The web3 space has been going through a very rapid development and growth over the years, aiming to create a decentralized and user-centric internet. Cost-effectiveness, ease of use, and reduction in the necessary time for deployment are just a few of the long-term benefits that the web3 world is aiming to provide to the end user when the market matures.
However, as of now, when it comes to web3 developers and builders, the creation of an app can be very expensive and may require a lot of time and manpower. Crypto APIs solutions provide an infrastructure layer which dramatically reduces development costs, go-to-market time and can cut costs for hiring new personnel.
For web3 builders who are managing a crypto project or are interested in building dApps on any of the smart contract enabled blockchains it might be vital to receive real-time notifications for events that take place on the blockchain. These real-time notifications are also known as webhooks.
To further understand what and how webhooks work and how to set up webhooks with Crypto APIs, you can navigate to one of our previous blog posts, called “Webhooks: push notifications for blockchain events”.
Can webhooks save a lot of requests?
Compared to the traditional polling-based methods, webhooks can help save a significant number of requests. In a typical polling-based approach, an application continuously sends requests to check if there are any updates or events of interest. This can result in a large number of unnecessary requests, especially if the updates or events occur infrequently. Polling can consume unnecessary resources, bandwidth, and processing power on both the client and server sides.
Webhooks, on the other hand, follow a push-based model. Instead of continuously polling for updates, the source application sends a webhook request to the registered callback URL only when a specific event or update occurs. This eliminates the need for frequent requests and reduces unnecessary network traffic.
Blockchain events and webhooks combined
By combining blockchain events and webhooks, developers can create event-driven architectures and build applications that respond to changes happening on the blockchain in real time.
The blockchain events are specific occurrences or conditions defined within smart contracts. They can be triggered when certain actions or transactions take place on the blockchain, such as a new token transfer, contract deployment, or specific data being updated.
As an example, the Ethereum network can provide the ability to emit events as part of a smart contract execution.
The Crypto APIs solutions are providing certain blockchain event endpoints, which allow clients to subscribe to a single one, make combinations of several, or opt-out for all endpoints. When a particular event occurs on the blockchain, clients will receive a callback notification.
Our webhooks designed for blockchain events enable businesses to integrate real-time decentralized data into their centralized applications. By utilizing Crypto APIs, users are freed from the need to constantly poll or maintain a server running 24/7. This not only saves valuable time and money but also keeps our clients at the forefront of a competitive market.
If you're interested in learning more about webhooks, blockchain events or how the Crypto APIs infrastructure can help you develop or scale your business, feel free to reach out to our team today.