BitcoinChain: Adding Diversity to Blockchain API’s

Bitcoin and blockchain development can take on many forms, as not every coder wants to actively contribute to the Bitcoin protocol. Some people are very passionate about building new applications and tools on top of the blockchain, which is important to the ecosystem as well. Even though there are several API providers in existence, BitcoinChain.com wants to bring something new to the table. But will they be able to become a major development platform such as Blockchain.info and Blocktrail?

Also read: ‘Blockchain Hype Will Translate to Higher Bitcoin Prices,’ Says XBT Provider

BitcoinChain.com Offers Plenty Of Services And Information

While most of the focus lies on the developer side of things, BitcoinChain.com wants to offer a multitude of services to regular Bitcoin enthusiasts as well. Among their list of features is a Bitcoin block explorer, checking on the status of the mempool — a hot topic of conversation these past few days — and a Bitcoin catalog.

The catalog displays a complete list of Bitcoin addresses sorted by the data and time when they were created. Such a tool could be quite useful for novice users who want to see the first Bitcoin address to ever exist, generated by Satoshi Nakamoto.

BitcoinPrice.com intends to act as an alternative to Blockchain.info and BlockTrail. Bitcoin users currently rely on two or three different services, even though there are multiple platforms in existence to look up transactions, blocks, or any information regarding the Bitcoin network.

BitcoinChain.com will provide current Bitcoin market information, as well as a real-time distribution of hashpower among all of the mining pools. Investors who plan to get into Bitcoin mining will enjoy using the mining calculator on the website, where they can calculate their potential return on investment.

The company also provides users with a web wallet — using the hierarchical deterministic structure for additional security. BitcoinChain gives users a small library of guides and information on Bitcoin as well. The main part of focus is their new Bitcoin developer APi, which is currently going through open beta testing.

One of the main reasons why Bitcoin developers rely on accessible API services is to let the blockchain handle all of the work under the hood. While functions have to be written in the appropriate coding language to obtain the information needed, there is little to no data centralization going on when using an API. After all, the blockchain has far better chances of remaining accessible compared to individual platforms or servers.

Competition Among Blockchain API Providers Is Good

Using a service such as BitcoinChain.com provides developers with an alternative source of blockchain information, rather than relying on blockchain.info or BlockTrail. Competition in this space is a positive thing, as it will help drive innovation in the Bitcoin and blockchain industry over the coming years.

Not that there is anything wrong with the existing blockchain API providers is existence today. However, the majority of services and apps in the Bitcoin world rely on information provided by Blockchain.info, which is becoming a centralized problem in a weird way. Alternative service providers are more than welcome, and if they take user feedback to heart, the Bitcoin and blockchain ecosystem can thrive for a very long time to come.

What are your thoughts on more companies providing blockchain API services? Will BitcoinChain.com be a good addition to the list? Let us know in the comments below!

Source: BitcoinChain.com

Images courtesy of Ottawa Citizen, BitcoinChain, Blockchain.info

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