The world is gradually accepting the existence and importance of cryptocurrency, especially in terms of financial transactions. WordPress is an open-source content management system that allows people to create content and put ads in a bid to generate revenue. Revenue generation is a big part of any business, and WordPress has expanded its grasp from the usual cash generation to allowing webmasters to activate the new plugins that allow payment in Ethereum. Members of the crypto community are delighted with the new attention crypto is getting, and the new moves by WordPress show it’s attracting interests from institutional investors.
How new plugin allows revenue generation in Ethereum
Businesses interested in the new feature will advertise their products through the help of web publishers who want their revenue in the cryptocurrency. The recently created plugin allows advertisements spaces to be auctioned for payment in crypto. After many years of Google’s dominance on the web advertisement scene, WordPress finally created a similar platform which would generate revenues for content creators using its plugin on their site.
The popular content management system explained the processes to follow to have a hassle-free auction. It reported that the widget has to be live on the website, after which numerous bidders will bid on the space, with the highest, getting the advertisement space for two weeks.
The site explained that after space has been given to the highest bidder, and once payment has been made, the crypto will be sent directly to the publisher’s wallet. The website also has several other cryptocurrency features to make the new widget easy to use.
It explained that the plugin is an open-source software that uses the banner ad space to generate crypto. The system management explained that monetization could be done under 60 seconds, once the publish integrates the widget to the site. The bid is made by using WordPress’s smart contract to get bidders every two weeks.
WordPress’s history with cryptocurrency
WordPress has a fascinating history with cryptocurrencies, considering that the site had accepted Bitcoin in its earlier years as a payment method. However, the plans were cut short due to the increase in transaction fees. Sources claim that the new acceptance of cryptocurrencies is opening roads for it in so many businesses and places.
Despite the removal of Bitcoin as a payment method in 2016, WordPress’s recent move shows that there might be plans to make crypto a payment method again. The EthereumAd is expected to compete with Google AdSense that has gained substantial ground, being the largest monetization platform for publishers.
Now, WordPress has several crypto extensions, and some claim that the website has over 300 extensions, including the price ticker and many others. Self-hosted blogs and WordPress hosted websites can use this platform without any issues because it was created to be compatible with most.
The new payment option uses a decentralized system as opposed to the traditional, which sometimes blocks some payment. EthereumAds allows payment to come in without the hurdles of time-wasting intermediaries.