Blockchain Web Services is an API to consume blockchain smart contracts as regular web services.
In addition to this, it also integrates a marketplace for developers to publish their smart contracts and for companies to access hundreds of validated and secured state-of-the-art blockchain solutions.
We aim to help society embrace the blockchain revolution by removing infrastructure complexities from business creative workflows while improving decision-making "attributes of innovation" (Relative Advantage, Compatibility, Complexity, Triability, and Observability).
On the economics, Blockchain Web Services follows a sustainable economic and growth loop, where our ERC20 Ethereum token funds the platform's development, rewards the community for extending it, and the value grows exponentially as more companies use the API.
The first generation of blockchain (aka Bitcoin) delivered the required trust for financial transactions; Just a few years later, a second generation (aka Ethereum) stretched to countless scenarios through smart contracts. Today, new initiatives are already pushing hard to support scalability and mature growth.
But the initial hype on smart contracts is getting weighed by the blockchain ecosystem complexities, and challenges arise when discussing market adoption. Among other blockers, customers have to deal with building their solutions from scratch, find experienced developers, decide the infrastructure (blockchain) to use, secure their identity or manage how to pay network fees every time they execute a transaction.
The roadmap for getting any business value is too long; therefore, many companies decide blockchain needs to be more mature and easy to consume to get on board.
Blockchain Web Services brings an answer and a solution to all those adoption barriers.
To accelerate the smart contracts market adoption, we intend Blockchain Web Services to provide:
Figure 1. The "Amazon Web Services for the Blockchain(s)"
APIs are the preferred technology for building applications, and for this reason the global API market size is expected to reach USD 14 billion by 2030 and was worth USD 2.4 billion in 2021.
That technology should also drive the growth of blockchain smart contracts and accelerate adoption, and we are building Blockchain Web Services API to fulfill the following principles:
The example below shows a code snippet from the product MVP on how a single API interface is used to call smart contracts, passing the operation to call and the network to use - and no need to worry about managing and securying a blockchain wallet or getting funds to pay for the network fees.
var parameters = {
contract: "Ethereum.Database.Immutable",
version: 2,
network: "ropsten",
operation: "insertBytes32",
parameters: {
key: "a-key",
value: "Hello World!",
},
};
$.ajax({
method: "POST",
url: "https://api.bws.ninja/v1/call",
data: JSON.stringify(parameters),
headers: {
"Content-Type": "application/json",
"X-Api-Key": "ExV0dDszQ8QgsTVnevddpbB8cUaAfPs432ntVF8g0",
},
dataType: "json",
success: function (response) {
console.log(response);
},
error: function (xhr, textStatus, errorThrown) {
console.log(xhr);
},
});
Blockchain communities are an essential element to driving continued growth - it was in a recent article that Jack Dorsey, billionaire entrepreneur, said that it was the "network and community" behind cryptocurrency and blockchain projects which he sees as being the most crucial for advancement.
We incorporate a marketplace of smart contracts, where experienced blockchain developers will publish their work (and get a profit from it), and companies will find best-in-class solutions that are easy to use through our platform API.
Figure 3. Blockchain Web Services Marketplace.
Our goal is to boost overall blockchain adoption, whereby trust and transparency are maximized to benefit the community in as many ways as possible.
To achieve our objectives, we propose Blockchain Web Services to rule a token operating under the following principles:
Blockchain Web Services has the following actors:
Figure 4. Utility-token circular economy.
In order to build a circular economy, the related actors will use our network token as follows:
Tokens are bought for network usage and spent on network growth, creating a virtuous loop economy.
To execute smart contracts and write into blockchain, you need fuel. It is a fee required to execute transactions, like the fee you pay when using your credit card to support the network.
However, the way the blockchains work, paying those fees becomes a non-trivial activity. It's like paying at the market with your card, and having to call your bank and exchange some gold for getting your groceries.
The blockchain fee mechanism becomes a hard blocker for companies having to deal with real-time exchanges and estimate how much gas they require at any time (Figure 6).
Figure 6. Customers managing Fees to call smart contracts.
Blockchain Web Services implements an innovative approach: we trade with any required funding in real-time, so users do not have to deal with it and just pay a bill at the end of the period as they are used to.
Figure 7. Blockchain Web Services fees trading.
Companies can integrate Blockchain as they are used to consume Cloud infrastructure and services.
Token Name
Blockchain Web Services
Token Symbol
BWS
Token Type
ERC-20
Total Supply
1.1 billion - deflationary, no minting of new tokens
Token Allocation
Figure 8. Token allocation.
Vesting Periods
The founder's allocation is subject to a one-year lockup post-network launch. After the lockup period ends, these
tokens will vest monthly for another two years.
Early-stage investors have a nine-month lockup post-network launch. After the lockup period ends, these tokens will
vest monthly for another six months.