Oracle For Startups and Honeycomb API Marketplace

Dave Connor
Oct 28 · 3 min read

CLC Group are pleased to share that Honeycomb API Marketplace has been selected as a partner for Oracle for Startups’ Blockchain and Chainlink Innovation Project. We are looking forward to helping Oracle’s selected startups offer their data to smart contract developers over Honeycomb.

Honeycomb API Marketplace Launch Video

About Honeycomb

Honeycomb is a marketplace designed from the ground up to make it easy for smart contract developers to find premium data sources. These APIs will be served by a number of nodes to allow for full node-level decentralisation. This helps protect developers from downtime if a single node fails to respond, and allows aggregation between nodes to prevent a malicious oracle affecting the results. We partner with enterprise-grade, officially listed Chainlink node operators.

For usage in smart contracts and decentralized applications, we have negotiated use-case-specific pricing and permissions for every API on Honeycomb. This means that we can assure developers that their application is fully supported, and that our adapters will be kept updated in response to endpoint changes. Our assurance here is backed by a service agreement that each API provider has agreed to. There is no other Chainlink data marketplace that can match this feature.

Ecosystem Benefits

We believe that making it easy for developers to use Honeycomb will increase the likelihood of the APIs we list being used in smart contract/dapp projects. In turn, this will increase call volume for these APIs and cement their place in the developing smart contract ecosystem through developer awareness. We are excited to use our connection to Oracle for Startups to improve our offering for developers, and we are continually working to make integrating Chainlink into Ethereum smart contracts easier, allowing developers to focus on their core application.

API Listing Requirements

Listing an API onto the Honeycomb marketplace is extremely simple, and requires only three things:

Per-call pricing model
Pay-as-you-go pricing allows a consistent return upon demand, and prevents APIs becoming unavailable because of excessive subscription fees during times of low demand

Free test calls
Before going into production (mainnet), developers need a way to test the oracle integrations. For this, we provide our users with a limited number of free Ropsten testnet calls through our testnet oracles.

Service Agreement
The Service Agreement states that providers allow their data to be used for smart contract applications via decentralized oracle node operators, providing increased security and assurance over connections made through regular retail-level monthly subscriptions, where such data redistribution may be considered to be in violation of the API Terms of Service.

Advantages of Making an API Available for Smart Contracts

Despite their potential to disrupt business processes as we know them, until recently, smart contracts were limited in their utility to the exchange of on-blockchain tokenized assets. However, with the introduction of Chainlink, any API can now form part of an emerging ecosystem that uses data provided by the API as its fuel. Using Chainlinked APIs, developers can create smart contract applications that disrupt entire industries. Eliminating the need for a trusted middleman will create huge efficiency gains for enterprises.

The long term goal of Honeycomb is to maximise the number of available data sources on the Chainlink network by reducing the barriers to entry for network participants. To encourage this, we don’t charge any fees for listing an API or running a Honeycomb-connected node, and we build the necessary external adapters free of charge. In short, we are offering the opportunity to open up a new vertical for monetising data with zero starting costs or technical development.

If you have an API and are interested in the Web3.0 market, contact us at api@clcg.io. We’d love to hear from you.

CLC Group

CLC Group is a blockchain lab focused on developing real-world connected smart contract solutions for a more trustless, efficient and secure future.

    Dave Connor

    Written by

    VP of Business Development, Honeycomb API Marketplace, CLCG

    CLC Group

    CLC Group

    CLC Group is a blockchain lab focused on developing real-world connected smart contract solutions for a more trustless, efficient and secure future.

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