Application programming interfaces (APIs) are a better option than smart contracts because they provide better access to real-world data. API3 allows decentralized versions of APIs. They can be built, managed, and monetized at scales. Blockchain technology has impacted the economy in a huge manner, and API3 believes that smart contracts can provide “timely, reliable, and real-world data.”   

<p>As per API3, connectivity is the main issue with APIs presently. Since there is no direct connection between smart contracts and APIs for the latest data. This has resulted in many different kinds of oracles. These oracles are middleware that connects the APIs and smart contracts. However, the problem with them is that they increase cost and centralization. API3 wants to solve this problem by giving the API providers the freedom to operate their very own nodes.</p><h2>Who Are the Founders of API3?</h2><ol><li>Heikki Vanttinen is one of the founders who was previously the founder and CEO at CLC Group, which was a blockchain lab He also served as chief marketing officer at Zippie, a mobile operating system that helps blockchain technology achieve mainstream adoption.</li><li>Burak Benligiray is the second founder, who was previously the CTO at CLC Group. His posts on the merits of ChainAPI were the guiding force for the integration platform for API3.</li><li>The third founder is&nbsp; Saša Milić who is a sessional lecturer at the University of Toronto and teaches core curriculum courses to computer science students. She has also worked as a software engineer for Facebook and as a simulation data scientist for Gauntlet in the past.&nbsp;</li></ol><h3>What Makes API3 Unique?</h3><ol><li>API3 is different than other projects in the blockchain and crypto worlds because it aims to fix some of the problems that have emerged within the blockchain space itself.</li><li>It supplies blockchains with off-chain data. The decentralized ledgers do not have any idea about the coins worth.</li><li>As per Heikki Vanttinen, the founder, API3 provides superior data transparency all the way to the factual data source level, compared to existing decentralized oracles, which do not consider the data source API to be within the scope of their solution.</li><li>API3 uses light and robust middleware called Airnode, which can be deployed in minutes. It also provides better transparency and decreases a high amount of transaction fees.&nbsp;&nbsp;</li></ol><h3>How is the API3 Network Secured?</h3><p>API3 is an ERC-20 token, and it is based on the Ethereum blockchain.</p>

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