API Network Crowdsale to Advance Plug and Play API Marketplace

Share Article

Developers of the API Network (http://www.APINetwork.co), a plug-and-play, open source API marketplace, today announced that the API Network will be launching its crowdsale of digital tokens (known as XAP) this Wednesday June 18th 2014.

The API Network empowers developers to expand the functionality of their applications without the need to repetitively learn different proprietary APIs. Beginning at 11:00 A.M. CST on June 18th, the API Network will launch API Coin (XAP). XAP will be the token in which the API Network marketplace transacts. The digital tokens will be issued using the Master Protocol, a secure layer built on top of Bitcoin that enables the creation of smart properties. A total of 3 million XAP tokens will be generated during the crowdsale which represents 30 percent of 10 million tokens total that will ever be issued. XAP will be released in stages based on volume, rewarding early participants with a significantly lower price for XAP.

Web service owners are incentivized to connect their APIs to the API Network in return for compensation in API Coins (XAP) for calls made to their web service APIs. Developers pick and choose APIs from the API Network marketplace as building blocks to their own applications. End-users begin playing with those applications and XAP are then rewarded to the web service owners bringing the API Network full circle.

Curtis Lacy, the API Network’s lead architect presents a bold mission statement. "The goal of the API Network is to take all the APIs in the world, and provide a universal mechanism for querying them. APICoin (XAP) will provide a transparent and distributed way to compensate developers and service providers for their effort." Curtis has served the past two years as Engine, Inc.’s Chief Technology Officer and has led development on several crypto projects backed by the BitAngels Network.

Engine, Inc. (http://engine.co) is one of the first web services to plug in with the API Network’s marketplace. Engine’s API makes it possible for future applications to read, organize, and search all of an end-user’s messages between Gmail, Facebook, Linkedin, and 24 other platforms.

For more information, please visit API Network’s website at http://apinetwork.co or e-mail info(at)apinetwork(dot)co.

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Ryan Keenan