In the emerging market of Cryptocurrency, all the stakeholders are looking for better tools. An interesting development has come up that promises faster updates of real-time information with lesser bandwidth.
The second version of Cryptocurrency WebSocket API that has been brought to the market by BitcoinAverage.com, who are the pioneers of creating Bitcoin price index. Most of their clients deploy the WebSocket API tool for their operations making its demand is quite high. Whenever the market experiences a change, every business has the crucial requirement of conducting price analysis. The price data needs to be procured as fast as possible and v2 does precisely that.
The previous version was working fine, but it had certain drawbacks. The price snapshots were taken at predefined intervals, where the number of intervals differed for different levels of paid plans. These snapshots were being sent even when there were no updates in the price and this was hampering the efficiency.
With the new version, a change triggers the immediate calculation of the Bitcoin Average index and new WebSocket channels (Index data channel and Raw exchanges data channel) are used to transfer the price. This process is the prime factor that enables the reception of updates with lightning speed. Even for the most popular markets like Bitcoin to US Dollar conversion, the speed doesn’t slow down due to the load and the required updates are available in milliseconds.
The v2 API is accessible to those users who have subscribed to the Enterprise plans. A free 15 days subscription to the new users of Enterprise plan is also available.