McAfee’s Crypto Exchange Is Launched In Beta
October 7, 2019 10:36 pm
John McAfee, American entrepreneur and vocal crypto advocate has launched a decentralized exchange (DEX) that runs on Ethereum (ETH) blockchain. The new platform’s official website and McAfee’s personal Twitter feed revealed that the platform is set to run in a beta release.
McAfee stated that the digital currency community faces the question of whether its aspirations are limited to expand the possibilities for pure speculation — “all about money” — or are about an ideal, namely freedom. After criticizing governments’ control over fiat currencies and the losses this presents to individual liberty.
“A distributed exchange can’t be shut down by anyone. Decentralized meaning that nobody controls it, distributed meaning that it is everywhere and therefore impossible to stop. We’ve had privacy coins, that’s the other part of this equation because privacy coins with decentralized, distributed exchanges is the goose that lays the golden egg for us. We don’t use it though.”
McAfee’s platform named DEX would not require Know Your Customer checks, block no jurisdictions and charge a single platform fee of 0.25% for takers. There are no processing fees and the platform will also reportedly be open-sourced. Any ETH-based token (ERC-20 standard) can be added without a fee to the beta version, with more unspecified tokens to be supported in the future.
In his recent video, McAfee mentioned a low number of traders currently using decentralized exchanges, considering that this makes them “useless.”
“Play with it, don’t expect miracles at first. Play with it until it becomes real.”