API3 Overview

What is API3?

API3 is a first-party oracle solution launched in December 2020, allowing developers to connect their dapps to real-world data streams using APIs. Additionally, API owners can easily integrate their proprietary Airnode technology into web3.

Main Features
Native-chain aggregated data feeds for more than 120 assets on 11 networks
Free quantum mechanics-derived random number generator for smart contracts
Catalog of on-demand web3 APIs for developers
OEV Share to minimize value loss caused by MEV and return extractable value to DeFi dApps
Support for gaming, NFTs, and participatory processes
Blockchains
Polygon

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Frequently asked questions

API3's data feeds, known as dAPIs, are different because they source their data directly from high-quality data providers without relying on third-party middlemen. The dAPI aggregation contract resides on the same chain as the consumer dApp, eliminating the need for cross-chain bridges and reducing the risk of bridge exploits. This ensures the reliability, transparency, and security of the data feeds, making them safer for DeFi applications.

You should use quantum random numbers for your smart contracts because they are truly random and non-deterministic, unlike pseudo-random number generators which can be biased or repeat at some point. Quantum random numbers provided by API3's QRNG are guaranteed to be unbiased and maximally secure. This is important for various applications such as generative NFTs, gaming, games of chance, and participatory processes where fairness and unpredictability are crucial. API3's QRNG is hosted by Australia National University and Quintessence Labs on AWS, ensuring encrypted transmission, no reuse of numbers, destruction after serving, and encryption at rest on AWS servers.

API3 can support gaming on the blockchain by providing secure and reliable real-time market data through their dAPIs. Gaming applications on the blockchain often require continuous random number generation to keep operations unpredictable and exciting for players. API3's tamper-proof randomness generation can be utilized by game developers to ensure fair odds in games of chance, where financial incentives are rewarded for correct wagers. Additionally, API3's random number generator can be used in participatory processes, such as random token distribution or drawn winners, to ensure a truly fair assignment process without bias. API3's dAPIs are simple to integrate, providing a seamless low-code deployment for gaming applications on various EVM-compatible networks.

API3's QRNG is hosted by Australia National University and Quintessence Labs on AWS.

Airnode is an open-source Web3 middleware that connects any web API directly to any blockchain application. It serves as a provider-focused oracle solution for connecting real-world data to blockchain applications. Airnode operates as an API gateway, allowing smart contracts to call off-chain APIs and receive data from them on the blockchain without the need for third-party middlemen. It is compatible with most EVM-based blockchains and is free to use under the MIT License. Airnode does not require handling cryptocurrencies as the requester pays for the blockchain gas fees.

To join the API3 Alliance, organizations need to use Airnode to power their Web3 data services. The API3 Alliance empowers decentralized applications to directly call their Web APIs using API3's Airnode. To join, organizations can apply through the API3 Alliance website. The alliance's mission is to help members successfully expand into Web3 by providing a go-to-market amplifier for their Web APIs.

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