🔗 *API3 and its connection to the blockchain*
API3 is an innovative solution that allows decentralized applications (dApps) to connect with real-world data 🌍 through decentralized oracles. In the blockchain ecosystem, smart contracts cannot directly access external information such as prices, weather, or sports results 🏆. For this, oracles exist, acting as bridges between the blockchain and the real world.
API3 improves this process with a more secure and efficient proposal:
- Uses *dAPIs* (decentralized APIs) managed directly by data providers 📡.
- Eliminates intermediaries, reducing costs 💸 and risks 🔐.
- Increases transparency and data quality 📊.
⚙️ Its operation is based on:
- *Airnode*: Technology that allows providers to connect their APIs directly to the blockchain without additional infrastructure 🧩.
- *API3 DAO*: Community governance where holders of the API3 token decide on the development of the project 🗳️.
- *Staking*: Users can stake the API3 token to participate in decisions and receive rewards 🎁.
🌐 In the context of Web3, API3 is key because:
- Democratizes access to reliable data 📈.
- Fosters a more decentralized and secure ecosystem 🛡️.
- Allows dApps to operate with accurate information without relying on third parties 🤝.