DeepOnion is a brand new PoW (mineable) and freely distributed coin to the community (through regular airdrops). After a period of secrecy and much anticipation all the details on DeepOnion was revealed to the public this evening. Since then the forum thread has taken a life of its own, and has quickly become one of the most popular forum threads this week on Bitcointalk. The news of DeepOnions is spreading like wildfire across social media as we speak.
What is DeepOnion?
It is a brand new coin that was released on the 12th of July. The developers have taken a unique approach to how they distribute the coin. 90% of the coin has already been mined, of which the vast majority will be used to distribute for free to people who join the free airdrops (more on how you can receive your free coins further down the article).
The development team’s focus is on creating as secure and anonymous transaction network as possible. To achieve that they are utilising the Tor network to connect up to. As a result your IP address is not registered anywhere when using DeepOnion. Instead of this an anonymous Tor network ID is created for you.
As your IP address is hidden it makes any payments/transactions that you make completely anonymous. Nothing can essentially be traced back to you.
The coin also boasts of extremely fast transaction times, much faster than Bitcoin (at the present time I have been unable to test this out just yet – but once I have, I will add this to the blog post).
How do I get DeepOnion coins?
There are two ways of getting DeepOnions;
- Either through their next 40 airdrops, which will be transferred free of charge directly into your DeepOnions Wallet or;
- You mine it
Roadmap – long-term plans for improvement
The coin will start trading on its first cryptocurrency exchange in the third quarter of 2017. Reading their roadmap it is clear the team is focusing on not only ensuring that the coin keeps on improving its technology (with high emphasis on security, speed of transaction and stability) but also on ensuring that they raise brand awareness to the general masses outside of the cryptocurrency community – as they reveal a high focus on marketing in their roadmap as well. This is bound to have a positive impact on the price of the coin, once it starts trading on exchange sites.
I have chosen to focus on and highlight the most important technological improvement to DeepOnion here below (that will be implemented over the next eight months).
- Release paper wallet and brain wallet in the third quarter of 2017.
- Launch of deepsend – which they describe as their next level in block-chain anonymity, so what this precisely is about, will be very interesting to see.
- Q4 – the free airdrops will be completed.
- 2018 first quarter – launch of mobile device wallets (iOS and Android).
- 2018 first quarter – Add feature allowing user to securely put any data into the DeepOnion blockchain
- 2018 second quarter – Supporting Smart contract – this one I am particularly keen on seeing, are they perhaps the next challengers to Ethereum?
- 2018 second quarter – Importing modern features and future advancement our blockchain technology
- 2018 second quarter – More Exchanges trade-able for ONIONs
- 2018 second quarter – More Shopping Sites accepting ONIONs
- 2018 second quarter – ONION accepted Games
- Further development suggest they will be taking feedback from the community in consideration for any future product development – which is highly encouraging to see.
How many coins will there be?
The developers stresses that the maximum number of coins will be 25 million and that the max supply would be reached in approximately ten years – in 2027. 18 million of the coins are already premined. The vast majority of the premine is intended for the free airdrops, available to anyone who follows the guidelines of how to claim the airdrops (more on how you can claim your free coins further down the post). 2 million coins will be mineable by the public via their X11 algorithm (I will explain in a separate follow-up blog how you can mine the coin the most effectively).
Who is the team behind?
This is less relevant than it is with most other projects, as the coin is mostly free to receive, and therefore limits your risk in acquiring the coin at the present time. It is also rather fitting that for a coin that emphasises complete anonymity as what makes them stand out, that the identity of the developers are unknown.
It is highlighted through their website and Bitcointalk thread that the team does consist of veterans in social media experts, search engine marketing experts (SEM) and block-chain developers – and is four man strong.
The team appear genuinely committed to wanting to continue to deliver product improvements to DeepOnion, especially when considering the level of detail they have included in their Bitcointalk post and on their website and their official roadmap.
How can I claim my free DeepOnions?
It is actually a really simply process and should not take you too long to do. Please do ensure that you follow each step here below and that you qualify for the free coin airdrops, as there are certain requirements in place to ensure that every person cannot create multiple accounts and thereby gain an unfair advantage.
- Your Bitcointalk.org profile must have been created before July 12th 2017, if it isn’t you won’t be eligible for this offer unfortunately and your next best bet is therefore to mine the DeepOnion or wait for it to become available across Exchange sites later in the third quarter this year.
- Update your Bitcointalk.org signature with the relevant DeepOnion designed message. Which one you need depends on your Bitcointalk.org membership status. Click here to select the right signature. You can find your Bitcointalk membership status by logging into the site, clicking on PROFILE in the menu selection above the forum. Your membership status will then be revealed on your account information page.
- Proceed to copy the relevant signature from DeepOnion found here.
- Go back to Bitcointalk.org and your Profile and now click on Forum Profile Information on the menu on the left-hand side.
- Insert the copied signature right into the Signature field you find here. Make sure you save your settings now.
- Download the relevant DeepOnion wallet.
- Windows Wallet:
- Linux Wallet:
- Mac wallet:
- The Mac wallet is not out yet.
- Wait for the wallet to sync. See the icons in the bottom right corner. This may take some time. The message below needs to appear first. You can proceed to the next step even before this has finished syncing.
- Copy your wallet address from the “Receive Coins” tab in the wallet you downloaded. Simply click it, right click it and select Copy.
- Go back to your Bitcointalk.org profile, select Forum Profile Information again. Scroll down until you find the Bitcoin address field and insert your copied DeepCoin address here. Make sure you save your settings.
- Find your Bitcointalk.org profile ID and copy it. Do this by going to your profile settings again, and on the left-side menu, click on Show Stats. In the URL bar, you will now see a 6 digit (sometimes more) followed after the u=XXXX, copy this number.
- Proceed to open the application form by clicking here. Fill in the form.
- You should now be registered for the free airdrop. Now all you need to do is wait with patience 🙂
Terms and Conditions apply! Read these carefully as otherwise you may lose your right for future airdrops (copied directly from the Bitcointalk forum post)
- One person can register using one account, if it is found that multiple accounts belong to the same person are registered, all these accounts will be banned from airdrop.
- You must put the DeepOnion promotion signature, and avatar (for full member and above) in your bitcointalk account, all the time during the airdrop promotion period. If for whatever reasons the signature removed during the period, that user account will be disqualified for future distributions (even you put them back).
- Junior member and above are eligible for applying, newbie is not qualified.
- All accounts registered after July 12, 2017 is not qualified.
- Negative trust account, stolen accounts are disqualified.
- Dev team has the rights to reject any accounts to participate with or without a reason (of course dev team will not abuse the right, but dev team has the final say on it)
- To avoid quick dumps, all accounts receiving distributions will need to keep 90% of the coins received on the account, during the whole distribution/airdrop period. Any move results greater than 10% of the airdropped coin on the account will disqualify the account from receiving more coins in the future distributions. Coins received from other means such as mining, bought from exchange etc are not limited and can be freely traded.
- To receive airdrop, bitcointalk account must be active account, and is required to post at least 10 valid posts per week with more than 100 characters in each post. Links and quotes are not counted as post content