API3 Empowers DeFi Developers With Real-Time Data On 5 New Blockchains

Republished By Plato

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API3 has expanded its decentralized data feeds (dAPIs) to five new blockchain networks: Base, Kava, Linea, Mantle, and Rootstock.

API3 aims to transition from traditional third-party oracle networks to first-party oracle solutions, creating a more interconnected DeFi ecosystem with secure and decentralized oracles. They offer various products, including Airnode to connect API providers to the blockchain, decentralized data feeds (dAPIs), QRNG services for on-chain random number generation, and OEV Share for dApps to capture Oracle Extractable Value.

API3’s approach makes off-chain data more accessible and affordable for developers of decentralized applications (dApps). The newly supported networks are Base, an Ethereum Layer 2 solution by Coinbase; Kava, combining Cosmos SDK scalability with Ethereum’s developer power; Linea, a zkEVM rollup for Ethereum dApps; Mantle, a modular blockchain with an optimistic rollup; and Rootstock, an open-source platform enhancing the Bitcoin ecosystem with smart contracts and scalability.

“Builders on these chains now have access to price feeds powered by oracles operated by the data provider as opposed to third-party node operators,” states API3 Ecosystem Lead, Ben Carvill. “This marks a significant shift for the industry by returning transparency to on-chain data.”

With dAPIs on a total of 16 networks, API3 supports DeFi developers in scaling their applications. These dAPIs provide verifiable, decentralized data feeds maintained directly on-chain by data providers, enabling developers to access real-world data easily.

Managed dAPIs simplify data access by removing operational complexities such as gas management and maintenance. The API3 Market offers developers a user-friendly interface for browsing, accessing, and managing over 120 data feeds, including crypto, forex, equities, and commodities.

API3’s focus is on decentralization, data verifiability, and transparent on-chain operations. By sourcing data from reputable providers and decentralizing data feeds, they ensure the security needed for DeFi’s growth.

As DeFi continues to evolve, API3 sets a standard for oracles beyond data provision. Oracles play a crucial role in network security and scalability, and API3 aims to provide fully managed, secure oracle services for the future of DeFi, enabling mass adoption and scaling.