Blockchain technology is in high demand right now. Fast, anonymous, cheap, secure – all these aspects make cryptocurrency transactions an efficient solution for cashless payment. People are aware of this technology, they understand its benefits and want to use it. You need to provide cryptocurrency support in your project, whether it’s an eCommerce marketplace or any similar business. The point is: blockchain development from scratch isn’t the most reasonable thing for you to do when you’ve got a lot of other vital business points to focus on.
Blockchain APIs are your best choice. Saving literally thousands of work hours, they make cryptocurrency transactions a useful feature for both you and your customers. Let’s find out what essential figures you should be looking for, and what are the best blockchain APIs right now. Let’s get started!
What Are the Most Important API Features for You?
It goes without saying that we can’t predict all your case-specific requirements, so we will cover the main aspects you need to focus on when implementing blockchain technology and tell you how to make an API choice.
API Development Technologies
Your team’s expertise defines the range of software products you can acquire. You could, however, hire developers with the needed programming skills to use the API you find most appealing.
Performance and Scalability
Is your company a small, medium or large enterprise? This has an influence on picking the application programming interface, as different software provides different network capabilities. Excessive power won’t ruin your business, but lack of it can bring some difficulties. Make sure to bear in mind your business needs to make the right decision here.
Cryptocurrencies You Want to Implement
Bitcoin is the classic blockchain payment method. Nevertheless, it sometimes isn’t enough. As new cryptocurrencies become global they need to be supported as well. Research the API’s available coins to avoid any frustrations in the future.
Image source: CNBC
6 Top Blockchain APIs
We have chosen excellent solutions for different purposes so everyone can pick something suitable for them. Let’s dive into the 6 most secure, stable and scalable APIs you can find on the IT market today.
1. Tierion Hash API
This application programming interface is a decent choice for developers seeking a secure and easy-to-use blockchain platform. Hash API allows up to a hundred transactions per second for free, which is quite enough for small and medium enterprises. The Tierion product is a convenient solution for getting data from different mobile and web platforms, as developers have access to implemented REST and HTML forms. Hash API is easily integrated with numerous externals services, such as MailChimp, Slack, Gmail, Salesforce and many other global software products.
Image source: Bitcoin Wiki
We have covered the convenience aspect, but what about blockchain security? It turns out that Tierion Hash API offers a unique verification approach. Its Chainpoint protocol ensures that every piece of data is anchored and, consequently, validated by the blockchain receipt. Hash API is a robust solution for verifying transaction relevance and authenticity.
On balance, Tierion Hash API has the following strengths:
- integrated HTML forms and REST
- convenient external service implementation
- up to 100 records per second free of charge
- security guaranteed by the Chainpoint protocol
2. Blockchain API
Blockchain API is a classic in the cryptocurrency world. Being one of the oldest and most popular platforms, this brand is still very much an actual and relevant blockchain services provider.
Image source: Blockchain
Base wallet and digital assets management functionality, enormous developer community, convenient JSON format of the interface data, direct e-wallet coin access, low downtime figures – all these Bitcoin API aspects help it to keep its head above the water. This product also provides additional statistics related to bitcoin, which can be used for analysis.
On the whole, this well known API service supplier offers the following list of features:
- trusted and time-tested technologies
- convenient JSON data format
- high performance of the WebSocket protocol
- enormous developer community
- no need for additional cryptocurrency storage
3. Colu API
The Colu platform is a multifunctional tool for cryptocurrency issuance and management. Powerful yet simple, Colu API provides a broad range of opportunities for the blockchain ecosystem development.
Image source: Newbium
But what puts Colu API in line with the other best blockchain APIs? The relatively elementary level of structural complexity makes it the number one pick for blockchain beginners. At the same time, it doesn’t use the NodeJS, which is unusual. Without a doubt, this means you need to hire developers or obtain additional programming skills, but on the bright side – Colu interface is less likely to conflict with your existing platform, compared to other APIs. After all, there is a module for overcoming this limitation.
This application programming interface protects your cryptocurrency transfers. It uses the modern encryption method of creating public and private keys. It also allows searching and reading asset metadata and implementing a BIP44 wallet hierarchy.
All in all, here are the Colu API features that help it to stand out:
- easy-to-learn blockchain technologies
- sufficient functionality
- secure monetary asset transfers
4. Gem API
Gem is a highly versatile and scalable blockchain API on HTTP protocol. This solution for creating infinite wallets and storage/management of the cryptocurrency is distinguished by its outstanding security measures.
Image source: Medium
The thing to note is that the Gem API encryption approach differs from standard methods. Two-factor authentication is the “traditional way” to protect your digital assets, and hackers are well aware of this technology.
The Gem product, on the other hand, offers an entirely different idea. What if – the Gem API suggests – we create multiple private keys for complicated encryption and send your coin to our server rather than storing them in a client? It eliminates any possible attempts to hack the system, as it has an almost unbreachable protection level.
Gem API is a decent choice thanks to the following features:
- high scalability
- extended features for cryptocurrency management
- cutting-edge security measures
This solution has a comprehensive suite of tools for digital transaction management and security. It’s fast and easy to integrate Bitcoin into existing applications with Coinbase.
Image source: Coinbase
Wait a second – did we say Bitcoin? Coinbase’s flexibility allows its developers to work with other cryptocurrencies as well. Litecoin, Ethereum and Bitcoin Cash are already in use in all free and paid Coinbase plans. Ethereum Classic is going to appear in paid plans in the near future.
So, what does Coinbase have to offer? This API boasts an extensive range of tools and libraries to ensure the blockchain development convenience. Standard cryptocurrency operations – wallet and digital assets management, along with a notification system – create a user-friendly blockchain environment.
Coinbase also enables transaction confirmations via email or SMS, which significantly upgrades its security level. Authorization and notification for funds transfer are great examples of features that ensure a comfortable and protected user interface.
To sum up, this is why Coinbase API deserves your attention:
- flexibility and numerous additional frameworks
- multicurrency features
- transaction authorization and notification
- API quality guarantee from a time-tested service provider
6. Bitcore API
This is an unusual application programming interface. Bitcore API allows networks to perform 20-30 times faster than its competitors. How is that even possible? Let’s find out.
Image source: Bitcore
More importantly, its node runs responsibilities of both the customer and server. Sounds like a peer-to-peer network, doesn’t it? That’s right – Bitcore is probably one of the best blockchain API providers for P2P projects due to its structure. It allows a transaction speed of over 500 records per second. Quite impressive, considering that’s not the end of Bitcore API strengths.
Like other popular API solutions, this software supplier offers WebSocket API and, of course, REST. This means both convenient development and stable performance.
To sum up, Bitcore is the best API if you are looking for:
- modular structure
- outstanding speed and performance
- peer-to-peer data structure organization
The Bottom Line
As you can see, there is a diverse range of blockchain database APIs that satisfy the specific demands of the majority of customers. As the application interface user, you need to make a responsible decision in choosing the right one. Is it going to be a classic Blockchain API, its closest CoinBase rival, or do you need something new, something different? In that case, Bitcore, with its modular P2P technologies, and Gem, with the ultimate security measures, will serve you the best. Don’t forget the Colu and Hash APIs with their outstanding features as well.
We want you to have the best experience of working with blockchain API. Still don’t know which one to pick? Contact SoftMediaLab and receive professional assistance in blockchain API implementation today.