Announcing its strategic partnership with API3, Cudos said that the association would allow the users on its platform to develop trustless applications that can easily interact with the various APIs on the web. API3 is a leading name in the industry that has carved a place for itself by delivering Oracle solutions based on a first-party interface.
These solutions are more efficient and simple in their working mechanism and bring higher security and compliance to the table. All the applications work on a completely decentralized nature and are ruled by transparent governing mechanisms. In addition, API3 also helps by providing the data to the target stakeholders. This is reassuring for the users who worry about the authenticity and malfunction of data feeds.
In terms of the operating components, Airnode is part of the solution offered by the API3s. Airnode can be considered a middleware useful in connecting blockchain applications directly to any API on the web. In other words, it is an easy path that leads to Web3. One of the primary problems the API’s organization faces is the decentralization working mechanism of the Web3 security. This is why the Oracle solution has been to act as a bridge between the API and Oracles.
Another distinctive competence of the solution offered by the API3 is the dAPIs. As the data feeds offered by API3 are often governed by the DAO, the dAPIs can be executed with maximum transparency and minimum requirement of trust even in case the operations are governed in a centralized manner. This partnership will be helpful for all developers of decentralized applications who are looking for a credible alternative to the likes of AWS and Azure. The partnership is expected to become a game-changer, especially for the service providers of the blockchain domain and the entire domain of decentralized solutions.