API3DAO: A Critical Infrastructure Provider Driving Web3 Development

The API3 platform allows blockchain-based decentralized applications to access blockchain real-world data and services through APIs. However, from 2020, there are more than 150 data providers, and later it cooperates with the API3DAO protocol. However, it is now one of the leading infrastructure providers driving web3.

API3 is a fully decentralized protocol that makes data trusted for web3 usage. With the help of API3, data providers load their data into dApps without blockchain capabilities. API3 tokens and DAOs are used as a medium to establish trust between API providers and dApps. It is an economic mechanism that provides overlays for data-dependent dApps. With a balanced token caricature model, API3 creates a secure and economical data exchange for buyers and sellers without any middlemen.

The first version of API3 is aragonOS, which is constantly building for customization and improvisation. Also, it should be noted that on the basis of aragonOS, API3 has been enhanced to suit the needs of its protocol. With approximately 6,000 participants and $52 million (between USDC and native tokens) managed in the DAO Fund, these customizations make API3 one of the most substantial and innovative DAOs built from aragonOS.

Source of information: Compiled from CRYPTONEWSZ by 0x information.The copyright belongs to the author and may not be reproduced without permission

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