Chainlink (LINK) Rival API3 Rises Nearly 100% In Last 7 Days As Crypto Market Corrects

An API for Web 3.0 altcoin rises despite crypto market plunge
 Chainlink (LINK) Rival API3 Rises Nearly 100% In Last 7 Days As Crypto Market Corrects
READING NOW Chainlink (LINK) Rival API3 Rises Nearly 100% In Last 7 Days As Crypto Market Corrects

An API for Web 3.0 altcoin surged despite the crypto market slump.

You can follow us on our Twitter and Telegram channel to be instantly informed about the last minute developments.

A series of partnerships and listings helped decentralized oracle network API3 (API3) stay unaffected during the latest crypto market downturn, pushing its price up 97% to $7.96 this week.

Oracle networks work by providing real-time data to blockchains to help them execute smart contracts. API3, which is managed by a decentralized autonomous organization, recently announced the launch of its new Airnode.

According to API3’s Twitter, Airnode will allow a crypto monitoring tool to deliver data about socially active crypto assets to the blockchain and improve real-time fund management. Last month, API3 launched a partnership with Amberdata, a fintech firm based on digital assets. Together, they created Amberdata Beacons, a protocol that offers cost-effective and transparent data feeds for smart contract developers, according to a blog post.

According to API3 co-founder Heikki Vänttinen, Beacons will serve as the foundation for the development of their decentralized API.

“Beacons enhance the [traditional data flow] model by taking advantage of first-party oracles, where data sources feed their data directly on-chain instead of going through 3rd party agents. Looking ahead, Beacons will be the building blocks of our dAPIs [decentralized APIs] as well as being offered as a standalone service.”

Comments
Leave a Comment

Details
154 read
okunma49136
0 comments