API3
API3 is a decentralized API platform that enables smart contracts on blockchain networks to securely access real-world data and services through first-party oracles. It uses a decentralized autonomous organization (DAO) structure to manage and govern the data feeds, ensuring transparency and reliability. The platform focuses on providing data directly from API providers without intermediaries, reducing points of failure and enhancing trust in decentralized applications (dApps).
Developers should learn API3 when building dApps that require off-chain data, such as price feeds, weather information, or event outcomes, as it offers a secure and decentralized way to integrate such data into blockchain environments. It is particularly useful in DeFi, insurance, and prediction market applications where accurate and tamper-proof data is critical. By using API3, developers can avoid reliance on centralized oracles, which can be single points of failure, and leverage a community-governed system for data integrity.