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Crypto APIs' Role within Blockchain as a Service (BaaS)

by Alex FranAugust 14th, 2019

Too Long; Didn't Read

Crypto API is considered the Top Blockchain API provider on the market. It is comprised of 3 APIs: Blockchain APIs (BaaS), Crypto Market Data APIs and Exchanges & wallets account management APIs. With Crypto APIs you have all you need in one place in the world of blockchain-based applications. The company behind the Crypto API provides a ready-to-use integration with top 10+ blockchain protocols, but also gives you access to historical data, supports the sending of a signed transaction (where you keep the private keys on your side)

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What is Blockchain-as-a-Service (BaaS)?

If you are trying to venture in the world of Blockchain-based applications, you are most probably already overwhelmed by the numbers of existing blockchain protocols, the similarities and differences between them and the completely different ways they need to be implemented.

Not to mention the head spinning costs that you will be facing doing such an implementation: setup a server and a node and maintaining them, plus the costs of integration and security.

Having secure, full nodes, which are running 24/7 with no downtime and are constantly synced is an exorbitant cost for any startup or established business.

This is why we have developed Crypto APIs Blockchain APIs.

But what could you actually do with a Blockchain API?

Some of the blockchain based applications that you can develop with the help of our BaaS API are:

Crypto Payment Service Provider (PSP) – you can generate hot wallets for the end users, get notifications when they receive any funds, move a certain amount of these funds to your own wallet as a commission and the remaining part to your client’s wallet. In addition you can get Cryptocurrencies and FIAT rates.

Blockchain Explorer – Building a Blockchain Explorer is much easier with Crypto APIs Blockchain as a Service APIs because we have all the needed data and ready endpoints.

Crypto/Blockchain Statistics & Analysis – If you want to show any Crypto/Blockchain Statistics or prepare any Crypto/Blockchain analysis you will need as much data as possible. We have already collected all the data you need and provides it in JSON, CSV, etc.

Crypto AML Solution – To build a Crypto AML Solution you need to be able to go back and fetch previous transactions and to know the source of funds. With our API you can easily go up as many levels as you need and check for suspicious addresses.

Crypto KYC Solution – KYC Providers which are looking to know who the owner of a given wallet is, have only one technical way to find that out, which is to ask the wallet’s owner to transfer a certain amount of Crypto to a dedicated temporary wallet and, once it’s received, to refund it. Using Blockchain APIs within a few hours you will have integrated the required endpoints to do that.

Gas Fees Management – Check gas price, calculate a price, get a prediction or let Crypto APIs choose the best gas fee for you.

ICO/STO Solutions – To build any tokenization platform, you need the relevant Blockchain protocols, temporary wallets for receiving funds, issue and send tokens by calling a smart contract, Cryptocurrencies & FIAT rates and live transactions on the blockchain.

Crypto Wallet – Using Blockchain APIs, you can generate a dedicated wallet for each user, get a notification for all wallet events, auto forward the funds to a cold wallet, check the balance, check the wallet transactions and more.

Why should I choose Crypto APIs and not another Blockchain APIs Provider?

Crypto APIs has the most complete and all-round solution and is considered the Top Blockchain API provider on the market.

Our product is comprised of 3 APIs: Blockchain APIs (BaaS) , Crypto Market Data APIs and an Exchanges & wallets account management APIs. Most of the other solutions you will find on the market only offer 1 of the 3 APIs.

If you wanted to build a product that requires at least 2 of these APIs, you would have to go to two different API providers and pay two separate sets of bills. With Crypto APIs you have all you need in one place.

Below you can see a comparison with Blockcypher API, Upvest API, Tangany Blockchain Wallet as a Service and dfuse Blockchain APIs.

When we dig deeper, it becomes clear that the single APIs are also much more comprehensive and cover a broader spectrum of services and options.

Crypto APIs (the company I work for) offers not only a ready-to-use integration with top 10+ blockchain protocols, but also gives you access to historical data, supports the sending of a signed transaction (where you keep the private keys on your side), has gas information and optimization, has Webhooks and WebSockets support and much more.

Here is a list of Blockchain APIs Crypto APIs support: