DeepOnion is an anonymous cryptocurrency that is natively integrated with the TOR network. It aims to increase the level of privacy offered to crypto users to reduce the likelihood of being hacked or attacked by other legal & illegal entities. It provides a host of advantages when compared to other cryptos.
Below I have outlined 5 major reasons to use DeepOnion:
1. Totally Anonymous
Since all transactions made using DeepOnion are routed via TOR providing a great level of anonymity by hiding your IP address. Your original IP will not be shown to the network because DeepOnion operates over TOR. Your new "ip" will look like this: "mdhg45kehf34tfy.onion". Implying that your IP is protected and your peers won't know your IP. An incoming feature called DeepSend will use a multi-signature method to hide the transaction trace. With this the anonymity offered by the coin increases many-folds.
2. Fast Transactions
DeepOnion offers fast confirmation times. This means that you can send and transfer money very fast unlike the ridiculously slow ways of Bitcoin. The average transaction size is about 500 Bytes. The DeepOnion blocksize is 1.5MB, each block thus holds about 3000 transactions. DeepOnion has one block every 48 second, which can handle 3000 transactions, this means it can handle a maximum transaction rate of : 3000/48 = 62.5 tx/second.
As a comparison: bitcoin has block interval 600 sec, and has a block size of 1MB, this translate to a maximum process rate of 3-4 tx/second. Even with BitcoinCash which increases block size to 8MB, that can process only about 27 tx/second.
3. Low Fees
The entire reason a lot of us are in the digital currency space is because of the low fees. Bitcoin’s average fees have recently skyrocketed to $23 and it’s completely ridiculous. Even average Monero transactions cost $6. With DeepOnion I am only charged a fee of $0.004.
4. DeepVault
DeepVault allows Onion users to store file validation credentials (hashes of files) within the blockchain. Thus, an immutable record is maintained. This allows users to verify a file's integrity over time. Whenever one wants to verify he merely has to compare the hashes. If the hash of the file changes, then the file has been altered or corrupted. This tool will be invaluable in verifying legitimacy of documents, to identify file corruption and check if import documents have been tampered with.
5. Helping the TOR Network
By using DeepOnion, you help to increase the number of nodes on the TOR network, and in so doing, you help people all over the world stay anonymous online. You are helping people live in a free internet.
In the end, I would like to say that this is a young coin. It was shown to the world mere five months ago but development behind it is amazing. I would suggest being a part of the community here.
