John McAfee Launches Decentralized Distributed Crypto Exchange

Neil Dennis

John McAfee, the U.S. security software entrepreneur and cryptocurrency enthusiast, announced he had launched a decentralized crypto exchange on the Ethereum blockchain.

Announced on Twitter and the platform's official website, McAfee DEX beta version was launched on Monday, October 7. A so-called "distributed exchange", McAfee DEX is run through portals - exact copies of its website, running on different hosts and managed by different people or organizations.

'Impossible to Stop'

In the embedded video, McAfee said that DEX - for a fee of $395 - sends a software package, then portal managers can collect 0.05% of all buy transactions entering through that particular host.

In a Twitter post on October 5 that heralded Monday's announcement, McAfee explained that centralized exchanges were the industry's weak point, but that a decentralized, distributed exchange "can't be shut down by anyone". He added:

Decentralized meaning that nobody controls it, distributed meaning that it is everywhere and therefore impossible to stop.

The platform will initially trade only Ethereum-based tokens, but McAfee said he expected more would be added soon.

 

Featured image by Gage Skidmore, Flickr, CC by 2.0