Bitcoin data aggregator Kaiko will distribute its APIs for price indices, market data and blockchain data over Mashape’s Marketplace.
Kaiko’s data is beneficial to everyone involved in the blockchain-based digital currency economy, which has grown from zero to a market cap of nearly USD$6.5 billion in just seven years.
The robust APIs cover the key factors driving interest and volatility in bitcoin – price, market trading and transactions – and are ready for use by all developers working in bitcoin, other blockchain-based industries and financial services.
“Mashape allows us to focus on the important things, namely collecting and generating insightful data on the global bitcoin network, without worrying about managing API users,” said Kaiko founder and CEO Pascal Gauthier.
“We’ve developed APIs that are designer friendly – well designed and well paginated – and we’ve designed a few smart aggregations (Price Index, balances, unconfirmed transactions) which should make life easier for developers looking to work on the blockchain.”
Bitcoin provides a platform for electronic payments to be sent anywhere in the world within seconds, and settled with finality in around 10 minutes. Distinguishing it from other digital payment platforms is the fact that it does not require a third party, such as a bank or government, to do so.
A key component in achieving this is the ‘blockchain’ – a cryptographically-confirmed record of all transactions since the beginning of the network. Bitcoin’s blockchain is publicly available, and includes information such as sending and receiving addresses, times, and amounts.
Needless to say, the blockchain has been a huge hit with data hounds who use it to study money movements and patterns for corporations and individuals, provide wallet software, track crimes, monitor network security, attempt to identify users, and prove existence of funds.
On the market side, bitcoin’s price is notoriously volatile due to the actions of traders and speculators. Kaiko aggregates openly-available order book data from disparate bitcoin exchanges in all major markets and three most-traded currencies. It then uses this information to create more consistent price indices for each currency and a global index that reflects a bitcoin’s true value.
ACCESS TO DATA
Kaiko will provide price-based tiered access to its APIs, starting with a free-of-charge access level for users to explore basic data and use in a limited way.
The next level up is aimed at small businesses and startups with a need for more frequent API calls.
Professional users with more intense requirements are welcome to reach out to Kaiko and discuss their requirements. The company is always keen to hear about new ideas and work out techniques to support them.
Kaiko will keep adding API endpoints over time.
Kaiko highlights the following major use cases for its API data:
– For financial services: Kaiko’s robust and replicable price indices are essential for building derivative products such as futures contracts. The methodology is public, as are the weightings for different exchanges used to calculate the indices at any point in time. These indices can easily be used as a basis for financial products.
– Failover blockchain explorer for a bitcoin wallet: Wallet software providers must constantly monitor the bitcoin blockchain to stay current with transaction data. Although they generally have internal system for doing so, they must also keep services running when that internal system fails or there is an overload of requests. Integrating Kaiko’s blockchain API and calling it only in those cases is a small investment to guarantee significant improvements in uptime, latencies, and the ability to keep SLAs.
Kaiko was founded in 2014 by a team of bitcoin enthusiasts with extensive experience in data aggregation and analysis. It is led by Pascal Gauthier, CEO and Founder. The company provides Bitcoin and Blockchain data and services.