API3: everything you need to know about API3
Axel has been immersing himself in the world of crypto and blockchain for quite some time, which he then translates into understandable articles.
API3 facts
Abbreviation
API3
Category
Data infrastructure
Founder(s)
Sasa Milic, Heikki Vänttinen, Burak Benligiray.
Blockchain
Ethereum
Protocol
ERC-20
Launch date
3 December 2020
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What is API3?
API3 is a crypto project that provides smart contracts with access to reliable real-world data, without intermediaries. It aims to bridge the gap between traditional APIs and blockchain technology, so that smart contracts can directly use data from external data providers.
How does API3 work?
API3 allows API providers to run their own so-called Airnodes. These are nodes that communicate directly with a blockchain. This eliminates the need for smart contracts to rely on traditional oracles, making the data more reliable, cheaper, and decentralized.
The API3 token
The API3 token is a governance token. That means that holders are allowed to vote on important decisions within the network, such as upgrades or financial choices. Additionally, the token is also used for staking: by locking your tokens, you contribute to the security of the network and can earn rewards.
The technology behind API3
The core of API3 is the Airnode. This is a lightweight and easy-to-manage node that is directly managed by an API provider. These Airnodes ensure that data is sent securely to smart contracts without the need for third-party involvement. This reduces the risk of errors or manipulation.
The API3 ecosystem
The API3 ecosystem consists of data providers, developers, and stakers. API providers run Airnodes to deliver data, developers use this data in their dApps, and token holders secure the network through staking. API3 collaborates with various blockchains and data providers globally.
€1.1010▼5.36%
Benefits of API3
- No intermediaries needed: data comes directly from the source.
- Lower costs than traditional oracles.
- More decentralization and transparency.
- API providers retain control over their data.
Disadvantages of API3
- Competition from major players such as Chainlink.
- The technology is relatively new and still developing.
- Success depends on the adoption by API providers.
Who is the founder of API3?
API3 was founded by Sasa Milic, Heikki Vänttinen, and Burak Benligiray. They combined their experience in software development, blockchain technology, and data infrastructure to start the project.
Expectations for the coming period
Experts expect a minimum price of €3.4900 in 2027 and a minimum price of €11.550 in 2032.
API3 price in the last 24 hours
View all key statistics of the past 24 hours here.
€1.1300
€1.1900
€1.1300
Market information
Use these figures to get a better picture of the API3 market.
€64.7 million
€134.5 million
118.3 million
€8.6700
API3 Return On Investment
See how much the price has risen or fallen over the years.
Historical API3 price
Here you can see API3's daily prices, trading volume and market cap. Looking for a specific date? You can fill in the range all you want. Maybe you'll spot the one trend!
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Most popular crypto currencies today
Frequently asked questions
API3 doesn't have a fixed value because the exchange rate is always in motion. Whenever you get distracted or even blink, it has already changed. Right now, the value of API3 is €1.1010.
You can easily buy API3 on BLOX! Quickly download the app, and within two minutes, you'll have your own crypto portfolio with API3 and your other favorite coins.
So much is happening in the crypto market that it's sometimes difficult to stay continuously informed. That's why we've already taken a look at the expectations for you. According to experts, the value of API3 is expected to continue rising steadily in the coming years. For instance, the price of API3 is predicted to reach €3.0600.
We don't have a crystal ball either, so it's up to you to decide whether you want to invest in API3. We can only recommend once again that you thoroughly research the market and only invest what you're willing to lose.
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