There are several types of blockchain APIs available, each designed to serve a specific purpose within the blockchain ecosystem. The common types of blockchain data api are explained in the sub-sections below. However, depending on the blockchain network and use case, there may be other types of APIs available as well.
Node API
Access to a node on a blockchain network is made possible by a node API. Developers can submit transactions to the network and get data from the node, including transactions and blocks. To create decentralized applications and communicate with the blockchain network, node APIs are generally employed.
Smart contract API
Smart contracts are self-executing contracts that have the terms of the contract stated in lines of code. A smart contract API provides access to smart contracts on a blockchain network. It allows developers to create, deploy and execute smart contracts, as well as interact with them. Smart contract APIs are typically used to build DApps that require smart contract functionality, such as decentralized finance (DeFi) applications
Wallet API
With the help of a wallet API, developers can control Bitcoin transactions by having access to a blockchain wallet. It enables users to monitor transaction history, transmit and receive cryptocurrencies, and check wallet balances. Applications that require cryptocurrency payments, including e-commerce platforms, are frequently built using wallet APIs.
Market data API
Real-time market data for cryptocurrencies and other digital assets is accessible through a market data API. It can be used to get market parameters such as trade volumes, trade prices and other metrics. Building applications that need real-time market information, such as trading platforms, often uses market data application programming interfaces.
Identity API
A blockchain network’s identification API offers a mechanism to confirm the users’ identities. It can be applied to numerous blockchain applications to manage digital identities and verify users. Identity APIs are frequently used to create applications, like online voting systems, that demand user authentication and verification.
