Instead of using the Web 2.0 method of HTTP addresses at a fixed location on a single server, Web 3.0 will be built on the .
The shift from the transaction-based websites of Web 1.0 to the interactive platform of Web 2.0 saw the progressive use of APIs. There are now more than 24,000 APIs available in the ProgrammableWeb directory.
As cloud-based computing has increased, the value of APIs has moved far beyond that of a developer’s tool.
APIs give access to existing and already tried and tested technology, allowing businesses to expedite processes, create novel solutions, increase connectivity and interoperability.
And ultimately drive revenues.
In the current Web 2.0 model, APIs collect user data that is owned by the particular API in use. For example, Google Maps can store data collected from the apps that utilize its API and then monetize that data.
These tech giants such as Google, Facebook, Amazon, Apple, and Salesforce, to name but a few, earn millions from their own monetized APIs.
Their domination of the business market has seen them become a centralized power and authority, effectively stifling innovation.
The next phase of Web 3.0 should look a little different for API developers…
APIs are, by design, all about democratic data sharing and decentralization — two defining features of the .
A Web 3.0 built on the means developers can expect an environment free from the restrictions, policies or plans of any one particular company.
With information stored in multiple locations simultaneously and no single authority or ownership, network users will have permissionless access to data and the ability to use it as they see fit.
The Challenges of Web 3.0
Web 3.0, blockchains, and their underlying ledger technologies are a world very much still in its infancy, but it is gaining speed. There are already hundreds of blockchains and more than 7000 cryptocurrencies.
This growth and variety also present a number of challenges to a fully-fledged and usable Web 3.0, mainly interoperability and scalability.
Currently, direct communication between different networks is rather limited. For example, say you create a digital asset in an Ethereum network, that asset will not be able to be communicated, traded or managed on Hyperledger technology as they don’t speak to each other directly.
APIs: A Step Towards Interoperability and Scalability
Firstly, APIs allow businesses to operate across different networks from a single point and allow them to support multiple currencies. Secondly, they also ensure companies don’t get left behind in an ecosystem that is developing at lightning speed.
Every has its own protocols, infrastructure, and ledger technologies, and all of those are constantly evolving with more being added almost every single day.
In the same way that API provided businesses easy access to the best technology in Web 2.0, APIs of Web 3.0 will take the pressure off.
Instead of trying to keep up with the technological advancements that are yet to come, businesses can continue to grow and scale into the future.
cripto APIs is a next-generation API provider bridging the gap between the current Web 2.0 and the rapidly incoming -based Web 3.0.
Our unified infrastructure offers enterprises an accessible and highly secure gateway to interact and innovate in the new digital age.
We already support the top protocols and cripto exchanges and we are constantly monitoring the market for emerging trends. Anything new, we immediately integrate it into our system so that businesses can always stay ahead of the competition.
Our infrastructure product suite can be utilized for any use case — you can build multicurrency cripto wallets exchange, digital bank, taxing and accounting, hardware wallets and many more.
Get access to unified data, subscribe for webhooks, set up a variety of automations, and have access to wide range of tools that enable the easy creation, trading and managing of digital assets.
Want to learn more? Visit cryptoapis.io
