We’re delighted to announce that we’re partnering with API3 who allows users to create trustless applications that interact with web APIs.
API3 is leading the movement from legacy third-party oracle networks to first-party oracle solutions that deliver more security, efficiency, regulatory compliance, and simplicity.
“API3’s Airnode data oracle service means our developer community will have access to reliable and plentiful data sources for their dApps, furthering our commitment to increasing the usability and adoption of the Cudos Network in readiness for our mainnet launch,” concluded our Blockchain Product Manager, Ethan Illingworth.
The applications are decentralised, trust-minimised, and use a transparent governance system. API3 is also data provider-operated, and users are insured against data-feed malfunctions, featuring real-world data for any smart contract platform.
API3s solutions include Airnode, a Web3 middleware that connects any web API directly to any blockchain application. Airnode is the easy path to Web3. Web3 security is rooted in decentralisation, and this poses a problem for API companies. Smart contracts cannot directly connect to APIs for real-world data and services. “Oracles” facilitate API connectivity by acting as a bridge between the smart contract and the API.
API3’s solution also includes dAPIs, which are networks of first-party, API provider-operated oracles with decentralised governance. API3 data feeds are governed by an open DAO of stakeholders, industry experts, and project partners. This allows dAPIs to be operated with maximal transparency, minimal required trust in centralised operators, and minimised risks of a centralised attack.
“Cudos’s on-chain cloud solution is an answer to those decentralisation application developers looking for an alternative to AWS & Azure when it comes to hosting service providers. As the leading provider of decentralised APIs with the largest API catalogue in the industry, it is a natural partnership to make this available to those choosing Cudos as an on-chain blockchain solution,” concluded Ben Carvill, Growth & DAO Participant at API3.
API3 allows users to create trustless applications that interact with Web APIs and is leading the movement from legacy third-party oracle networks to first-party oracle solutions that deliver more security, efficiency, regulatory compliance, and simplicity.
For more, please visit API3’s website.
The Cudos Network is a layer 1 blockchain and layer 2 computation and oracle network designed to ensure decentralised, permissionless access to high-performance computing at scale and enables scaling of computing resources to 100,000’s of nodes. Once bridged onto Ethereum, Algorand, Polkadot, and Cosmos, Cudos will enable scalable compute and Layer 2 Oracles on all of the bridged blockchains.
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