4 Key Reasons Why DeepOnion Will Become The Top Anoncoin In 2018
I have been a crypto investor for just over 6 months now. Six months in crypto is a short period, but in these few months I have educated myself and have grown to be a real crypto enthusiast. I always consider myself a ‘hipster’ in the crypto community as I am always searching for that underdog cryptocurrency that can rise to the top.
Many nights I’ve sat in the dark scrolling through coinmarketcap looking at every possible coin there is with a market cap below 20 million USD. Many times have I read the whitepapers of coins from which I thought, these will never make it.
After about one month of scrolling through the coinmarketcap list, I was about to focus my attention on something else, until I found this beauty called DeepOnion. At first the name struck me as quite funny, but after reading their plans for 2018 and looking at the things they have already accomplished, I was sold.
DeepOnion is a diamond in the rough. And here are 4 reasons why:
1. COMMUNICATION
As we all know, a good crypto project not only needs good technology, but also needs an active and growing community. The way DeepOnion (or DO) grows its community is truly genious. See, most crypto coins grow their community by placing an invite link to chat groups like Slack, Telegram, Ryver, Discord, etc. on their website. These chat groups are useful in the beginning, but tend to get messy quick as the number of users increases. It is not often that you have to go through 200 messages in these chat groups of which only 10 messages are of importance to the project.
DeepOnion takes a different approach. Instead of communicating through these chat apps, DO created the DeepOnion forum. This forum lets DO users from all over the world connect with eachother and allow them to share ideas on how to improve DO technology, tackle marketing, post design propositions, and many other topics. The structurized manner in which these forum posts are classified make it an easy forum for both veterans and newcomers to educate themselves on the DeepOnion project.
2. MARKETING
The DeepOnion forum not only serves as a communication tool, but is also apprehended as a marketing tool. The users of DeepOnion forum get DeepPoints for reading, commenting and creating new threads. These DeepPoints are converted to Onion tokens every sunday and are automatically sent to the appropriate Onion wallet addresses.
Thus users of the forum get rewarded for being active, which in turn grows the community, which in turn increases the interest in DeepOnion. It’s a win-win marketing strategy and they know it.
On top of these DeepPoints, DO organizes weekly bounty campaigns for the best article, meme or video. Looking at the current price of DeepOnion standing at $3.00, and looking at the bounty program rewards for the 22nd week (of 40 weeks in total), we see that a decent meme can get you about $150 already. The bounty for the best meme of the week is the lowest reward you can get. Writing a good article can get you around 100 Onions which amounts to $300. Not bad for a day's work right.
But, the best is yet to come. To distribute the Onion tokens the team behind DeepOnion took a different approach. Instead of launching an ICO to distribute Onion tokens amongst the population, DO launches a weekly airdrop.
And I must say : the airdrops are F-E-N-O-M-I-N-A-L !!
Currently the airdrops are in the 23rd week of 40 planned weekly airdrops in total. For those of us who fear that all Onion tokens are already distributed I say fear not!
In the first 16 rounds of the airdrops, DeepOnion dropped 3.2 million Onions to the active airdrop users. Calculating this price with the current $3.00 per Onion token this amounts to roughly 9.6 million USD that was distributed amongst the active DeepOnion population.
Better yet, in rounds 16 to 40 of the airdrop, the DeepOnion team will distribute another 6.8 million to the active airdrop members, amounting to another 20.4 million USD that will be airdropped in the following weeks.
Details on how to apply to these airdrops can be found on their website using the following link : https://deeponion.org/airdrop.html
Through these bounty programs, Deeppoints and Airdrops, the DeepOnion community continues to grow everyday. And because of the incentive to be active, the community is amongst the best I have seen in crypto projects. The DeepOnion community is built on a strong base of active users which will prove to be a foundation for the future.
3. FULL ANONIMITY
I have talked a lot about marketing and bounty programs of DeepOnion, these are the start of the adoption process of a cryptocurrency, but of course everybody knows that the real longterm value of a coin is derived from its technology and usability.
DeepOnion tackles a major financial problem found in both blockchain and non-blockchain markets, namely : transactions can be traced and seen by everybody and third parties can track your every spending. You might not be aware of it, but every action you make online is tracked and stored in databases and this information is sold to big corporations, who use it for commercial reasons; governments, who use it for controlling reasons; or even third parties, who use it for other, possibly malicious reasons.
As large insititutions are trying to regulate the crypto market, and internet neutrality is at the brink of extinction, the need for anonymous transactions becomes ever so important. DeepOnion guarantees this anonymity by fully integrating their transactions through the Tor Network. The Tor network works by encrypting your IP address through several layers of encryption. Making transactions through the Tor network thus not only encrypts the transactions but also shields the senders’ and recipients’ IP addresses from their peers.
Tor network integration is already implemented in the DeepOnion wallet. However, to further increase the anonymity of the transactions and its users, DeepOnion will release an additional feature called DeepSend. Deepsend will allow users to hide the transaction trace by using a multi-signature method.
Thus, by encrypting the user's wallet, transaction information, and transaction traces; DeepOnion creates a true, fully anonymous cryptocurrency into the market.
4. NETWORK SPEED & FEES
As the main usability of Onion tokens will be to perform anonymous transactions, a fast and trustworthy network is necessary to ensure the longterm usability of the Onion token. Bitcoin was originally created to handle global scale transactions, but as the global adoption rose, bitcoins’ network fell behind.
The average block interval of Bitcoin is about 600 seconds. A block holds a block size of 1 MB. An average transaction block is about 500 Bytes. Thus, 1 MB = 1,000,000 Bytes divided by 600 seconds gives us 1,667 Bytes/second. Since each transaction block is about 500 Bytes, Bitcoin is only able to process 3-4 transactions/second.
For BitcoinCash the block size was improved to 8 MB, this increases the transaction speed to about 8 x 3-4 transactions/second = 24-32 transactions per second. This is already a major improvement as compared to the speed of the Bitcoin blockchain, but DeepOnion offers more.
DeepOnion has an average block interval of 48 seconds. A block holds 1.5 MB of data. Thus, 1.5 MB = 1,500,000 Bytes divided by 48 seconds = 31,250 Bytes per second. Since each transaction block is about 500 Bytes, the amount of transactions the network can handle per second is about 62.5 transactions/second.
Thus, as a comparison, the DeepOnion network will perform 15 to 20 times faster than Bitcoin and about 2 times faster than BitcoinCash. What an improvement!
On top of the faster transaction speed, DeepOnion also tackles the expensive fees that recently struck Bitcoin. Today, Bitcoins’ average fees have surged to $23. This is completely preposterous as the beauty of the blockchain lies within both the speed of the network and the low fees to add the transactions.
When a transaction is added to the DeepOnion network, a mere fee of $0.004 is applied per transaction, making DeepOnion transaction fees over 5,000 times cheaper than those of Bitcoin.
(Numbers used for these calculations can be found on the forum thread https://deeponion.org/community/threads/how-many-transactions-per-second-can-deeponion-handle.12811/)
So what’s on the agenda for DeepOnion in 2018?
The DeepOnion team has set some impressive goals for 2018 which include the release of mobile wallets for Anroid and iOS in Q1 of 2018, and the support of smart contracts in Q2 of 2018. Check out the roadmap below.
For the design of the new wallet, the DeepOnion team held a design contest on the DeepOnion forum. The winning design can be seen on the images below and they are simply amazing.
If you are interested in finding out more about the DeepOnion project you can hit me up on the DeepOnion forum : https://deeponion.org/community/threads/article-4-key-reasons-why-deeponion-will-become-the-top-anoncoin-in-2018.21161/#post-317709 or on the Bitcointalk forum : https://bitcointalk.org/index.php?topic=2621462.msg26678282#msg26678282
Thank you for reading this and I hope I will talk to you soon on the DeepOnion forum!
All images rights reserved to DeepOnion forum member Impressive.