An experimental service that permits customers to pay for futures knowledge from exchanges Kraken and BitMEX with bitcoin’s in-development lightning community is now reside.
Launched by Suredbits Monday, the appliance programming interface (API) permits builders entry to info about obtainable futures contracts, particularly, in response to CEO Chris Stewart: “You will be capable of subscribe to market knowledge from these two exchanges with a cost over the lightning network.”
This knowledge from well-liked exchanges Kraken and BitMEX is generally free. In this manner, the brand new service isn’t essentially meant for use. Rather it’s a proof-of-concept for how lightning community micropayments can be utilized to acquire knowledge.
Suredbits thinks lightning will play an enormous position in the way forward for developer APIs as a result of the cost community permits for smaller funds (typically referred to as “micropayments”), making it simpler for builders to purchase small quantities of knowledge – perhaps even lower than a cent’s value at a time.
Stewart went so far as to name conventional market knowledge and API fashions “broken,” including:
“We are using [the new APIs] to showcase that lightning allows [exchanges] to monetize things that are monetized at traditional exchanges. We are pushing the idea that lightning has a multitude of benefits when integrated into an exchange’s infrastructure that isn’t just related to withdrawals and deposits.”
Lightning continues to be thought-about dangerous to make use of, with lingering bugs main some customers to lose cash. But builders are nonetheless constructing on prime of the community, because it’s extensively seen as the way forward for bitcoin funds.
Suredbits, slightly startup from Iowa, is one of some corporations targeted totally on lightning tasks. Yet, it’s a part of a rising variety of bitcoin startups tying the lightning community into their enterprise.
As one other showcase, Suredbits (which launched on mainnet earlier this month) lately revealed a “playground” builders can use to check its service for retrieving NFL, NBA, and cryptocurrency market knowledge – all utilizing lightning.
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