BitcoinAverage.com, one of the first apps to create a bitcoin price index has announced a new version of its cryptocurrency WebSocket API. The team developed a new and improved version that provides quicker updates with less bandwidth.
The WebSocket API is the most requested and popular tools with BitcoinAverage’s enterprise clients. Its real-time price updates are invaluable for all businesses that want to perform any type of price analysis as soon as soon as the market moves.
The first implementation of the WebSocket API provided price snapshots at set intervals, with the intervals being different for every level of paid plan.
With the old version, inefficiencies appear because these snapshots are being sent even if the price does not get updated. For less active cryptocurrencies that get traded only for a few hours per day or some that stay inactive for a week, this is highly inefficient.
New WebSocket v2
The new version actively listens for price changes from all the major cryptocurrency exchanges. When a change occurs, the BitcoinAverage index is immediately calculated and the price is pushed through the new WebSocket channels. This allows for lightning fast updates even faster than a second, especially for popular markets like Bitcoin to US Dollar (BTC/USD) or Ethereum to Bitcoin (ETH/BTC). It also saves resources and bandwidth on markets that are updated less often. The WebSocket API v2 consists of two channels – one for Index (Ticker) data and one for raw exchanges data.
This v2 API is available only to Enterprise plans. Free users can contact BitcoinAverage to get a promo code that will grant a free 15 days of the Enterprise plan.
More information can be found in the documentation for Websocket API v2.