The recently updated privacy policy of the decentralized exchange Uniswap (DEX) seems to have infuriated some members of the community. Concerned that storing user data is against crypto’s decentralized values.
In the latest reply on the blogpostNovember About Privacy Policy Updates Some leading members of the community have suggested that Decentralized exchanges have never stored information about their users before.
In a Nov. 11 post from Uniswap Labs, published around the time of the FTX meltdown, a privacy policy was issued explaining how user data is stored.
“The reason why we released a new privacy policy today. Because we want to be clear about the data we are protecting. and how we use any data we collect, where transparency is key.”
This privacy policy, which was last updated on Nov. 17, reveals that the exchange collects publicly available blockchain data, information about users’ devices such as browser and operating system data. and information about user interactions with service providers, among others.
Uniswap also states that these data do not contain personally identifiable information such as first name, last name, address, date of birth, email address or IP address.
On the other hand, some members of the crypto community view Uniswap’s move as contrary to core crypto values. which focuses on user privacy and anonymity.
The team behind Firo posted on Twitter on Nov. 21 that Uniswap’s privacy update is “a dangerous precedent” for DEX.
OwenP, a subsidiary of DEX SpookySwap recommendThat decentralized exchanges have never before stored user data on the backend.
Twitter user “CryptoDavid” sayOn his Twitter on Nov. 21, he said he wasn’t surprised by Uniswap’s decision, as other DEXs also started doing the same thing.
Not surprised
Not first DEX doing this
This is shitty because i’m not always behind a VPN…
So frustrating. But we can’t prevent dapps doing soBeware of these activites and take measures if you feel concerned https://t.co/Mt6XdJA7KB
— David Miller ⬡ (@CryptoDavid_) November 21, 2022
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