DeepOnion is a brand new PoW (mineable) and freely distributed coin to the community (through regular airdrops). The news of DeepOnion is spreading like wildfire across social media as we speak.
What is DeepOnion?
It is a brand new coin that was released on the 12th of July. The developers have taken the unique approach to how they distribute the coin. 90% of the coin has already been mined, of which the vast majority will be used to distribute for free to people who join the free airdrops (more on how you can receive your free coins further down the article).
The development team's focus is on creating a secure and anonymous transaction network. To achieve secure transactions, they are utilizing the Tor network to connect directly to the DeepOnion wallet. As a result, your IP address is not registered anywhere when using DeepOnion. Instead of this, an anonymous Tor network ID is created for you.
As your IP address is hidden, it makes any payments/transactions that you make completely anonymous. Nothing can essentially be traced back to you.
The coin also boasts of extremely fast transaction speed, much faster than Bitcoin (at present I have been able to test this).
*A transaction took less than one minute during my test transactions.
How do you get DeepOnion coins?
There are three ways of getting DeepOnion's;
1. Either through their next airdrops, which will be transferred free of charge directly into your DeepOnions wallet or:
2. You mine it
3. You can currently purchase DeepOnion's on NoveExchange.com.
Roadmap and long-term plans for improvement
The DeepOnion currency has started trading on its first cryptocurrency exchange in the third quarter of 2017. The dev team is focusing on ensuring the coin keeps on improving its technology (with emphasis on security, the speed of transaction and stability).
I have chosen to focus on and highlight the most important technological improvements to DeepOnion here below (that will be implemented over the next eight months).
- Release paper wallet and brain wallet in the third quarter of 2017.
- The launch of DeepSend - which they describe as their next level in block-chain anonymity, so what this precisely is about, will be very interesting to see.
- 2018 first quarter - the launch of mobile device wallets (iOS and Android).
- 2018 second quarter - Importing modern features and future advancement to our blockchain technology.
- 2018 second quarter - More exchanges tradable for Onions.
- 2018 Second Quarter - More shopping sites accepting Onions.
- 2018 Second quarter - Onion accepted games.
- Furthermore, development suggests they will be taking feedback from the community in consideration for any future product development which is highly encouraging to see.
How many coins will there be?
The developer stresses that the maximum number of coins will be 25 million and that the maximum supply would be reached in approximately 10 years - in 2027. 18 million of the coins are already pre-mined. The vast majority is intended for the free airdrops. Airdrops will be available to anyone who follows the guidelines of how to claim the airdrops. Two million coins will be mineable by the public via their x13 algorithm (I will explain this in a separate followup blog how you can mine the coin efficiently).
Who is the team behind DeepOnion?
This is less relevant than it is with most other projects, as the coin is mostly free to receive, and therefore limits your risk in acquiring the coin at present. It is also rather fitting that for a coin that emphasizes complete anonymity as what makes them stand out, that the identity of the developers is unknown.
It is highlighted through their website and the Bitcointalk thread that the team does consist of veterans in social media, search engine marketing experts (SEM) and block-chain developers, and is four-man strong.
The team appears genuinely committed to wanting to continue to deliver productivity improvements to DeepOnion, especially when considering the level of detail they have included in their Bitcointalk post and on their website and their official roadmap.