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DeepOnion: A weekly update

Discussion in 'Altcoin Reviews' started by Ebenezar64, Feb 4, 2018.

  1. Ebenezar64

    Ebenezar64 Scholar

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    I have been interested in the DeepOnion project for a while and thought it might be fun to start a thread here trying to give weekly updates on what is happening with the project and what it is about.

    What is DeepOnion?!
    DeepOnion is a cryptocurrency that is natively integrated into the TOR network and ensures anonymity of the users by hiding their IP address to the other nodes. It is a combined PoW and PoS coin with most of the coins being "pre-mined" and distributed through AirDrops and Bounty campaigns

    So what is this thread about?!
    I will try to answer questions people have about DeepOnion as well as give weekly updates (as seen below) on the latest news regarding DeepOnion. Just remember that I am a single person and I might not have time to answer all questions but I will try my best.

    Where can you buy/trade DeepOnion?
    DeepOnion is mainly traded at: Cryptopia and KuCoin.


    ----------------------------------------------------------------------------------------

    DeepOnion Weekly update - 2018 Week 5
    Releases
    Desktop Wallet update was released this week with the latest TOR protocol upgrade (0.3.3) has been implemented, DeepOnion Wallet is now integrated With OBFS4.
    For more information how to integrate OBFS4 with the DeepOnion wallet please check this DeepOnion OBFS Guide


    Upcoming
    The release of the Android Wallet and the DeepVault Web applications are said to be near at hand and this is something I am personally looking forward to. At the last Live Q&A the first transfer, using the DeepOnion Mobile Wallet, was sent successfully.


    Next.Exchange is working on adding DeepOnion and will go live soon.


    AirDrop
    The 29th of 40 AirDrop was delivered this week giving out a total of 242 500 $ONIONs to 843 people. If you want to know more about the AirDrop statistics check out, DeepOnion 29th AirDrop Statistics.

    ----------------------------------------------------------------------------------------

    There is so much more that could be said that everything can't be covered in one post. But if you keep following this thread I hope to give you an insight into what DeepOnion is doing and what is upcoming. Let me know what you would like to know/see in this thread and I will try to add it.

    If you are completely new to DeepOnion I suggest you take a look at some of the links below or feel free to ask questions:

     
    Last edited: Feb 11, 2018
  2. Ebenezar64

    Ebenezar64 Scholar

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    Since I plan to be a bit more active here than just once a week I thought I would also take the time to explain at least one feature of DeepOnion every week more in-depth in a post. This first post is regarding: DeepVault. Feel free to ask questions or give comments.

    DeepVault
    The DeepVault feature is storing "file-hashes on the blockchain", to make it more understandable, think of it as a "fingerprint" of a file stored on the BlockChain. There are softwares that can create "hashes" of files that are unique for every file. Since every file has a unique "hash value" and any change to that file would result in a different hash being created for that file.

    By being able to store the "hashes of files" on the Blockchain, which is immutable and unchangable these hashes can be used to verify that no one has tampered with your files/contracts. This is especially important for: legal documentations, contracts, propriatary documentation etc...

    With a DeepOnion wallet and Internet access you will be able to verify your files at any time against tampering. This means that Blockchain doesn't actually have to store the entire file, the file could be stored off-site, thereby saving a lot of space on the Blockchain.

    DeepVault is integrated to the DeepOnion Desktop wallet and can be used for free to verify the validity of files. When updating your DeepOnion wallet you can make sure that you receive the exact file delivered from the developers and don't download a "fake wallet" containing malware. To upload a "file fingerprint" to the BlockChain costs 0.01 ONIONs which is a very small sum for such a benificial functionality.

    As mentioned in the weekly news, development on a Web-Application for DeepVault is ongoing and close to being released.
     
  3. Ebenezar64

    Ebenezar64 Scholar

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    BitCoin at $6.500 and DeepOnion at $2.9 this morning. How far down will the price go?

    I would say that DeepOnion being at over 85% discount from ATH is a pretty good deal. But if you want to get into DeepOnion or any project I would suggest you use: "Dollar Cost Averaging" and buy over a period of time. It is impossible to know how long this "bearish" trend will continue so spread the risk and if the price goes lower you will get "more for you bucks".
     
  4. Carlos Lopez

    Carlos Lopez Contributor

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    I've heard of DeepOnion a little bit these days, but thanks for sharing this info here!
     
  5. Abril Keys

    Abril Keys Contributor

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    @XIntel some updates about DeepOnion !
     
  6. Ebenezar64

    Ebenezar64 Scholar

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    Glad to see some people joining the discussion! Maybe you are feeling better with some green numbers at CoinMarketCap?! It has been awhile for all cryptos, all this red has been depressing.

    With the China FUD going around there is some good news from DeepOnion. Their latest wallet release has shown a successful sync in China by integration with MEEK. If you want to know how to set-up MEEK and OBFS check out this thread: DeepOnion V 1.5.5 Dv Comes With Obfs4 + Meek (for China)

    And if you want to see the proof of official wallet sync in China: DeepOnion Meek Integrated Wallet Syncing In China

    Short price recap for the day is that:
    BTC - 7000$ -1.2%
    DeepOnion - 3.44$ +8.6%
    SpectreCoin - 1.38$ +0.5%
    CloackCoin - 7.39$ - 6.2%

    I include two new coins in the list for comparison: CloakCoin and SpectreCoin. Both are privacy coins around the same market cap as DeepOnion so it might be of interest to look at some developments going forward.
     
  7. Ebenezar64

    Ebenezar64 Scholar

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    Strong movements today in the crypto markets:

    BTC - 7711$ +24%
    DeepOnion - 4.61$ +64%
    SpectreCoin - 1.75$ +42%
    CloakCoin - 8.69$ +40%

    It seems as DeepOnion is one of the strongest "bouncers" today and is rebounding strong.

    Since DeepOnion is currently doing AirDrop (still a chance to join) for another 9 weeks the coin cupply and market cap on CoinMarketCap is not correct. In order to get a correct view on this the DeepOnion team has updated their Webpage to include the current Circulating supply. Check out DeepOnion Homepage to see this. At time of writing this:

    ONION: $4.61173
    Market Cap: $44,939,405
    Circulating Supply: 9,744,587
    Estimated CMC Rank: 207
     
  8. XIntel

    XIntel Contributor

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    Ok, thank you
     
  9. Ebenezar64

    Ebenezar64 Scholar

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    The crypto market is slowing down today and maybe looking to find some stabilization.

    BitCoin - 8360$ + 1.1% (Had a high over 8500$ during the night)
    DeepOnion - 4.99$ -2.46% (Had a high at around 5.5$ during the night)
    SpectreCoin - 1.79$ -1.42% (Had a huge spike, pump-and-dump, to 2.6$ during the night)
    CloakCoin - 9.91$ +4.24% (Had a high at 10.5$ just a few hours ago)

    These statistics are taken from CMC and %-change is compared to 24 hours ago.
    All coins are continuing strong and if BTC starts to move up again we can most likely expect further gains in all of them.
     
  10. Cryptologist

    Cryptologist Contributor

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    Seems like this forum really likes DeepOnion. I see it mentioned a lot everywhere on this forum.
     
  11. Ebenezar64

    Ebenezar64 Scholar

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    I see it mentioned in a lot of places so I think a lot of people like it. What are your views on it?
     
  12. Ebenezar64

    Ebenezar64 Scholar

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  13. Cryptologist

    Cryptologist Contributor

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    Seems to be solid with a lot of potential. I think I will wait and observe for a while and then get in. Right now, I put everything I can afford to lose into BTC during the crash last week ;)
     
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  14. CryptoRyuzaki

    CryptoRyuzaki Scholar

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    I have not looked much at the DeepCoin till now. How do we join the DeepOnion Air Drop and how much do we get currently?
     
  15. Ebenezar64

    Ebenezar64 Scholar

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    You can find out all the rules here: https://deeponion.org/airdrop.html

    But basically you need to have an account at BitCoinTalk and it has to be Jr Member status (takes about two weeks to achieve if you haven't got it). Then you need to have 50 ONIONs in your DeepOnion wallet (needs to be desktop wallet). Then you get 4-5% of your total ONIONs in your wallet every week.

    So let's say you invest 500$ and buy 100 ONIONs and join the AirDrop next week (you have BCT account already). Then you will get about 4-5 ONIONs added to the wallet on Friday. There are still 10 weeks to go and every week is 4-5% accumulated interest. That means that after 10 weeks you will have around 150-160 ONIONs. If you have your wallet running then you will also stake at an annual rate of 10%. For 10 weeks that is about 2% = 3 ONIONs more during this time.

    So you can get 50-60% free gains by joining the AirDrop in just 10 weeks, and that is assuming nothing happens to the price which is currently looking pretty good compared to ATH. I suggest you look into the project for yourself to see if you are interested and go from there (I always advocate to do your own research).

    Even if you don't have a BitCoinTalk account right now, if you are somewhat active you should be able to reach Jr Member status in about 2 weeks and can join AirDrop for the final eight weeks.
     
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  16. CryptoRyuzaki

    CryptoRyuzaki Scholar

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    Thanks for the detailed explanation, will check it out :)
     
  17. Ebenezar64

    Ebenezar64 Scholar

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    ----------------------------------------------------------------------------------------
    DeepOnion Weekly update - 2018 Week 6
    Releases
    We have gotten a sneak peak on the DeepVault Web Application. The release is said to be close at hand. If you want a sneak peek at the DeepVault Web App you can find it here in the official 21st official Newsletter.

    Upcoming
    The Android Wallet development is going forward and the release is still on schedule for Q1 as planned.

    Next.Exchange is still working on adding DeepOnion and will go live soon. The next step will be to focus on Binance.

    AirDrop
    The 30h of 40 AirDrop was delivered this week giving out a total of 245 000 $ONIONs to 887 people (an increase of 44 people). If you want to know more about the AirDrop statistics check out, DeepOnion 30th AirDrop Statistics.

    Price Update
    BitCoin $8080 -10% in last 24 hours
    DeepOnion $4.19 -13% in last 24 hours
    CloakCoin $8.77 -15% in last 24 hours
    SpectreCoin $1.64 -13% in last 24 hours

    It is the drop in BitCoin that is drawing down the value of the ALTs. BTC is balancing on an important level of $8k. If that level is broken we might expect lower values down to the low of last week. The evaluation of the other privacy coins are holding up pretty well in comparison to BTC showing that the coins are close to as low as they are going to get (in BTC evaluation). We will have to wait and see what happens to BTC in the coming days before we can draw any more conclusions
    ----------------------------------------------------------------------------------------
     
  18. Ebenezar64

    Ebenezar64 Scholar

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  19. Ebenezar64

    Ebenezar64 Scholar

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    Just saw a working Demo of upcoming DeepOnion release: Stealth Addresses. check it out here: themonkii weekly update on Youtube. But what are Stealth Addresses?!

    Stealth Addresses
    Stealth Addresses is a way to do transactions "outside the public BlockChain". The stealth address is generated when doing a payment and is noted down on the BlockChain but an outside observer can't see how much is moving or between who. The stealth address is a "one-time use" address for that specific transaction and can in no way be linked to you as a person.

    As I understand it, let's say you have XX $ONIONs in a wallet address but due to postings on forums and previous transactions done you feel that people know that this is your address and by monotoring this address people can figure outwhat you are doing with your $ONIONs. You can then generate a new DeepOnion public address: "NEW" in your wallet (never used before and no way to link to you). You generate a bunch of stealth addresses that is spendable via "NEW". You then use these stealth addresses to receive your "original" $ONIONs. Now you have your $ONIONs in accesable via "NEW" that no one knows about. From the BlockChain perspective the transactions to "NEW" never came from your original address, only you as a recipient knows that these "stealth addresses" are linked to "NEW" and how much is in them.

    It is true that if someone monitored your "original" address they can see that you sent $ONIONs to these stealth addresses but they can't know for sure if you sent to yourself, made a payment at a store, used at an exchange or sent to a friend etc... It is not fully anonymous yet but at least you can make your $ONIONs "unlinkable" to your ID and any single address.

    The next steps with DeepSend and Zero-Knowledge that DeepOnion plan to implement will ensure "untracability" as well as "unlinkability" making your actions truly anonymous on the BlockChain.
     
    Last edited: Feb 14, 2018
  20. Ebenezar64

    Ebenezar64 Scholar

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    DeepOnion has passed $5 and BitCoin has passed $10k. Both of these were important levels and could be triggers for further upswings. Combine this with the upcoming releases for DeepOnion I am taking positions for a jump up. What are your views?
     

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