the text below prepared by mod team for new coming DeepSend press release
Feel free to contribute to the text
What is DeepOnion DeepSend?
DeepSend was developed by DeepOnion and is a new blockchain privacy feature used to establish an anonymous link between the sender and the receiver of a transaction. The DeepOnion development team has put in a substantial amount of work on our flagship privacy feature.
The best part is there is no encryption, no cryptography, and no mixing pool required. Instead, 2-of-3 multi-sig addresses will be used.
What are a 2-of-3 multi-sig addresses ?
A 2-of-3 multi-sig address is when 2 signatures are sufficient to access the funds of a 3-signature address.
Below is an example of how a 2-of-3 multi-sig address works.
A user creates a 2-of-3 multi-sig address and stores each private key in a different location and device. If this user was to lose or get a device stolen, there is no way a thief could access the funds by using only 1 of the private keys. A phishing or hacking attack would also not be possible because if a laptop is compromised they would have access to only 1 single device and private key.
How does multi-sig work?
You can check the image below to see how a DeepSend transfer happens:
When a sender sends a coin using DeepSend it will use a randomly selected wallet hidden behind the Tor® anonymity network.
Tor network is a well-known privacy tool and a top standard for privacy seekers in the world.
The developers of DeepOnion insisted on starting with a solid privacy foundation to support future additions to the DeepOnion privacy ecosystem.
