How does the REST API differ from websockets in the context of digital currency exchanges?

3 answers

• Sigitas PetrauskasJun 25, 2024 · a year ago
  The REST API and websockets are both commonly used in digital currency exchanges, but they have some key differences. The REST API is a protocol that allows clients to interact with a server by making HTTP requests. It is typically used for retrieving data, placing orders, and managing accounts. On the other hand, websockets provide a full-duplex communication channel between the client and the server, allowing real-time data streaming. This makes websockets ideal for applications that require real-time updates, such as live trading data or order book updates. While the REST API is more suitable for retrieving historical data or placing non-real-time orders, websockets excel in providing real-time data updates with low latency.
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• Latoya HaylesJul 29, 2024 · a year ago
  When it comes to digital currency exchanges, the REST API and websockets serve different purposes. The REST API is great for retrieving historical data, checking account balances, and placing orders that don't require real-time updates. It uses HTTP requests to communicate with the server and is widely supported by most exchanges. On the other hand, websockets are designed for real-time data streaming. They provide a persistent connection between the client and the server, allowing for instant updates on trades, order book changes, and other market data. Websockets are ideal for applications that require real-time updates, such as trading bots or market analysis tools.
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• Chesty07Jun 01, 2021 · 4 years ago
  In the context of digital currency exchanges, the REST API and websockets offer different ways to interact with the exchange's services. The REST API is a request-response protocol, where the client sends a request to the server and waits for a response. This makes it suitable for retrieving historical data, placing orders, and managing accounts. On the other hand, websockets provide a bidirectional communication channel between the client and the server, allowing for real-time data streaming. This makes websockets ideal for applications that require instant updates, such as live trading data or order book updates. While both the REST API and websockets have their own advantages, the choice between them depends on the specific requirements of the application.
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