit away and that from this point in time a price drop to 47 cents on Nov 12 started. Since then DeepOnion has started a great comeback to the point in which we are today.


GraphSource

Forecast

Just like all the other private coins DeepOnion for sure has a valid point in trying to keep the privacy of the sender and receiver.
The unusual distribution strategy is for sure a clever way to get more people attracted, earning DeepOnions with blogging or collecting bounties is for sure a valid offer from the development team.
Currently, DeepOnion is doing great in regaining old strength, if the development can deliver the DeepSend module soon prices should rise significantly.

Conclusion

DeepOnion enables you in the current release to obfuscate your IP making it untrackable where the transactions origin is. This is achieved by integrating the TOR network. The DeepSend module will then also allow masking sender and receiver within the blockchain.
DeepOnion is developed by a small team of experts, the code is completely open source.

Last but not least there are also some drawbacks and they should not be unmentioned:

  • PoW Coin, mining can be seen as a waste of energy.

  • Distribution method with such a high premine can also be seen as a possible scam.

  • Privacy of transaction has been also viewed with criticism.

Authored by: @jedigeiss






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Yeah, great info. I never thought Onions are deep.

Well if the only unique selling point of this crypto currency is anonymous IP addresses , that might not be enough to woo investors into I investing in it over other crypto currencies generally not to talk of private coins .

By the way it is possible to conduct bitcoin transactions with anonymous IP by simply using a VPN service when transacting. This is one example.

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great info enjoy your post thanks for share.

Thanks for the great info you pass across to us,,and enjoy a lot in your post we really appreciate it for sharing this to us..

Yo ,
Thanks for the great content

Helpful post.

Informative post. Nicely compiled details.

Great informative post dear @adsactly
Thank you for taking the time.
I like your blog.

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A wonderful message! Thank you so much for the number of points for help.Thanks to the information you gave me to do a good research today..

When it comes to privacy-centered coin, only two platforms come to mind: Verge and Tokenpay.

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Ho Ho Ho HoMerry Christmas

Lol

good post.

Cool that gives more info about crypto Onion..
But is this transaction address and it's values is not even tracked by onion also ??

Good work, keep on bringing us this kind of important info!

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Thank you for informing us about the currency. I also want to read about crypto currency.

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on which market they listed @adsactly? I didnt find a market where it is aviable

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Sitede bu mesajları atarak bizleri aydınlatan kardeşlerinize tşk ederiz

wonderful

Great write up .How and where do you earn deep onion coin?

So much hype behind that DeepOnion coin.

This one is considered as the Onion killer.

Thank youfor this info .... it saved me from making a bad investment

Useful article

I like the sounds of an airdrop!

Great work!!! Very informative post and Thank you very much for sharing with Steemit community.

Bitcoin is getting faster and faster. I am doing more research on this subject every day. And this sharing is a general guide to me. Thank you..
@adsactly

wondeful, upvoted...

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Amazing post!! Thank you for taking the time! If you get a chance check my post out at https://steemit.com/cryptocurrency/@seikatsumkt/scam-el-petro-the-new-cryptocurrency-announced-by-the-venezuelan-government
Keep on Touch!

You have put a wonderful night on cryptocoin the article and writing skills is great you have written

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Nice information from a great man. I sincerely love this and your previous posts. No doubt, many steemians has benefitted from your ecperienc. I upvote.

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Good article ! Thanks for the informations :)

Wauhhh......never heard about it but on my way to join as long my privacy is concerned . We sometimes need to keep our transactions private which is one of the most important features of Deeponion.
Great innovation, though more research should be done before investing or being involved in any transaction

This is a great post, I'm very impressed with you.
I want to read first, if there are more recent posts from you.
I already upvote you, and do not forget my followb back ok👍👍

Exhausting but worth reading and very detailed.

Your writing style is so awesome. Thanks for sharing such precious info dear :)

wonderful work! i resteemed! ;)

Good post

Great post we want more :)

What a study you have and what a knowledge you have really a great information you shared which will clear all the thing to the new users
i am agree to with you that the coming year is the year of cryptocurrency :)

this is good.. AThe secrecy to IP address and sender and receiver is a good quality of this cryptocurrency. theif will be having a hard time on hacking accounts.

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Thinking to invest small amount. Request you to explain risk factors also.

Down on $USD
Up on $BTC

This dump has been a huge success!

#bitcoin

Nice post.

yes good @adsactly

Nice one dude !

Congratulations @adsactly, this post is the most rewarded post (based on pending payouts) in the last 12 hours written by a Superhero or Legend account holder (accounts hold greater than 100 Mega Vests). The total number of posts by Superhero and Legend account holders during this period was 46 and the total pending payments to posts in these categories was $4287.71. To see the full list of highest paid posts across all accounts categories, click here.

If you do not wish to receive these messages in future, please reply stop to this comment.

Wow. Very detailed. Thank you for an informative read!
@Crypto Coins Revolution

We all look forward to seeing how deep onion coin will perform amidst other Cryptos.

Great content! Thanks for sharing with us!

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Your support would mean a lot to me. Thank you so much!

Good post I am a new steemian and I hope to be a successful steemian so I can support myself and not depend on my parents when I get to college and even reach my goal which is to become a millionaire before 20. IF you believe I can reach this goal you cann support me by upvoting my posts . I am new here, you guys should make me feel at home. THANKS

I've seen this coin from a youtuber and I'm studying it now. Plan to buy this coin maybe by January:)

Thanks for sharing

Thanks for great content

Good post you.. woooe votes you goot

I really like projects like this and here's why.

You should only invest in and support the currencies you truly believe in; make sure they are honest and properly managed. Find the best one or two you can and get involved if possible.

https://steemit.com/security/@safetony/how-to-make-money-and-get-started-in-crypto-but-you-will-need-to-work-for-it

Great write Up. Thanks for sharing!

Congratulations @adsactly!
Your post was mentioned in the hit parade in the following categories:

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@adsactly Thank you for the update man!

The best part is it has so much depth ❤️

great content

Good content and useful information
Greetings to you
A happy vacation

That's a wonderful informative article on the private coins as a matter of fact I found a new crypto coin site today and by the way if you have some time please check my new article https://steemit.com/fantasy/@devanshu/fantasy-isn-t-a-bad-thing

👍I follow and upvote you. You follow and upvote me👌please !!!! @bestrakibul2

definitely one of the better posts on here! really appreciate the info really interesting coin I'm definitely gonna look into this more. do you cover onion net often?

Thx - I´m always interested in privacy coins, but I don´t believe in coins that rely on TOR.
In the end, this coin (and other privacy coins like Verge) don´t add anything, that BCN can´t already do.

Nice, I love that you do this series. Do you think this will be a direct competitor of Monero? I'm no expert on Monero, so it would be cool to see a comparison of just how private each of the well known private coins (DeepOnion, Monero, ZCash...) are. Nice writeup.

Looks promising

wonderful post..thats a great information..i like it..thanks for sharing..upvot

good article your post