The Potential Of DeepOnion
In this article, I’ll discuss what DeepOnion is and it’s potential for the future.
What is Deep Onion?
Deep Onion is a relative newcomer on the cryptocurrency scene with aims of increasing the levels of privacy for its users and reducing the overall risk of the blockchain being hacked or corrupted, thanks especially to the integration of the TOR network. If you are unfamiliar with what TOR is, you can read more about it on Wikipedia
The actual currency of DeepOnion is known as ONION, which can be send and received by users on the TOR network. DeepOnion is actually a hybrid crypto-currency meaning that it uses both the Proof of Stake (PoS) and Proof of Work (PoW) models. You can mine ONIONs using your computer or if you already have ONIONs in your desktop wallet, you can earn more by staking them.
DeepOnion: Rich In Features
The DeepOnion project is set to feature a plethora of novel blockchain technologies, which differentiate it from other cryptos and offer its userbase a wide number of cool features.
We have already discussed the TOR network, which acts as a privacy protecting feature. On top of this DeepOnion implements DeepSend, which offers further security by obfuscating transaction traces within the DeepOnion blockchain. This novel technology furthers both the anonymity and privacy aspect already offered by the TOR network.
Another feature of DeepOnion is DeepVault, which is an extension of smart contracts used to verify the integrity of files. This could be very useful, when sending important files such as legal documents and adds yet another layer of security to the DeepOnion interface.
Mobile wallets are planned for both Android and Apple users in the near future, with similar functionality to that of the desktop wallet.
Finally a feature called VoteCentral will allow DeepOnion users to vote democratically on future proposals of the DeepOnion project.
Is DeepOnion A Good Investment?
According to the popular website Wallet Investor, DeepOnion could be worth $75 in 5 years time and could also go over $20 in a years time. You can currently buy DeepOnion for around $2.70 as of today (06/03/2018). These predictions certainly paint a rosy future for this new and upcoming cryptocurrency, which has already hit highs of over $18.
If you’d like more analysis on the future of DeepOnion, check out my article here: https://deeponion.org/community/threads/article-the-future-of-deeponion.31504/
DISCLAIMER: None of the information presented above is meant as financial advice. Investments are made at your own risk.