Blockchain allows data providers and consumers to exchange information directly in a single, open system instead of subscribing to dozens of centralized services around the world and programming their software to communicate with each of their APIs. It is an interface that communicates with a blockchain node or a client network directly or through another service. A good blockchain API integration example would be an interface between a Bitcoin exchange and a user application that gathers data from it.
An API (application programming interface) is a description of methods (a set of classes, procedures, functions, structures, or constants) that a single computer program can use to interact with another program. It is usually included in the description of any Internet protocol (for example, RFC), software framework, or standard call to the functions of the operating system. It is often implemented by a separate software library or operating-system service. Developers usually use blockchain API integration in dApps development services creating all sorts of applications.
Blockchain allows different parties that do not know or trust each other to maintain consensus as to the state of changes made to a shared ledger. Bitcoin is probably the most recognized use of Blockchain technology as it has enabled payment transactions between strangers without need for a third-party financial intermediary (that is, a bank). The scope of potential applications is broad and applies to almost every industry, giving rise to wide interest and investment in blockchain API integration over the past few years.
Append-only the distributed transaction record. While the intended design of Bitcoin blockchain was to democratize visibility, in an enterprise blockchain this would have to be reconsidered due to regulations surrounding consumer data.
Public blockchains such as Bitcoin and Ethereum are permission-less available for use. Any node can conduct transactions as well as take part in the consensus process to advance the blockchain.
Ensures authentication and verifiable transactions. Each new block contains a cryptographic hash of the previous block and makes it hard to break by an adversarial process in the distributed system.
Records in the nodes are cryptographically secured, with no possibility for anyone (without key access) to change the data, so there is no threat to data integrity.
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