Cryptocurrencies came to life as a counterweight to the global financial restrictions that are powered by banks and regulators through the use of fiat. Therefore, it is fitting that Bitcoin (BTC) broke into the limelight in 2009 and raised a lot of controversies right form the start. By design, all blockchain transactions are recorded on an immutable ledger. Therefore, even though it would take immense work, skilled auditors like Ernst & Young are able to find irregularities — as opposed to fiat, which it is claimed that 99.9% of money laundering is not prosecuted by regulators. Early on, criminals quickly …

Earlier this week, British-American entrepreneur John McAfee, who is currently living “in exile” due to tax-related charges filed against him by the United States authorities, launched his own decentralized exchange (DEX). The expressive crypto advocate’s McAfeedex.com is running on the Ethereum (ETH) blockchain, and, in McAfee’s own words, it is a “Wild Wild West exchange” that purportedly cannot be seized by regulators. “There is nothing to shut down,” he wrote on Twitter, “Our technology is the smart contracts forever residing on the blockchain.” According to the businessman, the DEX, currently in beta, is open source and imposes no Know Your …

The views expressed here are the author’s own and do not necessarily represent the views of Cointelegraph.com Blockchain and decentralization have become synonyms in the cryptocurrency industry. The use of blockchain technology made it possible to create a network where all users are equal, and information is distributed over a countless number of computers in the world. Decentralization has gained a particular value for banks and other commercial institutions, since it brings a new dimension to the concepts of security and transparency. A study conducted in February 2018 by Professor Emin Gün Sirer demonstrated that Ethereum is much more distributed …