John McAfee’s Decentralized Crypto Exchange Launches in Beta
American entrepreneur and vocal crypto urge John McAfee has established a decentralized market (DEX) running on the Ethereum (ETH) blockchain.
McAfee DEX is set to operate in a beta release status as of Oct. 7, according to the new platform’s official site and McAfee’s personal Twitter feed.
“Centralized imports are our weak point”
On Oct. 5, McAfee’s tweet introduced the new stage, saying that”it takes some time for enough users to combine to make it real, but if you playwith, and be patient,” the exchange can function as”the doorway that frees us from Government’s cornerstone of management: Fiat monies. It can not be shut down”
In an embedded video, McAfee asserts the cryptocurrency community faces the question of whether its aspirations are confined to only expanding the chances of pure speculation –“all about money” — or so are about the perfect, namely liberty.
After denouncing governments’ control within fiat currencies and the losses this introduces to individual freedom, McAfee turned into the crypto area:”centralized exchanges are our weak point,” he said, pointing to China’s move to shutter domestic trades in September 2017.
According to the details released so far, McAfee DEX allegedly will necessitate no Know Your Client evaluations, block no jurisdictions and charge a single platform fee of 0.25% for takers.
Any ETH-based token (ERC-20 standard) can be inserted with no charge into the beta version, using more unspecified tokens to be encouraged later on.
“Do not expect miracles”
In his Oct. 5 video, McAfee pointed to the very low number of traders now using decentralized trades, considering this makes them”useless.” For his DEX, McAfee urged users
As previously mentioned, non-custodial decentralized crypto exchanges enable users to exchange peer-to-peer, using smart contracts to automate deal matching and asset liquidation so as to allow users’ funds to stay under their management.
As of January 2019, a survey of over 400 international crypto exchanges suggested that decentralized systems accounted for only 19 percent of the global exchange ecosystem, and their trading volumes amounted to less than 1% of those on centralized exchanges.
This April, leading centralized exchange Binance launched its own DEX on its native mainnet. Other significant exchanges eyeing their own DEX comprise OKEx and Bithumb.
Source – Griffex
Griffex is a marketplace for smart sale and purchase of cryptocurrencies, a flexible trading platform presenting an opportunity for seasoned investors, retail traders, and cryptocurrency enthusiasts at managing multi-currency investment portfolio. Griffex adore the flexibility of trading with multiple cryptocurrencies, the sensational charm in new-age commerce and financing that has attracted millions towards this revolutionary mannerism of investing. Griffex is a rapidly growing number of initial coin offerings (ICO) has led to more than 2000 new cryptocurrencies