Cryptocurrencies have multiplied exponentially over the past few years with more entering the space every day. If you navigate out to any of the many well-known crypto tracking sites, you can see for yourself the vast array of cryptocurrencies trading today. Some are easy to identify such as the very well-known Bitcoin and others, well, not so much such as the coin MikeTheMug? One particular coin has a name that might seem strange to you unless you know it’s meaning, and that coin is DeepOnion.
For those of you that are unaware of DeepOnions’s utility, it is an entirely anonymous cryptocurrency that utilizes the TOR network to provide increased levels of transaction privacy. Based on my research, the DeepOnion name references two sources. The Onion part of name refers to the TOR network for which this project is denoted by an onion as seen below:
Per TorProject.org, the Tor network is a group of decentralized servers that allows individuals the ability to improve their privacy and security while engaged on the Internet. Furthermore, Tor is an effective censorship circumvention tool, allowing users on the Tor network to reach destinations or content that would be otherwise blocked (TorProject.org, n.d.). The Tor network protects user identity through a process known as onion routing. Onion routing utilizes encryption to protect the contents of a user’s message, while the Tor network structure prevents an outsider reviewer from monitoring the user’s traffic. Together, these two elements deter websites from tracing a user’s data back to them (Swan, 2016).
The Deep part of the name most likely references the Deep Web. The Deep Web is a portion of the Internet that is not accessible to link-crawling searches such as Google and Yahoo. The only way someone can access the Deep Web is by performing a search that is directly within a particular website. (Pederson, 2013). Here is a depiction of the Deep Web as presented by a Pinoy Secret Writer for the website PinotSecretFiles.com. Can you spot the Tor network within the illustration and at what level it falls regarding the web? Most searches the average user performs happen in the surface web level; however, the Tor network is part of the deep web level not directly accessible by the average web user.
There you have it; this is how the cryptocurrency DeepOnion most likely came up with its name. So, if you are looking for a reliable privacy cryptocurrency that promises complete anonymity, then consider investing in DeepOnion.
Disclaimer: As with all investments, there are no guarantees. Investors should understand all risks involved before investing. If you are considering investing in the cryptocurrency market, do your research first and make sure you do not invest more than you stand to lose.
References
Pederson, S. (2013, March). Understanding the Deep Web in 10 Minutes. [PDF File]. Retrieved from https://bigdata.brightplanet.com/hs-fs/hub/179268/file-22990148-pdf/docs/deep_web_whitepaper_v3_for_approval.pdf
Swan, K. (2016, Nov.). Onion Routing and Tor. Retrieved from https://www.georgetownlawtechreview.org/onion-routing-and-tor/GLTR-11-2016/
TorProject.org (n.d.). Tor: Overview. Retrieved from https://www.torproject.org/about/overview.html.en