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.
.https://t.co/1vUQ6AHHyE— John McAfee (@officialmcafee) October 6, 2019
Decentralized. Distributed. Open source.
No listing fees. No personal information. 0.25% taker fees. No maker fees. No deposits. Smart contract assurance - trustless. All Ethernet based tokens. EOS, Neo, and more coming soon. How did we do it? pic.twitter.com/AN8TZ02UAO
'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 McAfee Distributed Dex beta version is coming 10/7. Play with it. It takes time for enough users to join to make it real, but if you play, and be patient, you will see it's the door that frees us from Government's cornerstone of control: Fiat currencies. It can't be shut down pic.twitter.com/W3XCExspQT— John McAfee (@officialmcafee) October 5, 2019
The platform will initially trade only Ethereum-based tokens, but McAfee said he expected more would be added soon.