What is API3 (API3)?

lockchains need a direct, reliable and decentralised route for data to merge with enormous real-world industries such as finance and real estate. We live in a world where data is key.

We need the ultimate blockchain oracle.

What is API3 ($API3)?

API3 is a decentralised Oracle network that enables decentralised applications (dApps) to gain access to real-world data through their large selection of APIs. API3 is on a mission to solve the blockchain’s ultimate puzzle, the Oracle Problem.

The Oracle problem is blocking Web3 from true global adoption. Naturally, blockchains are very restricted and isolated networks and require what we call APIs. APIs allow us to supply blockchains with live and accurate off-chain data.

How Does API3 Work?

The API3 protocol has introduced what we call dAPIs, the decentralised version of an API which enables smart contracts on-chain access to off-chain data feeds and is aggregated without the use of third parties.

API3 is currently able to source over 140 dAPIs to 16 of the largest blockchain networks, such as Ethereum, Arbitrum, Avax, Base, the BNB Chain and many more. There is no need to bridge data and risk any exploits with API3, instead get data directly from the source.

Unlike, Chainlink for example which uses a third-party Oracle and comes with many inherent risks. Data sourced from third parties are expensive and may not be accurate, reliable and most importantly transparent. Data requires decentralisation, through and through.

Decentralised Applications on all blockchains are looking for the most secure, reliable and cost-effective data feeds (APIs). The dAPIs will always be on the same chain as the dApp, minimising data exploits.

Developers can currently choose from over 140 dAPIs on the API3 marketplace. Those who are providing dAPIs are also rewarded for offering their services and are paid in a crypto of their choice (e.g. $ETH, $USDC etc.) Power to everyone.

API3's OEV Network

API3’s latest innovation, the OEV Network is a zk-Rollup built with Polygon CDK and will power up data for dApps on another level. This OEV network will be able to use API3 dAPIs across all compatible chains. This has shaken up the competition with Chainlink…

API3 Token

The $API3 token is the governance token of the entire protocol. Users or developers can simply buy and stake $API3 tokens to earn rewards and participate in the governance. This is all done through the API3 DAO Dashboard!

At the time of writing,  the $API3 token is currently sitting at $3.55 with a market cap of $307.2M. API3 has achieved a previous ATH of $10.31 back in April 2021 and is currently on its way back up…

API3 has stood the test of time and has made serious developments since its inception. Data will forever play a crucial role and we will always rely on our sources of information.

API3 is the source.

$API3 is the power.

Official API3 Links

API3 Website

API3 X

Disclaimer

This is a sponsored article by API3.

The content provided in this article is strictly intended for informational purposes. Nothing said in this article is financial advice. It is important to proceed with caution and diligence when using cryptocurrencies. Always invest what you are prepared to lose and remember that you are entirely responsible for your assets and investments. The author and the publication do not endorse or recommend any of the cryptocurrencies, protocols or strategies in this article.