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Chainlink's "challenger" API3 Completes $3M Financing
Summary: API3, the decentralized API (dAPI) network, announced the completion of $3 million in private financing. Placeholder led the investment, Pantera, and Digital Currency Group participated. API3 aims to challenge the industry leader Chainlink by building a completely transparent solution to combine the blockchain with the data provider's API. Heikki Vänttinen, the co-founder of API3, states that ...
API3, the decentralized API (dAPI) network, announced the completion of $3 million in private financing. Placeholder led the investment, Pantera, and Digital Currency Group participated.
API3 aims to challenge the industry leader Chainlink by building a completely transparent solution to combine the blockchain with the data provider's API. Heikki Vänttinen, the co-founder of API3, states that blockchain nodes must obtain external information through Oracle nodes. Oracle nodes are a kind of middleware between the ledger and the API of certain data providers, this intermediary function which is provided by Chainlink is not a transparent governance system. A better solution is to allow API providers to run their own nodes, thereby completing the data feedback management process in a transparent and completely decentralized manner.
By Mary Liu
Tags: API,API3,Chainlink,Digital Currency Group,Oracle,Placeholder
Link: Chainlink's "challenger" API3 Completes $3M Financing [Copy]
