John McAfee launches his own decentralized exchange
John McAfee Launches New Decentralized Exchange
The main page of the McAfee website provides information that any ERC-20 standard token, that is, built on the Ethereum blockchain, can be added to the exchange`s listing instantly and for free. It is assumed that over time, after the platform is finalized, it will be possible to add tokens created on top of other blockchains to the exchange.
McAfee is not going to introduce KYC and any territorial restrictions on the platform. With regard to fees, the policy is absolutely transparent: in addition to a single trading fee of 0.25%, no others are expected on the site.
Platform Features and Community Reaction
We have to make a decision in the crypto community whether this is all about money or it’s about money and something far more important – our personal freedom. As long as an entity controls the currency that you use […] you are not free. We have in crypto the promise and the possibility of freedom of that control if we do this properly. Centralized exchanges are our week point. China shut down all the exchanges in China 2 years ago. Decentralized exchanges are our escape. Decentralized exchanges can’t be shut down.
In his tweet on October 5, where he announced the exchange`s opening, McAfee stressed that the platform users need to be patient before it can demonstrate significant trading volumes. According to him, they shouldn`t be “expecting miracles at first” but over time, decentralized exchanges will become “the door” that will free everybody from “the Government’s cornerstone of control: Fiat currencies”.
McAfee does not specify how the issue of combating fraud and other threats will be resolved at McAfeeDEX. However, we hope that the cybersecurity pioneer has paid enough attention to this matter.
The Future of Decentralized Trading
To date, the share of decentralized exchanges in the cryptocurrency market is quite small: a survey conducted in early 2019 that appealed to more than 400 exchanges, showed that trading volumes on decentralized platforms were only 1% of the volumes demonstrated by centralized ones.
Nevertheless, the direction of decentralized exchange trading remains promising in the eyes of the cryptocurrency world entrepreneurs. In April 2019, one of the largest crypto exchanges Binance launched its own DEX, and such giants as OKEx and Bithumb have announced a similar intention as well.
Похожие новости
