API (Application Programming Interface)
Quick Answer
An API is a set of protocols that allows software applications to communicate. In crypto payments, a payment API lets merchants create payment requests, check transaction status, and receive webhook notifications programmatically.
Full Definition
An API is a set of protocols and tools that allows different software applications to communicate with each other. In crypto payments, a payment API lets merchants programmatically create payment requests, check transaction status, process withdrawals, and receive webhook notifications. REST APIs are the most common format, using JSON payloads over HTTPS. SpacePay provides a REST API for merchants to integrate crypto payment acceptance into any platform, with full documentation at docs.spacepay.co.uk.
Related Terms
Account Abstraction
Account abstraction is a blockchain upgrade that allows smart contracts to act as user accounts, enabling gasless transactions and simplified checkout without requiring customers to hold native gas tokens.
Address
A blockchain address is a unique alphanumeric identifier representing a destination for sending or receiving cryptocurrency on a specific network.
Airdrop
An airdrop is the distribution of free cryptocurrency tokens to wallet addresses, typically used for marketing, community building, or rewarding early adopters.
AML (Anti-Money Laundering)
Anti-money laundering (AML) refers to laws, regulations, and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income through crypto payment systems.
Atomic Swap
An atomic swap is a peer-to-peer exchange of one cryptocurrency for another without a centralised intermediary, using hash time-locked contracts to ensure trustless execution.