Posted 2 years ago | by Ben Armstrong
Cybersecurity mogul John McAfee is so “sick and tired” of all of the rules and regulations associated with crypto that he is launching McAfee DEX. The controversial industrial figure describes McAfee DEX as a “completely decentralized cryptocurrency exchange that will run on the Ethereum blockchain.”
For McAfee, decentralized cryptocurrency platforms cannot be closed by anyone.
Decentralized platforms exist everywhere and cannot be controlled by a single party or government, meaning that the platforms are not subject to a regulator’s whim.
The digital innovator claims that the United States and other countries maintain control of the general population through centralised financial institutions, and therefore, both the governments and the banks can shut down at any moment, hurting the customers.
McAfee DEX is Here
The exchange, which opened October 8th in beta, will support ERC-20 tokens. Another feature, or rather lack thereof, is that the exchange does not require a name, documents, email or bank information.
McAfee, both a cybersecurity mogul and a presidential candidate, claims that for now, any Ethereum-based tokens “may be listed by anyone for free,” and has promised that nothing on the exchange will ever be monitored, recorded, or restricted.
Therefore, McAfee DEX is thus designed to give traders an opportunity to trade with freedom from government interference, taking control of their own finances at long last.
Initially, the DEX appeared to have a shaky start, according to McAfee, who insisted that the platform was the victim of a DDoS attack just after launch. This attack interfered with the speed, slowing everything to a crawl, but nodes were added, improving the platform performance.
McAfee has been an advocate for decentralized exchanges for a while, so it appears that it really was just a matter of time before he remedied the situation, creating a product that supports his views and helps fellow crypto traders.
“I love the negative adoration of my trolls,” he said. “They are proof I’m doing something right.”
McAfee DEX will join a number of other decentralized exchanges, which allow crypto users to swap tokens without losing control over their digital assets. While centralised crypto exchanges generally offer better liquidity, it is clear that decentralized exchanges are still being developed.