The revised privacy policy of Uniswap is criticized by decentralists.

A blog post that was written back in November and posted online to introduce an amended privacy policy for the company received responses in recent days from a few outspoken members of the community. They have noted in their remarks that it is unusual for a decentralized firm to acquire and maintain user data. They have mentioned this, after all.

Being honest and upfront is absolutely crucial. They said they didn't want any of their clients to be taken by surprise at any time.

The exchange gathers information from readily viewable blockchains, data about user devices, including details about browsers and platforms, and data about customers' interplay with the exchange's telecom operators, among other kinds of knowledge, according to this privacy policy, which was most launched recently on November 17th.

No personally identifying information, such as either first or last name, full address, birthdate, email account, or Transmission control protocol / internet address, is included in any of this data, according to Uniswap. The aforementioned information is not present in this paper, according to Uniswap.

Notwithstanding this, some individuals of the cryptocurrency world have voiced worries that the advances go against the guiding principles of the sector, which are focused on preserving user anonymity and privacy. These community members have expressed their worries in a variety of ways.

The developers behind the currency that safeguards user privacy tweeted to their 83,700 followers on November 21 to complain that Uniswap's latest privacy enhancement sets a “hazardous precedent” for DEXs. The post was made in response to Uniswap.

A decentralized exchange gathering and retaining user data on the platform's backend is unique, according to OwenP, an alliance for the decentralized exchange SpookySwap. In reference to a query regarding the rationale behind such behavior on the part of a decentralized exchange, OwenP issued his statement.

The word “transparency” has received more traction in the business as a result of the recent collapse of the FTX crypto exchange at the start of the month.

As a reminder, WikiBit is ready to help you search the qualifications and reputation of projects in a bid to protect you from hidden dangers in this risky industry!

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