What is API3 (API3)?

A secure and decentralized infrastructure for providing APIs is what API3's decentralized API (Application Programming Interface) platform wants to provide. The platform integrates blockchain technology, decentralized oracle networks, and smart contracts to produce secure, dependable, and transparent APIs.

The History of API3

A group of blockchain industry experts, including Heikki Vänttinen, Burak Benligiray, and Eray Sabancilar, formed API3 in 2020. The API3 team recognized the need for a more secure and decentralized method of providing APIs, which inspired the development of the API3 platform.

The Use Case of API3

The purpose of API3 is to offer a decentralized substitute for conventional APIs, which are frequently centralized and prone to security flaws. Developers may design decentralized, secure, and dependable APIs with API3. Decentralized oracle networks provided by API3 guarantee that APIs can run safely without being subject to fraud or manipulation.

Finance, healthcare, and logistics are just a few of the industries that can use API3. The platform offers a number of features, such as encrypted data transfer, timely data updates, and open audit trails.