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API3

API3 (API3) Price Index

$ 3.90 Ƀ 0.00007571
  • MarketCap
    $ 405,063,611
  • Volume
    $ 27,623,542
  • Change
    -0.88%
api3API3
$ 3.90
$ 3.90
0.88%
3,60
API3
API3 (API3)
$ 3.90
API3
API3 (API3)
author
author
With a background in journalism and digital marketing, Marcel is a keen crypto enthusiast and investor. A regular contributor to several crypto publications, he believes that META-based projects will soar in the coming years and is super-bullish on MeritCircle and the increase in P2E gaming platforms. Marcel is also excited about AVAX and FTM as ETH-chain alternatives, and any projects with strong utility, transparency, experience, and community marketing.
By Marcel Deer
author
With a background in journalism and digital marketing, Marcel is a keen crypto enthusiast and investor. A regular contributor to several crypto publications, he believes that META-based projects will soar in the coming years and is super-bullish on MeritCircle and the increase in P2E gaming platforms. Marcel is also excited about AVAX and FTM as ETH-chain alternatives, and any projects with strong utility, transparency, experience, and community marketing.
on January 08, 2023 | 3 min
Updated on Jan 16, 2024

Overview: What is API3 (API3)?

API3 Coin is the Ethereum ERC-20 token of the API3 protocol, a first-party oracle solution that allows blockchain developers to connect their dApps to other data streams and to conventional applications. API3’s Airnode technology turns conventional APIs into ones that can be integrated into blockchain and Web3 projects.

 

API3 (API3) was developed by Heikki Vanttinen, Burak Benligiray, and Saša Milić in 2020.

 

What Makes API3 (API3) Coin Unique?

API3 is not entirely unique in the blockchain space. There are competitor projects, including Razor Network and Chainlink, API3 does have some differences that set it apart.

 

Application programming interfaces (APIs) are protocols used to allow applications to communicate and interact. APIs are not compatible with smart contracts, but third-party oracle nodes allow links between conventional APIs and smart contracts. Generally, a centralized service provider provides these, whereas API3 offers the technology to link data sources with smart contracts without third-party oracle nodes. API3 achieves this using decentralized APIs (dAPIs). dAPIs are first-party oracle networks that work similarly to APIs but are blockchain-compatible and decentralized.

 

What Is API3 (API3) Coin Used for?

The API3 token is used by developers and dApps using the dAPI network to pay transaction fees. The token is also used for governance in the protocol’s decentralized autonomous organization (DAO), and API3 can be staked by holders as a reward for participation in the network. API3 can also be bought, sold, and otherwise traded on cryptocurrency exchanges.

 

How Does API3 (API3) Work?

The API3 protocol, Airnode, is an open-source middleware and oracle solution that connects web APIs to blockchain applications. Developers can use ChainAPI, Airnode’s integration platform, to connect, deploy and manage their Airnode.

 

How Is the Price of API3 (API3) Determined?

The API3 token price is influenced by a variety of market factors, its utility, and the success of the API3 and Airnode technology. API3 has a maximum token supply of 127 million.

 

The following factors influence the API3 price:

 

  • Supply, demand, liquidity, and scarcity
  • API3 and cryptocurrency market sentiment
  • The success and use of API3 technology
  • The performance of API3 competitors

 

What is the API3 (API3) Coin Price Prediction for 2030?

 

Cryptocurrency prices are very hard to forecast but popular analysts and crypto websites do have predictions for the API3 token for 2030. CoinCodex believes the API3 price could rise to between $10.50 and $13.30. CoinMarketCap predicts the API3 price could reach $13.35.

 

How Is the API3 (API3) Coin Network Secured?

As API3 is an Ethereum ERC-20 token, it takes its security from the proof-of-work consensus mechanism of the Ethereum blockchain. The API3 protocol’s oracle network also has to reach a consensus on data accuracy, and oracle networks can be less safe than blockchains. API3 offers insurance cover to dAPI developers in case of a malfunction. In addition, the API3 DAO has community members who vet API providers and data feeds for accuracy, trustworthiness, and reliability.

 

Where Can You Buy API3 (API3)?

API3 can be bought on major cryptocurrency exchanges, including Binance, OKX, HTX, Coinbase, Bithumb, KuCoin, and also on the decentralized exchange Uniswap.

 

How Can You Store API3 Coin (API3)

API3 tokens can be stored in an exchange wallet, an Ethereum-compatible hot wallet, or a hardware wallet, which is the most secure option as the wallet contents are stored offline in a physical device.

 

FAQs

Is API3 a good investment?

Cryptocurrency market participants and project supporters will decide if API3 is a good investment based on their own due diligence. API3 so far appears to be a credible blockchain project, and the API3 token has utility for the protocol. However, it is important to keep in mind the high volatility of the crypto market.

 

Who is the owner of API3?

Heikki Vanttinen, Burak Benligiray, and Saša Milić founded API3 in 2020. Heikki Vanttinen is CEO. API3 is governed by token holders participating in its DAO and an on-chain voting mechanism.

 

Is API3 safe?

Cryptocurrencies are unregulated and incredibly volatile. The API3 token could rise or fall in price depending on the success of the API3 protocol and technology, the performance of its competitors, supply, demand, market sentiment, and other factors.

 

What does the API3 coin do?

The API3 ERC-20 token is used by developers and dApps using the dAPI network to pay transaction fees. It’s also used for governance in the protocol’s decentralized autonomous organization (DAO), and holders can stake API3 for a reward for participation in the network. API3 is available on leading cryptocurrency exchanges.

 

Does API3 have a maximum supply?

API3 has a maximum token supply of 127 million.

 

What is the difference between API3 and Chainlink?

API3 is a decentralized and open-source protocol that anyone can use to create an oracle node or Airnode to connect conventional applications to dApps and blockchain projects. Chainlink is centralized, its team can decide who can create Chainlink oracle nodes. Another of several differences is that Chainlink is third-party, where it provides the nodes to connect APIs and blockchains, in contrast, API3 is a first-party solution that users can create and manage themselves.

 

author
About Marcel Deer
With a background in journalism and digital marketing, Marcel is a keen crypto enthusiast and investor. A regular contributor to several crypto publications, he believes that META-based projects will soar in the coming years and is super-bullish on MeritCircle and the increase in P2E gaming platforms. Marcel is also excited about AVAX and FTM as ETH-chain alternatives, and any projects with strong utility, transparency, experience, and community marketing.
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