Draglet.com, a white-label cryptocurrency exchange software provider, has announced several major changes to its platform, intending to increase the scope and scale of its operations. These changes include a better pricing model and the new smart contracts consulting feature.
Draglet, in operation since 2013, provides a full-stack white-label software solution for anyone to set up their own cryptocurrency exchange, with a focus on security, flexibility and availability.
White-label software: your own exchange, minus the technical hassle.
Dealing with the lack of IT professionals
IT expertise is a requirement when building almost any kind of business in crypto, especially when talking about cryptocurrency exchanges, whose software has to operate 24/7, without significant malfunctions, all the while being a constant target of malicious attacks by hackers.
However, given the explosive growth in the popularity of cryptocurrencies, especially over the past several years, it’s hard to expect every new person involved in the industry to be an IT professional. Marketing and advertising specialists, designers, managers, and other kinds of professionals have much to offer for the industry but are often unable to do so, due to the high barrier to entry.
Draglet, as well as several other white-label software providers, target their solutions at these kind of professionals. And due to the recent changes, Draglet might just be taking a lead over the competition.
The new pricing model
The new pricing model, as well as the existing modular features, makes for a highly flexible system, allowing anyone to choose exactly the setup they need, without having to worry about overpaying for anything.
Up until recently, Draglet has been operating in a manner, which is pretty standard throughout the industry, where every contract purchase involves an upfront fee, as well as some sort of recurring operational costs, such as profit sharing or per-execution fee. The company has dealt away with the latter part, only leaving the yearly licensing cost, the amount of which depends on the precise services selected by the customer.
There are two major options available now: hosted and download. If a customer chooses the former, the team of Draglet arranges the entire setup of the exchange, from renting servers, to installing the software, as well as maintaining its operation.
Alternatively, they can choose the download option, and take care of the hardware and installation themselves, retaining definitive ownership of their customer and trading data. In both cases, the customer has to buy a yearly exchange license.
A number of additional services are also available in the form of add-ons, which includes increased liquidity, additional languages and coins for the exchange, a distributed shared order book, and so on. The full list of features, with their corresponding prices, can be found here.
Developing Blockchain applications
With their several years of experience in developing Blockchain-based software, the team of Draglet will be able to conduct a feasibility study and implementation estimation of many potential business cases involving Ethereum Smart Contracts, digital tokens, private Blockchains, both for business clients, and individuals.
Online exchanges are not the only thing which is booming in the Blockchain industry. In fact, Blockchain applications outside cryptocurrencies are becoming increasingly more widespread. Blockchain’s resilience, immutability and efficiency can be advantageous in many business cases, and there are already tools out there which allow for Blockchain integration with relative ease, such as Ethereum, Lisk or Ardor.
However, even exploring the feasibility of this integration still requires a great deal of technical expertise, and that is why Draglet has decided to offer a new service - Blockchain Consulting. In order to get a better picture of the update, from inside the company, Cointelegraph has got in touch with Ganesh Jung, CEO of draglet GmbH.
Cointelegraph: How in-demand is white-label exchange software actually is right now? Do you have to struggle with any significant competition?
Ganesh Jung: The current demand is pretty astonishing. We do not have the experience that the volume of demand is growing, but the potential of the customers is. In 2014/2015 mostly entrepreneurs with interesting ideas contacted us. The year 2016 brought established financial institutions and big players that are interested in creating their own Bitcoin/Blockchain infrastructure. There is no struggle with competition as our efficiency allows us to offer a similar product for only 1/10th of the pricing of our competitors.
CT: Is there any sort of overarching philosophy behind the changes being made to Draglet? Are you trying to steer the company in a new direction, or are these just purely pragmatic improvements to your existing model?
GJ: As we are demand driven, the broader service portfolio is just a logical conclusion from the inquiries our customers made.
CT: Blockchain Consulting is a new field for Draglet. Does your team have much experience in Ethereum smart contracts? Have you implemented any smart contract solutions we should know about?
GJ: Actually we did Blockchain consulting over two years now. We initially started with implementations on the Bitcoin Blockchain, as we have multiple customers that are using the Bitcoin Blockchain to issue and manage company assets, and now move toward Ethereum smart contracts. We already implemented a modified Ethereum for a customer and are making several proofs of concepts. We assume we can give you more detailed answers about the outcome next year.
CT: Do you have any other new features we should look forward to?
GJ: We made the Merchant plugin, which is basically a BitPay for your own exchange, currency-agnostic. It is now possible to create your own BitPay-like payment solution for any cryptocurrency that can be liquidated into any fiat currency, as long as the liquidity is available.