API3 is a platform for decentralized API services targeting web3 infrastructure. Data streams are delivered and managed in a decentralized manner. In standard internet web, APIs are hosted by a single centralized service. In contrast, here, data is distributed among different providers and will also be accessible through smart contracts.
What is API3 (API3)?
API3 is a data platform that allows APIs to feed data directly to blockchain applications without third-party intermediaries. API3 has a native governance token that can be staked for rewards and serves as collateral to provide a security guarantee in the data stream.
Providing external data to on-chain environments is an essential element for building robust decentralized applications, platforms, and marketplaces. How does API3 achieve this?
By creating decentralized APIs (dAPIs), API3 has made it easier to obtain off-chain data and transfer it to the blockchain. This means that developers will not have to pay a gatekeeper company or use proprietary technology to ensure their application’s data is compatible with blockchains.
API3’s unique oracle nodes are hosted by the API providers themselves. This creates a different experience from other third-party oracles as it establishes direct relationships and allows for more autonomy of data sources. This process of creating first-party nodes is called Airnode technology, which uses smart contracts on Ethereum $2,714 to convert APIs into dAPIs.
Where to Buy API3 Coin?
API3 Coin can be securely bought and sold through Binance, the largest cryptocurrency exchange in the world by trading volume. API3 Coin is traded on the Binance platform in API3/BTC, API3/USDT, and API3/BUSD pairs.
To purchase API3 Coin (API3), you first need to become a member of the Binance exchange. Once the membership is complete, you must transfer cryptocurrency or fiat currency to your Binance wallet. After completing the transfer, you can buy API3 Coin from one of the three pairs mentioned above. To purchase from the API3/USDT pair, you must first navigate to the interface of this pair. In the API3/USDT interface, enter the desired purchase amount in the field specified in the limit tab. After specifying the amount, you can complete the purchase by placing a Buy API3 order.