Application Programming Interface (API)
An Application Programming Interface (API) is a set of rules that allows different software applications to communicate with each other. APIs enable the integration of different systems, allowing them to share data and functionality. In the world of blockchain and cryptocurrency, APIs are used to connect various platforms, services, and applications, facilitating tasks like data retrieval, payments, and user interaction.
For example, a cryptocurrency exchange may provide an API for users to access real-time price data, place trades, or monitor account balances through a third-party application. APIs are essential for enabling interoperability within the crypto ecosystem and streamlining workflows for developers.
Why APIs Matter in Blockchain
In blockchain, APIs help developers create decentralized applications (dApps), enabling them to interact with smart contracts, blockchain nodes, and other decentralized resources. They are integral to expanding the functionality of blockchain networks and creating seamless user experiences.