on the crypto
Tim Draper's venture capital firm has released a WordPress plugin claiming that it will democratize cryptocurrency trading.
A plug-in thanks to which anyone can create their own cryptocurrency exchange
Draper Goren Holm based in Santa Monica, California, said its new "Cryptocurrency Exchange" plug-in, released on Wednesday April 22, would allow anyone to add trading functionality to websites "in minutes" or even to create your own cryptocurrency exchange with your own brand.
In a press release, the venture capital firm said the plug-in is open to all website owners, be they bloggers, content creators, media companies or entrepreneurs. Tim Draper, who became Goren Holm's partner in 2019, said the plug-in "will bring us closer to the dream of a truly borderless world."
Alon Goren - one of the company's founding members and author of the plugin - says that 35% of the Internet was made with WordPress.
A plug-in with advanced security features
Although the plugin is designed to be customizable to some extent, it is not an exchange in itself. Using the API from the Totle cryptocurrency platform, the plug-in directs orders to decentralized trading platforms that are said to be listing the best prices.
Furthermore, it does not have any integrated function to store digital assets but is compatible with existing wallet plug-ins, such as MetaMask, Brave and Coinbase Wallet. While this may suggest that the exchange may not be vulnerable to a classic exchange hacker, Draper Goren Holm's press release has clarified the plugin's security features. WordPress - which allowed users to pay in bitcoins until 2015 - can be omnipresent but users don't always maintain best security practices.
Security specialist WP White Security said that over 70% of all WordPress sites in 2013 were vulnerable to attacks due to poor password policies or outdated firewall protection.
Another step towards strengthening global free markets
Totle's API is described as a way for developers to "integrate aggregate exchange functionality into a product" for ether and "popular" ERC-20 tokens such as DAI and BAT. It can perform crypto swaps, send payments, retrieve price data on asset pairs and query exchanges.
"Totle has always been focused on making decentralized exchanges more accessible and easier to use," said David Bleznak, founder and CEO of Totle. "The WordPress plugin is another step towards empowering global free markets."
And how do you trade your cryptocurrencies? You have already tested automated trading platforms like Bitcoin Pro? If so, let us know in the comments below what you think.
