After a full day of pitching and warming up, John McAfee has finally launched his decentralized exchange, McAfeedex.com. The launch, scheduled for Monday at 5:00 GMT, is a beta version for the exchange.
And back in the summer, computer programmer, businessman, entrepreneur and U.S. presidential candidate John McAfee revealed his idea for a digital currency access point that would combine manual and bot trading into one interface. decentralized exchange.
Dubbed McAfee Magic, the new project connects people to more than 500 digital currencies, and it has attracted 11,743 users so far.
It is understood that the new projects website only shows a preview of future McAfee deals. But we can see that it will provide free trading services for ETH-based tokens and charge 0.25% fees, so the DEX promises low fees and no complicated compliance procedures, and the website says that people in every country can Participate in transactions.
We know that decentralized exchanges on the Ethereum network are relatively small, IDEX attracted 443 users on October 7th, while ForkDelta had 344 users. The daily trading volume also does not exceed $200,000. Binance DEX is the largest decentralized exchange business running on Binance Chain, with a daily transaction volume of more than $1.3 million.
McAfees approach has the unique advantage of providing a creation or DEX copy of the portal, as well as an access point to the smart contract. In this way, the DEX would theoretically be accessible from multiple hosts and multiple locations, thus requiring no censorship.
As McAfee puts it, transaction details are private, there is no surveillance, there is no transaction history, and there are no restrictions.
However, with tougher regulations on the horizon, its anyones guess how long the exchange will be able to survive. Even IDEX has established a KYC process, and EtherDelta was fined $400,000 for unauthorized crypto trading services. KYC procedures may be inevitable in the future, as even the adoption of individual tokens may be scrutinized.
Also, this is not McAfee’s first blockchain project when it comes to building the DEX. To much credit, he launched the McAfee Magic non-custodial exchange. The exchange claims to use bot activity and is powered by ARB tokens. However McAfee Magic Exchange is not listed among the recognized market operators.
McAfee also plans to launch the McAfeeFreedom Coin in the fall of 2019, but there is no information on the movement of the related token and when it will be developed or traded.
The original text comes from coinspeaker and bitcoinist, compiled by the Bluemountain Labs team, the English copyright belongs to the original author, please contact the editor for Chinese reprint.
