The rise of decentralized applications (DApps) has led to an increased demand for blockchain technology. Currently, there are approximately 3,500 DApps in existence, according to the State of dApps, a website that monitors DApps. To create these DApps, developers require blockchain APIs that simplify the process. In this article, we will explain what APIs are, and the types of blockchain APIs, and provide an overview of the top blockchain API providers.
What is an API?
An Application Programming Interface (API) is software that enables two applications to exchange information and work together. APIs act as a bridge between a requesting app and the answering app. For example, when you ask Google a question, APIs search Google’s database, sort the answers in order of importance, and deliver them to you.
What is a Blockchain API?
A Blockchain API is an intermediary software that allows seamless operation between blockchain apps and services. It enables users to connect with blockchain nodes and gather data using various protocols and tools. Furthermore, Blockchain APIs secure and encrypt the data to protect it from unauthorized access.
How does a Blockchain API work?
A blockchain API takes an order from a requester about the type of data needed. Once the request is complete, it communicates with the blockchain’s nodes, asking for relevant information about the data requested. On receiving the data, the API returns it to the requester, who then uses the data.
Types of Blockchain APIs
There are four main types of Blockchain APIs:
- WebSocket API: This API facilitates two-way communication between two apps. It sends live messages to the user, making it ideal for crypto analytics websites. The API is commonly used to track crypto prices on exchanges.
- Payment Processing API: Payment APIs enable dApps to offer checkout to users without redirecting them to another app. Payment Processing APIs are integrated into businesses on blockchains to enable payment of fees for services. This API allows payments to be made across blockchains, making it popular with crypto exchanges.
- Wallet Services: Wallet Services APIs enable users to purchase, send, receive, and store cryptocurrencies. ChromaWallet API is an example of this API.
- Simple Text Query API: This API retrieves data when requested, acting as a blockchain explorer that operates as a search tool. Blockchain Info API is an example of a Simple Text Query API. There are also multi-source APIs like Daneel API that retrieve data from over 500 sources.
Top Blockchain API Providers
Although there are numerous Blockchain API providers, we have listed the top four below, based on the number of monthly users:
- Coinbase API: Coinbase’s API enables dApps to access real-time prices, asset storage, crypto exchange, and wallet creation. It also generates Bitcoin Cash wallets and addresses and notifications for payments. The Coinbase API is RESTful, using HTTP requests to send and receive data. Monthly visitors to Coinbase’s API are around 35.2M.
- BitPay API: BitPay API allows developers to manage BitPay accounts to communicate with the blockchain. It also provides invoice management, record viewing, and refunds, among other services. The API can be programmed using any language, making it popular with developers. Furthermore, BitPay does not require any upfront fee, only charging transactional fees. The website’s services had 891.6K visitors in November.
- BlockCypher API: BlockCypher is a cloud-based platform that offers services to new enterprises. It assists them in building blockchain applications with web APIs and callbacks. BlockCypher’s API supports multiple cryptocurrencies and is user-friendly. The API has also been used to build over 100 applications.
Conclusion
In conclusion, Blockchain APIs are essential tools for blockchain developers. enabling the seamless integration of blockchain apps and services. With the growing popularity of Dapps and blockchain technology, the demand for efficient and reliable APIs is also increasing. The top blockchain API providers, including Coinbase, BitPay, Ankr, and BlockCypher, offer a range of services, from payment processing to wallet management and real-time data analysis. By choosing a reputable blockchain API provider, developers can save time and resources while building secure and functional Dapps that meet the needs of their users.
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This article was contributed by our guest writer. Want to share something unique with over 10 million users? Check out the MEXC Creators program.
