API3 sees a growing need for better interfaces between dApps and third-party data sources. I think their solution addresses the challenges of existing oracle systems and potentially reshaping the landscape. The project caught my eye as they gained traction again.
API3, often dubbed the "Chainlink Killer," is a project addressing the Oracle problem within dApps and Web 3.0.
Tell me more!? Ok so within oracles, API3 allows API providers to run their own nodes, eliminating intermediaries. This creates competition, promotes decentralization, and enables transparent curation of data feeds, critical for dApps.
A simpler, cost-effective solution compared to traditional oracles. A network where API providers act as nodes, delivering data transparently without the need for additional security layers, reducing attack vectors, and ensuring data authenticity.
The API3 Solution - Airnode: Airnode' an off-chain system that allows API providers to easily deploy their own oracles on-chain. This solution aims to bridge the gap between API providers and blockchain applications, promoting easy integration and reducing maintenance efforts.
$API3
- staking, governance, collateral for on-chain insurance, payments, and dispute resolution.
Team API3 was co-founded by Heikki Vanttinen, Burak Benligiray, and Saša Milić. The team's expertise ranges from language machine development to software engineering and blockchain research. Show Less
