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Information about API3 (API3)
API3 is a decentralized autonomous organization (DAO) which aims to build and monetize a way for blockchains to connect with existing data provider APIs. API3 is a platform that enables blockchain-based decentralized applications (dApps) to access blockchain-external, real-world data and services via application programming interfaces (APIs). API3’s goal is to become a portal that connects APIs and real-world data feeds to Web 3.0. By using the First-party oracle mechanism, API3 is able to ensure the security, efficiency and transparency of the data source while eliminating the need for rent-seeking middlemen.
API3 is a native token of the API3 ecosystem, operating on Ethereum according to ERC20 standard, and can be used to:
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