What is the purpose of the API?
An application programming interface or API is an interface between different user applications. For example, an application that lets us buy tickets online, book a hotel, call a taxi, or check exchange rates might use specific APIs. The API passes the request to the server, the server saves the required data, and returns the result to our phone.
APIs are widely used in software development today, especially in mobile and web applications.
What exactly is a blockchain API?
It is the interface that communicates with the blockchain node or client network directly or through other services.
What is the cryptocurrency API ?
APIs are used in many fields related to cryptocurrencies. There are APIs for trading, market trading, account management, analytics and security. This last question has become especially important since Binance was hacked with disastrous consequences. About $42 million was stolen in one transaction.
Binance and other crypto companies took immediate steps to protect customers. However, this incident shows how important security is in this day and age. Security is paramount when it comes to APIs.
Why are APIs important?
API technology is critical to cryptocurrencies. A large part of its value comes from the ability to use it as a private and secure method of online transactions. Therefore, it mainly relies on the privacy and security provided by the API. Another factor is ease of use. No one uses time-consuming and labor-intensive trading methods in their day-to-day operations.
Another important area is cryptocurrency trading. The reason is that Bitcoin and other currencies are considered stock market securities or a commodity. Therefore, in order to make good profits in trading, we need as much information as possible. Most crypto exchanges have their own API.
There are also data aggregators that collect information from these exchanges and deliver it to users through their own APIs. Additionally, crowdfunding and investment platforms or ICOs also provide APIs for their clients.
What to look out for when searching for the best blockchain APIs?
The blockchain community is growing rapidly, while also providing diverse APIs for blockchain developers. Our preferences may vary depending on technology, project size and budget.
API Technology Overview
Every developer prefers a specific library, architectural pattern, and programming language. There is a large blockchain community that produces a lot of open source software. They generally believe that in our time, the best security comes from open source code because it can be refined and tested by everyone.
Blockchain based projects should be included in our system
Most online stores accept Bitcoin as the only cryptocurrency payment method available. Almost all approved APIs only support Bitcoin transactions. However, very few of them support altcoins. Whether we plan to use Ethereum, Ripple or any other cryptocurrency, please check if the API of our choice has the relevant functionality.
Top 10 Blockchain API Providers in 2022
We created this list by selecting the most efficient, trustworthy, secure, and scalable products.
NOWNodes provides quick and easy access to the most popular blockchains through full nodes and blockchain browsers. It is a blockchain-as-a-service solution that provides high-quality connectivity via API. More than 40 blockchains can be connected on a reliable and economical infrastructure.
Features of NOWNodes:
- All full nodes and blockchain explorers in one place, no need to use multiple services;
- Fast access: 1GB/sec reliable connection;
- Guarantee service quality.
These nodes are monitored 24/7 by NOWNodes experts.
API is a flexible and secure tool. It supports Bitcoin, Bitcoin Cash, Litecoin and Ethereum. Coinbase offers an excellent wallet service with constant notifications for every transaction. API technology is based on Node.js.
Coinbase is popular due to the cryptocurrency’s ability to integrate with existing applications. With it, we can add encryption to an old application instead of throwing it away and starting a new one.
Coinbase tools are free to use with a cap of 10,000 requests per hour. There is also an advanced option, CoinbasePro, with a more advanced API. It has many exciting features, including programmatic trading.
In summary, this API is about:
- node . js;
- Just the right transaction support;
- Integrate with existing applications;
- be safe enough;
- Multiple cryptocurrencies support.
Additionally, Bitcore is a full node, so applications on its API run on a P2P network. This means super high performance (over 500 transactions per second). Bitcore productivity makes it the best blockchain API extension project. Its potential makes it somewhat future proof.
In summary, the Bitcore API is about:
- peer-to-peer networking;
- modular architecture;
- The level of performance is amazing compared to similar APIs.
Blockchain API is the perfect solution for implementing cryptocurrency payment functionality. With a community of over 25,000 developers, Blockchain API technology is considered the oldest and most popular. Blockchain has APIs for wallets, payment processing, blockchain browsers and simple text queries. They also provide WebSockets, a market data API.
Blockchain API stores data blocks and transactions in JSON format. It has a short timeout and only uses wallet operations. This avoids the need for additional cryptocurrency storage.
Overall, this Blockchain API is competitive because:
- Huge developer community;
- low timeout;
- accessible JSON data format;
- Access operations via Wallet account.
Factom is a company that provides truly innovative solutions under the brand name Harmony Connect. It provides data storage services on the blockchain. This is helpful when we need to record tamper-proof data for a long time. Their API integrates well with existing software. The Factom blockchain can also run smart contracts. Another nice feature of their blockchain is tokenization. We can create tokens that represent real-world assets and trade them over the network. Factom seems to be a very popular solution in the near future.
The Factom API has:
- no speed limit;
- Integrate with existing software;
- Tamper-proof timestamped data storage;
- Secure Transaction;
- Smart Contacts.
Web3.js Ethereum API
Web3.js is the main API of the Ethereum network; however, to use it, we need to run our own Ethereum client. I could also use Infura hosting instead. It supports wallets that automatically generate wrappers for smart contracts from native java code. It supports both ERC20 and ERC721 token standards.
Its unique features are:
- have an appropriate amount of documentation and extensions;
- it is free;
- We must have node running to use it.
Infura Ethereum API
There is another way, especially when we plan to use the Infura client for nodes. We can use the Infura Ethereum API. Infura is one of the largest blockchain service providers today – it provides a robust, scalable solution for client infrastructure in the Ethereum network. It is useful for decentralized applications, and there are other uses as well. Infura also provides a backend API to connect applications to the Ethereum network IPFS storage via HTTP and WebSockets.
Infura is responsible for providing Ethereum access to about 60% of applications, including Cryptokitties.
Some of the key features of the Infura Ethereum API include:
- It runs on Amazon servers and is always online;
- It’s easy to use;
- There is a developer dashboard;
- have appropriate documentation and support;
- Free for less than 100,000 requests per day;
- It provides access to Ethereum Archive Nodes for premium clients.
Nomics is a trading data aggregation platform that provides free APIs for all our trading needs. The main feature of Nomics is the use of raw trade data. Instead of using candle data from trades, this API tries to get raw trade data and then calculates candles or ticks as needed. It provides more accurate data, especially from less trusted crypto exchanges.
It also helps detect certain forms of transaction data manipulation. This data aggregator collects order and trade data from 13 different crypto exchanges. It also has access to historical data for all our in-depth analysis needs.
The Nomics API has the following features:
- it is free;
- The dataset includes price, market cap, supply and all-time high data;
- good documentation;
- Seamless raw trade data included. historical data.
Tierion offers a fancy solution called Chainpoint. This API allows us to create unparalleled timestamp links in the blockchain to the files we own. This timestamp cannot be deleted or tampered with. It can be used for legal reasons, for example, to prove an IP or time stamp a study or to create an audit trail. Although the technology is new, there are also many applications developed using this API. But there have been successful cases of blockchain anchoring as court evidence.
Tierion has the following features:
- Allows us to run our own validator nodes;
- Ethereum only;
- Node.js + RocksDB tech stack.
ICObench Data API
Another important application of blockchain technology is crowdfunding or ICO. The most important ICO platform is icobench. This platform provides APIs for advanced customers. This API allows clients to get ICO listings, statistical ratings, and some other data directly from the platform itself. However, it is only available to premium customers.
ICO Bench has the following features:
- For high-end users only;
- Provide statistics, ratings, lists;
- There are filters.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/dapp-development-top-10-blockchain-apis/
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