API3 is a collaborative challenge to ship conventional API providers to sensible contract platforms in a decentralized and trust-minimized means.
It’s ruled by a decentralized autonomous group (DAO), particularly the API3 DAO. Due to this fact, its code is open supply and its operations are clear.
The overwhelming majority of the exterior integrations that decentralized functions want are to business Internet APIs that conventional companies have constructed to monetize their knowledge and providers.
Due to this fact, what’s extensively often called the oracle downside is in apply an API connectivity downside.
Current oracle options fall quick as a result of they fail to make this distinction, leading to inferior options that depend upon third-party oracles and ecosystems that exclude API suppliers.
By refining the definition of the issue, API3 goals to supply a way more optimum resolution.
At its core, API3 brings the flexibility for API suppliers to simply run their very own oracle nodes.
This enables them to supply their knowledge on-chain, with out an middleman, to any decentralized app (dApp) thinking about their providers.
On the coronary heart of this mechanism sits Airnode, an open-source oracle node.
It is designed to be simply deployed by any API supplier with nearly no upkeep.
Due to Airnode, dApp builders can write sensible contracts to work together with the on-chain knowledge of API suppliers.
Airnode is designed with mechanisms to take away the on-chain or off-chain considerations of API suppliers.
The set-and-forget framework of Airnode is all about ease of implementation.
