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bitqueria threw his streaming API in early March, giving users access to blockchain data in real time.
With Bitquery APIs, Web3 developers have had access to vast amounts of data from more than 40 blockchain networks. As the demand for blockchain data continues to grow, Bitquery has been at the forefront of providing reliable and comprehensive data to its users. Streaming API is the latest addition to the Bitquery API suite and offers a fast and efficient way to access blockchain data in real time.
With a free developer account, you can easily create a query with Built-in GraphQL IDE. While running your first query, you can consult the schema in the same tab or find answers to your questions in the documentation.
Challenges in Accessing Blockchain Data
While web3 has the potential to revolutionize various industries, it also presents its challenges.
At the time of writing, Bitcoin’s block size is rising to a whopping 465 GB, expanding at a mind-blowing rate of 124%. The Ethereum blockchain, on the other hand, boasts an astronomical block size of 879.55 GB. Capturing and making accessible the vast amount of data stored on a blockchain network is a challenge in itself.
Furthermore, the data must be cleaned and stored in a standardized and structured format to be useful for all applications. Don’t forget the thousands of engineering man-hours required to get to this stage.
Without indexing, developers would have to search an entire network of blockchains to find the specific data they need, which would be time consuming and inefficient.
That is why it is important to have a system for filtering or locating the data, and here the possibility of consulting the data of the block chain comes into play. Querying blockchain data means asking specific questions or making specific requests for data that is stored on the blockchain network without having to filter through large amounts of irrelevant information.
Bitquery APIs give developers the ability to query blockchain data quickly and easily, using an easy-to-use browser and GraphQL interface.
What is the need for Blockchain data?
By providing real-time data about the blockchain, including transactions and exchanges, Bitquery enables people to make informed decisions and take advantage of opportunities in the blockchain space. This is particularly important for individuals and small businesses that may not have the resources to access blockchain data for useful information.
Bitquery’s streaming API also allows developers to build decentralized applications (DApps) that provide financial services on the blockchain, such as lending and lending platforms, further expanding financial inclusion. Ultimately, this level of transparency and access to information helps drive innovation and growth in the blockchain space.
Some common use cases for Bitquery Streaming APIs
There is a lot going on all the time on blockchain networks, but what if you only care about specific events, like trading activity or smart contract creation? Bitquery has a solution for that too!
Bitquery’s streaming API allows you to “subscribe” or listen to specific types of events happening on the blockchain in real time. This way you don’t have to keep checking for updates, you can just ask the streaming API to notify you when something happens.
DEX trade
Early adopters of the Bitquery Streaming API are leveraging its real-time data capabilities to track and analyze macroeconomic events in the crypto market, including decentralized exchange (DEX) trading.
For developers creating trading bots and algorithmic trading platforms, the DEX Transactions API provides information on the latest price, volume, and transactions for specific tokens on various DEXs such as Bitcoin.com’s Uniswap, PancakeSwap, and Verse DEX.
Compliance and Investigation
If you work on the compliance team of a crypto exchange, you can use the Bitquery Streaming API to keep a close eye on your transactions and quickly spot any suspicious or illegal activity. These APIs allow you to filter transactions based on things like amount and recipient address. And the best part? You can set up webhooks to monitor different wallets and receive real-time alerts whenever something suspicious happens. So you can sit back, relax, and let the Bitquery API do the heavy lifting for you!
Whale Tracking and Institutional Accounts
News such as “Shiba Inu moves X% today as a massive number of SHIBs worth so many millions have been moved by a whale” can indicate significant shifts in market sentiment and impact the value of an asset. Create your own trackers to track the movement of the assets you care about.
Transfers and NFT operations
Staying up to date with the latest NFT transfers is crucial for anyone interested in the NFT market. The Bitquery NFT API is a powerful tool that allows developers to get real-time metadata, property data, transfer data and pricing information for NFTs on various blockchain networks. With this API, developers can easily create apps that interact with NFTs and provide users with up-to-date information about their favorite NFTs.
Do you want to see how you can visualize the Streaming API in real time? review the API Visual Demo.
Blockchain data in the cloud
Bitquery blockchain data is not limited to just GraphQL interfaces. It is now possible to access this data through Amazon S3, and Bitquery plans to expand this service to cover all major cloud data providers. This means that developers will have easy access to all the indexed blockchain data they need, all in one place.
Need help getting started? Contact the Bitquery team at telegramhis official community either discord.
image credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or a solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
