API3 Connects NEAR and Aurora with over 180 Web2 Data Providers
API3, the leading first-party oracle solution that makes real world data accessible by smart contracts, will integrate its first-party oracle into the NEAR and Aurora blockchains.
With Airnode, API data can be queried from blockchains without having to use specialist node-operating middlemen. This architecture both eliminates the Sylbil-vulnerable third party node layer and reduces fees by cutting out the “middleman tax” paid to these node operators for their services.
NEAR Protocol is one of the most critically acclaimed blockchain infrastructures designed specifically to enhance the scalability and adoption of blockchain technology. Built for speed, security, and performance, NEAR provides the highest level of security and oversight with a completely decentralized and distributed network with commercial-grade robustness, reliability, fault tolerance, and ease of use at its core.
Aurora complements Ethereum, providing a solid foundation for developers to build mission-critical services and further unlocks Ethereum’s potential, enabling the trustless execution of decentralized applications. As a new wave of DeFi products launches on the network, dApps will need enhanced security at the network data level, especially for price feeds.
API3 has made over 180 Web2 APIs accessible to Web3 using Airnode so far. The API3 catalogue has a wide variety of data feeds across price, sports, weather, travel, randomness, and a range of other data categories.
This also includes over 400 institutional grade Open Banking APIs that deliver composability for onboarding and KYC (know your customer), transactions and account data, merchant and ATMs, and a range of other open banking use cases. These were recently utilized by a state-owned bank in El Salvador for a hackathon, supporting the exploration of inclusive on-chain financial services.
NEAR is committed to supporting the integration roadmap that prioritizes the deployment of crypto, forex, commodity, and equity data feeds to support the demands of DeFi. This will see API3’s catalogue of Airnode-enabled APIs being made accessible to dapp developers on Aurora and NEAR.
Ecosystem builders are encouraged to engage with NEAR Foundation and the API3 DAO. We are committed to supporting projects that will use NEAR’s easy, fast, and secure blockchain and API3’s oracle solution to power decentralized applications.
About API3
The API3 Foundation is a Decentralized Autonomous Organization (DAO) leading the movement from legacy third-party oracle networks to first-party oracle solutions that deliver more security, efficiency, and regulatory compliance. Powered by Airnode first-party oracles, API3’s Decentralized APIs (dAPIs) are decentrally controlled and blockchain-native data feeds with quantifiable security.
Telegram: https://t.me/API3DAO
Discord: https://discord.gg/api3
Twitter: @API3DAO
Forum: forum.api3.org
Website: api3.org
About NEAR
NEAR is a high-performance blockchain that is designed to be super-fast, incredibly secure, and infinitely scalable. NEAR’s vision is to create a network that enables people to re-imagine finance, creativity and community in new and inclusive ways.
NEAR is built by an award-winning team of engineers and entrepreneurs to be simple to use, inclusive and good for the environment. NEAR is backed by top VCs such as A16Z, Pantera Capital, Electric Capital, Dragonfly Capital, Coinbase Ventures, Blockchain.com, and Baidu Ventures.
Join NEAR’s community:
Telegram: https://t.me/cryptonear
Discord: https://discord.com/invite/UY9Xf2k
Twitter: @NEAR_Blockchain & @NEARProtocol
