api3
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API3

Smart contracts often struggle to access dependable data, but application programming interfaces (APIs) have been touted as a solution to this problem. APIs are crucial because of how they supply blockchains with off-chain data — without it, these decentralized ledgers wouldn’t have a clue about how much coins should be worth.

API3’s stated goal is to allow decentralized versions of APIs to be built, managed, and monetized at scales. As blockchain technology plays an even bigger role in the economy — from decentralized finance to supply chain management — the team behind this project says it has never been more important for smart contracts to provide “timely, reliable real-world data.”

About API3