Any WordPress Site can Become a Decentralized Exchange, But Most Shouldn’t
The cryptocurrency industry needs more decentralized trading solutions.It now appears that virtually anyone can run a decentralized exchange through WordPress.
For many years now, the trading of crypto assets primarily occurred on centralized exchanges.
More Decentralized Crypto Trading Solutions
An odd situation, given how these crypto assets promote decentralization and taking control of one’s funds.
Why users are so eager to give up control, is a bit unclear.
However, it seems that a solution may be in the works.
A new WordPress plugin has the potential to turn any website into a decentralized trading solution.
It is a plugin developed by a third party, thus caution is advised at all times.
Under the hood, the plugin makes use of DeFi aggregator Totle.
Through Totle’s API, multiple DEXes have their data aggregated to offer the best trading rates for users.
Just because this plugin exists, doesn’t mean that every WordPress site should offer this service.
Bringing crypto assets to more users through this means is commendable.
However, the overall liquidity will not change all that much because of this development.
All in all, it is a welcome development for the industry, but one that won’t necessarily make a big impact.
Image(s): Shutterstock.com
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OhNoCrypto
via https://www.ohnocrypto.com
JP Buntinx, Khareem Sudlow