What is bitcoin and why is it so valuable? Why are so many cryptocurrencies gaining popularity around the world? Will cryptocurrencies replace FIAT in the future? Why are so many world government trying to ban bitcoin and the crypto market? The answer to all these questions is simple. Bitcoin was created with the intention to help people around the world conduct financial transactions online in an anonymous manner without any sort of government interference whatsoever.
How is this possible? Basically, bitcoin and altcoin transactions are completed online without seeking government permission(Includes banks etc) in an #anonymous manner if both parties hold a bitcoin or the relevant altcoin address. These transactions are performed in the blockchain which is done behind the scenes without attracting unnecessary attention. There is no need to carry around physical cash anymore since all financial transactions are completed online which is obviously amazing.
However, there are certain loopholes here which the government and hackers are successfully exploiting to their own advantage. Bitcoin transactions can be traced back to the respective parties through the exchanges where the parties registered their KYC details(This is the norm with crypto exchanges these days). This means that the bitcoin transactions are not completely anonymous. Hackers have successfully hacked crypto exchanges, databases of bitcoin addresses etc and stole millions of dollars. This means that bitcoin addresses can be hacked.
Is there no solution here? Will the world governments always win at the end of the day? Such questions provoked people to come up with alternate anonymous #cryptocurrencies which solve the anonymity problem with bitcoin and provide their own specific set of features to help people conduct financial transactions anonymously. Examples of such coins are #DeepOnion, Monero, Dash, Verge, Spectre, Zcash and many more coins which are far better than bitcoin in the anonymity department. The question now is which among these coins is the best?
Dash coin helps users conduct anonymous transactions by mixing them through masternodes which is far better than the mechanism employed by bitcoin, but the dependency on masternodes could be harmful to users since they could reveal the identity of users if compromised.
Monero also helps users conduct anonymous transactions through complicated mechanisms which are better than the bitcoin mechanisms, but it is possible to identify the origin of a transactions through a coordinated hack attack by hackers. Centralized mining pools also do not help its case here.
Zcash helps users conduct anonymous transactions by providing a secure transport layer for the transactions which is also better than the mechanism employed by bitcoin, but developers are said to have premined a large portion of these coins which means that they can manipulate the market which is a big problem and cannot be ignored.
Verge and DeepOnion help users conduct anonymous transactions primarily due to the integration of TOR network, but DeepOnion provides many more features on top of this while Verge is simply Bitcoin+TOR. This means that it is possible to hack verge transactions.
Spectre coin is another worthy competitor to DeepOnion which was created to provide anonymity to users, but fails in the marketing department in a big way. Also, there are very few developers handling this project which means this coin might fail in the long run.
Above anonymous cryptocurrencies are some of the major players in the anonymous crypto spectrum and it is quite obvious that all of them fail when compared to DeepOnion. How? Keep reading.
DeepOnion is an anonymous #TOR based cryptocurrency which helps users conduct anonymous transactions in a secure and effective manner. How is this different when compared to Verge which also integrated the TOR browser? Security wise, this coin provides a multi-layered security model which is basically an amalgamation of privacy technologies(Zero knowledge protocols, TOR, DeepSend etc).
Technologies like Zero knowledge protocols have already been utilized by coins in the past which helped boost the popularity of such coins which shows how top of the line these technologies truly are. DeepSend is a multi-signature trust-less system which is also based on another popular technology called SuperSend which was utilized by SuperCoin and was another big hit.
DeepOnion also provides features like Smart Contracts(Will release in the near future) and DeepVault(It is a file encryption service which is used to encrypt your documents in a secure manner by encrypting the hashes of files). The DeepOnion desktop wallets and paper wallet function smoothly with minimal problems and an android and IOS version are also on the way and will be released very soon.
The community backing DeepOnion is one of the biggest and brightest crypto communities in the crypto world today and I am proud to be a part of this amazing community. Every member is willing to support DeepOnion no matter what. Another big advantage in favor of DeepOnion is the marketing campaign which is in full swing and is using the full power of the community in order to spread the word of DeepOnion(In a spam-free manner) to people around the world(DeepOnion was mentioned in an article talking about 50 Cent's success with bitcoin recently).
The DeepOnion developers are some of the most generous developers in the crypto community since they decided to give away a huge portion of onions to people around the world through an airdrop program which provided a set of onions to users every week(Based on their onion holdings according to the new rules) and asked very little in return from the members which is downright unbelievable if you ask me.
I have applied to many airdrop programs in the past, but I have never seen a program like this one which makes this one of the biggest and best airdrop programs in the history of the crypto world.
Above reasons are enough to state why DeepOnion is far superior to every anonymous cryptocurrency out there which is why I believe this coin is the future of all anonymous cryptocurriences and is paving the way to a new generation of anonymous transactions. Anyone who claims otherwise are in denial or simply spreading FUD for various reasons which I frankly do not care about. To learn more about this amazing coin, I advise you to check out the following link: https://deeponion.org/community/. DeepOnion is the future!