CRYPTOCURRENCY

Ethereum: How to setState in react.js using “binance.futuresMiniTickerStream()” function

07 Feb

State Management with binance.futuresMiniTickerStream() in React.js

When building a web application that requires real-time data, it becomes essential to use the Binance API to fetch market data and update the UI reactively. A popular approach is to use the React useState hook to manage and update state variables based on asynchronous operations such as API calls.

In this article, we will show you how to use the binance.futuresMiniTickerStream() function from the Binance Node.js library to create a real-time data stream in your React application.

Binance API and its Stream function

To use the binance.futuresMiniTickerStream() function, you must first install the required package:

npm install node-binance-api

Then initialize the Binance API client in your React component. Here is an example:

import React, { useState, useEffect } from 'react';
import Binance from 'node-binance-api';
const Binance = require('node-binance-api');
// Initialize Binance API client
asynchronous function initBinance() {
const binance = new Binance({
api_key: 'YOUR_BINANCE_API_KEY',
api_secret: 'YOUR_BINANCE_API_SECRET'
});
return binance;
}
const Application = () => {
// State variables to store streaming data
const [data, setData] = useState([]);
const [error, setError] = useState(null);
// Function to fetch and update state with new data from Binance API
const fetch data = async() => {
try {
// Initialize Binance API client with initialization function
const binance = await initBinance();
// Uses promise that resolves when stream is ready
const stream = await binance.futuresMiniTickerStream({
symbol: 'BTCUSDT',
interval: '1m'
});
// Listen for new data and update state
stream.on('data', (tickers) => {
setData(tickers);
});
} catch (error) {
setError(errorMessage);
}
};
useEffect(() => {
getData();
}, []);
return (
{data length > 0 && (
Current data: {JSON.stringify(data)
)}

);

};

In this example:

  • We define a fetchData function that initializes the Binance API client, starts listening for data in the binance.futuresMiniTickerStream() function, and updates the state with new data.
  • The useEffect hook is used to call the fetchData function after the component is mounted.

How ​​it works

After calling the fetchData function, Binance creates a real-time stream of ticker objects, which are then listened for using the stream.on('data') method. When new data is received, the event handler updates the state to reflect the new data.

With this approach, the React component can reactively update its UI as live market data is streamed through the Binance API.

Tips and Variations

  • To handle errors differently, you can add additional logic inside the on('data') event handler or use a separate error handler function.
  • If you need more advanced features, such as canceling streams or limiting updates to specific intervals, please refer to the [Binance Node.js API documentation](

By leveraging the Binance platform’s binance.futuresMiniTickerStream() function and reactively updating the React component with new data, you can create a robust real-time data streaming system for your application.