Have
you been keeping up with how crypto technology and web development are merging?
If you have been, you can well agree that things are not the same today as they
were about five or ten years ago. Now, with crypto APIs, you can take advantage
of blockchain technology to reduce development and infrastructure costs. And
the good thing is that they have numerous pricing plans to fit with your
specific needs.
As more people continued adopting these APIs, the market continued growing exponentially. By about six years ago, it had reached US$ 276.4 million. Fortune Market Insights did a recent survey in 2023 and found the market to have hit US$ 712.3 million, with projections that the value will get to as high as US$ 5,569.6 million by 2033. What could be the reasons for such expectations? If you have such questions, you may want to stick around and discover for yourself.
What is the role of blockchain in web development?
If
you are interested in crypto, it follows that you are possibly acquainted with
its decentralized nature. Such benefits explain why many industries are opening up to Bitcoin and other
digital currencies. Just think of the possibilities of not storing data on a
single server but distributing it across several nodes. This is what blockchain
offers website developers. Actually, a platform like Unstoppable Domains is
already implementing this and allowing users to develop censorship-resistant
websites.
Why would you want to miss
out on the interoperability benefits of blockchain? Sometimes handling silos
between different departments can be quite a task. Blockchain infrastructure
comes in to help in such instances with its smart contracts and helps to ensure
information can be shared in real time. And you know what? When communication in
the workplace is effective, it can lead to a 50% rise in customer satisfaction,
Zight reports.
Another good side of using
blockchain in web development is that you can use digital signatures and crypto
keys to reduce fraud. Cryptographic keys work by altering data so that a
malicious person is not able to understand it. The data can only be accessed if
the viewer has a key. After adopting blockchain, Cassie Fields, the president
of AutoLeap, now acknowledges that they can provide users with better digital
identity management. She further adds that their brand perception has improved
as customers now feel more secure.
What are some of the popular crypto APIs available for you?
BlockCypher API
This interface is actually simple and easy to use. It allows you to interact with different currencies, including Bitcoin, Litecoin and others on different platforms. Using the BlockCypher API, you can create a multi-signature transaction, use a smart contract and so on.
On top of that, you will
find the following:
- Advanced features
such as confidence factor and Segwit Support
- Data addresses
- Notifications
about unconfirmed transactions
- Unified interactions with up to eight blockchains
Chain API
For
those looking for a more sophisticated solution than BlockCypher, this can be a
good option. It actually has good documentation and support to allow for
numerous programming languages. With its user-friendly interface, you can easily
set up first-party oracles without too much hustle.
Something that Chain API
boasts is its cloud-based serverless function, Airnode, which requires very
minimal technical monitoring. That way, you can always enjoy reliable Web3
connectivity to your interfaces at all times. And did you actually know that
Airnode serves as the first provider-focused serverless function that links
APIs to decentralized applications? You definitely do not want to miss out on
this highly secure, reliable and quick-to-deploy tool.
GetBlock APIs
You can now enjoy connecting to almost 40 crypto through GetBlock APIs, including REST, WebSockets and so on. Developers can quickly build blockchain apps as they do not need to be concerned about configuring and maintaining nodes.
You get to enjoy high-speed
running nodes and safe access to API for Binance Smart Chainto to run your
decentralized apps efficiently. Plus, you’ll access a blockchain development
program that accesses raw data. And if you are stranded about how to maximize
their services, you don’t have to worry – their technical guides and custom
SLAs ensure you find tailored help for your business needs.
What are some key considerations?
Although crypto APIs have a promise of better security, cyberattacks are not something we can afford to ignore. Can you imagine that in 2023 alone, attacks targeting the business logic of APIs accounted for about 27%? Meanwhile, Account Takeover attacks aimed at APIs rose to 46% from 35% in the previous year.
These are a few of the
challenges that may affect this industry, given that a lot is still in its
infancy. Businesses have also to look at how they can ensure scalability and
low latency, especially when market activity is high or there is network
congestion. You want also to ensure you effectively integrate an API to avoid
interactivity issues.
Parting words
Everyone is talking about digital currencies, and the web development sector has not been left behind. We are now seeing a trend where developers are turning to blockchain technology to reduce operation costs and enhance security.
In fact, as at the moment,
you can find so many crypto APIs, such as Chain API, to get you started. As
operating efficiently has become very important, we may see more developers
turn to blockchain, resulting in significant market growth – just as Fortune
Market Insights predicts.
