API3

About API3

API3 will integrate decentralised applications with regular Web APIs’ data and services, boosting blockchain’s usefulness without sacrificing decentralisation. API3 DAO will build up, operate, and monetize blockchain-native dAPIs at scale.

API3 has many built-in benefits. Security is key. dAPIs don’t rely on third-party oracles, a concern in other systems. The dAPI insurance service delivers measurable and trustless security guarantees to its users, further solidifying API3’s reputation as the most safe decentralised API solution.

API3 is multilevel robust. Airnode uses downtime-resistant serverless technology. API3 oracles are designed to be robust, having stateless nodes that aren’t affected by flaws or network conditions. dAPIs will be managed by a DAO that self-regulates risk and reward through incentives, providing a solid risk mitigation framework. dAPIs remove middlemen, giving them cost-efficiency. They don’t have to pay the middleman tax to third-party oracles to discourage attacks. First-party oracle data feeds don’t need over-redundancy. dAPIs reduce gas costs by decentralising with fewer oracles.

The API3 system enables flexibility by decentralising governance to real-world stakeholders. The project will never be confined by this document and will evolve to meet new difficulties and demands. First-generation decentralised apps were blockchain-only. Decentralized apps can interact with the off-chain environment in a restricted, pseudo-decentralized way. API3 will enable the next wave of decentralised applications that communicate with the off-chain environment through decentralised and trust-minimized APIs.