Today, BlockCypher released their much-anticipated Payment API, which enables a quick and reliable way for users to accept payments. The API generates a unique address, monitors the payment, forwards it and notifies users when the payment has been received.

BlockCypher’s Payment API also allows users to send payments from a standard address to a multisig address, which makes the move to more secure operating procedures possible.

It’s fantastic to see greater efforts to secure wallets; this development is a win for Bitcoin users and the community at large, as it helps mitigate the risk of theft and loss.

Furthermore, BlockCypher’s Payment API essentially gives away the payment processing technology behind merchant services such as Coinbase. Of course, offering multiple choices for services only strengthens the ecosystem by providing more choice and competition.

Co-founder Catheryne Nicholson says:

“[Our] Payment API removes the dependence on merchant processors for payments.”

Nicholson further explains that their release “allows developers to build automated payment applications without being locked in by a merchant server provider’s account,” adding that “it basically jailbreaks payments.”

- BlockCypher's Home Page

BlockCypher has received a lot of positive mention in the past month for their innovative technology, and their new API seems to be another great success for the company, Bitcoin users and the community.

BlockCypher is described as ‘Amazon Web Services for Bitcoin.’ The company enables developers to build, monitor and secure all block chain transactions. They offer Web services such as double spend notifications, multisig API, and a zero-confirmation confidence factor.

They also support multiple blockchains on the same infrastructure; each blockchain they host gets all the same web services applied to it.

The Payment API was released due to high demand by developers who wanted a service that was more reliable and flexible than the current payment API options.

BlockCypher is not yet a household name in the Bitcoin industry, but co-founders Catheryne Nicholson and Matthieu Riou are working hard to change that.

You can check out all of their web services here.

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