Api3: a bridge between blockchain and digital world

Typto 2021-04-16 19:58:46 阅读数:357

api3 api bridge blockchain digital

Original title :API3: The Glue Connecting the Blockchain to the Digital World

title :API3: Bridge between blockchain and digital world ** beam **

author :Saša Milić

Number of words :1086

API3 I want to discuss with you how to make your API Provided to blockchain

This is our series “ Get... On the blockchain API” The last article of .

iStock/smirkdingo, Author post processing

If you focus on that from the beginning series , So I'm glad you've learned API3 The main elements and ideas of design . This article simply shows how they come together to solve API Connection problem .

API3 Design and mechanism overview

Internal actors and entities

De centralization APIs(dAPIs)

dAPI It's the data source on the chain , From the first party ( from API Provider operations ) It's composed of a total of .

this ** Systems Allow to remove many vulnerabilities 、 Unnecessary redundancy and intermediation generated by existing third-party Oracle solutions people ** tax . Besides , Using the first party Oracle can take advantage of API The provider's off chain reputation ( Compared to the reputation that anonymous third-party Oracle doesn't exist ). You can refer to our article 《First-Party vs Third-Party Oracles》, To get a more detailed account of these issues .

Besides ,dAPIs yes ** be based on Data information source built by transparency . We mean ** You know exactly where the data comes from , This ensures data quality and independence of data sources , In order to reduce the deviation of polymerization results .

Pledge pool

Different from the Oracle level pledge —— because This article The reason mentioned in , This is impractical , And it's not feasible —— however API3 There is indeed a pool of pledge .

API3 The holder can provide pledge for the agreement . Pledge to support insurance services , The insurance service protects users from dAPI Potential damage caused by failure . The pledge tool enables participants to ** Joint undertaking **API3 The operational risk of , And motivate them to minimize it . Participation in the agreement also allows stakeholders to be rewarded with inflation and share profits .


API3 DAO control dAPI. DAO Decentralize project governance , And how to use the money . We are this paper The meaning of decentralized governance is explained in , Why is it essential for complex protocols , And how it goes through ** Its ** Transparency and scalability make dAPI User benefits .

External actors and actions

API Provider

One of the basic drawbacks of existing Oracle solutions is the attempt to establish and maintain a parasitic connection to the data source , And that doesn't produce sustainable ecosystems . contrary , We first realized that API The provider is the engine of the project . therefore , They won't be stripped off , It's about ownership and compensation , In order that their interests and greater API3 The interests of the ecosystem are identical .

API Provider through Airnode For the chain dAPIs Provide data . They will be compensated regularly at a fixed rate , It will fit their current pricing model .** these Use stable currency as much as possible .( Please note that , some API The provider explicitly refuses With ** Cryptocurrency as payment . under these circumstances ,DAO There will be a grant , In return , The grant will be paid to API provider , Prove that API The provider gets the recipient's monetary compensation .)


As mentioned earlier , whatever API3 Token holders can participate in the pledge pool . In exchange for , The pledgor gets the voice of governance through the share of governance token .

Decentralized governance requires well-balanced incentives , Accurately simulate positive and negative outcomes . let me put it another way , Governance entities should reward good results , Punish for bad results .

pledge ** function To participate in API3 And provide financial incentives for those who contribute to increasing their income . Pledge allows participants to share API3 Business risk of , And motivate them to minimize the risk . Last , government level ** It provides participants with the ultimate tool to implement these incentives .


Decentralized applications (dApp) Developers subscribe to dAPI, Because of its transparent construction and cost-effectiveness ( Compared with unnecessary redundant third-party solutions ),dAPI Better than existing solutions .

Besides , What's unique is ,dAPIs Security is quantifiable . Please refer to our article , And we talk about why existing Oracle level solutions ** It's not as good as ** Of Other articles . It means : If dAPI user ** consciousness To fault , They will Sure ** Assess the loss , And can carry on the chain insurance claim . Please refer to our White Paper No 6 section (" Quantifiable security through insurance ").


API3 It's going to compare the application of decentralization with the traditional Web API The rich and diverse data and services provided are connected together -- See us about API The definition of 、 History and its central importance in the digital world article .API3 It will therefore expand the applicability of the blockchain without sacrificing decentralization . This will go through dAPIs To achieve -- Completely decentralized and blockchain native API-- Will be made by API3 DAO Set up on a large scale 、 Management and monetization .

Last , We will emphasize API3 Several features of the design :

Security -- -- dAPIs Not relying on a third-party Oracle , Third party Oracle is an important risk factor in alternative solutions . Please refer to page... In our white paper 3 section (" The problem of third-party Oracle as a middleman "). Besides ,dAPI The insurance service provides its users with quantifiable and non ** Must be trust to grant authorization ** The security guarantee of , Further consolidated API3 Receive as a decentralized application API The position of service as the most secure solution .

robustness --Airnode Using no server technology , Strong anti downtime capability . It's not the same as nothing ** Fix ** Joint design , Not susceptible to errors or adverse network conditions . Besides ,dAPIs Will be made by DAO management , The DAO Maintaining a self-adjusting balance between risk and reward through well-designed incentives , This provides a strong risk mitigation framework . See the first 5.6 section .("API3 Token economy ") White paper for .

Cost effectiveness -- -- dAPIs Eliminated the middleman . They don't have to pay a middleman tax , And the middleman tax is paid to a third party Oracle , To encourage them not to try to attack . See the first 3.2 section (" Middleman tax ") In the white paper . Besides , The data information source composed of the first party Oracle does not need excessive redundancy at the Oracle level -- This kind of data source achieves the same level of decentralization with fewer Oracle machines , So as to save **Gas** cost .

Last ,API3 The solution is flexible , Because it has the characteristics of decentralized governance , It's governed by those who are really involved in the game . therefore , The project is not limited to the original design , It's going to grow , To meet new challenges and needs .

In this series of blogs , We introduced API3 The main idea behind the design . Finally, this article combines these ideas , Explain how they fit ** Should be API Connectivity issues , To design **API3 Solution . Last , We suggest that you read our white paper , There is a more comprehensive and formal discussion of all these concepts .

API3 I want to discuss with you how to make your API Provided to blockchain .

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