WebSocket is a protocol used for creating real-time communication channels between a client and a server. Unlike traditional HTTP requests, which require a new connection for each interaction, WebSocket allows for a persistent connection. This means that once the connection is established, data can be sent in both directions without reopening the connection.In the cryptocurrency space, WebSockets are particularly useful for receiving live updates about market data, such as price changes, order book updates, and trade information. This real-time data is crucial for traders who need to react quickly to market movements.By using WebSocket APIs, developers can build applications that provide seamless and fast interactions with exchanges. Users can monitor multiple assets, receive alerts, and execute trades based on the latest market information without the lag typically associated with traditional polling methods. This enhances the overall trading experience and enables more informed decision-making.