John McAfee recently launched GHOST Coin, which is a privacy-focused cryptocurrency. The coin is available for swapping on the McAfeeDEX with Bitcoin, Bitcoin Cash, Ethereum. The transactions made with GHOST coin are verified with the help of the zero-knowledge proof, which means that transaction history is deleted after the transaction process.
GHOST is basically a proof-of-stake network that is completely controlled by the GHOST token holders and users. GHOST doesn’t comprise any central authority, and it is solely run and maintained by the GHOST community.
After the establishment of a device-to-cloud cybersecurity firm McAfee aims to bring a revolution with the launch of the GHOST Coin. McAfee released a video explaining the airdrop scheduled for today, i.e., May, 26,2020, at 8:00:00 pm CST.
Here is my explaination: pic.twitter.com/JINkJlN2z3
— John McAfee (@officialmcafee) May 25, 2020
In the video, McAfee explains about the scheduled airdrop and how the snapshot will be taken. Every token holder will be receiving a one-to-one GHOST from the airdrop. McAfee states that GHOST is the first true privacy coin with the inbuilt second generation privacy capabilities.
GHOST is capable of being called a decentralized exchange, which is comparatively safe and secure from various other exchange platforms. McAfee further laid emphasis on making comparisons about centralized and decentralized exchanges with legitimate examples about why and how decentralized exchanges are safe.
He talked about Monero as well, stating that even though the currency is brilliant, but holds a disadvantage of not being on a decentralized platform. McAfee believes that true privacy is only possible on a decentralized platform.
There are various disadvantages of not being a decentralized exchange, no matter how privately you make the transactions your privacy is always broken. The centralized exchanges ask for a lot of information, be it your name, transaction details, and maybe sometimes your passport details as well.
McAfee seems to be quite supportive of the decentralized platforms. He believes that it’s highly reliable for making a transaction. Not only just the security factor, but decentralized exchanges also keeps you away from the interference of government or central authorities and keeps the data highly secured from hackers as well.
Everyone who is participating actively in the GHOST network will be getting a fructified offer to have shared in their transaction fees by using the GHOST master mode. The network is quite capable of processing transactions in less than 60 seconds with a minimal fee charge.
There will be a fair allocation where 25% of the GHOST coins will be distributed between the ESH holders. The remaining volumes will be used for the rewards of proof-of-stake.
By launching GHOST, McAfee aims to boost the token privacy game. He has previously claimed that it is near to impossible to keep track of transactions made with GHOST.
McAfee is known for being upfront and honest about his views. He speaks his mind and has always talked about the importance of financial privacy, and that’s the reason he came up with McAfeeDEX in the year 2019. The launch of GHOST probably completes a circle for the McAfee project of building a decentralized exchange. GHOST completes the plan by being the intensive privacy token on a decentralized exchange, which in itself is a brilliant combination. This has indeed bought financial independence.