credits: Whitefish
Introduction
A week back I penned down an article on DeepOnion, a next-gen anonymity coin. This coin is making waves at the Bitcoin Talk Forum with almost 1,000 pages since the thread's inception on 6 July 2017.
In a nutshell, DeepOnion has a core treat build into its system: the TOR network. People that value privacy have probably heard of the TOR network already. In essence, the TOR network enables users connected to the Internet, to visit sites and use the Internet in general without anyone being able to see what the user is doing. The connection between user and website or other online service goes via the TOR network, ensuring anonymous browsing and other online activity. No one can log what the user is doing (assuming his device has not been hacked).
The next thing: DeepSend
In the 2nd newsletter of the DeepOnion Developers, the upcoming 'Deepsend' feature was described in more detail. The relevant part of the newsletter is quoted below:
"This week's DeepOnion feature talk: DeepSend
I know a lot of you have been asking about this feature and are very keen to learn more. Well, you asked and DeepOnion delivered! Thank you to lead Dev @monocolor for his contribution to this piece.
Last week we discussed the Tor feature and learned that it only secures the network, meaning that your IP is protected and your peers won't know your IP. However, as discussed, transactions are not protected, meaning that in the explorer/blockchain you can still see all the tx from all addresses, and can relate the tx from source to destination.
There are a few methods that can be used to hide the transaction traces. The most common one is the "mixer", where you send your coins to a pool (like an exchange) and the pool will forward the same amount of coins to your destination. Since the pool has many addresses, viewed from the blockchain, you'll not be able to determine the source and destination of the real transaction. Another method is witnessed in zerocoin or zerocash, where you can burn some coins and generate the same amount of new coins from a different addresses (minted), thus people can't connect these coins to your usual address.
The DeepSend will use a multi-signature method to hide the transaction trace. It is one of the true trustless systems that was first developed in Supercoin (you can read an extremely detailed technical explanation of this technology here: https://bitcointalk.org/index.php?topic=1351548.0). What is important here is that we are adopting a tried and tested technology that is trusted by existing users. We will leverage this service and develop an enhanced version of it providing further anonymity, speed and trust. Thus with DeepSend, our network and tx will be both secured and efficient. Specific details on DeepOnion's implementation will be discussed at a later stage (we are currently testing and do not want to comment until it's ready and tested)."
This means that DeepSend willvessentially mean the following:
1. Simple explanation
This is a simple explanation of how a DeepSend transaction occurs.
- the Sender wants to send 100 DO to the Receiver with DeepSend
- the Sender puts in a transaction for 100 DO to be send to the Receiver
- 200 DO from the Sender's wallet is put into escrow and the network picks a random Mixer and Guarantor
- the Mixer sends 100 DO to the Receiver as a 'mixed transaction' (to obtain privacy) and posts back the results
- the Sender confirms the actions of the Mixer; the 100 DO still held in escrow will go back to the Sener
transaction complete
Observations:
- sending with DeepSend is optional
- sending with DeepSend will bear a fee
- sending with DeepSend requires the Sender to hold 2x [payment amount] + fee in his wallet
- the fee will be shared by the Mixer and the Guarantor
- the Guarantor's role is to decide if the Mixer and the Sender do not agree
2. More technical explanation
See below a picture from the Supercoin thread:
credits: Supercoin thread at Bitcointalk
Some further observations:
- nodes will act randomly as Mixer or Guarantor
- such nodes will have to hold a certain minimum balance in
- acting as Mixer/Guarantor can be turned off by someone maintaining a node
- anonymity can be increased by the code using canonical values (e.g., 1, 2, 5, 10, 25, 50, 100 etc) so that payments cannot be linked by means of matching exact transaction amounts
- DeepSend does not cloak addresses and/or balances in addresses
Road Map
The addition of DeepSend functionality is scheduled for Q4 2017. Further steps in the development of DeepOnion are set out in the roadmap below:
credits: maxmad_x
The 2nd newsletter of the DeepOnion Developers also refers to the DeepTrust feature, that will precede DeepSend. No further information is available yet but is announced for the next newsletter.
So sign up for the DeepOnion Community and stay informed.
Airdrop
The Airdrop is only open for BitcoinTalk users from a certain level (Members). Each new subscriber will be vetted by the Devs: they do not want dumpers who dump the coin at first sight. They want committed members who want to contribute to the cryptocurrency scene and DeepOion in particular.
Hey, I did not invent these rules....
Number of Tokens
12.5 million tokens will be distributed in 40 weeks of which 9 weeks have already lapsed. There are strict rules to this Airdrop and failure to adhere to these rules
Signup process
As described on and summarised from the DeepOnion website:
How to Apply for the DeepOnion Airdrop! Instructional Video
- Watch the video:
Link to forum thread
Apply once and continue to obey the rules to be eligible for all future airdrops. You will receive +0.008 ONION for confirmation!
Adjust your BitcoinTalk signature: https://deeponion.org/view_signatures.php
It seems complicated but the process is actually quite simple. Just do it.
Again, if you do not qualify for the Airdrops, you can still join the DeepOnion community and start contributing (and try to get bounties regularly posted).
More information
If you want more information on DeepOnion, you can visit the following links:
- DeepOnion Website: https://www.deeponion.org/
- DeepOnion Community: https://deeponion.org/community/
- Steemit: https://steemit.com/trending/deeponion
- Discord (chat): https://discordapp.com/channels/353801541225938944/353801541225938945
- Bitcointalk: https://bitcointalk.org/index.php?topic=2006010.0
- DeepOnion trading: https://novaexchange.com/market/BTC_ONION/
Happy Steeming (and be anonymous....)