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Title: API3 vs LINK Post by: crypmike on January 24, 2021, 09:37:39 AM https://api3.org/
What's the difference? What is the killer feature of API3? Or it's just another oracle? Am I right that LINK is an oracle of data, but API3 in an oracle of API? And DeFi projects could use both of these oracles at the same time? Thanks UPD: Found this https://daotalk.org/t/api3-frequently-asked-questions/2047: How does API3 differ from existing oracle solutions? Traditional oracle projects aim to solve the oracle problem by achieving a generic decentralized interface between two arbitrary systems. In contrast, API3 focuses on the API connectivity problem, which is specifically concerned with interfacing Web APIs to smart contract platforms in a decentralized way. This narrowed-down definition of the problem allows API3 to reach a more optimal solution. What is a decentralized API (dAPI)? Traditional businesses offer a wide variety of services over Web APIs, ranging from providing asset price data to executing traditional financial transactions. A decentralized API (dAPI for short) is a secure and cost-efficient solution to provide a traditional API service to smart contracts in a decentralized way. dAPIs are composed of first-party oracles operated by API providers, and are more secure and cost-efficient compared to alternative solutions that employ middlemen. In addition, dAPIs are governed decentrally, providing them with end-to-end decentralization. |