Earlier this month, TAAL announced a partnership with Codugh, which is developing an API marketplace for developers. We wanted to share with you the investment thesis, and why we are so excited about this partnership.
What Codugh offers is a simple, yet powerful Application Programming Interface (API) marketplace. Here developers can list and earn money from usage of their APIs. For the first time, Codugh is bridging the gap between blockchain business ideas and economic opportunity. Developers can get compensated in real-time for their code through the micropayment feature on the Bitcoin SV (BSV) blockchain. For consumers, the marketplace allows them to browse and choose an API that suits their specific needs before paying in BSV.
APIs are the backbone of internet services. When a consumer uses an app, the app sends a request for information, or a “call”, to its API, which returns data to the client. Developers now have access to an integrated marketplace where they can create and deploy their APIs. They can also monetize that work by uploading the software interfaces, or endpoints, to Codugh, getting paid in real-time every time their API is called.
Although API marketplaces have existed for some time, their business models were based on subscription fees. Codugh differentiates from the traditional subscription-fee business model by creating a service that works on the BSV blockchain, utilizing the micropayments feature. This network can handle on-demand, real-time payments. Thus, Codugh has solved the problem of paying developers for producing new innovative services.
“We’re very excited about this collaboration with Codugh,” said TAAL CEO Jerry Chan. “The Codugh team complements TAAL’s transaction processing services and allows businesses and development projects built upon BSV to have seamless API integration to our platform services. This is a significant step forward in accomplishing our 5-year strategic vision.”
Through this collaboration, TAAL advances its commitment to support the BSV community and opens access to a market projected to be worth US$6.2 billion by 2024.
- KBV Research a solely owned market research brand of Marqual IT Solutions Pvt. Ltd.. (2019). The Global API Management Market Size. Retrieved from https://www.kbvresearch.com/api-management-market/