DeepOnion
ONIONPrivacy coin focuses on one thing the most and that is anonymity to protect the identity of their users. DeepOnion is a privacy coin with a twist to it, and that is the integration of the TOR network also known as The Onion Router. Through the creation of a payment platform that is untraceable, the DeepOnion protocol wants to provide security and privacy for users on the network. This prevents anybody from sniffing on your identity and transaction history.
As a community-driven project, DeepOnion is focused on building a vibrant DeepOnion community and getting them involved in the development process of the Onion crypto. In this DeepOnion review, we will examine what is DeepOnion blockchain and DeepOnion coin price prediction.
What is DeepOnion?
The DeepOnion protocol portrays its platform as an open-source and community-focused decentralized blockchain with a multi-layered privacy network suitable for daily usage. The protocol utilizes a hybrid protocol known as x13 hybrid PoW/PoS for network security. DeepOnion is said to be among the first cryptocurrencies to incorporate the TOR network.
Apart from integrating the TOR network, the platform also uses Obfs4, which is a public key obfuscation protocol. Using this key allows the DeepOnion protocol to hide message content protocol details making the traffic look random.
The Onion coin is the native token of the DeepOnion protocol and you can find it on several popular exchanges like Kucoin, Cryptotopia, etc., or exchange aggregators like Swapzone. There you will discover the current DeepOnion price in the market. The Onion coin has a DeepOnion coin wallet where you can store your coin.
The team behind DeepOnion
In line with its anonymity principle, those that created the DeepOnion coin have provided the option of remaining anonymous for team members. In fact, all members of the team go by codename instead of actual names.
The Uniqueness of ONION coin
10 million DeepOnion coins were pre-mine and every coin was given away free to the public with no ICO or anything similar. All coins were airdropped to the public into the DeepOnion coin wallet.
DeepOnion Blockchain
The DeepOnion blockchain was conceived on July 12, 2017, and the first DeepOnion coin wallet was created with the integration of the TOR network that provides protection for users by shielding their IP addresses. The Onion crypto wallet was later followed by the release of the DeepVault, which is for authentication and verification of any digital file or the wallet itself.
DeepVault
DeepVault is a part of the features of the DeepOnion Blockchain, which is basically a secured vault for information based on the blockchain. The protocol provides file validation credentials through the blockchain network.
VoteCentral
It is another feature of the DeepOnion blockchain that allows the DeepOnion community to participate in the development of the protocol. Through VoteCentral, the DeepOnion community continues to be rewarded for its effort towards growing the platform.
DeepSend
This is an additional feature of the Onion crypto wallet. It allows users to track the flow of the coin across the DeepOnion blockchain network. With DeepSend users can transfer funds securely without fearing the funds being hijacked. Additionally, you can carry out private transactions as DeepSend makes payment untraceable giving you utmost anonymity.
ONION coin
On October 5, 2021, Onion crypto has a verified circulating supply of 22,569,416.06 coins for Pow/PoS mining. The circulating supply was at 22,374,207 coins on December 5, 2020. As mentioned earlier, DeepOnion uses the x13 algorithm for PoW and combines PoW and PoS.
The total supply of ONION coins is going to be about 25 million coins after ten years and out of these 25 million, 20 million ONION cryptos will be mined by PoW. Out of the 20 million, 18 million were already pre-mined at the genesis block and they were airdropped to the DeepOnion community freely. The remaining coins will be mined by the public until it reaches the maximum supply of ONION coins.
For PoW mining, there is a 240 seconds block target and mining difficulty is recalculated for every block. The initial block reward is 8 ONION coins and the rewards are halved every 365 days.
For PoS mining, it has 50 blocks confirmations and a 60-second block target with difficulty recalculation for every block. The reward for PoS mining varies each year and the reward is also halved every year too just like PoW mining. The halving event is as follows:
- Tne the first year -10%
- The second-year -5%
- The third year and every year that follows -1%
- Your coins start to mature after staking after a minimum of 24 hrs with 30 days the maximum time for staking.
DeepOnion Community
The DeepOnion community is 14000 members strong and includes crypto enthusiasts and developers. The DeepOnion airdrop played a part in the community’s growth as the 40-week public airdrop drew several users to the platform. Over the course of the airdrop, over 6000 unique wallets got free ONION coins and on the last day, 900 users were vying for the airdrop. Many talented developers were attracted and a blooming community was born to support the growth of the DeepOnion project.
DeepOnion Wallet
The DeepOnion wallet is anonymous and secure as it shields your IP via the TOR network changing your IP into something like this “b4gr62suibqkotf9ld59uh3azvxm.onion”. You don’t have to pay any fee to shield your address. You also enjoy the DeepSend feature, which we have discussed before when you use the DeepOnion coin wallet. The wallet offers speed and security with transactions confirmed in no more than 48 seconds. Additionally, the wallet is placed under code modernization to keep it prepared for future upgrades or expansion.
DeepOnion coin price prediction
According to Walletinvestor, the DeepOnion coin is an outstanding long-term investment. The ONION coin is expected to increase in value with the DeepOnion price predicted to reach $0.288 in just a year. That gives investors an earning potential of +49.70% in just a year. By 2026, the DeepOnion price could reach $0.591.
How to exchange Bitcoin to DeepOnion?
You can exchange BTC to ONION on Swapzone, which is a BTC to ONION exchange aggregator for the best DeepOnion price in the market. Before you proceed to select the DeepOnion coin exchange you want, ensure you know the exact amount of Onion tokens you want to buy. Here’s the step-by-step guide on buying your ONION on Swapzone:
- Select Bitcoin to Onion pairing from the list of tokens on Swapzone front page and the site will pull up from all the ONION coin exchanges.
- After selecting your desired pairing and choosing the deal that you are satisfied with, go ahead and use Swapzone to convert your BTC to ONION by clicking on the “exchange” button.
- Input the wallet address where you want to receive the ONION crypto.
- There is also an option for a refund address, which is the address where the BTC coins you are swapping will be refunded to.
- Once done, you click on the “proceed the exchange” button to carry out the exchange.
- Wait for the service to carry out the exchange for you.
- When you received your coins, please, take your time to leave a review and rate the exchange partner.
Frequently asked questions
What is the DeepOnion exchange rate?
An exchange rate is the rate at which one cryptocurrency can be exchanged for another through a certain crypto exchange provider. Cryptocurrency exchange rates on Swapzone reflect current prices of crypto assets and are updated every 30 seconds for you to keep track of any market changes and fluctuations to profit when buying the dip or going with the best exchange rate and the lowest exchange fees. All cryptocurrency exchange providers have their own rates, which depends on supply and demand, mining rewards, costs and so on. See what else might affect the rate in our article on prices.
There are two types of exchange rates aggregated by Swapzone – fixed rates and floating rates. To receive the exact amount of crypto that is displayed at the beginning of the exchange and shield yourself against the market's volatility, opt for fixed-rate offers. If you're ready to take a risk and receive less or more than the sum displayed, go with floating-rate offers but bear in mind that floating rates may drastically change any second. You can refresh your memory on how to get the best exchange rate here.
Where to find the lowest transaction fees?
Crypto transaction fees may vary depending on the network (Ethereum transaction fees tend to spike during the congestion on the network), your chosen cryptocurrency, an instant exchange provider as well as its transaction processing speed and internal policy. These fees may be relatively low but it’s crucial to know they may be imposed in the first place.
If you want to exchange cryptocurrency with the lowest fees, beware of the offers with a grey-colored “Transaction fees are not included” label displayed under the exchange rate. To avoid having to pay an unexpected amount of fees during the exchange, opt for those that do not have that label. Read our articles to learn more about how to exchange cryptocurrency with the lowest fees and find out which assets have the lowest transaction fees.
What is average transaction time?
Transactions usually take from 5 to 30 minutes to be processed, especially if you choose currencies with speedy networks. However, there are several factors that may affect and slow down the exchange process, i.e. transaction volume, blockchain capacity, network updates, cryptocurrency itself and the capacity or chosen exchange platforms.
The processing may take longer due to the large transaction volume, congestion of the network, blockchain overload and market overload, technical issues or system failures, lack of liquidity or network maintenance.
The transaction may be also stuck if you forget to add a required Extra ID, mistake networks or use the wrong wallet for a chosen crypto asset. If you worry that the exchange processing is taking too long, please, contact us at [email protected] or via our live chat on the landing page.
How to choose a cryptocurrency wallet to store DeepOnion?
To exchange, buy, sell or trade cryptocurrency and store your crypto keys safely and securely, you need a crypto wallet. Choosing the best cryptocurrency wallet is a question of preference and need. To learn more, read our guide on how to choose the best cryptocurrency wallet for your needs.
There are several types of wallets for different crypto assets and tasks. Software wallets, or hot storage wallets, are connected to the Internet and come in many forms: Web, Desktop, Mobile or Browser Extensions. If you want to build a large crypto portfolio, you might want to look at multi currency wallets like Exodus, MetaMask, TrustWallet, Atomic or Guarda. If a coin or a token of your choice isn’t available there, you can always opt for a single-currency wallet that is usually designed by the project that launched the asset.
If you take safety and security matters seriously, go for hardware wallets, or cold storage wallets, like Ledger or Trezor, or even paper wallets. We strongly recommend you to do your research before creating a wallet: read the reviews to see what the community thinks, learn about the fees a particular wallet imposes for performing transactions, check out supported currencies and networks and see its security policy.
What is the best cryptocurrency exchange for beginners?
There are loads of different crypto exchange services, with new platforms emerging every month. Exchange providers differ by supported currencies, liquidity providers, fees, customer support, user interface, level of privacy and anonymity and customer support, which makes it hard for beginners to understand which one to choose. To learn more about what these exchanges offer and how you can assess them, read our guide on how to choose the best exchange platform.
To navigate them through the field full of services, we conduct research and thorough analysis of the market & list both prominent and promising exchange providers, keeping in touch with their teams 24/7. We give you all the necessary data on the offers they provide as well as their brief history, KYC/AML policies, reliability and advantages, while also indicating their downsides so that you don’t have to do that yourself.
What is Swapzone?
Swapzone is an instant non-custodial cryptocurrency exchange aggregator that helps users make an informed choice when exchanging crypto assets. To make this possible, we gather the information on the exchange providers, select the parameters for comparison, aggregate and sort available deals & give an option to make a swap through providers' APIs in the same interface with a common user flow for every exchange. Still have doubts? Here's 9 reasons why you should use Swapzone to exchange crypto.
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