Announcing Amberdata Beacons, Powering DeFi at ETHDenver
Over 3,000 developers at ETHDenver will be able to build on API3-powered Amberdata Beacons, which are cost-effective, secure, transparent cryptocurrency price feeds. Beacons will enable unprecedented Web3 innovation and play a critical role in the future of DeFi.
API3 is starting off the year with an exciting new product: Beacons, which deliver continuously updated data feeds on-chain directly from the API source. Beacons challenge the commonly used third-party oracle model, through which third-party middlemen get data from API sources such as Amberdata, aggregate it and relay it on-chain. Third-party oracles reduce transparency while increasing both cost and risk. Beacons are built on Airnode first-party oracles which eliminate these inefficiencies.
Never before has it been so easy for data providers to offer their data directly on-chain. Beacons are extremely simple to set up and are optimized for absolute minimal impact and maintenance on behalf of the API providers. With API providers publishing data feeds directly on-chain, their real-world reputation comes with the data.
API3 is inaugurating this new product with Amberdata, the leading provider of digital asset data and insights into blockchain networks, crypto markets, and decentralized finance. Amberdata Beacons will be launched at ETHDenver, the largest Web3 hackathon in the world, bringing together blockchain protocol enthusiasts, designers, and developers. Thousands of developers will be able to make use of the first-party data feeds provided by the Amberdata Beacons at the ETHDenver #BUIDLATHON, where API3 is serving as the official DeFi Track sponsor.
Amberdata Beacons will provide developers with high quality, efficiently delivered, easily accessible data to power the future of DeFi. ETHDenver #BUIDLATHON participants will be first to benefit from these new data feeds.
Ahead of ETHDenver, participants are encouraged to complete the linked survey and request which price feeds they would like to be offered by API3 at the event. To learn more about API3 and Beacons, please visit https://api3.org and the Beacons page at API3.org.