ETH blockchain based decentralised exchange

[CryptoInsights]

I was reading a article published by cointelegraph and read that:

McAfee DEX is set to run in a beta release status as of Oct. 7

McAfee DEX beta: the details
According to the details released so far, McAfee DEX reportedly will entail no Know Your Customer checks, block no jurisdictions and charge a single platform fee of 0.25% for takers. It will not charge maker fees and will also reportedly be open sourced.

Here is the article: https://cointelegraph.com/news/john-mcafees-decentralized-crypto-exchange-launches-in-beta

This means if someone hacks my funds and trades through this exchange whom to I ask?

I have not used much distributed exchanges but this statement was scary. Previous I had the experience where my funds were hacked and this statement opened up my wounds.

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[funchiestz]

I was reading a article published by cointelegraph and read that:

McAfee DEX is set to run in a beta release status as of Oct. 7

McAfee DEX beta: the details
According to the details released so far, McAfee DEX reportedly will entail no Know Your Customer checks, block no jurisdictions and charge a single platform fee of 0.25% for takers. It will not charge maker fees and will also reportedly be open sourced.

Here is the article: https://cointelegraph.com/news/john-mcafees-decentralized-crypto-exchange-launches-in-beta

This means if someone hacks my funds and trades through this exchange whom to I ask?

I have not used much distributed exchanges but this statement was scary. Previous I had the experience where my funds were hacked and this statement opened up my wounds.

Distributed exchange? You mean decentralized exchange? I guess so.
I think you should know what is the point of DEX?
DEX provide to better and more suit trading for decentralized blokchain networks. When you make any trade, currencies goes both wallet automatically. And all trade process, signed with blockchain. There is no such thing in CEX.

[timmmers]

A really good choice to name a decentralized exchange - McAfee.  

Do you still believe that such exchanges could really become decentralized? Like Binance DEX? Binance owns more than 60% of voting power, so are we still talking about decentralization?

[CryptoInsights]

I was reading a article published by cointelegraph and read that:

McAfee DEX is set to run in a beta release status as of Oct. 7

McAfee DEX beta: the details
According to the details released so far, McAfee DEX reportedly will entail no Know Your Customer checks, block no jurisdictions and charge a single platform fee of 0.25% for takers. It will not charge maker fees and will also reportedly be open sourced.

Here is the article: https://cointelegraph.com/news/john-mcafees-decentralized-crypto-exchange-launches-in-beta

This means if someone hacks my funds and trades through this exchange whom to I ask?

I have not used much distributed exchanges but this statement was scary. Previous I had the experience where my funds were hacked and this statement opened up my wounds.

Distributed exchange? You mean decentralized exchange? I guess so.
I think you should know what is the point of DEX?
DEX provide to better and more suit trading for decentralized blokchain networks. When you make any trade, currencies goes both wallet automatically. And all trade process, signed with blockchain. There is no such thing in CEX.

This is both distributed and decentralised

Please check these lines from the article: https://cointelegraph.com/news/john-mcafees-decentralized-crypto-exchange-launches-in-beta

McAfee continued:

“A distributed exchange can’t be shut down by anyone. Decentralized meaning that nobody controls it, distributed meaning that it is everywhere and therefore impossible to stop. We’ve had privacy coins, that’s the other part of this equation, because privacy coins with decentralized, distributed exchanges is the goose that lays the golden egg for us. We don’t use it though.”

[hashman]

I also read about the new exchange based on ETH. McAfee was not active at crypto for a while. All crypto lovers who entered the crypto market before 2018 knows that McAfee is just a showman at crypto. At the end of December and first quarter of 2018 he tried to pump shitcoins. He was very successful at first tries. Than people understand that he is just a scammer and trying to pump shitcoins. I do not think so experienced traders trust him and use his exchange for any reason.

[CryptoInsights]

A really good choice to name a decentralized exchange - McAfee.  

Do you still believe that such exchanges could really become decentralized? Like Binance DEX? Binance owns more than 60% of voting power, so are we still talking about decentralization?

I agree with your though and also, the common question again why are there so many exchanges with same feature list? What makes the exchange stand out of the crowd if there is not such extraordinary feature then, why?

[Javi_Anibarro]

I agree with your though and also, the common question again why are there so many exchanges with same feature list? What makes the exchange stand out of the crowd if there is not such extraordinary feature then, why?

Why many exchanges have the same feature list because most of them did not truly want to become a decentralized exchange, they wanted to use DEX name to gain popularity nothing more than that. About the other question, it is all about their reputation. Just like Binance, everybody already knew about their voting system but they said nothing because Binance is the biggest exchange in the world.

have you tried Bisq before? if you have tried it, you will know what is the true DEX is. A DEX is not about security but it is all about peer-to-peer if you lose your asset that means that is your problem. The platform gives you a place to trade not to guarantee your asset.

[republicrypto]

I was reading a article published by cointelegraph and read that:

McAfee DEX is set to run in a beta release status as of Oct. 7

McAfee DEX beta: the details
According to the details released so far, McAfee DEX reportedly will entail no Know Your Customer checks, block no jurisdictions and charge a single platform fee of 0.25% for takers. It will not charge maker fees and will also reportedly be open sourced.

Here is the article: https://cointelegraph.com/news/john-mcafees-decentralized-crypto-exchange-launches-in-beta

This means if someone hacks my funds and trades through this exchange whom to I ask?

I have not used much distributed exchanges but this statement was scary. Previous I had the experience where my funds were hacked and this statement opened up my wounds.

wow,McAfee create his own DEX, 
and this dex is based on ethereum blockchain,
my big hope, this guy will serious with his own Dex Project
not like the past, just promote and go
regards

[magneto]

I was reading a article published by cointelegraph and read that:

McAfee DEX is set to run in a beta release status as of Oct. 7

McAfee DEX beta: the details
According to the details released so far, McAfee DEX reportedly will entail no Know Your Customer checks, block no jurisdictions and charge a single platform fee of 0.25% for takers. It will not charge maker fees and will also reportedly be open sourced.

Here is the article: https://cointelegraph.com/news/john-mcafees-decentralized-crypto-exchange-launches-in-beta

This means if someone hacks my funds and trades through this exchange whom to I ask?

I have not used much distributed exchanges but this statement was scary. Previous I had the experience where my funds were hacked and this statement opened up my wounds.

Who do you ask? No one.

The entire point of a DEX is taking both the authority of a third party having control over your funds away from them, unlike in a traditional exchange where the counterparty risk of the exchange is always present.

If you get hacked, then there is basically no recourse. It's your responsibility to protect your own private keys, and other cryptographic info that can lead to your funds being spent.

Also, I'd suggest not getting too into McAfee's claims. His track record is unproven and his project will likely get persecuted by governments worldwide without KYC.

[Coin_trader]

This means if someone hacks my funds and trades through this exchange whom to I ask?

I have not used much distributed exchanges but this statement was scary. Previous I had the experience where my funds were hacked and this statement opened up my wounds.

If someone hacks your fund on DEX. It's either your fault since hacker has access on your private key or directly blame McAfee because he is the owner of dex which possibly leaks your private key.
As DEX is designed to trade on an exchange that you own the private key of the wallet itself. Unlike a centralized exchange, DEX allow you to directly import your private key the exchange.
Only few cases that report hack on DEX and most of the report is the result of the phishing attack the user itself. You better check carefully the URL of the site before you log in your credentials.

[rosezionjohn]

This means if someone hacks my funds and trades through this exchange whom to I ask?

Consider trading on decentralized exchange as you trading directly with another person. No one else will hold your funds, it's just you and the person you are trading with. That's as simple as I can explain how a DEX operates.

It's not as scary as you think. Be more responsible with your funds so you won't have to ask someone else to recover it.

[Katashi]

This means if someone hacks my funds and trades through this exchange whom to I ask?

I have not used much distributed exchanges but this statement was scary. Previous I had the experience where my funds were hacked and this statement opened up my wounds.

If someone hacks your fund on DEX. It's either your fault since hacker has access on your private key or directly blame McAfee because he is the owner of dex which possibly leaks your private key.
As DEX is designed to trade on an exchange that you own the private key of the wallet itself. Unlike a centralized exchange, DEX allow you to directly import your private key the exchange.
Only few cases that report hack on DEX and most of the report is the result of the phishing attack the user itself. You better check carefully the URL of the site before you log in your credentials.

Totally agree with you in this one, from the word DEX (Decentralized Exchange) meaning that only you has the access to your privatekeys not the owner of the DEX which is McAfee. its an open-source DEX or like P2P transaction that some traders like compare to a centralized exchange and the main thing is other traders don't want to undergo KYC.

[o48o]

I was reading a article published by cointelegraph and read that:

McAfee DEX is set to run in a beta release status as of Oct. 7

McAfee DEX beta: the details
According to the details released so far, McAfee DEX reportedly will entail no Know Your Customer checks, block no jurisdictions and charge a single platform fee of 0.25% for takers. It will not charge maker fees and will also reportedly be open sourced.

I am avoiding it, i don't even want to visit the site, but i would like to know if there's any reviews for it so i could know? Is it going to be just another forkdelta, maybe with cumulative buying option like in binance dex has if i have understood correctly, instead of buying once per contract?

[ivaf]

...
This means if someone hacks my funds and trades through this exchange whom to I ask?
...

If someone breaks you in, then there will be no one to ask from you. Only you yourself will be to blame. This is the meaning of DEX. You work with your wallets and your passwords yourself, and you yourself are responsible for their safety.

[LbtalkL]

This means if someone hacks my funds and trades through this exchange whom to I ask?

As stated on the website you can contact them at https://t.me/ethershiftco

This exchange has no difference with Forkdelta (Etherdelta) except for their whitelist feature It says you can then trade on McAfeeDex with no platform fees for life. Amounting $85 worth of ETH.

[ronaldo40]

~snip

i just wondering how long the beta will be done?

This exchange has no difference with Forkdelta (Etherdelta) except for their whitelist feature It says you can then trade on McAfeeDex with no platform fees for life. Amounting $85 worth of ETH.

so the feature for whitelist just that?
for me, i prefer to pay the platform fees because of the fees not that high.

I am avoiding it, i don't even want to visit the site, but i would like to know if there's any reviews for it so i could know? Is it going to be just another forkdelta, maybe with cumulative buying option like in binance dex has if i have understood correctly, instead of buying once per contract?

i just visit the website and for me, it looks like another forkdelta with another feater just whitelist

[cudora]

Decentralised exchanges are great, and it is pretty shameful that the best DEX is now implementing KYC features and account creation (IDEX). But I would rather trade on forkdelta than to use exchange that was created by this crazy dude.

[Ferris419]

Does this mean if someone hacks my funds and trades through this exchange whom to I ask?

As stated on the website you can contact them at https://t.me/ethershiftco

This exchange has no difference with Forkdelta (Etherdelta) except for their whitelist feature It says you can then trade on McAfeeDex with no platform fees for life. Amounting $85 worth of ETH.

I checked the exchange and thereby saw "Add Token" option, I tried to list a random token for a test and it worked! It means anyone can list their token without any verification, fees and even without contact with the exchange team! But to get whitelist, you have to pay 85 USD worth ETH! It seems totally ridiculous to me!

[safari88]

I checked the exchange and thereby saw "Add Token" option, I tried to list a random token for a test and it worked! It means anyone can list their token without any verification, fees and even without contact with the exchange team! But to get whitelist, you have to pay 85 USD worth ETH! It seems totally ridiculous to me!

the add token is same just other dex exchange like etherdelta/forkdelta but don't forget that the whitelist feature is good if you often trading there
since the whitelist give you free trading fees until the exchange down

[ahmia39]

I was reading a article published by cointelegraph and read that:

McAfee DEX is set to run in a beta release status as of Oct. 7

McAfee DEX beta: the details
According to the details released so far, McAfee DEX reportedly will entail no Know Your Customer checks, block no jurisdictions and charge a single platform fee of 0.25% for takers. It will not charge maker fees and will also reportedly be open sourced.

Here is the article: https://cointelegraph.com/news/john-mcafees-decentralized-crypto-exchange-launches-in-beta

This means if someone hacks my funds and trades through this exchange whom to I ask?

I have not used much distributed exchanges but this statement was scary. Previous I had the experience where my funds were hacked and this statement opened up my wounds.

DEX is an exchange platform that uses smart contract ethereum. Basically DEX is the same as we transfer coins from one wallet to another. But on DEX we transfer coins to the wallet platform, after a successful coin transfer it will appear in the balance.
But the problem with DEX is when we login using the Private Key. Because our private key will be stored in DEX, if DEX has a problem, then our private key will have a problem. So if you log in to DEX using a private key, then log out immediately, or log in with Metamask if available.