In the realm of web development, data transfer and communication between different software applications are of paramount importance. Traditionally, APIs (Application Programming Interfaces) have been the go-to solution for this purpose. However, there’s a newer, more streamlined alternative gaining traction: webhooks.
What is a Webhook?
A webhook is essentially a way for applications to communicate with each other automatically, providing real-time data updates. It works on the concept of “event-based communication”. When a specific event happens in the source application, it sends a signal (HTTPS POST request) to a predefined URL (the target application). The target application receives this signal and acts upon it.
Webhooks send data unidirectionally in a “fire-and-forget” manner, meaning they transmit information without expecting a response or feedback, unlike traditional two-way communication methods. This makes them ideal for efficient, real-time data delivery.
Webhooks in Action: Runbot + Mizar
One practical example of webhooks is their use in connecting Runbot with its partners such as Mizar. Runbot is a platform that hosts and runs various strategies for trading, while Mizar is a trading platform that can instantly manage and send orders to your favorite exchange. By utilizing webhooks, you can have Runbot Alerts be converted into automated trades on Mizar.
To set this up, a user simply adds a new webhook on Runbot and links it to their strategy. They then specify the amount of capital they want to allocate to their strategy on Mizar. The Mizar Webhook URL is automatically provided, and Runbot sends alerts to this URL whenever the linked strategy triggers an event.
In the case of Runbot and Mizar, this real-time data delivery means that trading strategies can be implemented the moment an alert is generated, improving the timeliness and potentially the profitability of trades.
But Mizar is just an example. The beauty of webhooks is that they are versatile. They can send alerts anywhere, to any platform that supports webhooks. This could be another trading platform, a messaging app like Discord, your own private server, and so on.
Webhooks provide a simple, efficient way to connect different applications and receive real-time updates. Whether you’re looking to connect Runbot with Mizar or any other platform, webhooks can be a powerful tool in your arsenal.
For more details on how to use webhooks with Runbot and Mizar, check out the official documentation.