What is API3 (API3)?

API3 is a protocol that aims to provide reliable and secure data oracles for decentralized applications ( dApps ), particularly within the decentralized finance (DeFi) space.

By using the latest technology, API3 aims to overcome the problems faced by data oracles today, such as data reliability, security, and dependency on central entities.

API3 is a decentralized data oracle protocol built on blockchain. The main goal of this project is to bring reliability, security, and independence from central entities in the provision of oracle data for dApps, especially within the DeFi space.

With features such as a distributed network of Oracle data providers, a staking-based trust model, and direct connection with APIs, API3 aims to address the issues faced by current Oracle data and increase trust in the DeFi ecosystem. Thus, API3 plays a critical role in strengthening the DeFi infrastructure and facilitating greater growth and adoption in the decentralized finance space.

API3 Key Products & Features (API3)

Below are some of the main products and features of API3.

1. Decentralized Oracle Data

API3 provides reliable and secure decentralized data oracles. This allows dApps to gain access to external data from trusted sources without having to rely on a central entity. Compared to traditional data Oracle solutions, API3 offers a higher level of reliability by using a network of Oracle data providers supported by stakes around the world.

2. Staking Based Trust Model

API3 uses a staking-based trust model where stakes are expected to provide accurate and reliable data. Stakers must lock a certain amount of API3 tokens as collateral, which will be lost if the data provided cannot be trusted. This model provides incentives to stakes to act honestly and ensures data reliability.

3. Direct Connection with API

API3 allows dApps to connect directly to API data sources without intermediaries. This ensures data reliability and reduces the risk of errors or data manipulation that may occur at intermediate layers. With a direct connection, dApps can obtain data in real time and accurately.

4. Decentralization and Security

API3 offers a high degree of decentralization and security in the provision of Oracle data. By using a distributed network of Oracle data providers and a staking-based trust model, API3 helps reduce the risk of data manipulation and attacks on the network.

5. Token API3 (API3)

API3 tokens are digital assets used within the API3 ecosystem. It has several functions, including staking, payment for services, and voting rights in governance mechanisms.

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What Are API3 Tokens (API3)?

API3 tokens (API3) are digital assets used within the API3 ecosystem. This token has several important functions and roles in running the API3 decentralized Oracle data protocol. The main functions of API3 tokens include.

1. Staking

API3 token holders can stake by locking their tokens as collateral to become stalkers in the API3 Oracle data provider network. By staking, token holders can earn rewards in the form of additional tokens as an incentive for providing accurate and reliable data.

2. Payment

API3 tokens are also used as payment for services and operational costs within the API3 ecosystem. This includes payments for the use of Oracle data or transaction fees within the network.

3. Voting Rights in Governance

API3 token holders have voting rights in the governance mechanism of the API3 ecosystem. They can participate in decision-making regarding the development and operation of the protocol, as well as express their opinions about proposed changes and updates.

Tokenomic Token API3 (API3)

Tokenomics or API3 token economics (API3) refers to the economic structure that governs the distribution, use, and value of tokens in the API3 ecosystem.

Total Supply: 100.000.000 API3

Distribution:

20% - Team and Contributors
20% - Public sale
20% - Ecosystem and Treasury
20% - Staking dan Yield Farming
20% - Developer Fund

API3 Fundamental Analysis (API3)

API3 fundamental analysis (API3) involves an in-depth evaluation of the project, including the technologies used, the development team, use cases, and future growth potential. Following are some important points in API3 fundamental analysis.

Experienced team with a background in blockchain and data technology.
Fast-growing community with over 50,000 followers on social media.
An innovative and compelling solution that solves API scalability and security problems in Web 3.0.
High-profit potential through staking and participation in the API3 ecosystem.

Also Read: How to Create Tokens with TokenMint

Comparison of API3 (API3) & Competitors

For a comparison of API3 with competitors, you can see the following table.

Founder & Tim API3 (API3)

Founder & CEO: Dr. Frank Xia
COO: Arion Tserotas
CTO: Eric Chin
The API3 team consists of 30+ people with experience in blockchain, data technology, and software development.

Expert Opinion About API3 (API3)

According to experts, API3 is:

API3 has the potential to become one of the leading API platforms in Web 3.0.
The API3 platform offers innovative and compelling solutions to API scalability and security issues.
The API3 team is experienced and has a proven track record.

Conclusion

API3 is an innovative and exciting dAPI solution that has great potential to grow and become one of the leading dAPI platforms in Web 3.0. The API3 platform offers the right solution to API scalability and security issues and has an experienced team and a proven track record.

How to Buy API3 on Bittime

After knowing what API3 is and how it works, are you interested in buying and investing in this crypto asset? You can do it at Bittime. API3 tokens are available on Bittime in API3 IDR pairs.

Below is a guide on how to buy API3 tokens on Bittime.

Register an account at Bittime using an active email.
Complete the identity verification process.
Once the account is verified, open the Bittime application.
Select the Market menu or click the graphic icon.
Select IDR pairing to buy API3 with Rupiah.
Click 'Buy'.
Select the order type to use. Limit orders, market orders, and stop orders are available.
Enter the nominal rupiah to buy API3.
Click the 'Buy API3' button.
A notification pop-up will appear. Read it carefully and click 'Confirm'.
Enter the six-digit Transaction PIN.
The application will display a successful order notification.

Complete guide on how to buy API3, click here.

Apart from buying API3 tokens, you can also buy various crypto assets such as BTC, ETH, SOL, ADA, AVAX, DOGE, and many others. Don't forget, keep monitoring ORDI, BTC, ETH, and SOL price chart movements today to find out crypto market trends on Bittime.

Crypto asset buying and selling transactions on Bittime are easy, safe, and instant. Bittime is officially registered and supervised by Bappebti and Kominfo.

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DISCLAIMER: This article is informational and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.

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