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John McAfee rolls out decentralized 'no restrictions' crypto exchange McAfee DEX in beta

NullSession from Bettendorf, Iowa, United States [CC BY-SA 2.0 (https://creativecommons.org/licenses/by-sa/2.0)]

Tue, 08 Oct 2019, 05:24 am UTC

Renowned cybersecurity expert and cryptocurrency enthusiast John McAfee has rolled out a decentralized exchange (DEX) running on the Ethereum blockchain.

As per an announcement, McAfee DEX, which requires “no name, no documents, no email, [and] no bank info,” will run in a beta release status as of Oct. 7. It will charge a single platform fee of 0.25% for takers, with no marker fees. The exchange will also be open-sourced.

Any and all ERC-20 tokens can be added without a fee, and more unspecified tokens are slated to be supported in the future.

McAfee introduced the new platform in a tweet on Oct. 5, stating that “it takes time for enough users to join to make it real, but if you play, and be patient,” the exchange can serve as “the door that frees us from Government’s cornerstone of control: Fiat currencies. It can’t be shut down.”

The software security expert also said McAfee DEX will give traders a chance to trade with freedom from government interference and with the ability to control their own finances.

This is the second trading platform launched by McAfee. In June, he rolled out McAfee Magic, which allows both manual and automated trading across several cryptocurrency exchanges “all at the same time and from the comfort of a single user interface.”

The earlier McAfee Magic reportedly uses Amazon Web Service (AWS) serves, which they can “scale on demand” and protects from distributed denial-of-service (DDoS) attacks.

McAfee also previously revealed its plan to launch a cryptocurrency called “McAfee Freedom Coin,” which will not be based on any commodity or connected to the value of behavior of any item or entity.

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