DeepOnion's 2nd Anniversary and Halving of Block Reward

By angelikip | The Best Way To Earn | 9 Jul 2019

On July 12th, 2019, DeepOnion will be celebrating its 2nd anniversary. It was only 2 years ago, on July 12th, 2017, that it was a brand new and promising anonymous cryptocurrency with an ambitious team of developers. In that amount of time, a lot of features have been released, some are currently in development, and more are planned for the future. July 12th, however, will not only mark DeepOnion's anniversary but it is also the estimated date that the PoW rewards will halve from 4 Onions to 2 Onions per block.

What does this mean for DeepOnion?

DeepOnion is a PoS/PoW hybrid coin, which means that it allows both the staking and mining of Onions. Halving the staking and mining rewards reduces the supply of coins, a part of which tends to get sold by miners and stakers as soon as they get their rewards, thus presenting a hurdle when it comes to the coin's price. It has already been observed that after the halving of DeepOnion's PoS rewards which occured on June 22nd the price rose (as shown in the chart from coinmarketcap).

A similar, if not more positive move can be expected in a few days, when the halving of PoW rewards will happen. Such a prediction is not based on thin air but on the basic law of supply and demand which states that when a product's supply gets reduced then there is a rise in that product's price.

Are There Any Plans for DeepOnion's 2nd Anniversary Celebration?

The DeepOnion team has announced that VoteCentral members will share a bigger reward for their tasks in a special airdrop that will happen on July 12th. There will also be a reward for some of DeepOnion forum's active members. Moreover, there is going to be a live event on July 12th, at 9 a.m. PST, hosted by Matt Taylor for anyone who wishes to watch, or ask questions about DeepOnion. During the live show there will be contests and giveaways of Onions too.