Evaluating the Trade’s Main Web3 API Suppliers – Moralis vs. Alchemy vs. QuickNode

The dynamic Web3 improvement area is house to quite a few Web3 API suppliers, which convey their distinctive strengths and weaknesses to the desk. With this abundance of API choices, you would possibly discover it difficult to find out which APIs finest fit your improvement wants. And whereas it would look like most suppliers provide comparable merchandise, evaluating completely different Web3 APIs can usually be like evaluating apples to oranges.

So, out of all Web3 API suppliers, which is the best choice? To search out out, observe alongside on this information as we conduct a comparative evaluation of the Web3 business’s main API suppliers: Moralis, Alchemy, and QuickNode. As we transfer ahead, we’ll rigorously analyze these three suppliers from an accessibility, efficiency, and value perspective.

All through this information, you’ll rapidly uncover that Moralis gives the business’s most complete Web3 APIs. Consequently, Moralis facilitates the business’s most accessible and simple developer expertise. So, when you instantly wish to begin utilizing Moralis’ top-tier Web3 APIs, click on the button under!

To be taught extra about why Moralis outperforms the competitors, be a part of us under as we dive straight into our comparability of Web3 API suppliers! 

Evaluating Web3 APIs: Moralis vs. Alchemy vs. QuickNode 

To spotlight the similarities and, extra importantly, variations between Moralis, Alchemy, and QuickNode, we used every supplier’s respective Web3 APIs to question the required information for constructing a portfolio view of Vitalik Buterin’s ERC-20 tokens. On this case, a portfolio view consists of the identify, emblem, stability, and worth of all property within the pockets.

We opted for Vitalik’s pockets resulting from its measurement and the intensive quantity of tokens it holds. This makes it the proper candidate for testing the provision of spam classifications and metadata for big token units. This method additionally allowed us to systematically assess and evaluate the accessibility, effectivity, and cost-effectiveness of Moralis, Alchemy, and QuickNode when fetching the identical on-chain assets.

You’ll discover the outcomes of our checks summarized within the two charts under:

By analyzing the charts above, you’ll discover that constructing a portfolio view of Vitalik’s ERC-20 tokens with Moralis calls for considerably fewer API calls and is extra cost-efficient than using each Alchemy and QuickNode.

With solely 18 calls at a complete value of $0.000882, we have been in a position to fetch the stability, metadata, and worth of Vitalik’s ERC-20 tokens. As compared, the identical job required 4963 calls at a complete worth of $0.0049189 with Alchemy. And 4760 calls at a complete value of $0.0163091 with QuickNode.

Right here’s the information damaged down right into a desk: 

Why Does Moralis Outperform the Competitors? 

All Web3 APIs from Moralis are outcome-oriented and designed to reduce the variety of calls it’s essential question blockchain information. We enrich all our API responses with transaction decodings, metadata, deal with labels, market information, and way more from a number of sources.

To exemplify, when utilizing Moralis’ Token API and the token stability endpoint, you get the ERC-20 balances of a pockets – together with metadata and costs for every token – in a single response. This implies you solely should name one endpoint and use one supplier, simplifying your improvement endeavors considerably.   

As compared, when utilizing suppliers like Alchemy and QuickNode, you will need to first fetch the token balances from the pockets. From there, it’s essential make particular person calls to question the metadata for every token individually. Furthermore, Alchemy and QuickNode’s API responses don’t embody token costs, that means you will need to additionally contain a third-party supplier like CoinGecko or CoinMarketCap to get this information.

This is the reason we solely wanted 18 calls to construct a portfolio view of Vitalik’s ERC-20s when working with Moralis. In the meantime, the identical job demanded 1000’s of calls and a number of suppliers when utilizing Alchemy or QuickNode.

To interrupt this down and make clear it additional, let’s look at intimately the endpoints and responses from every supplier we utilized to render the portfolio view of Vitalik’s ERC-20 tokens.

Moralis – Endpoint Overview

With Moralis’ complete APIs, we solely want the Token Steadiness endpoint to fetch the token balances – together with metadata and costs – of any deal with: 

GET https://deep-index.moralis.io/api/v2.2/wallets/0xd8da6bf26964af9d7eed9e03e53415d37aa96045/tokens?chain=eth

Right here’s an instance of what the response would appear like: 

{
  "cursor": null,
  "web page": 0,
  "page_size": 100,
  "end result": [
    {
      "token_address": "0xdac17f958d2ee523a2206206994597c13d831ec7",
      "symbol": "USDT",
      "name": "Tether USD",
      "logo": "https://cdn.moralis.io/eth/0xdac17f958d2ee523a2206206994597c13d831ec7.png",
      "thumbnail": "https://cdn.moralis.io/eth/0xdac17f958d2ee523a2206206994597c13d831ec7_thumb.png",
      "decimals": 6,
      "balance": "517438540",
      "possible_spam": false,
      "verified_contract": true,
      "balance_formatted": "517.43854",
      "usd_price": 1.0006571224951815,
      "usd_price_24hr_percent_change": 0.08795941027880547,
      "usd_price_24hr_usd_change": 0.45543496836985303,
      "usd_value": 517.7785605045078,
      "native_token": false,
      "portfolio_percentage": 0
    },
    //...
  ]
} 

This response is enriched with an abundance of helpful information, together with the image, identify, emblem, worth, stability, worth modifications over time, and extra of every token. As such, when working with Moralis, you solely want a single endpoint to fetch all of the required information for constructing a full ERC-20 portfolio view! 

Alchemy – Endpoints Overview

When utilizing Alchemy, we initially must name their getTokenBalances() endpoint, which is used to fetch a pockets’s token balances: 

alchemy.core.getTokenBalances(“0xd8dA6BF26964aF9D7eEd9e03E53415D37aA96045”)

In return, you’ll get a easy response containing an array of token balances, that includes solely the contract deal with and token stability in hexadecimal: 

"jsonrpc": "2.0",
  "id": 1,
  "end result": {
    "deal with": "0x95222290dd7278aa3ddd389cc1e1d165cc4bafe5",
    "tokenBalances": [
      {
        "contractAddress": "0x0183736842388dcc6d41674082937684056a3904",
        "tokenBalance": "0x00000000000000000000000000000000000000001581113dffdc72c05ad16068"
      },
      //...
    ]
  }
}

What’s extra, other than offering a fairly restricted response, Alchemy moreover consists of some tokens with a stability equal to zero:

{
  "contractAddress": "0x007f252591528d326b2a73b366e5c6a0aa5128cc",
  "tokenBalance": "0x0000000000000000000000000000000000000000000000000000000000000000"
}

Together with tokens with a zero stability is sort of pointless, and it additional slows down the time it takes to fetch the entire tokens utilizing Alchemy’s API. 

As soon as we’ve the stability, we now additionally must name Alchemy’s getTokenMetadata() endpoint individually for every particular person token. This may end in 1000’s and 1000’s of further calls. Right here’s an instance of what the endpoint seems like: 

const contract = "0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48";
alchemy.core.getTokenMetadata(contract).then(console.log);

In return, you’ll get a response containing a single token’s decimals, emblem, identify, and image:

{
  "jsonrpc": "2.0",
  "id": 1,
  "end result": {
    "decimals": 6,
    "emblem": "https://static.alchemyapi.io/pictures/property/3408.png",
    "identify": "USDC",
    "image": "USDC"
  }
}

Lastly, it’s essential leverage a third-party supplier, equivalent to CoinGecko or CoinMarketCap, to get the value of every token. That is one other bothersome step, leading to extra calls and a extra complicated workflow for you and your improvement staff!

QuickNode – Endpoints Overview

When utilizing QuickNode, we even have to start out by calling their getWalletTokenBalance endpoint to fetch the ERC-20 token balances of the pockets:

curl https://docs-demo.quiknode.professional/ 
  -X POST 
  -H "Content material-Kind: utility/json" 
  --data '{
    "id":67,
    "jsonrpc":"2.0",
    "methodology":"qn_getWalletTokenBalance",
    "params": [{
      "wallet": "0xd8dA6BF26964aF9D7eEd9e03E53415D37aA96045"
    }]
  }'

This returns an array of tokens that appears like this:

{
  "jsonrpc": "2.0",
  "id": 67,
  "end result": {
    "end result": [
      {
        "name": "Namefi Service Credit",
        "symbol": "NFSC",
        "decimals": "18",
        "address": "0x0000000000c39a0f674c12a5e63eb8031b550b6f",
        "quantityIn": "100000000000000000000",
        "quantityOut": "20000000000000000000",
        "totalBalance": "80000000000000000000"
      },
      //...
    ]
  }
}

QuickNode’s response comprises extra info than Alchemy’s, but it surely’s inadequate for constructing a complete portfolio view. As such, we then must name their getTokenMetadataByContractAddress endpoint for every particular person token to get further info, which leads to 1000’s of additional calls: 

curl https://docs-demo.quiknode.professional/ 
  -X POST 
  -H "Content material-Kind: utility/json" 
  --data '{
    "id":67,
    "jsonrpc":"2.0",
    "methodology":"qn_getTokenMetadataByContractAddress",
    "params": [{
      "contract": "0x4d224452801ACEd8B2F0aebE155379bb5D594381"
    }]
  }'

That is what the response seems like:

{
  "jsonrpc": "2.0",
  "id": 67,
  "end result": {
    "identify": "Tether USD",
    "image": "USDT",
    "contractAddress": "0xdac17f958d2ee523a2206206994597c13d831ec7",
    "decimals": "6",
    "genesisBlock": null,
    "genesisTransaction": null
  }
}

What’s extra, you’ll discover that QuickNode’s metadata response doesn’t even embody the token emblem. That is one other essential element for constructing an ERC-20 token portfolio view. 

Lastly, very similar to when utilizing Alchemy, you additionally must leverage a third-party supplier like CoinGecko or CoinMarketCap to get token costs when working with QuickNode. As such, that is one other integration that complicates issues for you and your improvement staff.

Abstract: Full Comparability – Moralis vs. Alchemy vs. QuickNode

With Moralis’ outcome-oriented and use-case-specific Web3 APIs, we’re in a position to present a considerably extra accessible and simple developer expertise in comparison with Alchemy and QuickNode! 

Because of Moralis’ absolutely enriched API responses, you solely want a single endpoint and 18 API calls to get the token balances, metadata, costs, and way more from Vitalik’s pockets. This considerably improves the efficiency and cost-effectiveness of Moralis’ Web3 APIs. You require fewer calls to question the information you want.

As compared, with Alchemy and QuickNode, the identical job requires 1000’s of calls and third-party involvement. Suppliers like CoinGecko or CoinMarketCap are obligatory, turning this straightforward job right into a bothersome and time-consuming endeavor.

Whereas this comparability makes use of Moralis’ Token API for instance, it’s price noting that every one our APIs, together with the NFT API, Pockets API, and so on., are equally as complete and simple to make use of. As such, it doesn’t matter when you’re constructing a portfolio view of ERC-20 tokens, an NFT-based platform, a crypto worth tracker, or some other Web3 challenge; Moralis constantly outshines the competitors. 

So, if you wish to begin constructing Web3 tasks quicker and extra effectively, be certain to enroll with Moralis!