Blockchain oracle platform API3 set to launch new solution with crypto data provider Amberdata

More than 3,000 dApp developers will soon have the opportunity to build on Amberdata’s API3-powered data feeds...

API3, a first-party blockchain oracle solution providing a seamless Web3 wrapper that enables API providers to offer their data directly on-chain, is set to launch its new solution: Amberdata Beacons, in partnership with crypto-asset data provider Amberdata.

February 11th-20th’s ETHDenver event was chosen as the venue to launch API3’s Beacons, as it remains the largest Web3 hackathon in the world for blockchain enthusiasts, designers, and developers. ETHDenver is community-funded and serves as a platform to provide developers with tools and funding.

Introduced in December 2021, API3’s Beacons create a transparent, scalable, and cost-effective solution for data providers to publish data feeds on-chain directly. Beacons represent a unique offering in the ecosystem that is generating excitement among developers and major blockchain protocols alike.

“The structure of traditional data feeds conceals where information is sourced, due to a lack of transparency from third-party oracle nodes, ultimately preventing developers from selecting data sources based on their real-world reputations. Beacons improve on this opaque model by harnessing the benefits of first-party oracles, where the data sources feed their data directly on-chain instead of going through 3rd-party intermediaries,” said Heikki Vänttinen, Co-Founder of API3. “Looking ahead, Beacons will be the building blocks of our dAPIs, alongside being offered as a standalone service.”

This partnership between Amberdata and API3 promises to supply developers and protocols with a trusted, comprehensive, and convenient data solution. Built on API3’s open source Airnode, Beacons are continuously updated data feeds, each powered by a single first-party oracle, and make it even easier for Web3 projects to build on API3’s first-party oracle technology.

In tandem with the launch, API3 is serving as the official DeFi Track sponsor of Denver, the largest and longest-running Ethereum event in the world. As such, API3 representatives will have a strong presence at the event to support developers and ensure they are equipped with the tools and knowledge to successfully build on Amberdata Beacons over the course of the nine-day event.

“At a critical time in the development of Web3, partnering with API3 and its novel first-party oracle solution enables us to reach an even broader audience of developers and projects, ensuring they have the most comprehensive, high-fidelity data to power DeFi and new apps,” said Shawn Douglass, CEO of Amberdata.

Key benefits of API3 Beacons include:

Ahead of ETHDenver, participants are asked to complete the survey request form found here for the price feeds they would like offered by API3 at the event.

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