Introducing Upvest - The Simple Blockchain API
The potential impact of blockchain technology on many industries, with its significant benefits of transparency, trustless contracting, and automation, is indisputable. One of the most present obstacles of building a mainstream blockchain application is the difficulty of keeping up with the standard of traditional web applications in the dimensions of usability, speed, and reliability.
Achieving this requires a high degree of specialized knowledge about blockchain technology. Rather than concentrating on the core features of the application, much time is spent with building and maintaining the blockchain infrastructure. However, let us go a bit more into detail here. What exactly is necessary to create a successful blockchain application?
Create User Wallets
An essential part is a blockchain wallet. It is the core of blockchain applications, represented by the public key and secured by the private key. A wallet stores the public and private keys which can be used to receive or spend a cryptocurrency. The challenge is that users strive for intuitive and fast access to applications. Private key management is still very unintuitive for a non-technical person and tough to handle for the application developer from a technical and legal standpoint.
Send and Monitor Transactions
The second most crucial part is sending and receiving funds. Blockchain companies need to run a full node which is publishing the transaction to the respective blockchain network. Moreover, it is important that the sender and recipient get alerted, once a transaction has been confirmed.
Living up to the expectation in all three dimensions has substantial consequences:
It requires resources. Unless you have blockchain developers, your team has to learn how to develop wallets and handle transactions. Connecting to protocols is not an easy task. Setting up a reliable infrastructure can take up to 6 months.
It requires maintenance. Protocols get constantly updated. You have to make sure wallets and transactions keep on working over time, which is distracting you from your core features.
It has compliance and safety risks. As the whole industry is in a relatively novel state, you are facing a high risk of sudden changes in regulation which could profoundly impact the way you set up your tech stack.
Summarizing, running your blockchain infrastructure is very resource intensive and carries along the ongoing distraction of maintenance and regulatory risk.
Introducing Upvest - Simple Blockchain APIs
Our goal is to make developing on the blockchain for any kind of use-case as simple as possible. That is why we have created APIs to easily integrate blockchain protocols (Bitcoin, Ethereum, ERC-20, ERC-721) into your application.
The idea is pretty simple. We provide you with a comprehensive toolkit to build reliable and fast applications with stellar user experience:
Create a user with a wallet on one or more desired protocols in just minutes. Besides, you can offer your users access to their wallets using a combination of username and password with a simple way to manage their private keys. Furthermore, you can empower your users to send and receive transactions instantly with just one API call. Monitor transaction confirmations and get suggestions for the perfect fee amount, depending on the importance of your transaction and the traffic on the network.
Explore live transaction and wallet data for Bitcoin and Ethereum, among others. This includes block information, wallet balances and transactions. To make the data stream even more reliable, we conveniently push the data using webhooks.
Combining all those three key features, you can build a highly customizable blockchain application in no time.
Who We Are
Upvest is a Germany based tech-startup founded in late 2017 by Martin Kassing and Jesper Noehr with the mission to empower developers building great financial apps. We have made successful companies like Bitbucket (now Atlassian), Savedo (now Deposit Solutions) or ShopCo (now Klarna) before and benefit from profound knowledge in both, the blockchain and the finance space. Currently, 20 employees are working for Upvest. Upvest is supported by Europe’s leading investors such as Holtzbrinck Ventures and Speedinvest.
Does our solution sound interesting to you? Get early access and try it for free. We would love to hear your feedback! In the meantime, stay tuned for upcoming news, we are just getting started.