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William Holman Hunt, The Miracle of the Holy Fire, 1892–1899.

API3 Core Technical Team Report, February 2022

We were at ETHDenver and it was glorious! We used this opportunity to showcase Amberdata Beacons, which were received with a lot of enthusiasm and approval. It was encouraging to see that potential users found first-party oracles to make a lot of sense, and gaining widespread adoption is only a matter of time and effort put into scaling. All this was made possible by the core technical team deciding to expand its efforts into building live data feeds in mid-December, and this quickly coming into fruition with 20 RRP-based Beacons each on 4 chains in early-February (see them here, use them here). This demonstrates how agile one can be when they use Airnode to put together higher level oracle services, and you can expect us to do more of this.

As discussed in the December report, it’s important to balance product development and protocol development. Products are what the market wants and needs, yet a powerful Airnode is what makes it easy to build impactful products. Add good documentation and guides on top of this, and our users will be building the products for us. Based on this reasoning, we did not let Beacon development stop Airnode development, and released Airnode v0.4 early in the month. This release was mostly about improving RRP performance and implementing all of the breaking changes anticipated in v0 early on. Work on v0.5 has started, and it’s expected to be released in March.

Feel free to refer to the links above for more details about what we have built this month, and let me quickly plug a talk I gave at ETHDenver on our approach to designing technical solutions, which places Beacons in a larger framework. You can also take a look at the Beacon workshop or Ashar’s RRP demo. Cheers for reading!

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API3 is leading the movement from legacy third-party oracle networks to first-party oracle solutions that deliver more security, efficiency, regulatory compliance, and simplicity. Learn more: api3.org or join our community at https://discord.com/invite/qnRrcfnm5W

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Burak Benligiray

Burak Benligiray

API3 core technical team lead

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