“With Block.io, what used to take several weeks to several months to write, can now be done in a matter of hours,” founder and CEO Atif Nazir told CoinTelegraph. It works like this, he said:
“Want to create a Bitcoin wallet with Facebook login? No problem, here’s the simple API you can slap Facebook’s widgets onto. Want to create a tipping bot? No problem, here are three lines of code you can build around”
The second goal is to wave away service fees. Nazir thinks that lower fees could help cryptocurrencies flourish. He said:
“If we make interactions with that network expensive by charging people service fees, the entire ecosystem will be too expensive to use. The dream behind the Blockchain won’t come to fruition.”
In the announcement, Block.io laments an “outmoded” style of banking. “There’s no need for non-network transaction fees anymore,” it reads. The announcement is somewhat misleading, however. Block.io is providing an API that abolishes service fees but this cannot extinguish transaction (“tx”) fees entirely, because miners must be rewarded for securing the network.
Despite the confusion, according to Block.io, miners should be rewarded for securing the network, but Bitcoin companies could leave service fees in the dust.
Block.io supports BitcoinCT r: 8, Dogecoin, and Litecoin. Developers’ libraries are in languages Ruby, NodeJS, PHP, and Python, although the developers plan to tag on Java and C# in the next couple of days. They are open to adding other languages that developers ask for.
Block.io plans to be there for developers for the long haul. Nazir also hinted on future plans for when Bitcoin and digital currencies expand to uses beyond currency:
“Block.io will expand to simplify all of these mass-scale uses for any developer that wishes to interact with the Blockchain.”
The API documentation can be found here.