DeepOnion
Crypto Overview
Overview
DeepOnion is a privacy-focused cryptocurrency launched in 2017 that operates on both the Bitcoin and Tor networks. It aims to provide anonymous and secure transactions using various privacy-enhancing technologies.
Purpose and Utility
The primary stated purpose of DeepOnion is to serve as a privacy-focused medium of exchange. It incorporates features like DeepSend for private transactions and X13 mining algorithm for security. The project also includes a DeepOnion wallet with built-in Tor integration.
Business Model Evaluation
The core utility focuses on privacy-preserving transactions, which is a legitimate use case in Islamic finance as privacy and security in financial matters are permissible goals. The project does not inherently involve any prohibited activities like gambling or interest-based lending.
Real-World Adoption
Current usage appears primarily focused on trading and private transactions. While adoption remains limited, the project maintains active development and community engagement through its official channels.
Platform Development
The project shows ongoing development activity, with regular updates to its core protocol and wallet software. The team maintains transparency through public GitHub repositories and community updates.
Token Distribution
The token distribution appears relatively decentralized, with no indication of excessive founder allocation. Mining rewards are distributed based on proof-of-work consensus, which aligns with halal principles of fair value exchange.
Crypto Impact
To assign a comfort level investing in DeepOnion from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to DeepOnion.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.