Hi everyone,
in this article I would like to focus on the privacy coins competitive landscape and share some thoughts regarding DeepOnion and its direct privacy competitors.
In particular, I found myself thinking about how many coins have made privacy and anonymity their own strength; it is therefore undeniable that this field of application for cryptocurrencies is, on an absolute level, very relevant (we do not take into consideration Italy that is a stand-alone story, given the position of the tax authorities vis-à-vis citizens) and, in my opinion, privacy will be the focus of many business areas in the future, not limited to cryptocurrencies.
To date, to say that there are many projects working in this field is way too simplistic; the first ones that come to my mind as direct competitors of DeepOnion are: Monero, NavCoin, Verge, PIVX, ZCash, ZCoin, Komodo and many others.
Given the very long list above, I asked myself if DeepOnion, at the moment, certainly not the most marketed and famous, has what it takes to conquer its share of the privacy market and, why not, be among the top 3 privacy cryptocurrencies.
Considering about maybe writing a dedicated article, or making a full video about the topic, in my opinion what makes (at least could make on the long run) DeepOnion superior to most of the above mentioned altcoins, is the anonymity of the IP address.
This feature, made possible thanks to the TOR network, makes DeepOnion superior to the much more capitalized Monero and Dash.
This feature in fact, could cut out of the competition some crypto competitors in the privacy space.
Moreover, DeepOnion offers very low transaction fees and therefore puts it in a better position than many others, whose fees are to date quite expensive.
Finally, its wallet is very user-friendly and the coins are easy to use and manage (take the term “use” in a broad sense, since the use of crypto in general is still very limited).
To me, this ease of use is a condition that could help a greater diffusion of the DeepOnion, since, if it were difficult to use, this would discourage most users and the related value of the coin would be affected.
Not to be underestimated, to conclude, one element that has to be taken into consideration for the future adoption of a certain coin is its diffusion on the exchanges; aspect to always keep in mind (it is clear that being listed on Binance is different from being listed on a minor exchanges).
Well, but what was said above does not cut off the competition all the other cryptocurrencies that focus on privacy and anonymity... therefore I believe that the completion might be won on minor features such as, in our case, DeepSend!
In conclusion, I believe we should follow and stay stick to our road map and have trust in the future, our project has all it needs to do very well in the crypto space both in the short and the long term.
Let me know what you think.
Supermox