Building products on the blockchain, such as exchanges can be very daunting and expensive. It requires a complex system with many components that must work seamlessly together, like a Swiss watch. The Exchange must also be able to handle a constant flow of data and present it in an easy-to-use interface. Additionally, it must be able to operate on multiple blockchains and provide accurate and instant information. However, these are just the core functions of a crypto exchange. Another important aspect is managing user accounts and transactions, including the generation and management of wallets, setting up notifications for different events, and facilitating the transfer of funds. Imagine having to create everything from the scratch for each project, it would be a daunting and time-consuming task. Fortunately, APIs come to the rescue by simplifying the development process and enabling us to work more efficiently and quickly.
How to get Bitpowr API services?
Bitpowr provides a comprehensive institutional wallet and digital asset management solution for exchanges, payment gateways, Neobanks, and other financial institutions. We recently redesigned and simplified our API documentation to make it easier for developers to integrate with our APIs and SDKs.
Why use Bitpowr Wallet API
1. Ease for Developers
Developers can use our infrastructure, SDK, and powerful unified API to quickly and easily build blockchain apps. You don't have to worry about blockchain node configuration or maintenance, nor do you have to learn to code for specific blockchains. We've taken care of everything so you can focus on developing blockchain apps.
2. Easily generate unique hot addresses for multiple users.
With the Generate Address Endpoint, private-public key-pairs can be generated along with an associated public address. An effective way to use this endpoint is to generate a pool of addresses that are saved in the database. Every user that wants to deposit funds will be assigned one of these pre-generated addresses. A limit can also be set up: when the addresses that are not associated with any user are below a certain number, more can be automatically generated. This will ensure a certain number of available addresses per currency at all times.
3. Easy-to-use Webhooks
Webhooks are sometimes called "reverse APIs". The reason for this nickname is that a Webhook, unlike an API, pushes data instead of waiting for it to be polled. This makes life much simpler! You will not need to check every few minutes or seconds to see if a certain event has happened. Instead, the webhook will notify you that the event has taken place once all the defined criteria are met.
Bitpowr Wallet APIs offer a series of Webhooks that can be subscribed to and used. In this case, the Create Transaction Confirmations Webhook can be subscribed to. Notifications are received every time there are incoming or outgoing transactions from one of the assigned hot wallets. No deposit or transaction will be missed.
4. Multiple Blockchain Support
You can incorporate many blockchains into your projects or switch between them using the Bipowr API with hardly any code modifications. Instead of starting from scratch to write the blockchain integration, you can switch to a different blockchain in a matter of minutes depending on your use case.
5. Scalability
The global transaction rate for the bitcoin and Ethereum blockchains is currently very low and each on-chain transaction involves high costs. However, it's not always necessary to keep all the data on-chain. Bitpowr has developed virtual accounts to address scalability difficulties that can settle transactions independently of the blockchain and synchronize with any compatible blockchain on a regular basis.
Start building right away!
Check out our documentation to learn more about Bitpowr wallet services and other related products.
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