In this modern world full of different medium of illicit and illegal activity, any sane human would not want to trade his or her privacy for anything. This has put the spotlight on any privacy and anonymity oriented coin, and in turn made it a pervasive and contentious topic to talk about.
Any freedom loving individual would applaud and celebrate these new developments as an unprecedented evolution of not only technology but uncompromised financial freedom.
So why do we even need privacy?
Bitcoin utilizes cryptography to disguise identities and has a transparent public ledger. On one hand, this is an amazing construct but we need to consider the implications. Public wallets are viewable by anyone and include not only the balance of the wallet but also how much money has been received and paid out (including the public wallet addresses of senders and receivers).
Sure, this might be great for a non-profit or other publicly transparent entity…but do we really want anyone and everyone to see what we have and who we send to?
Businesses may have trade secrets or a list of clients and suppliers they want hidden. As a user, a safety concern arises as hackers could easily find and target large holders.
Privacy coins look to solve this problem and reduce the risk of potential attack, they help to give users a degree of anonymity in a robust and decentralised way. And there are lots of them out there willing to tackle this case, but with a sincere mind devoid of sentiments, I've decided to talk about only the best which is Deeponion.
Why Deeponion?
Deep onion is an anonymous cryptocurrency that implements proof of stake (PoS) and the x13 proof of work (PoW) algorithm. DeepOnion uses the TOR (The onion router) network ensuring that all peer to-peer connections are secure and anonymous. DeepOnion’s primary purpose is to protect an individual’s identity and privacy by creating an anonymous, secure, scalable, instantaneous and untraceable payment platform. Introduced mid 2017, and has been making waves, and on the way to becoming the best privacy coin the crypto would ever see.
It is built around the TOR network, a circuit-based low-latency anonymous communication service. This makes it very difficult to ascertain the users identities, and could even be assisted by virtual private network (VPN) that makes it nearly impossible to access or trace anything on the TOR network.
In short time, Deeponion also plan to introduce Zero knowledge proofs (protocol layer) that will hide the onion origins to all but the sender, but provide a non sensitive evidence of the transaction.
Deep send that will use multi signature techniques in order to hide transactions will also be introduced to further strengthen the goal of safe and secured transactions.
I'm dead sure as time goes on, there will be more key developments that will malign with this vision of giving freedom to users. I regard Deeponion as the best, not just on a personal preference, but on actual and key developments they're bringing to the crypto industry.
Your freedom is your right, go claim it with Deeponion.
