There is More than One Layer to this Onion: Why I Hodl DeepOnion

IIn January 2014, something happened that sent shockwaves through the cryptocurrency community; that is the announcement of Ethereum and its Turing-complete contract scripting system or smart contract framework. Most people are most familiar with smart contracts in the form they are most likely to encounter them, even if they dont realize its happening. For instance, Initial Coin Offerings, or ICO's, are commonly carried out via smart contracts because it is simple to distribute digital assets over the blockchain.

That's great, but is a smart contract? Smart contracts are decentralized applications, or dApps, which allow for the automatic transfer of digital assets between wallets based upon pre-specified conditions. Currently, smart contracts are still in their early development and many task cannot be performed yet. However, simple tasks can be carried out with smart contracts such as the classic "A if B" scenario. A developer for example can have a smart contract written that specifies something along the lines of "send 100 tokens to Jill on 11/21/2017 if Jill's wallet contains more than 1000 tokens on 11/20/2017".

So what does this have to do with DeepOnion? Well, DeepOnion has formally announced that it will be developing its own smart contract platform in the second quarter of 2018 and if history is any indicator of what the future holds then DeepOnion will not only deliver on it's roadmap but it will exceed expectations just as it did with the DeepVault feature it recently released. Check out the following infographic for an introduction to DeepVault.

But Hous26, there are other smart contract platforms already in existence, how is DeepOnion any different? Tor-Network. DeepOnion is operates on the TOR-Network which means it is totally anonymous! Transactions of Onions are private and your IP address isn't shared on the network. With all of the news coming out in recent months concerning governments cracking down on ICO's and cryptocurrencies as a whole, its easy to see why merging the functionalist of smart contracts with the privacy of the TOR-Network is a really big deal.

The possibilities are endless as ICO's can become both trustless and private. Additionally, other projects can be built upon the DeepOnion platform in a similar fashion to how they are currently being built on the Ethereum, WAVES, NEO, NEM and UBIQ platforms. Only the future will tell whether DeepOnion's smart contract protocol will reach its full potential. One thing is for sure though, the next year or so will be interesting.

To learn more about DeepOnion and it's airdrop that pays out 7% weekly visit: https://deeponion.org/?ref=1077972

-hous26