DeepOnion, a hybrid community-based cryptocurrency, is now officially integrated to run through the Tor network.
Connections for the new cryptocurrency are set to send on the Tor network, which is well known for its anonymity capabilities.
This coin works in a similar way as Bitcoin, but it has more advantageous enhancements concerning privacy.
With due consideration of the growing support for the use of virtual currencies, privacy-centric features are a key component to any new altcoin.
The decentralized nature of cryptocurrencies means that parties such as governments and banks have no control over crypto transactions.
This concept forms the basis of how new coins are conceived and developed. And the newly launched DeepOnion coin follows the same strategy.
DeepOnion is touted as a reliable, fast, trustworthy and confident cryptocurrency served through the Tor network for boosted security and maximum anonymity.
DeepOnion Enables Virtual Anonymity
DeepOnion is integrated with Tor’s OBFS4 system, a TCP protocol consisting of concealment layers. Its purpose is to mask the content protocol information so that all traffic appears random.
Specifically, DeepOnion is now available with meek, a pluggable transport tool for censorship circumvention.
Meek is able to channel Tor traffic via HTTPS by use of a unique technique known as “domain fronting” to conceal the fact that one has made communication by use of the Tor network.
According to the DeepOnion white paper, the project has numerous additional key features that will make it unique and significantly valuable to its users.
Thousands of people using Tor network are expected to form a community that will continuously build the DeepOnion privacy-centric virtual currency by promoting its concepts.
Unlike other cryptocurrencies, DeepOnion does not make use of crowdfunding—commonly known as Initial Coin Offerings—but instead distributes almost all the coins (90 percent) freely as airdrops.
This airdrop feature does not require the involvement of many people for a trade or transaction to be completed, hence increasing the value of a trade anonymously.
Airdrop distribution rates are calculated based on the total coins owned by members of various levels—regular members, full members, senior members, hero members and legendary members.
The members who are loyal to DeepOnion’s airdrop system will earn a higher status of membership. Being a full member means one has the privilege to vote in the DeepOnion vote central.
Members who might have joined earlier earn full membership status after following the set rules and continuously participating DeepOnion’s major events.
Additional Advanced Features of DeepOnion
DeepOnion comes with yet another advanced and unique feature introducing the use of DeepVault. This is an information store held deep in the blockchain where data is stored and immutable forever.
This is an important aspect as data is filed securely and allows a series of verifications so users can feel confident that their data has not and cannot be altered or tampered with.
In the world of virtual currencies, the recurring problem of transaction delays may be a thing of the past after being addressed by DeepOnion.
Popular cryptocurrencies, including Bitcoin, are receiving complaints from customers who experience delays that can last hours before the transaction is confirmed.
There is little that can be done about this issue due to the architecture of the cryptocurrencies’ network.
But DeepOnion offers a new door to a faster, more anonymous and completely secure transaction process—all taking place within an acceptable time frame without compromising privacy at the expense of quick transactions.
To keep users’ identity and location safe from exposure, DeepOnion has built a better and more secure way of sealing privacy loopholes through a multilayered anonymity safeguard. This is by the help of the Tor network, which works continuously to provide ultimate privacy to users within the cryptocurrency ecosystem.
For overall privacy and anonymity, DeepOnion’s DeepSend feature can enable users to make and receive payments that are untraceable by use of a unique multi-signature, which ensures that both transaction origin and destination are completely concealed.
Wile DeepSend has already been shown to benefit users, a more efficient version with even higher processing speeds and further security is being developed.
VoteCentral is yet another advanced feature that will help DeepOnion to keep users’ engagement at its best. It is set to allow the DeepOnion community to voice their thoughts and opinions on matters concerning the DeepOnion cryptocurrency. VoteCentral is expected to outsource innovative ideas and feedback from the cryptocurrency world—something that might help DeepOnion grow radically, benefiting crypto exchanges and users.