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How this Company is Creating an Innovative Technology for the Future of Blockchain

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(Credit: Unsplash) How this Company is Creating an Innovative Technology for the Future of Blockchain
May 24
9:53 PM 2021

In a recent study done by Statista, the number of B2B cross-border transactions finalized on blockchain worldwide is expected to increase dramatically over the next few years. In 2020, the Asian market accounted for more than one-third of the total transactions worldwide. The future forecast also predicts that in 2025, the number of B2B cross-border transactions on the blockchain will reach $745 million. This being the case, most companies have come up with innovative ways of making various blockchain technologies have a friendly user interface. One such company that has demonstrated a high level of innovation in this arena is APIS. 

APIS is led by a team of innovators on a mission to change the future of the internet. With the uptick in the popularity of cryptocurrencies, admittedly few people understand the technology behind Ethereum, Bitcoin, or other blockchain-native assets. The founders of APIS want the world to understand that access to these aspects can transform the financial, logistics, and media landscapes as we know them. Decentralization and democratization are two of the largest facets of their long-term vision for change.

Blockchain Applications: a High-Pressure Engineering Situation

The current landscape for developing blockchain technology requires some serious engineering knowledge. Developers have to learn new languages, analyze old and new smart contracts, and maintain nodes and validators for multiple layer-one and layer-two solutions. On top of the steep learning curve, even the smallest mistakes can have extreme ramifications: errors in just one line of code have repeatedly led to exploits of tens of millions of dollars. Only people with in-depth experience and understanding can simplify this process, and that's exactly what the team behind Project APIS has.

One Endpoint = Enhanced Access

Creating a read-write solution for blockchains has seldom been attempted due to the major barrier of scalability. Project APIS is architecturally decentralized but logically centralized, making it possible for client-side developers to reference common API formatting structures (RESTful and GraphQL endpoints) for reading and writing to public blockchains.

"We make it one endpoint where an engineer with a little experience can access it without knowing what's happening behind. We tried to build something higher level and simpler so we can onboard more developers into the blockchain ecosystem. That's the goal of this project. We started indexing blockchains so people can read and write to them without having to sacrifice months of their time."

Calvin Pak, Co-Founder, and CEO of APIS

For the APIS to be useful, it must expand the number of builders of blockchain-based complications. After initial product-market testing, the team at APIS pivoted toward a north star: a system where people could build blockchain apps without writing blockchain code. Also, this project is aiming towards creating a decentralized, scalable Read-Write solution for blockchains.

The Future of Blockchain: Providing Real-World Solutions

The benefits of systems like these have long-eluded the average person. The APIS seeks to change this narrative, and to begin a Cambrian explosion of blockchain-based development, asking questions like,

"What if your business could create its own savings app?"

"What if your business could offer its spot and derivatives exchange?"

The team is currently hard at work doing demos and testing, tying up all the endpoints needed to support the most desired applications, namely those about decentralized finance (DeFi), non-fungible tokens (NFTs), and data analytics.

For example:

If users want to pre-read the borrowing rate of a lending protocol, that endpoint can be provided to them.

If users want to send cryptocurrency to a vault where they can earn interest rates, that endpoint can be provided to them.

They are actively developing solutions based on real-world use cases so they can onboard developers with a purpose.

No-Code for Non-Technical Users

While busy providing real-world solutions for non-specialized engineers and coders, the APIS team has also broadened its scope. Even in the more developed Web 2 market, there is a massive movement towards no-code platforms. Programs like Bubble and Appgyver, which allow users with no coding knowledge to build apps for all form factors, have experienced rapid growth. No-code platforms are projected to grow at over 30% annually over the next decade, reaching a market size of over $100bn by 2030. Already, no-code applications have garnered significant traction from users. There's a low barrier to entry that unlocks immense possibilities; many of which entrepreneurs globally are taking advantage of it.

The experts at the APIS are focused on creating no-code solutions for builders globally. For example, they are currently testing the idea of how to build a crypto savings app without writing code, implementing integration with Bubble. This exploration has led to the early-stage development of systems that will eventually allow anyone to create their APIS gateway, or, put otherwise, their no-code solution, such as Bubble.

APIS: at the Forefront of a Revolution

The APIS serves two groups of people:

1.    For developers who lack experience with blockchain but want to build apps - they provide a suite of APIs.

2.    For entrepreneurs who are interested but find it expensive and difficult to find developers - they can build their initial products on a no-code platform.

Web 2.0 has harbored an information liberation. It is easier than ever to uncover knowledge. This alone has revolutionized and empowered an entire generation. One of the few arenas that remains centralized is digital middlemen, from financial institutions to media aggregators to logistics oligopolies.

Against that reality, the group's blockchain technology solutions at APIS aim to change the world. These solutions could render the end of centralized bookkeeping and instead, leading to a decentralized world where products are delivered to consumers without extractive middleman fees. To boot: the monopolization of this sphere by big banks and global internet institutions could, one day, be in the rearview mirror.

Conclusion

Blockchain is making a huge impact on the investment sector. This has made most companies have shares and possess a certain amount of blockchain technology in their arsenal. It's therefore necessary for blockchain companies to be flexible in all their innovative technologies so as to accommodate new changes and updates. The change-making projects the team at APIS is working on are just the beginning of something big and it's safe to say this company will play a major part in what happens next.

© 2021 VCPOST, All rights reserved. Do not reproduce without permission.
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