DeepOnion - Whitepaper: A Sneak Peak!

Welcome to 2018 Onioners! Last year was a defining year for us in the DeepOnion community and I’m happy we all made it through with our community achieving unprecedented growth. This year, it can only get better as we look forward to incoming features and more defining events that will push DeepOnion through the roof.  

Release of the DeepOnion white paper is a huge milestone which is being awaited. We are obviously at the tail end of our wait for this. The white paper is currently nearing its completion phase and will be released sooner than we all expected. The recent efforts of the development team have been towards creating a white paper that will refine the image and pitch the potentials of DeepOnion to both individual and institutional investors. This definitely takes time and the time is taken to ensure that the right things are done, leaving no loopholes.  

It is an open secret that crypto-investors often turn to white papers to gain in-depth knowledge about a digital asset before joining the train. This vital document must explain the architecture of the underlying technology in clear terms as well as its deployment. It must also dwell on the financial details, key features and the execution roadmap of the project in question, which in this case is DeepOnion.  

Judging by standard best practices and few hints which made the rounds recently, here is a sneak peek into what you might expect to find in the white paper when released:  

Details about the Purpose, Blockchain Architecture and DeepOnion Features  

The rationale behind the invention of DeepOnion is hinged on security challenges brought about by lack of privacy of blockchain-based transactions coupled with high transaction fees and longer transaction times. This led to nefarious elements having a field day invading the privacy of crypto-users and sometimes carting away their digital assets. As would be expected, the incoming white paper will highlight the DeepOnion product, bringing to fore the intricacies behind its privacy status which is based on the TOR anonymity network. It will also highlight its architecture which consists of a hybrid of Proof of Stake (PoS) and Proof of Work (PoW) algorithms. These features which are the key strengths of DeepOnion will be discussed in clear terms alongside other features. Tops among the other features expected to be mentioned will be DeepVault, Vote Central and the soon coming DeepSend.  

Details about Oncoming Features  

Several other oncoming features are also expected to be discussed. This will be in a bid to give potential investors a clearer picture of what DeepOnion stands for. Members of the community are familiar with the functional wallet-based DeepVault feature which enables file authenticity verification. A web version of this amazing tool is set to be made available this year. The white paper will be expected to give more insights pertaining to this. Apart from DeepSend and the soon to be implemented DeepOnion smart contracts, if there is any other feature to look out for in 2018, then it is definitely DeepOnion’s mobile wallet. This addition will enable on-the-go transactions and function on both iOS and Android devices. Its development is in top gear and the white paper is expected to say more about this. Also, it is clear the development team has a lot in store for DeepOnion; hints to all these are expected in relation to plans for future improvement.  

Market Value and other Financial Details  

Value is the key factor for a cryptocoin to do well in the market. Investors will certainly be looking out for this in DeepOnion’s white paper. Going down memory lane, DeepOnion was first listed on Nova Exchange after which its market capitalization soared by over 450% within the first week of listing. Ever since then, DeepOnion have displayed tremendous potentials. This continued after the indication of Nova Exchange’s closure prompted its listing on cryptopia. At the time of writing this piece, an Onion trades at $6.7 with a market capitalization of $31.7million and a circulating supply of over 4million Onions. The price at this point represents a 41.6% growth over a 7day period according to digitalcoinprice.    

Considering the value a bit further, huge efforts have gone into ensuring that DeepOnion can be exchanged for physical goods. One of such efforts is the DeepOnion.shop as well as ongoing plans to create plugins for DeepOnion that will function on e-commerce platforms like WooCommerce and the likes. With major influencers in the cryptospace like John McAfee showing interest in reviewing the white paper when released, one can only expect the document to impress in communicating the value of DeepOnion.  

A word or two about the Active Community  

Another factor crypto-investors often look out for is an active community of users. DeepOnion have obviously grown in leaps and bounds in this regard. The large community of Onioners has been at the forefront of the DeepOnion campaign right from the beginning. It is quite amazing how members of the community contribute in different ways to support the DeepOnion vision. Typical examples of projects spearheaded by members of the community are the new website and incoming mobile wallets. The huge trust vested in DeepOnion will make it a difficult task for anyone to wave DeepOnion aside. The Vote Central further enables the community to influence decisions pertaining to DeepOnion’s future.  

The white paper is also expected to dwell on the mode of coin distribution which of course is the airdrop as well as its entire allocation.  

While we can expect to have all these on the white paper, surprises can also be expected. A fellow asked me a few days ago whether I knew if details about the team will also be included; at this point, we can only hope and wait to see what the white paper will contain. However, it is certain the document will be of high level and mind blowing. This is a milestone we all look up to and the development team is working hard to get it right.  

By releasing a white paper, DeepOnion will be following after the foot prints of bigger projects that have gone ahead in the cryptospace. A good example is the Ethereum. Given the importance of this vital document, one can expect more attention to be focused on DeepOnion in coming days after the release. This will also present a huge opportunity for the Onions to blow off the roof and reach for the moon. Hopefully, the whales might be arriving anytime soon after the release while fuders and skeptics would also begin to have a rethink.