What is Blockchain API?

What is Blockchain API?

Blockchain bitcoin

The Azure Blockchain Workbench REST API preview release provides developers and information workers a way to create rich integrations for blockchain applications. This article highlights several scenarios for using the Workbench REST API. For example, suppose you want to create a custom blockchain client that allows logged-in users to view mapped blockchain applications and interact with them. The client can use the Blockchain Workbench API to view contract instances and take actions on smart contracts.

To make an authenticated request to the REST APIs, the client code requires authentication with valid credentials in order to call the API. Authentication is coordinated by Azure AD between the various actors and provides the client with an access token as proof of authentication. The token is then sent in the HTTP authorization header of REST API requests. For more information on Azure AD authentication, see Azure Active Directory for developers.

Blockchain login

APIs are quite important for websites and applications today, and they have also become imperative for blockchain applications. But few people understand what they are and why they are essential for both users and businesses.

There is nothing conceptually complicated about an API, including a blockchain API. The term stands for Application Programming Interface and represents a tool that hides complexity from developers, giving users the opportunity to interact with an application or website seamlessly. It can make components of an application reusable, send data to and from the application, and extend the application’s systems to partners.

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An example of a similar blockchain API would be CoinMarketCap. It is one of the most popular and trusted cryptocurrency data providers. The website gets all its data from APIs of different exchanges, such as Binance, Coinbase, Kraken, Bistamp, etc. Each exchange’s API sends information back and forth.

Blockchain app

They operate as a node in the Bitcoin network and thus, like all other nodes, store the complete blockchain. This blockchain consists of all transactions made and are used to calculate the balance of an address.

Like other nodes, they also receive transactions from other nodes and are also likely to display them before they are confirmed (of course, explicitly indicating that they are not). The time it takes for a transaction to reach all nodes varies. Not all nodes know about all other nodes, so it may take a few seconds before all nodes notice a transaction .

In addition to that, the loading time may also depend on the server load . When several users try to access the balance of their address at the same time, it is likely that some of them will have to wait.

Blockchain developer what is it

Last Thursday, April 21st, I participated in the BlockChain Day organized by the BBVA Innovation Center. My goal was to share with the BlockChain community what we are doing at Microsoft.  By the way, here you can see the presentations.

During the event, the BBVAOpen4U team interviewed me about my opinion on APIs and their relationship with BlockChain technology. BBVAOpen4U is an open innovation platform with a community of developers with ideas, resources, events and competitions for BBVA apps.

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BlockChain technology, with so many actors involved in a transaction or operation, would allow companies to exercise their commercial activity in a secure, reliable and unalterable way without the need to have the figure of the “witness” or “notary” that attests to the relationship between the parties. In addition, BlockChain itself requires the use of APIs to expose its services. Come on, inseparable 😉

The so-called digital transformation is more of a cultural challenge than a technological one. Don’t get me wrong, technology is changing the way we do business.  I talk about culture because I think it is inevitable to put in place strategies and mechanisms to manage change and eliminate possible rejection.