/biz/ - Business & Finance

If I say "Connect Smart Contracts to Real-World Data" you are definitely thinking of LINK, right anon?

PhD in CS here. I've been researching a protocol called API3 which is unironically solving many problems LINK is having. I then got excited and made my finance friend do analytics on the tokenomics side which also outperforms LINK.

At the end of the day we cannot forget that fundamentals will come into play (whether it's tmrw or two years from now no one knows..) and that is the time I believe API3 really stands a chance to show its true value. Therefore I'm calling this;

The Accumulation Phase. or TAP.

Are you with me anon? If not https://api3.org/

I love reading. This is API3 whitepaper.

"With decentralized applications beginning to provide meaningful services in areas such as decentralized finance, there is an increasing need for these applications to receive data or trigger events using traditional Web APIs. However, the generic oracle solutions fail to appropriately address the API connectivity
problem due to an over-generalized and misguided approach. To remedy this issue, API3 will drive a collaborative effort to create a new generation of blockchain-native, decentralized APIs, or dAPIs for short. dAPIs are composedof first-party oracles operated by API providers, and thus are more secure and cost-efficient than alternative solutions that employ middlemen. At the core of the governance, security, and value capture mechanics of this initiative will be the API3 token. Staking the token will grant its holders full governing rights over the API3 DAO along with all the associated rewards. Staked API3 tokens will be used as collateral for the on-chain insurance service that will provide
quantifiable and trustless security guarantees to dAPI users. These mechanics will remove the need for a central authority at the ecosystem level. As a result, the API3 Project will allow smart contract platforms to leverage APIs for the building of meaningful applications in a truly decentralized and trust-minimized way."

End of Abstract.

WHERE THE HECK DO I BUY THIS? Shaking.

YES. Check API3 bags for the first time in three months. Guess it's time to withdraw my request to work for my current company.

Anons got told by me that API3 is on its way to disrupt LINK and we are now in the midst of it. Guess you don't pay any attention today either and that is totally fine. Someone has to clean my bathroom and wipe my arse in the coming years.

When you realize the power of:
"Create powerful decentralized applications with API3’s decentrally governed and quantifiably secure data feeds"
Then you've come far son. Boomer's gonna bloom.

Boomer out.

API3 data feeds are governed by an open DAO of stakeholders, industry experts and project partners. This allows dAPIs to be operated with maximal transparency, minimal required trust in centralized operators, and no centralized attack surfaces. API token holders can take a direct part in governing the project by staking API3 tokens into the API3 insurance staking contract, which grants them shares in the API3 DAO.
OK
>Without third-party node operators, API3 data feeds are never exposed to data tampering and denial of service attacks by middlemen. This enables them to reach higher cost-efficiency, while having fewer attack surfaces. Source-level decentralization of dAPIs is enabled by Airnode, a fully serverless oracle node that can be deployed by any API provider for free, and requires minimal day-to-day management.
So this is the end of LINK?
>not necessarily, but you'd want to be aware of API3 if you care about two things: FUNDAMENTALS & PUMPAMENTALS

>API3 is a collaborative effort to build, manage and monetize dAPIs at scale. To achieve this in a fully decentralized way, the incentives of the participants will be reconciled through the governance, security, and value capture utilities of the API3 token A dAPI is a secure and cost-efficient solution to provide a traditional API service to smart contracts in a decentralized way

When you realize that decentralized APIs for Web 3.0 actually is a thing, then you are allowed to profit from it as well. Just like PancakeSwap is catching up on Uniswap, API3 is literally eating Link rn. Killing Link is only the first step though.

My price predition is irrelevant, but let's go with earlier investments like PancakeSwap, YFI etc. I tend to see things before they become big.

Always do your own research anon

>With decentralized applications beginning to provide meaningful services in areas such as decentralized finance, there is an increasing need for these applications to receive data or trigger events using traditional Web APIs. However, the generic oracle solutions fail to appropriately address the API connectivity problem due to an over-generalized and misguided approach. To remedy this issue, API3 will drive a collaborative eort to create a new generation of blockchain-native, decentralized APIs, or dAPIs for short. dAPIs are composed of first-party oracles operated by API providers, and thus are more secure and cost-effcient than alternative solutions that employ middlemen. At the core of the governance, security, and value capture mechanics of this initiative will be the API3 token. Staking the token will grant its holders full governing rights over the API3 DAO along with all the associated rewards. Staked API3 tokens will be used as collateral for the on chain insurance service that will provide quantifiable and trustless security guarantees to dAPI users. These mechanics will remove the need for a central authority at the ecosystem level. As a result, the API3 Project will allow smart contract platforms to leverage APIs for the building of meaningful applications in a truly decentralized and trust minimized way.

You rememer the early days of LINK? Let me say the same to you next year but referring back to API3. Shaking.

>As a multi-layer, cross-platform data solution, dAPIs can be bridged to any blockchain, in order to provide smart contracts on various platforms with reliable access to premium real-world data. API3’s cross-platform approach enables any smart contract platform to leverage API3’s ecosystem of dAPIs and data-integration tools by simply creating a bridge between API3 and the network.