Gildera API Provides Functionality for Bitcoin Apps

Gildera API makes it possible for bitcoin apps to harness the functionality needed to buy and sell the cryptocurrency. In particular, this feature makes it possible for users to transact using bitcoin from the wallet of their choice while putting focus on security.

Wallet Developers can use the API to provide their users with this enhanced functionality, thereby eliminating common issues such as users not being sure what to do when they see a zero BTC balance, users struggling with complicated transactions meant for professional traders, users regularly needing to wire money offshore, and so on.

API for Bitcoin Apps

To access this API, bitcoin apps developers need to create an account on sandbox.gildera.io to manage their partners’ access keys. According to the API documentation, the sandbox is functionally equivalent to the production Glidera system except that 1) it uses the bitcoin testnet instead of mainnet, 2) will not issue calls to back-end KYC/AML vendors, 3) does not issue ACH/EFT payments, and 4) supports test data to facilitate error generation. It will provide all the proper responses so wallet applications can test their Glidera integration.

Of course, the API assumes that bitcoin apps and wallets are produced by software companies or open-source projects with no regulatory responsibility or legacy financial system transaction capability. The Glidera API is designed to provide these valuable capabilities while reducing or eliminating wallet partner regulatory exposure.

This is because Glidera handles interactions with legacy financial systems and provides benefits such as regulatory compliance, bank transfers through the ACH system, fraud management and access to competitive conversion rates.

Most Glidera functionality is available directly through the API and can be used to build forms within the wallet application. To comply with banking partner requirements, sensitive user data (payment information and social security numbers) is not accessible by wallet partners. Forms which collect this data must be presented to users by loading secure Glidera web pages within a browser, iFrame, or WebView. As such, payment information and SSNs are absent from the API Endpoints.


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Bitcoin has been around for about 6 years now and one of the main reasons for it to become popular is its use in illegal transactions. In its early days, bitcoin was adopted as a safe and anonymous payment method for buying, selling drugs and other contraband. Platforms like Agora and the now defunct Silk Road have been running exclusively on bitcoin.

As time progresses, these older bitcoins have seen a lot of transactions, many of them illegal. We know that the complete transaction history of each bitcoin can be accessed from the Blockchain. There are many tainted bitcoins out there which were part of illegal deals and some people may prefer not to use due to possible legal repercussions. This makes freshly minted bitcoins more attractive as they wouldn’t have a long transaction history.

Freshly minted bitcoins are usually awarded to miners and until now there was no single place available where one could exchange old bitcoin for newly minted ones. BlockTrail, the Amsterdam based Bitcoin API provider has announced the launch of its new bitcoin “exchange” Mint. Mint is one of the kind exchanges where one can exchange or swap their old bitcoins for freshly minted ones.

Mint intends to encash upon the impending scarcity of fresh bitcoins as the difficulty level of mining increases. Increase in difficulty levels will automatically result in reduced block rewards and once it happens there will be a dearth of fresh bitcoins. Mint’s business model challenges the concept of bitcoin fungibility as every bitcoin regardless of its age should have the same value. But BlockTrail’s CEO Boaz Bechar disagrees. According to him, fresh bitcoins should command more value than the older ones.

While defending Mint, Bechar argues that unlike other bitcoin transactions, Mint allows people to buy bitcoin whose source can be verified easily on the Blockchain and they are proud to be the first ones in the market to offer such service. Operational since July 9, Mint is currently charging 10% of the bitcoin value for swapping old bitcoins with newer ones.

READ MORE: BlockTrail API: Adding Bitcoin Functionalities with Ease

One of the biggest roadblocks to tapping bitcoin functionalities in various applications is the amount of effort needed to understand how the protocol and ecosystem work. After all, bitcoin is tied with blockchain, which is a public ledger of transactions updated by a network of computers solving complex algorithms.

What BlockTrail offers is a way to sidestep these barriers to entry and simplify the approach of adding bitcoin functionalities in your app or website through its API and developer tools. Rather than making developers devote a lot of time and effort in figuring out the necessary steps, BlockTrail offers a selection of reliable and secure tools that could help speed the process up.

Integrating Bitcoin Functionalities

For instance, the Blockchain Data API offered by BlockTrail allows developers to pull raw data from the entire Bitcoin network. This includes transactions, wallet addresses, blocks, the number of confirmations on certain transactions, and much more.

Bitcoin companies or online merchants that want to create a bitcoin wallet service could make use of BlockTrail’s Wallet API, which can even integrate BlockTrail’s multi-signature security to offer a complete and secure wallet solution.

Other features include an Explorer, which can be used as an online data analytics platform for the Bitcoin blockchain. There is also a Web Wallet feature and a testnet support for developers. What’s interesting is that BlockTrail is not charging fees for developers to access bitcoin functionalities in its Developer Platform.

“Our goal is to encourage the Bitcoin economy by providing a secure, reliable and fast way to build and transact with Bitcoin,” says the company.We wanted to share this technology with the rest of the world to give more people and companies the tools they need to enter and conduct commerce in the Bitcoin economy.  Our goal is to lower the technical barriers of entry to increase adoption and Bitcoin’s place in world commerce.”

 

We have so many messaging applications available for mobile phones these days, and it will not come as a surprise to know that most smartphone users have more than one messaging application installed on their phones. People have started using instant messaging (IM) for both personal and professional purposes. Similar to the ever growing number of IM apps, the number of Bitcoin wallet services available to Bitcoin users is also growing. As the Bitcoin community grows, the number of Bitcoin transactions are also increasing.

Conventionally, we send Bitcoin from one wallet to another by using a public key. The public key is an equivalent of wallet address to which the Bitcoin can be transferred. SendChat decided to club both IM and digital currency on to a single platform. This relatively new start-up included Telegram, a widely used IM platform along with BlockTrail to create a platform that can be used to send messages and Bitcoins with the same degree of ease. Both Telegram and BlockTrail’s Bitcoin API are known to be very secure platforms in their own domain.

SendChat had recently entered into a partnership with BlockTrail to receive access to BlockTrail’s Bitcoin API for secure Bitcoin transmission. Within weeks of announcing its partnership with BlockTrail, SendChat has got another announcement to make. This time, about its acquisition by BlockTrail. While the terms of this acquisition is still unknown, the message on SendChat’s website says “SendChat has been acquired; SendChat is happy to join the BlockTrail family”.

READ MORE: Digital Currency Investor Acquires Paylvy.com

The Amsterdam, Netherlands based BlockTrail has announced the acquisition of the digital currency messaging app in one of its blog posts. The blog post mentions the news of acquisition along with a welcome message to Alejandro De La Torre, the founder of SendChat. As a part of BlockTrail’s team, Alejandro will be leading the company’s business development and marketing efforts.

SendChat allowed users to send and receive any digital currency of choice and supported about 30 different fiat currencies to buy digital currencies inside the application itself.

READ MORE: Volabit’s Jamie Is Now at Your Service

Months after staying in a private beta stage, Bitcoin startup Gem recently matured itself into a fully functional API, available to be exercised by developers around the world to simplify and secure Bitcoin app development.

A voluminously reported platform thanks to its “further voluminous” seed funding results, Gem was undoubtedly gaining recognition for its profoundly handsome objectives. Back during the infant days, the startup claimed that their API could be used to create digital currency apps within the matter of minutes, with minimal line of codes. The spotlight later helped Gem raise around $3 million in seed funding by a number of major investment firms, with many calling the startup as a “game changer”.

Gem Bitcoin cryptocurrency

Now with a full-fledged launch, Gem seemed to have lived, at least, up to its own expectations. This would-be groundbreaking technology is out in open where it can be accessed by both small and bigwig developers. In a separate mailer provided to NewsBTC.com, Gem has also announced to aid small developers by making its services “free”. This one step could easily boost its adoption rate within “the matter of minutes.”

Bank-Grade Bitcoin Security

Despite being equipped with all sort of security layers (2-3 multi signature, multi authentication, and custom rules engines to monitor transactions), Gem hints to be prepared for the unimaginable Bitcoin thefts, even when it involves the hardly-practiced hardware access. The company, out of its pure concern, has therefore integrated a first-in-the-Bitcoin-industry Custom Hardware Security Modules with the help of Thales e-Security, an additional cover that literally makes their security level as equal as those of banks. The same security service is currently being exercised by some of the world’s largest banks, as well as by military to encrypt confidential information.

The developers involved with Gem API therefore can excuse themselves from worrying about the security, and can rather channel their strength towards developing the cutting edge apps for the booming Bitcoin world.

“Bitcoin is really hard, but building with it shouldn’t be,” Gem envisions.