BUIDLing in Times of Bear Market: Crypto APIs 2022 Recap

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Crypto APIs Team

Dec 21, 2022 • 4 min

The past year 2022 was not an easy one for the crypto world. In fact, it is even believed to be the most disastrous one for the industry so far. We saw companies rise and fall, exchanges collapse overnight, tokens get devalued by a tweet and disappear from the blockchain landscape in a glimpse. Investors were on a constant roller coaster that was mostly going down and many of them saw their portfolios burn down in a matter of hours.

The global cryptocurrency market valuation has dropped with 63% in 2022 to $844 billion dollars. At the same time bad actors took advantage of poor security and loopholes in consensus mechanisms and stole billions of crypto. The passing 2022 is also the biggest year for hacking on record with over $3 billion dollars being stolen across 125 hacks.

In these hard times, many started questioning the power of cryptocurrencies and their real value. But not us. We believe in the potential of blockchain technology and we know it’s gonna survive this market crisis and emerge even stronger.

Crypto Winter is Time to BUIDL

In 2022, we, at Crypto APIs, kept on BUIDLing despite the bear market, guided by our own purpose - to facilitate the adoption of blockchain and cryptocurrencies among businesses and institutions.

We continued to improve our blockchain infrastructure suite to make the interaction with multiple protocols and networks easier, faster and more secure. Our products help a number of crypto and blockchain businesses optimize their infrastructure costs, without compromising the quality.

We launched 37 new API endpoints and added support for 2 new blockchains - BNB Smart Chain and TRON. In addition, we implemented numerous improvements to our existing infrastructure and added multiple new features and functionalities to our dashboard.

Here is a recap of what we did in 2022:

ISO Certification Acquisition

We started the year strong with acquiring an ISO/IEC 27001:2013 certification to strengthen our commitment to safeguard our clients’ data. This marked an important milestone in our company’s journey to maintain uncompromising security and privacy standards, practices, and procedures and adopting quantum-safe blockchain technology.

Our compliance was validated by one of the world’s top testing service providers TÜV Rheinland, a company with over 150 years of experience.

Improved Design and UX on Website and Dashboard

In the first months of 2022 we were also focused on working hard to improve the design and UX of our product website. We launched a new, more user-friendly website that is easier to navigate and better represents our products.

The customer dashboard also went through an overhaul to provide a more modern and sleek design. We simplified the user navigation and interface, introduced a new section with statistics and company details, and improved the help section with quick links to all that you need and more.

Node as a Service and KMS Releases

During the summer of 2022 we also managed to release two new products to answer the growing demand for them from our customers - Node as a Service and Key Management System.

We started offering globally distributed node services to support crypto projects that need direct access to blockchains using JSON-RPC. Our Node as a Service provides the options to choose from three different types of deployment: shared, dedicated and self-managed nodes.

The need for a self-custody solution for key management led to the creation of our open-source key management system. It’s a Node.js SDK library that allows businesses and organizations to have full control of master private keys, master seeds, and mnemonics.

It is integrated with Crypto APIs endpoints for syncing xPub, deriving wallet addresses, listing wallet addresses, getting fee recommendations, preparing the transaction with the right data, broadcasting locally signed transactions and more.

Block Explorer Revamped

Redesigning and improving the functionality of our block explorer - https://blockexplorer.one/ was also one of the goals we were able to achieve in 2022. We created a better UX, improved the data structure and introduced new features and functionalities to ensure our customers can easily navigate to the information they require.

New Company Legal Structure

In the last months of the year, we initiated a major step as part of our ongoing expansion roadmap and plans for development. We reorganized our legal structure and established an office in Delaware US, under the name Crypto APIs, Inc.

Following this change, we also switched our subscription pricing plans from EUR to USD and upgraded our existing model for API Requests Credits.

Looking Forward to 2023

BUIDL is about building and contributing to the ecosystem to help it evolve and expand. Blockchain is here to stay and its value remains even in bear market conditions thanks to the countless applications it has.

We have big project releases coming up in the first quarter of 2023. This includes adding several new blockchain protocols to our suite - Polygon, Stellar, NEAR and Tezos.

But that’s not all. We are building something new and really exciting that will completely change our product suite. Soon, we will share more about that.
Tough times don’t last, tough companies do.

So, we keep on BUIDLing.

Cheers from the Crypto APIs Team.

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