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Polygon, BSC, Ethereum Nodes API for dApps: Next Big Thing?
11th October 2021
Here’s why integrating blockchain nodes API into your application may be a smart bet right now, in Q4, 2021
Blockchain nodes API for dApps: Money
Liquidity structures are the DNA of every crypto-centric protocol. Decentralized finances (DeFi) segment attracted enormous amounts of money. As such, every application - from saving accounts and digital banking apps to high-risk schemes, gambling and ‘play-to-earn’ platforms - should consider moving on-chain.
To provide the context, let’s track the dynamics of ‘total value locked’, i.e. net amount of value deposited to various protocols on Polygon, Ethereum, BSC nodes. Applications on blockchain nodes API incentivize users to lock liquidity, so, this metric is 100% community-driven.
Image by DeFi Llama
According to the DefiLlama dashboard, DeFi users locked $210 billion in various protocols which is a new historic high. Therefore, the DeFi segment shrugged off recent pullback caused by Ethereum and Bitcoin prices dropdowns.
Simply put, connecting to BSC nodes or Polygon API allows your application to become a part of a twelve-digit ecosystem. With Ethereum nodes API or Solana endpoints, every application joins the Web3 revolution.
Blockchain nodes API for dApps: Users
Also, decentralized finances on blockchain APIs are witnessing massive inflow of users. As covered by GetBlock previously, it is triggered by an exodus of Chinese crypto holders. Since China officials shut down centralized cryptocurrency services, DeFi has become the last resort for traders and ‘yield farmers’.
Probably nothing. pic.twitter.com/7zSHSyrgLQ— Mihailo Bjelic (@MihailoBjelic) October 2, 2021
According to the data shared by Polygon’s co-founder Mihailo Bjelic, both total addresses and active addresses metrics spiked to new highs in early October. All of these addresses will be utilized in DeFis on Polygon nodes API.
Another wave of hype around non-fungible tokens (NFTs or digital collectibles) is one more powerful catalyst for users to inflow to Web3 dApps.
Leading blockchain analytical platform Messari recently noticed that the net amount of all NFTs secondary sales surpassed $10 billion.
The NFT market officially surpassed $10 billion in secondary sales combined across a variety of categories including gaming, PFPs (profile pics), sports, and collectibles.— Mason Nystrom (@masonnystrom) October 6, 2021
Ethereum leads all blockchains and Layer-2s with over $6 billion in secondary NFT sales. pic.twitter.com/R3sA35cW4q
Mostly, this trend is driven by the applications on Ethereum nodes API. Web3 dApps on the first smart contract platform are responsible for 60% of NFT sales.
DeFi, NFTs, GameFi… Whatever is next, your product can join the club of unicorns with GetBlock nodes connection. BSC API, Ethereum API, Polygon API integration will empower your dApps with an unmatched level of security and transparency.
Blockchain nodes API for dApps: Experts
Last but not least, Web3 segment aggressively siphons the best experts in engineering, marketing, promotion, design from ‘classic’ digital sphere.
In Q4, 2021, almost every start-up is on a hiring spree, so, one your product migrates to blockchain nodes, you will be able to choose between the top candidates.
Long story short, blockchain nodes API - Polygon, Ethereum, Binance Smart Chain, Solana, Avalanche, and so on - are revolution in the making. Connecting to blockchain nodes is an unfair advantage available for a plethora of digital businesses right now.