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Jul 13, 2023 • 3 min
Crypto APIs blockchain events provide real-time notifications of different activities happening on the blockchain. These activities can be transactions or specific occurrences, which we`ll review below.
It is important to remember that blockchain events are particularly useful when it comes to assessing the operational, behavioural and performance health of the blockchain infrastructure. The provision of data may have different purposes, depending on the client's particular demand for these events. Some of the aforementioned purposes could be analysis, auditing, building tracking tools and platforms, and others. The blockchain events, by definition, can “listen” for certain actions on-chain and notify when these events are happening.
Apart from the ability to listen for certain activities in real-time, such as token transfers, one of the main advantages of blockchain events is that they are much cheaper for acquiring and sharing details than using a special storage used by smart contracts.
The web3 blockchain events have limits, allowing up to 4 parameters (which are also known as topics) related to the same event to be added. Each of the parameters is 32 bytes in size. Examples of these parameters could be “owner”, “spender”, “value” and others.
For better clarity on the type of blockchain events that exist, we will go through some of the most common blockchain events that are monitored and tracked:
Block creation
Every time when a new block is added to the blockchain, this is marked as a blockchain event. In the blockchain protocols these blocks represent containers, holding a set of verified and confirmed transactions. When the block is created it is added to the existing blockchain. When more than one block is added to the blockchain a chain of blocks is created.
The creation of blocks is performed by solving mathematical equations and algorithms, called mining оr block proposal. These actions are executed by miners who participate in the network in order to solve these complex equations. The first miner to successfully find a solution is authorised to create a new block.
Transaction validation
Transaction validation is the verification process, which involves adherence to a set of rules and validation on authenticity of the transaction. Here, for example, blockchain nodes' purpose will be to independently verify the transaction`s structure and prevent double spending. With use of nodes and through consensus the validity of a transaction can be agreed and added into a block.
Network upgrades, forks & chain reorganisations
A variety of events concerning blockchain protocols` changes in a particular blockchain network can be tracked as blockchain events. Protocol changes, network upgrades, software updates, forks and chain reorganisations are just a few of the key blockchain events which can be reported to the user.
Crypto APIs Tezos Events
By gaining access to our advanced blockchain infrastructure, users can receive notifications on verified endpoints in an event's occurrence. We have recently added Tezos blockchain to the networks that we support, and our clients can monitor and be notified about the following Tezos blockchain events:
By getting on any of our subscription plans, including the free plan, our platform users can receive information about new mined blocks, confirmation on transactions and can create callbacks subscriptions for incoming or outgoing transactions of the customer with a response on each confirmation received. The latter is happening until reaching the confirmation limit of the transaction. All information from callbacks is returned per each individual address in time no greater than 100ms.
If you would like to learn more about blockchain events or if you are particularly interested in subscribing to Tezos blockchain events, make sure to get in touch with our team, and they will help with your inquiry.
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