Difference between revisions of "API3"
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API3 is a collaborative project to deliver traditional API services to smart contract platforms in a decentralized and trust-minimized way. It is governed by a ''decentralized autonomous organization'' (DAO), namely the API3 DAO. Therefore, its code is open source and its operations are transparent. | API3 is a collaborative project to deliver traditional API services to smart contract platforms in a decentralized and trust-minimized way. It is governed by a ''decentralized autonomous organization'' (DAO), namely the API3 DAO. Therefore, its code is open source and its operations are transparent. | ||
[[Smart contract|Smart contracts]] running on a [[blockchain]] network can only operate on information that is accessible to and agreed upon by all nodes in the network. Thus | [[Smart contract|Smart contracts]] running on a [[blockchain]] network can only operate on information that is accessible to and agreed upon by all nodes in the network. Thus the blockchain is walled-off from [[off-chain]] information, this is referred to as "[[the oracle problem]]”. | ||
== Sources: == | |||
https://api3.org/ | |||
https://medium.com/api3/ | |||
[[Category:Protocols]] | [[Category:Protocols]] | ||
[[Category:Oracles]] | |||
Latest revision as of 12:04, 18 July 2022
API3 is a collaborative project to deliver traditional API services to smart contract platforms in a decentralized and trust-minimized way. It is governed by a decentralized autonomous organization (DAO), namely the API3 DAO. Therefore, its code is open source and its operations are transparent.
Smart contracts running on a blockchain network can only operate on information that is accessible to and agreed upon by all nodes in the network. Thus the blockchain is walled-off from off-chain information, this is referred to as "the oracle problem”.