API3 is excited to announce it has joined the Enterprise Ethereum Alliance.
As the global standards body for enterprise Ethereum, the EEA is a fitting alliance for API3 to make, as the design of API3’s oracle node, Airnode, makes its solution uniquely suited for enterprise use and adoption.
Airnode for Enterprise
Regulatory compliance regarding the handling of private and permissioned data is a fundamental requirement for any company, extending to all solutions that interact with this data. Airnode is designed to be deployed by the API owner and operated as a first-party oracle, without the use of any third-party middlemen. For companies building API integrations into their blockchain solutions, this approach allows for increased control over who gets access to the data fed to the blockchain, as the API owner does not have to trust a third-party operator to act as the access gateway to their API. As the API owner runs the oracle node, there is no possibility of either violation of data privacy compliance or manipulation of data on the oracle layer, making Airnode well-suited for use-cases where the data owner needs to remain in control of who gets access to their API. For use cases employing a private blockchain-based solution, Airnode enables the use of proprietary data without any third-party exposure beyond permissioned parties.
In addition to improvements in the area of data control and privacy, since the design of the Airnode has the requester pay for the transaction fees incurred in data query (gas), the Airnode solution does not require the API owner to handle cryptocurrency. This enables the owner to connect their API to blockchain applications without having to top up a node wallet for gas fees — something which would normally require additional tax and regulatory compliance considerations for most companies.
ChainAPI for Enterprise
To make API integrations to blockchain applications simple and scalable, companies looking to employ APIs in their blockchain development will soon also be able to create their own Airnode integrations through the use of a simple graphical interface, on the ChainAPI integration platform. ChainAPI will allow any API to be integrated with an Airnode without the need for external integration consultants, significantly lowering the barrier of introducing data integrations to enterprise blockchain solutions. Thus, ChainAPI enables the creation of data connections in a cost-efficient and intermediary-free way, while requiring minimal blockchain-specific expertise.
API3 is eager to work with members in the Enterprise Ethereum Alliance in order to realize new, data-driven blockchain use cases, as well as develop standards for API-connectivity in enterprise blockchain, based on best practices, synergies and creativity.
API3 Links
Twitter — https://twitter.com/API3DAO
Telegram — https://t.me/API3DAO (Community Chat)
Discord — https://discord.gg/qnRrcfnm5W (Builder Chat)
Github — https://github.com/api3dao
Reddit — https://www.reddit.com/r/API3/
Medium — https://medium.com/api3
