Application Program Interface (API) will be Crucial for the Future of Crypto
When building an application a perfect product owner knows what to add to the development and what to throw away. You need to look at the extent of development required, potential use cases from market research, and feedback from their active user base. For new features, development can take months and can be a potential waste if it becomes useless to the user. This is where the application program interface (API) comes in handy to save all the exhausting work through trial and error.
So what is an API?
As defined by Google, API is “a set of functions and procedures allowing the creation of applications to be able to access the features or data of an operating system, application, or other services.” In other words, an API allows you to connect a product feature already built giving you it to use directly on your app.
So let’s say Bob has a nice messaging system built as a mobile app. Sarah has an e-commerce website but needs a messaging system to allow her users to speak with admin sellers. Instead of having her developers spend 3 months on building a messaging system, she connects to Bob’s API and voila! She has a messaging system ready in one week.
So how will this help the Crypto Industry?
Crypto projects in the seen are community driven businesses. You have many different projects that specialize on specific features from Pillar, a wallet and messaging system to Kyber network where you can do token swaps. Having companies offer their integrated features can in fact speed up the development of different application, interconnecting the crypto industry to gain traction.
When it comes to business models, a monthly fee or shared revenue approach can in fact benefit the industry to grow with this utilization of these API’s.
Cryptomood’s API’s
CryptoMood will soon offer the ability to connect and allow other businesses, such as portfolio management applications and exchanges. This gives access to all aggregated data feed to let Artificial Intelligence and Natural Language Processing do the leg work for daily traders while having a perfect view of the mood of the market. This is the next step to bring a more fulfilled usage to the industry. The time is now to bring together projects while the market begins it’s rebuild.
You can try CryptoMood today by downloading our app on Google Play or IOS. You can also plan your charts by using our Pro Desktop version at pro.cryptomood.com. Don’t forget to join our Telegram and signup to our Newsletter to get more updates from us as we keep improving our application’s experience.
