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What does currency API mean (What does currency API mean)?

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What does currency API mean? According to official sources, currency API refers

What does currency API mean (What does currency API mean)?

What does currency API mean? According to official sources, currency API refers to a specific protocol in a cryptocurrency system or network that integrates multiple service providers (such as exchanges and wallets) into a set of smart contracts. This allows for the creation of various financial products, payment tools, or other types of applications for funding support and more.

For example, when you want to purchase a certain asset, you need to transfer $100 from your bank account to your digital wallet. If you want to trade Bitcoin, Litecoin, or some other altcoin, you can use these tokens for the transaction without the need for any intermediaries. Or if you want to sell a commodity to someone on the market, you can also use these tokens for the transaction, as they do not charge any fees.

What does currency API mean?

Currency API refers to a universal payment protocol based on blockchain technology. It allows anyone to send and receive payments through smart contracts without the need for intermediaries to complete the transaction and obtain funds.

Typically, in traditional financial systems, third-party software companies, such as payment systems like Alipay, can directly charge fees to these service providers in order to process encrypted digital assets. For example, Alipay can create an electronic wallet through which users can transfer Bitcoin or convert fiat currency to USD and then exchange it for stablecoins through scanning QR codes or other methods.

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