API (Application Programming Interface)

Definition

An API is a set of rules that allows different software applications to communicate with each other. It enables features or data from one service to be used in another application, enabling integration and functionality enhancement without the need for a deep understanding of the underlying code.

Context

For example, APIs are crucial in the crypto payment sector, enabling services to offer seamless transaction experiences. For example, a business can integrate a Cryptocurrency Payment Gateway API like BoomFi to accept crypto, simplifying the payment process for customers who prefer using crypto over traditional payment methods.